Multibanco

Multibanco is the shared interbank network used across Portugal for cards, ATMs and online payments. For online deposits it typically generates a payment reference (entity and reference number) that you settle through your bank app, ATM or home banking; deposits confirm once the reference is paid.

It is a Portugal-specific rail, so its usefulness depends on the betting site accepting Portuguese customers. It is generally used for deposits rather than withdrawals.

Anyone from Portugal should be quite familiar with the sophisticated network of Multibanco ATMs. In fact, you may only realize how spoiled you are when you leave the country; ATMs in other countries pale in comparison to the services offered by Multibanco. Beyond just dispensing cash, Multibanco machines sell tickets to events, facilitate instant bill payments and much more.

But, Multibanco does more than just provide us with fancy ATMs. The group also operates a comprehensive online payment system that people can use to transfer money and make payments online. Not surprisingly, Multibanco betting sites are quite popular in Portugal. This is a longstanding and well-respected institution with a history of safe transactions.

How to Deposit With Multibanco

Making a deposit with Multibanco is an easy process. The steps below describe the MB NET virtual card generated in MB WAY, which is a different route from the Multibanco payment reference described above. You will need the MB WAY app, which is now where MB NET virtual cards are generated, linked to your own bank card. Then, you will be issued a virtual debit card (complete with expiration date and CVV code) that you can use wherever its own card scheme is accepted. The exact branding of your card will be determined by your bank.

You can create a card for repeated use at a single merchant or a one-off card that is good for just one transaction. The multi-purchase card can be used repeatedly, so it suits a run of deposits at one betting site; MB WAY recommends it if you make regular purchases with a single merchant.

Multibanco is inherently safe as it is backed by a major banking institution, but the single-use card provides an even greater level of security because it can be used exactly one time. If someone were to somehow get the information on your virtual card, the most you could possibly use is whatever happens to be on that card at that moment.

When you’re ready to deposit, you can visit your favorite betting site and sign up for an account like nomal. Then, log in to the cashier and select credit/debit and give them your card information. Visa and MasterCard are the most widely-available brands. American Express can be used at some betting sites, but it isn’t quite as widespread as the others.

Advantages

Multibanco deposits provide several advantages over other funding methods for online gaming. One is the simple fact that Multibanco is highly secure thanks to the large institutions that support the service. Additionally, it is always safer to use a virtual card that you cannot lose. Your virtual card works just like a physical card except it exists only online.

A secondary advantage is the ease of managing it. You can open MB WAY any time to create an MB NET card, choose how much to load on it and spend only that amount. Everything is integrated with your existing bank so transactions are processed quickly.

Third, Multibanco is a mainstream rail in Portugal and MB NET cards work wherever their underlying card scheme is accepted, though whether a given betting site lists Multibanco still depends on it serving Portuguese customers.

Disadvantages

It is difficult to come up with any major disadvantages for this particular deposit method. The only thing that comes to mind is the initial setup adds on extra step to the deposit process. Before you use an MB NET card, you must create it in MB WAY and set the amount to load on it. However, it is a stretch to call this a real downside. Getting everything set up and ready to go only takes a few minutes.