PayNow Casinos - Safe Deposit

The cashless, secure and real-time online payment method - PayNow - was launched and promoted in 2017 for consumers and businesses alike. Introduced by the Association Bank of Singapore (ABS), PayNow was a direct response to an increased demand for a more convenient and efficient way of transferring fees and receiving funds.

PayNow is overseen by the Monetary Authority of Singapore (MAS) and offers an enhanced funds transfer service that allows customers of fourteen PayNow participating banks to send and receive Singapore Dollar (SGD) funds from one Singapore bank account to another. These participating banks include, but are not limited to, Citibank Singapore Limited; DBS Bank/POSB; HSBC; Maybank; OCBC Bank; Standard Chartered Bank; and United Overseas Bank.

Any customer and businesses can register for the PayNow service by simply using their Singapore-registered mobile number, Singapore National Registration Identity Card or Foreign Identification Number, UEN business registration number or Virtual Payment Address. Users can then transfer SGD funds from one bank account or e-wallet account to another through the Fast and Secure Transactions (FAST) network. This is a regulated and standardized payment rail that ensures safe interoperability between payment providers.

A QR Code can also be created for you when using the PayNow Mobile proxy. It is available once you register your mobile number with PayNow via DBS/POSB digi bank/iWealth and can be shared to receive funds easily via your PayNow registered mobile number.

When linked to other neighboring countries’ payment providers such as Stripe, DuitNow, UPI and PromptPay, PayNow provides an innovative opportunity for Singaporeans to instantly make cross-border payments and vice versa in countries such as Malaysia and Thailand.

The trusted payment service is available 24/7, 365 days a year and saves costs for customers, as the fee is considerably lower than cards in Singapore.

If you think depositing a PayNow payment is easy, withdrawing fees from PayNow casino sites is even easier! PayNow is known to be one of the most effortless banking methods for withdrawing winnings. This is because you can receive fees securely at any time, and at the click of a button, by using your very own mobile number. It also comes with added safety to ensure that players get their funds in real time and without any issues. So, follow these three steps for a quick, secure and easy withdrawal method:

• Step 1: Log in to PayNow - Log in to your bank account's existing internet banking platform or mobile banking app.
• Step 2: Link your mobile number - At the PayNow registration screen, link your mobile number, or Singapore National Registration Identity Card or Foreign Identification Number to your bank account number. An SMS OTP will be required to be entered.
• Step 3: Identify yourself - The final step calls you to enter a name that PayNow casino sites will identify you with. You are now set up to receive funds instantly!

PayNow Withdrawal Limits

PayNow has a minimum withdrawal limit of S$50 per transaction. Additionally, the limit for daily withdrawals stands at S$200 000 for winners, while withdrawal limitations for monthly fees are S$2 700 000.

PayNow Processing Fees and Times

In terms of the details around the processing times of deposits and transfers, you will find that PayNow is one of the most convenient services out there. To illustrate this point, let us break this down into further detail. We will be looking at transfer processing times, withdrawal processing times, and fees:

With regards to the transfer processing times with PayNow, we first need to look at the different transfer mechanisms that PayNow affords you - as these function in different ways.

1. Starting with the standard PayNow – This payment mechanism uses a mobile number, or Singapore National Registration Identity Card or Foreign Identification Number Virtual Payment Address in which you scan your PayNow QR code. The transferral processing time is almost immediate and operates on a 24hr, 7 days a week, around-the-clock basis. Anywhere and anytime!
2. Moving on to PayNow Corporate. This transactional method is very similar to the standard PayNow. This payment mechanism utilises the Singapore Virtual Payment Address Scan Singapore Quick Response Code or PayNow QR code with the transferral processing time also being almost immediate. PayNow corporate operates on a 24 hour , 7 days a week basis.

Now, let us look at the withdrawal processing time:

1. Similar to the transferral processing times, once the money has been sent to you, you are able to withdraw almost immediately!
2. Once the withdrawal has been submitted, you will be able to collect the money instantly. Please note that the amount must be collected within 48 hours of the submission. This is done free of charge.
3. For online withdrawals, you can withdraw by directly crediting your registered bank account. This process is also also immediate and is charged at a rate of (S$0.14) per transaction.

If you are wondering whether PayNow online casinos offer bonuses, the answer is yes! The type of bonuses PayNow online casinos offer may vary, and every online casino may develop different and unique ways to attract players.

The most common kinds of bonuses may include a Welcome or Deposit bonus - highly rewarding bonuses. For Welcome bonuses, online casinos provide players with a bonus upon signing up, whereas deposit bonuses entail a match amount on a first payment deposit.

As much as players from Singapore love any online casino game, Singaporeans are also very fond of claiming generous bonuses. There are several ways online casinos can give you a bonus while making sure you can't benefit from it. This is why it is crucial to read the terms and conditions of every bonus offer beforehand to avoid disappointment.

Opening an account with PayNow is relatively easy and can be done using the following simple steps:

Registering with your mobile number

• Step 1 - Starting off with the process of registering with your mobile number. Log in to your digi bank mobile with your Touch/Face ID or digi bank user ID and Pin.
• Step 2 – Tap on the Pay and Transfer , then select PayNow.
• Step 3 – Once you have selected PayNow, tap on your profile and select to register your mobile number.
• Step 4 – Add and confirm your correct mobile number. Once you have done that, enter your preferred PayNow nickname, and select the account to which you wish to link to your PayNow. Afterwards, tap next.
• Step 5 - You will receive an OTP number sent to your registered mobile number. Enter this OTP number and then tap Submit to complete the registration.
• Step 6 - You have now completed your PayNow registration with your mobile number.

Registering with your Singapore National Registration Identity Card or Foreign Identification Number

To register with your Singapore National Registration Identity Card or Foreign Identification Number, the process is quite similar to registering with your mobile number, with slight differences. See below:

• Step 1 - Log in to your digi bank's app with your Touch/Face ID or digi bank user ID and Pin.
• Step 2 – Tap on the Pay and Transfer , then select PayNow.
• Step 3 – Once you have selected PayNow, tap on your profile and select to register your Singapore National Registration Identity Card or Foreign Identification Number.
• Step 4 – Add and confirm your Singapore National Registration Identity Card or Foreign Identification Number. Once you have done that, enter your preferred PayNow nickname, and select the account to which you wish to link to your PayNow. Afterwards, tap next.
• Step 5 - Confirm that the details are correct and tap Register Now.
• Step 6 - You have now completed your PayNow registration with your Singapore National Registration Identity Card or Foreign Identification Number.

Although PayNow is one of the most convenient, secure and user-friendly payment services for any online casino, most Singaporeans use credit cards to conduct payments - having a VISA as the key brand of choice. As for digital payments, there are other means of deposit methods such as PayPal and eNETS.

• VISA - This deposit method is known to be one of most trusted online casino payment methods around. It’s available all over the world and can be used for securing deposits at the best-rated online casinos.
• PayPal - Paypal has been the most widely-used online casino payment method for a long time. It's features include fast payment processing, an easy-to-use platform, and the acceptance of Paypal worldwide - which are the core reasons for its success as a secure funds transfer service.
• eNETS - An electronic payment service for customers, institutions, and merchants. eNETS’ services include credit and debit card payment through internet banking. However, eNETS is not very often used for eCommerce payments, because it is not optimised for such transactions, and it does not offer an opportunity for mobile use.

By seeing how various and popular online casino deposit methods compare against each other, you can weigh the pros and cons of each to find the payment method that best suits you!