POLi Betting Sites
POLi is a safe online payment solution that allows Kiwis and Aussies to pay at various online retailers. The payment system is unique because it is not connected to your credit card and does not store your funds. Instead, POLi facilitates online banking transactions. Using POLi is not only safe but also stress-free. You only need an online banking account with a participating financial institution. Luckily, many reputable banks and financial institutions support POLi.
POLi is a cost-effective service, allowing consumers to make payments at no cost. Users do not need to disclose their bank credentials to transfer funds to an online merchant. That is among the primary reasons why POLi enjoys great popularity among sports fans residing in Australia and New Zealand.
Since its inception in 2007, POLi has been looking to establish itself as a leading payment service in Australia and New Zealand. That is why POLi has never stopped improving itself. In 2013, the payment solution started operating with mobile banking apps, providing users with convenience and flexibility. A growing number of well-established online sportsbooks geared toward the Australian and New Zealand market accept payments via POLi.
The company behind the payment service is POLi Payments Pty Ltd, formerly known as Centricom. It is based in Melbourne, Australia. In December 2014, SecurePay Holdings, a subsidiary of Australia Post, acquired POLi Payments.
How POLi Functions?
The process of transferring funds from your online banking to an online merchant has never been easier than now thanks to POLi. Unlike eWallets, POLi does not hold your funds. It only allows users to make real-time online payments using their Internet banking. When you use POLi to pay online, the money is directly transferred from your bank account to the online merchant.
The payment service enjoys wide acceptance, meaning that many online merchants support POLi. That is not surprising considering the advantages the payment service offers. One of them is that online merchants and customers receive a completed payment notification when the payment is confirmed. Moreover, POLi gives online merchants the option to create a URL through which payments can be processed.
The payment service does not require its users to set up a separate POLi account. To use POLi, you should have an online banking account with a financial institution that supports the payment service. The Australian banks that accept POLi include the Bank of Melbourne, Bendigo Bank, Citibank, Commonwealth Bank, St. George Bank, and others. Kiwis who have an online banking account with any of the following banks can use POLi: ANZ, ASB, BNZ, The Cooperative Bank, TSB, Westpac, and Kiwibank.
Opening an Account
Since the payment service acts as an intermediary between the sender of the funds and the recipient, opening a POLi account is not required. That is one of the advantages this payment service offers because it saves you the trouble of remembering login details. Furthermore, the registration process can be time-consuming and tedious. But with POLi, you will avoid it. However, if you are a merchant, you have to set up a POLi account to have the right to take POLi payments. More information on the matter is available on POLi’s official website.
Depositing to Your Sportsbook Balance
Unlike eWallets that have to be funded in advance, POLi allows you to make online payments as long as you have sufficient funds in your online banking account. If you are a sports fan who likes to bet online, you will be delighted to learn that a good-enough number of reputable betting sites accept POLi payments. Topping up your sports betting account via POLi is a breeze.
The first step is to find a sportsbook that supports this payment solution. After that, you have to register with it and navigate to the cashier section. Then, select POLi as a preferred payment solution and enter the amount you want to deposit. You will see a drop-down menu that will allow you to choose your bank. Then, log into your online banking account and select the account you want to use for the transaction. Once you confirm the payment, you can place a bet immediately.
Keep in mind that online bookies apply minimum and maximum deposit limits. These vary with the different online sportsbooks and payment solutions. The limits are usually clearly displayed under the selected payment solution.
Withdrawing from Your Sportsbook Balance
A major drawback of POLi is that it does not process withdrawals. That is because it is not an independent payment solution per se, but rather a proxy pay service. However, if you deposit via POLi, you can withdraw your winnings directly to your bank account. To do so, log into your sports betting account and visit the cashier.
Select Bank Transfer from the list of payment solutions and enter the amount you wish to cash out. You will be required to provide your bank account details (BSB and account number). The BSB is a six-digit number that punters can find in their online banking accounts. The funds have to appear in your online banking account within 3 to 5 days. After that, you can withdraw the money from an ATM.
Online sportsbooks take 1 to 3 days to review and approve withdrawal requests. In rare cases, the pending period may reach up to 7 days. In the sportsbook’s terms and conditions section, you can see the minimum and maximum limits on withdrawals.
Cost and Fees
When looking for a suitable payment solution to fund your sports betting account, you have to pay attention to the fees that may apply. POLi services are fee-free for physical users. Next to that, online bookies allow their patrons to fund their accounts via POLi at no cost. That is why many sports fans residing in Australia and New Zealand opt for POLi when depositing funds to their betting accounts.
