MiFinity is a UK-based company that offers high-quality online banking services worldwide, including New Zealand. The company's portfolio consists of virtual card programs, prepaid cards, e-wallets, and e-vouchers, catering to businesses, consumers, and casino gamblers alike. MiFinity is widely accepted in various well-known online casinos on the market due to its convenience and fast processing time of transactions.
✓ MiFinity offers instant deposits
✓ Fees for casino withdrawals of up to $2.50
✓ Supports over 17 currencies
✓ Multiple ways to fund the account
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MiFinity was established in 2002 to provide different cost-effective end-to-end payment solutions. In addition to its Belfast headquarters, MiFinity maintains regional offices in Dublin and Malta. With over 20 years in the online payment space, it strives to become the industry leader in online payments. MiFinity offers a comprehensive product portfolio tailored for businesses, merchants, and consumers. This banking option also offers various services and cards, such as virtual and prepaid card programs, an e-wallet, and an e-voucher. Supports over 17 currencies, including NZD and various cryptocurrency tokens.
Besides, MiFinity’s partnership with BitPay supports the conversion of cryptocurrencies like Bitcoin and Bitcoin Cash into usable funds. Finally, it provides an opportunity for gamers seeking alternatives to standard bank or card deposits, however, the availability may vary by platform. Additionally, by bypassing conventional banking routes, MiFinity helps reduce processing delays and hidden fees often associated with bank transfers.
Another advantage of MiFinity is that it provides quite fast transaction, which is especially crucial in gambling. Deposits are usually processed instantly, with minimum amounts ranging from $10 to $20 (or equivalent) and maximum limits around $4,500.
MiFinity withdrawals, on the other hand, take up to 24 hours on average. However, the withdrawal time may vary and even be extended depending on the specific online casino processing procedures. The minimum withdrawal amount starts around $10, and the maximum withdrawal limit can go up to $10,000, depending on the platform and the preferred currency.
Despite all the pros of MiFinity, its services are not free. MiFinity charges additional fees for deposits, they can vary from 1.8% to 10.5% depending on your payment method. Yet, for SEPA bank transfers, all transactions are free. MiFinity applies a withdrawal fee that typically is up to $2.50 per transaction. Online casinos or platforms may impose additional withdrawal charges, so checking their specific terms and conditions regarding MiFinity fees is essential.
Limit | Time | Fees | |
---|---|---|---|
Minimal Deposit | $10 | Instant |
SEPA Bank Transfer — free 1.8% — cryptocurrency from 1.8% to 10.5% — other methods |
Maximal Withdrawal | $10,000 | 24 hours |
1.8% — cryptocurrency 2% — bank transfer 2.99% — currency conversion $2.50 — per transaction |
This step-by-step guide, designed by Charlotte Wilson, an experienced gambling expert, will simplify the process of depositing and withdrawing money at online casinos using the MiFinity payment system. It covers everything from setting up your MiFinity account to cashing out your winnings.
Since MiFinity payments are regulated by the Financial Conduct Authority in the UK and by the Malta Financial Services Authority in the EU, users are obliged to complete the KYC process before starting to use the service. The verification of customers is essential because it's a part of an anti-money laundering measure.
To complete the KYC, you will need to provide your ID (passport/driver's license), proof of residency and funds source. Note that the verification process can take between 24 to 48 hours. Once they are successfully processed, you will receive an email notification and your profile will show as verified.
MiFinity holds licenses from the UK's Financial Conduct Authority (FCA) and Malta's Financial Services Authority (MFSA). Renowned authorities enforce rigorous customer protection, ensuring they receive a secure and trustworthy service. Moreover, MiFinity uses security features such as Strong Customer Authentication, SSL, and fraud monitoring software like Riskified and Signifyd.
Here are the key security features put in place by MiFinity to ensure finances and information of online casino players are protected:
MiFinity is mobile-capable on both iOS and Android devices. MiFinity users can access services on the go through a dedicated mobile app. The MiFinity mobile app is available on the App Store for iOS devices and the Google Play Store for Android devices. iOS users can enjoy the app on devices running iOS 11.0 or later, including iPhone, iPad, iPod Touch, and Mac. On the Android platform, the MiFinity app is compatible with devices running Android 5.0 or higher.
The BetPokies team summarised all the advantages and potential drawbacks of MiFinity to help you see the whole picture of this payment method. Let's get into it.
Whether you have inquiries, need assistance with security measures, or have general questions about the platform, MiFinity offers various channels through which you can reach its support team. Here are the different customer service options available:
Our team created a list of interesting tips that can help you to improve your online casino experience. Let's take a closer look at them.
In addition to basic transaction alerts, check if MiFinity allows you to set up custom alerts or even daily/weekly spending limits. This will help you to proactively manage your gaming budget by ensuring that you are alerted if you get close to your set limits.
If you wanted to try some new banking options that would be similar to MiFinity in their convenience and speed, the BetPokies team prepared a list of several methods to consider.