How Does MiFinity Work?
Like other eWallets, MiFinity requires an account, which you can create on its website or through its iOS or Android app. Add funds using a bank account, card, or another supported payment method, then use the wallet to deposit or request withdrawals at casinos that accept it.
Security
MiFinity is presented as a UK-based eWallet licensed by the FCA. The service says it protects funds and account access with SSL encryption and 2-factor authentication. When you sign in, a verification code is sent to your mobile phone for you to enter.
Types of Services
MiFinity’s primary service is its eWallet. A standard account allows transactions totaling up to $2,000 per year. Completing verification can increase the stated annual cap to $10,000.
To verify an account, you must submit identification and other documents for identity checks. This step can take up to 48 hours.
Availability and Currencies
MiFinity’s reach is one reason online casino users may consider it: people in over 180 countries can open an account. The wallet supports over 50 currencies, including USD, CAD, EUR, GBP, AUD, ZAR, and NZD.
Making a Deposit Using MiFinity
After funding your MiFinity wallet, select it at checkout if the casino offers it as a deposit method. The casino redirects you to a MiFinity sign-in page. Once logged in, you can pay from your wallet balance or use a credit or debit card linked to the account.
Withdrawals Using MiFinity
A casino that accepts MiFinity deposits may also support wallet withdrawals. To request one, select MiFinity during the casino’s withdrawal process, sign in to your wallet, and confirm the payment.
At that point, the casino receives your withdrawal request, but payment is not immediate: the casino must approve it first. Approval can take up to a couple of days in most cases. After approval, the funds are expected to reach the MiFinity account instantly.
Fees and Limits
Using MiFinity may involve charges when you add money to or withdraw from the wallet, even if the casino itself does not charge a fee for the payment method. The amount depends on how the transaction is made. For example, a review gives a 1.8% flat fee for funding by Visa or Mastercard from within the EEA. MiFinity’s website has the full fee schedule.
Pros and Cons of Using MiFinity
The range of casino payment methods comes with trade-offs. One review highlights MiFinity’s support for cryptocurrencies as a key benefit, while noting that users pay fees when funding or withdrawing from their accounts. Some eWallets charge for only one of those transactions. Overall, MiFinity is another option for online casino players moving funds into and out of casino accounts.
Advantages
- Account setup is straightforward
- Transactions are described as lightning-fast
- Cryptocurrencies can be used to fund the account
- Described as a highly secure payment solution
- More online casinos are accepting it
- Available in over 180 countries
