Swish

Swishing someone is the new trend, and everyone is doing it – at least over half of the population in Sweden so far, which isn’t a small user pool as it is. With the rise of e-commerce and a growing number of all sorts of merchants, many businesses ventured to get a piece of the pie, and those in Sweden are not far behind this endeavor either.

To make things clearer, the term ‘swishing’ came about from one of the latest Fintech solutions presented on the Swedish market – Swish. With the company Getswish AB behind it, and a conjunction of the six leading banks in the country practically coming together for the foundation of the product, it has quickly risen to the top of popular online payment methods. What made it even more attractive is the fact that it is optimized for the most common smartphone OSs – Android and iOS – with dedicated applications that can be downloaded from their respective app stores.

Just make sure you hold a bank account with one of the following banks, founding members included – Danske Bank, Handelsbanken, Länsförsäkringar, Nordea, SEB, Swedbank and Sparbankera, Forex Bank, ICA Banken, Skadia, Sparbanken Syd, Ålandsbanken – and get the Mobile BankID for confirmation purposes, and you’re good to go.

What is Swish?

The payment processing product was first offered with the intention of allowing customers to handle small personal payments, like gifting someone, paying back a loan, or just splitting checks in restaurants. However, its benefits were identified by numerous retail platforms across the Swedish online marketplace, online gambling sites included, and it was made available as a business solution for payment processing soon after its establishment.

Nowadays, players at top online casino sites such as LeoVegas and PlayOJO are able to make extensive use of Swish to process deposits and withdrawals. Just make sure to get all things necessary for it – the app, Mobile BankID and a bank account – and follow the few simple steps as explained below.

Swish Facts

Payment Type	Mobile Payment
Country	Sweden
Launced	2012

More Swedish Payment Methods:

How to Deposit with Swish?

The first thing Swedish gambling enthusiasts ought to do is check which of their preferred casino sites offers the payment method in their Banking section. This shouldn’t be a problem these days, with the growth of Swish’s partner network. Once you find a suitable operator, register and log in to your account, and select Swish from the list of deposit banking options.

This will open a window where you will need to fill out information such as phone number and funds amount. Swish automatically connects to your online banking and obtains the specified sum, but before they are transferred to your casino player account, players need to confirm the transfer using the Mobile BankID app for security purposes.

Once you do that, the funds will appear in your casino wallet, ready for use. Alternately, you can choose to deposit with a QR code – simply approve the app’s use of your smartphone’s camera and scan the code for your online casino transaction.

How to Withdraw

Starting January 1st, 2019, Swish has additionally enabled users to make withdrawals via their service. This goes for online casino cashouts as well as other incoming transactions from businesses alike, just like it did for personal peer-to-peer transfers. The process is more or less the same, only with the funds going in the opposite direction.

Transfer Times, Fees, and Security

Considering the fact that the service is actually supported by the banks where players hold accounts, you shouldn’t expect great delay in terms of payment processing. Normally, transactions are performed in real time, as soon as you confirm it via Mobile BankID. An even happier circumstance is the lack of fees – individuals are not charged anything for using the service, while businesses listing it as a payment option face only minute costs of 1.5-2SEK. In this line of thought, you should know that transaction limits are just as convenient, even for the high-rollers out there. Transactions of value up to 20,000SEK (approximately $2,200) are allowed, although some can go up to 150,000SEK ($16,485).

Ultimately, the matter of security is hardly a concern for Swish users. With the major banks in the country practically coming together to make this product a reality, and the use of Mobile BankID to prevent identity theft or fraud, players can relax and enjoy their online gambling experience safely and seamlessly at all times, everywhere.

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Swish

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Transfer Times, Fees, and Security

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