Multibanco Banking

Multibanco is an interbank network in Portugal, which is owned and operated by Sociedade Interbancaria de Servico, or SIBS for short. Multibanco's services are widely used in Europe and Africa, with approximately three billion transactions with a total value exceeding 4.5 billion every year. They've won numerous awards for their innovative payment solutions helping more than 300 million consumers in their day to day transfers. T&C's apply to all bonus offers on this site. Click for a list of all banking methods.


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Multibanco

How It Works?

Multibanco is essentially a network of ATMs in Portugal, representing 27 different banks. In 2014, there were over 12,700 ATMs available with over 60 different services, including prepaid mobile phone top-ups and show ticket sales, just to name a few. For the time being, let’s take a look at how you can pay using Multibanco in order to deposit on an online casino.

It all starts with finding a casino that accepts transfers via Multibanco and selecting it as a payment method. Now, you have two options to fund the transfer, either using their Internet Banking app or finding the nearest ATM and completing it there. Multibanco's app works like any other e-wallet solution, but if you're new to their ATM system, then here's how it works.

From the ATM, you have to select Multibanco and enter the online shop's or casino's 5-digit reference number. After that comes the 9-digit customer reference number and the total amount of purchase or deposit.

Security

Multibanco isn't keen on sharing their security solutions. In general, though, Multibanco has a proven track record without any major mishaps in the past. Also, considering the number of loyal customers and its dominant position on the market, the company is without a doubt one of the more trustworthy payment operators out there.

Both of the payment options mentioned in the paragraph above are quite secure in nature and provide a level of anonymity. For example, using Multibanco's online solution, you can pay without giving away your credit card number to the merchant, which is especially useful if you don't fully trust them or their methods of protection.

Banking

Multibanco's fees depend on your home bank's list of charges applicable to the ATMs. That said, probably your cheapest option would be to use Multibanco's online payment app, as it's free. But remember, funding your e-wallet can result in charges depending on your home bank as well.

Summary

Multibanco is an interbank network that links the ATMs of 27 banks in Portugal, provides online payment solutions via MB NET, as well as mobile payments via MB PHONE and MB WAY. The company was established in 1985 and is used by millions of consumers every day.

Click here to visit Multibanco website.

Posted by CCJ Team