Trustly and open banking are closely connected concepts, but they are not exactly the same thing.
Open banking is a broader financial technology framework that allows authorised third-party providers to access banking services or initiate payments with the user's permission. Trustly is a payment provider that offers bank-based payment services and can use open banking infrastructure in some markets and payment scenarios.
For casino players, the distinction is useful because you may see "Trustly" and "open banking" presented as payment options even though they describe different parts of the payment process.
What Is Open Banking?
Open banking refers to a system that allows regulated or authorised third-party providers to interact with bank accounts with the customer's permission.
Depending on the service and jurisdiction, this can include:
- Accessing account information
- Verifying account details
- Initiating bank payments
- Connecting financial services
- Confirming payment information
The specific rules and capabilities vary between countries.
For an online casino payment, open banking can allow a payment service to connect the casino's checkout with the customer's bank account without requiring the casino itself to receive the customer's online banking password.
What Is Trustly?
Trustly is a payment provider that facilitates bank-account-based payments.
Rather than being a type of banking regulation or infrastructure, Trustly is a company and payment service operating within the financial payments ecosystem.
When Trustly is offered at an online casino, the player can typically select Trustly, choose a supported bank and authenticate the payment through the relevant banking process.
The exact payment flow depends on the country, bank and Trustly service being used.
How Are Trustly and Open Banking Connected?
How Are Trustly and Open Banking Connected
Trustly can use open banking technology or infrastructure as part of certain payment services.
This means the two terms can appear together without meaning the same thing.
A simple way to understand the relationship is:
Open banking = the broader framework and infrastructure
Trustly = a payment provider that can use that infrastructure
Open banking is therefore not another name for Trustly.
Trustly vs Open Banking for Casino Deposits
From a casino player's perspective, the two can look similar because both can involve a direct connection to a bank account.
Trustly Payment
When Trustly is offered by a casino, you generally select Trustly from the cashier, choose your bank and follow the authentication process.
Trustly facilitates the payment between your bank and the casino.
Open Banking Payment
An open banking payment can involve another authorised payment provider connecting your bank account to the merchant.
The provider and payment interface can differ, but the underlying concept is that you authorise a bank-based payment through a permitted third-party service.
Do Both Require Bank Authentication?
They can.
A Trustly payment may require you to authenticate through your bank's supported security process before authorising the transaction.
An open banking payment can similarly require authentication or confirmation with your bank.
The exact method depends on the bank, country, payment provider and transaction.
The important distinction is that open banking describes the broader system, while Trustly describes the specific payment service.
Are Trustly and Open Banking Available at Every Casino?
Are Trustly and Open Banking Available at Every Casino
No.
A casino must support the relevant payment service, and availability can vary according to:
- Country
- Bank
- Currency
- Casino payment provider
- Account status
- Local financial rules
A casino offering Trustly does not necessarily offer every type of open banking payment, and a casino supporting open banking payments does not necessarily use Trustly.
Which Is More Flexible?
There is no universal answer because Trustly and open banking operate at different levels.
Trustly is a specific payment service that may be available through a casino's cashier.
Open banking is a wider framework that can support different payment providers and financial services.
The practical flexibility for a casino player depends on which banks, currencies and payment services the casino supports.
What Should You Check Before Using a Bank-Based Casino Payment?
Before making a deposit, check:
- Which payment provider the casino uses
- Whether your bank is supported
- The available transaction currencies
- Deposit minimums and maximums
- Any applicable fees
- Verification requirements
- Processing times
- Whether withdrawals are supported
- Any country-specific restrictions
This can tell you more about the actual payment experience than the label "Trustly" or "open banking" alone.
For more guidance on Trustly and bank-based casino payments, explore Gambling Zone for further payment-focused information.
Frequently Asked Questions
Is Trustly an open banking service?
Trustly is a payment provider rather than the same thing as open banking. Its services can use open banking infrastructure or related technology in certain markets and payment scenarios.
Is open banking the same as Trustly?
No. Open banking is a broader framework that enables authorised third parties to interact with bank accounts with customer permission. Trustly is one payment provider that can operate within this ecosystem.
Is Trustly a bank?
No. Trustly is a payment provider that facilitates bank-account-based transactions.
Can Trustly access my bank account?
Trustly can facilitate an authorised payment connection with your bank. The specific information and access involved depend on the service, bank and authorisation you provide.
Does open banking make casino payments instant?
Not necessarily. Payment speed depends on the bank, payment provider, casino and transaction checks. Bank-based payments can be processed quickly, but timing can vary.