Keep in mind that your bank can impose fees on online financial transfers. Moreover, if you decide to withdraw your profits from an ATM, a fee might apply, especially if you use an out-of-network ATM.
Some of our readers might wonder how POLi makes money since its services are free. The answer is that the payment service is free for physical users only. Online merchants have to pay a fee of 1%, but no more than AU$3 per completed transaction. Compared to other payment services such as PayPal, POLi has the lowest fees for online merchants.
Security and Privacy
POLi is a proxy server. This means that when you make online payments, you access your Internet banking via the POLi servers. The payment option does not allow anyone to see your online banking login credentials. Furthermore, POLi does not store usernames and passwords, meaning that your login credentials are immune to cyber-attacks during a POLi transaction.
POLi adheres to the highest security standards and holds an ISO certificate. This is more than indicative of its reliability. Recognized security firms test POLi’s safety regularly. Besides, the payment service utilizes 2048-bit SSL encryption and HTTPS. What makes the payment service even more secure is the lack of a registration requirement.
The payment solution is supported by some of the most trusted financial institutions in Australia and New Zealand. That further proves its trustworthiness. POLi offers outstanding customer support services available during the weekdays from 8:30 to 17:00, Melbourne time.
Although POLi has taken various safety measures, some banks shared their concerns regarding the security of the users’ online banking login credentials. One of New Zealand’s banks, ASB Bank, published a release in which the financial institution stated that POLi captures customers’ sensitive information and the risk of fraud is very high. ANZ and Kiwibank stated that they are not liable for any losses if the customer uses POLi’s services.
Advantages of POLi
POLi is a proxy pay service that has gained great popularity due to the advantages it offers. The payment option does not require its users to set up an account. We all know how annoying and frustrating the registration process can be. You only need to set up an online banking account with a bank that supports POLi and memorize your login credentials.
Since you do not have to register with POLi, the payment service cannot apply registration and maintenance fees. In fact, POLi services come at no cost for physical users. So, if you are looking for a payment method that will not charge you every time you fund your sports betting account, POLi is a perfect choice. Most online sportsbooks do not apply fees to POLi payments.
When using POLi to make online payments, you will be prompted to log into your online banking account. However, the payment service does not store information. Moreover, POLi does not require its users to provide credit/debit card details. This way, POLi eliminates the possibility of a data breach and credit card fraud.
POLi partners with reputable banks only, meaning that it is reliable. Furthermore, it employs various safety measures, including SSL encryption, HTTPS transport-level security, and multiple layers of firewall security.
You do not need to have some in-depth knowledge to use POLi. The payment service is designed to facilitate online banking transactions. Next to that, payments via POLi are processed instantly. This means that if you want to make a last-minute bet, use POLi to fund your account.
Disadvantages of POLi
Nothing is perfect in this world. While it is true that the advantages of this payment service outweigh the disadvantages by far, we have to discuss POLi’s negative aspects. This way, we will give our readers a clearer picture of the payment method.
At the moment, POLi serves the needs of Kiwis and Aussies. Hence, it supports two currencies only, including AUD and NZD. This means that if you reside outside Australia and New Zealand, you cannot use POLi to make online payments.
As mentioned above, you need an online banking account with a participating bank to use POLi. So, if you are using the Internet banking services of another financial institution, you have to change your bank to be able to pay online via POLi.
POLi’s major disadvantage is that it does not support withdrawals. So, if you fund your sports betting account via POLi, you will be required to select an alternative payment solution to cash out your earnings. Luckily, most online sportsbooks support various payment solutions. Probably the most convenient way for you to withdraw your sports betting winnings will be through a direct bank transfer.
Although POLi has an effective customer support department, it is not available around the clock. Furthermore, the payment method does not support live chat customer support services. On the other hand, POLi users can contact POLi’s customer support representatives by email or phone.
Conclusion
POLi is a proxy pay service supported by many trusted banks in Australia and New Zealand. Its goal is to provide consumers with an easy and budget-friendly way to make online payments. Furthermore, payments via POLi are processed safely, without any risk of unexpected financial loss as a result of fraud.
Many sports fans use POLi to deposit funds into their betting accounts because payments are processed instantly. Furthermore, bookies do charge punters for depositing via POLi. The only downside of the payment service is that it cannot be used for withdrawals. However, this is not a big problem because you can withdraw your winnings directly to your bank account or use an alternative payment solution.