If you have been browsing and gambling in different casinos and betting sites in Australia, you must have seen the term POLi pop up many times during payment transactions. You may know a lot about this payment option or not. Either way, we will get into details about POLi in this article!
Here, we will explore the different betting payment methods that are available to Australians, why POLi is a popular choice in the Aussie betting industry, and how it works in general.
We will also teach you how you can make deposits and withdrawals through this payment gateway, including how safe it is for usage, the advantages and disadvantages of using it, and other relevant alternatives. Hope you learn heaps!
There are several ways to make deposits and receive withdrawals from Australian betting sites as Aussies like to rely on local payment methods over international alternatives. However, betting sites may choose to offer different types of payment options, which may confuse the bettors at some point.
Having said that, POLi is a common payment method on most Australian betting sites. If you like to hover around Australian betting sites, you will notice most of them accept POLi payments. Since POLi has become a universal payment option in Australia, a lot of establishments are using it to transfer funds on a daily basis.
Backed by the Australia Post office Melbourne, POLi is a popular choice in the Australian betting industry. You can have your funds transferred immediately with no waiting time, and get notified in real-time. All the big banks in Australia Zealand are using POLi now. So, you can make payments without needing your credit card or bank account information.
Furthermore, betting sites that accept POLi in Australia know that the payment system is secured with HTTPS. Therefore, POLi payment doesn't store any personal information of yours, and you don't have to worry about your precious data getting stolen by third parties.
Besides, if this is your first time using POLi, onboarding and integration are super easy and immediate with the payment platform. During transactions, there is no need for data entry for merchants and customer information.
In fact, POLi payments involve no surcharge or credit card fees, which makes it a popular choice for many Australians and New Zealanders.
How to Setup POLi Payments
Firstly, log in to your local bank account that accepts POLi payments in Australia. You have to select the internet banking option from the menu and move towards the selection that reads POLi. There is no need for you to create an account with POLi. Therefore, no need to create and remember usernames and passwords.
You have to register if you are a merchant looking to receive payments. But if you are paying for deposits to online betting pages, there is no need to sign up.
Moving on, you have to follow the prompts to finish the Pay Anyone transaction. It may appear differently for each bank, so don't take this step at face value. Before you can fully use the services of POLi, the POLi team will review your banking information based on anti-money laundering regulations.
When the verification is complete, you will receive an email from the team. That means your bank account is now fully integrated into the payment platform of POLi. From now onwards, you can start to use POLi to pay for purchases, especially on online sportsbooks!
Once you make deposits to a bookie, some banks may ask you for two-factor authentification or other methods of confirming that it is you processing the transaction. The second-factor authentification may come through in the form of SMS or app notification.
Finally, the transaction will be finalised after your confirmation. Therefore, you can make deposits to all the betting sites that accept POLi in Australia in this way from now on!
How to Deposit with POLi
Before you proceed with any type of deposit, check the Australian sports betting sites whether they are accepting POLi as part of their payment options or not. If not, you have to switch to POLi betting sites that offer the payment option.
In addition, depositing funds with POLi is not as complicated as some people may think. We will show you the ropes in the following section, so don't worry about it! Also, POLi payments are pretty much the same whether you are making the payments on your desktop or your mobile phone.
Provided that you have signed up with the Australian betting sites, go to the Payment tab on the platform, and choose Deposit Funds. The site may use different terms, but they all mean the same thing. Basically, just find the deposit option on the POLi betting sites to make the deposits.
Now, choose POLi from the drop-down menu, and select Continue. Enter the amount of money you wish to deposit into your betting account, and hit Confirm.
Keep following the instructions until the payment is successfully processed. If you face any difficulties, don't hesitate to take a quick tour of the FAQ page of the sports betting site. In most cases, the site will illustrate any payment processing issues that you may be having.
If not, try paying with POLi again after a few minutes. The last resort is to contact the customer service team of the sports betting sites to clarify any particular issues with the payment method.
POLi Deposit Limits
POLi limits have been increased to AUD $10,000 per day, which is good news for high rollers in the POLi betting sites. However, there are some rules that you should be aware of. For new customers of POLi, the deposit limit is set at AUD $2000 per day. But it changes eventually.
After you have made your first deposit of AUD $2000, the deposit quota will increase immediately. For that reason, you can deposit as much as $10,000 7 days from then onwards!
Advantages of POLi Betting Sites
After going through the deposit process, withdrawal process, and security features of POLi, we want to know how this payment system benefits us in our day-to-day lives. So, if you're thinking why do I need POLi when most betting sites accept PayPal, here's why!
