Boleto or Boleto Bancario is a very popular online payment service that exclusively targets residents of Brazil. It is safe and secure and allows you to carry out any online transaction without a hitch.
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Most Brazilian players participating at online casinos prefer to use Boleto as a deposit method. It acts as an interface between a local Brazilian bank and the online casino. That’s why there are more than 90 online casinos accepting Boleto as a deposit method because of this reason.
How Does Boleto Bancario Work?
To use Boleto, you need to be a resident of Brazil and have an account in a local bank that has partnered with this online payment service. What makes Boleto such a hit in Brazil is that it allows you to buy casino credits with cash, instead of just with credit cards or by internet banking.
Depositing money with Boleto is as easy as it gets. First, make sure if the online casino you’re playing at accepts this method or not. If yes, then simply choose the Boleto icon in the payment gateway. You will be taken to a secure bank webpage from there, where you can enter the payment details safely and privately. The casino has no access to this information.
Boleto charges a transaction fee of 6 to 8 percent. Once the money transfer is done and the funds arrive at the casino, they have to be manually credited to your casino account. So the fund transfer is not instant, but it is safe and reliable.
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Advantages of Boleto Bancario
- Safe, Secure and Private
Boleto Bancario is easily one of the most secure ways of transferring funds to your online casino account. Using this deposit method makes a lot of sense if you’re worried about online safety as none of your sensitive bank or credit card details are made available to the casino. The transaction can also be performed by cash.
Disadvantages of Boleto Bancario
- Limited Service
The biggest drawback of this deposit method is that it is only available to residents of Brazil. So if you’re not from Brazil, it’s no good to you. Use an e-wallet or credit card that is available in your country instead.
- Not Instant
The money transfer made with Boleto is not instant. The money is first sent to the casino, and not directly to your casino account. The casino staff then manually transfer the money to your casino account. The entire process can take one or two business days.
Boleto Bancario is certainly expensive compared to other deposit methods. It charges a transaction fee of 6 to 8 percent, which is on the high side. This is a big disadvantage.