Mifinity online casino

What is MiFinity?

You will notice that lots of online casinos accept MiFinity for both top-ups and cash-outs. So, what exactly is MiFinity?

MiFinity is an electronic wallet service owned by MiFinity UK Ltd. Online since 2016, this payment method has carved a niche for itself in several countries, including Australia.

MiFinity is perfect for swift and secure online transactions. That’s why a good number of Aussies prefer the payment gateway over many others.

Aside from that, MiFinity supports a host of popular currencies. It is among the few solutions that support cryptocurrencies as well.

Interestingly, MiFinity is relatively easy to use when it comes to making online payments. It has great features engineered toward delivering fast payments.

MiFinity UK Ltd offers a wide range of services that Australians can take advantage of. However, the most popular one is its electronic wallet. This service lets you transfer funds to other MiFinity users globally.

Interested in using MiFinity for your online casino payments? Check out the information we put together for you below.

Why is MiFinity prefered for casino deposits in Australia?

MiFinity is a very convenient payment solution accepted at most gambling sites in Australia. There are plenty of reasons for this

First, the e-wallet is licensed by both the Malta Financial Services Authority and the Financial Conduct Authority. So, most online casinos and players in AU deem it safe and highly reputable.

Secondly, MiFinity supports a plethora of currencies, including crypto. It continues to accommodate players and casinos with different payment preferences.

Aside from that, the payment gateway has widespread availability globally. Therefore, Australian players tend to use it more since it’s accessible in over 180 different countries.

MiFinity recently rolled out its e-voucher payment service that is usable at various online casinos. This provides the much-needed convenience and flexibility when choosing an ideal payment solution for iGaming.

Finally, the company’s e-wallet service is the most commonly used solution. This is because it makes for a great payment alternative for global transactions.

“MiFinity supports several currencies, including crypto”

How to fund your casino account with MiFinity

If you are looking to instantly top up your casino account, you can always rely on MiFinity. Besides, the account set-up process is quite simple and should take no more than 10 minutes to complete. MiFinity lets you add funds to your account swiftly without exposing your sensitive information. You simply need to follow the following steps to make a MiFinity casino deposit.

MiFinity Fees

MiFinity currently does not impose fees on account creation. However, you will incur some charges when adding funds or withdrawing from your account. MiFinity transaction charges solely depend on your preferred payment method for deposits and withdrawals.

Loading your e-wallet with funds through traditional options costs a lot less. However, you may have to wait a tad longer for the funds to reach your MiFinity e-wallet. The charges when you use MasterCard or Visa range from 1.8% to 4%.

You may opt to top up your e-wallet through bank wire transfers. Nonetheless, you still have to incur some charges for such transactions. The fees cost anywhere between 1.8 and 4.5% of the amount in question. Those that use Sepa Bank Transfer are however exempt from these charges.

Apart from wire transfers and banking cards, MiFinity accepts top-ups made using cryptocurrencies. Notably, adding funds through cryptocurrencies will cost you up to 1.8% of the amount transferred. The best part about this kind of transfer is the speed of transactions.

When cashing out of a MiFinity account, you’ll also incur fees depending on your preferred mode of payment. For other e-wallets and cryptocurrency cash-outs, you will incur 4.5% in fees. This is relatively fair considering the speed of transactions.

On the other hand, you can opt for bank cards and wire transfers. The charges here range from between AU$ 1 and AU$ 2.

Transferring money to other MiFinity users is also not free. Notably, you will incur up to AU$ 10 per transaction. MiFinity will however not charge you any fees for funds you receive from other users.

Lastly, your MiFinity account is free for private use. Failure to log into it for one year renders it inactive. Moreover, you will incur AU$ 1 per month of inactivity.

MiFinity Variations

MiFinity, like most payment solutions, has variations of services offered. Besides, everyone has their needs when it comes to online payment solutions. For this reason, every MiFinity product is tailored towards the various needs of all users.

The following are the different variations of MiFinity products available in Australia.

• MiFinity e-wallet: This is the most commonly used product from MiFinity. It involves account registration and is available for casino deposits and withdrawals.
• MiFinity e-voucher: This is a prepaid card service that doesn’t need account creation. MiFinity vouchers are available at various global resellers. Also, it gives you more control over your funds and how you spend them.

Pros

• Quick transactions
• Safe online transactions
• Offers various popular currencies
• Easy account creation process
• Available at various online casinos in AU

Cons

• Comparably high transaction fees
• Relatively high currency conversion fees

Did you know?

MiFinity reported a 1300% growth in transactions in 2021.