Speedy Transaction
POLi makes deposits instant and safe at the same time. Once you have confirmed the payments, the money is sent to the Australian sports betting sites immediately without any waiting period.
In addition, you will be notified of the transaction by SMS or app notifications so that you are aware of where and when your money is being processed. It is an important feature of this payment method because the odds are always changing in live betting.
Simple Usage
The POLi app has a great and simple design that is easy to use, and you can move to different pages effortlessly. You don't even need to input a lot of information to carry out the transactions. Just like the betting sites accept PayPal, POLi takes a few simple steps to make deposits at various betting sites Australia.
Minimal Processing Fee
POLi incurs a small processing fee for transferring money from your account to designated betting sites that accept POLi in Australia. The processing fee is just 1% of the transaction amount, which is quite less, to be honest. So, it gives no reason for bettors who are used to Skrill, Neteller, or PayPal to frown.
Compared to VISA, MasterCard, or PayPal, the fees associated with POLi is negligible. Even if you deposit a hefty amount of money to American sports betting sites, the processing fee percentage won't change.
Compatible with Mobile Phones
In the age of mobile phones, it will be hard to make it through the day if you don't have the POLi app on your mobile device. Often, you are making bets on the go, and it gets inconvenient to pay the deposits after going home.
For this reason, POLi has a versatile app that is compatible with all modern iPhones and Android phones. Downloading, installing, and using the app is easy and trouble-free. Once your settings are synced with the app, instant payments become child's play!
Disadvantages of POLi Betting Sites
We have looked at all the ways POLi has provided an immense advantage to punters in Australia and New Zealand. But now we will look at the areas in which this payment system failed to impress the general public. Let's have a quick look!
Need to Sync with Bank Accounts
You need to have a valid bank account number Commonwealth Bank, ANZ Bank Melbourne, or other banks in Australia to register with POLi. Without it, you won't be able to use the payment service to deposit in sportsbooks and casinos. Therefore, you won't be able to transfer funds from your credit card to POLi.
Moderate Reputation
New customers may question the reputation and abilities of POLi as a payment gateway when there are other more reliable e-wallets, like PayPal, Neteller, or Skrill. For people who are already used to the instant payment system and the zero processing fee platform of Skrill and Neteller, convincing them to use POLi will be a challenge!
Exclusive to Australia and New Zealand
POLi payment method is only exclusive to the residents of Australia and New Zealand. Having said that, people who are not from those regions may have trouble understanding how POLi works. Additionally, you can't use POLi to pay for international transactions or use it from overseas.
Additional Fees
There is no ongoing fee associated with having POLi for gambling transactions. Even so, every deposit you make at sportsbooks and casinos incurs a 1% cap rate, which is equal to $3. That is, no matter how large the deposit amount, the cap will stay at $3.
How to Withdraw Funds with POLi
Even though POLi betting sites in Australia allow deposits through the secure and versatile payment method, you can't withdraw any funds through it. In this case, you have to choose an alternative payment method, such as VISA MasterCard PayPal provided the Australian sports betting sites permit those withdrawal methods as their payment options.
Security Features of POLi Betting Site Payments
POLi betting sites Australia are trustworthy and safe because they are protected by 128-bit Secure Socket Layer (SSL) encryption technology. This technology uses 10 transformation steps to transfigure plain text into ciphertext. In other words, any financial transactions made through this payment gateway are stable.
Moreover, it holds the Australian Financial Services License which gives POLi the full right o carry out financial services business in Australia.
Like many aspiring writers, Jarin focuses on bringing life to the text for her readers. She is an avid sports lover, growing up in a family obsessed with bookies. She is an expert in the iGaming niche and has secondary obsessions with Gardening and cooking.
The notable banks that support POLi are Westpac, Bendigo Bank, CUA, BankSA, BankWest, Bank of Queensland, Commonwealth Bank, ANZ, NAB, ME Bank, Citibank, IMB, Bank of Melbourne, Newcastle Permanent, St. George Bank, and People’s Choice Credit Union.
The security software of POLi has been designed to carry out safe transactions between accounts without letting third parties interfere in the middle. POLi does not keep sensitive data, like password, username, and other information of the account holder. In addition, the security measures of the payment service are monitored every day.
POLi payments is owned by SecurePay Holdings which is a subsidiary of Australia Post since 2014. It is an online payment company located in Melbourne, Australia and is regulated by the Australian Securities Investments Commission.
Unfortunately, POLi can’t help you with cancelling funds, but you can do so using your typical internet banking service. POLi payments also recommends users to refund the money back to the original bank account only.
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