Trustly in Canada
Trustly is a payment option that allows making payments right from your account. Find out how this method works by reading this review.
Are Trustly Transfers Available in Canada?
Trustly is available in various countries, and Canada is on that list as well. This payment option has recently hit the Canadian market, and today, you can use it for various transactions without any problems.
Trustly Registration
Unlike many other payment services, Trustly does not require any registration. This is what really makes it stand out from the crowd. Simply choose Trustly on the payment page of the merchant. This payment option will help your funds to reach the final destination but it will not store any money.
Main Product Types
The following are the Trustly products that you can use.
Deposits
If you want to make a deposit on a third-party website, such as an online casino, you can do this with the help of Trustly. Simply navigate to the payment page of the merchant and choose this payment option from the list of banking methods available for this purpose. Your payment will be made right from your account. Merchants can add Trustly on their website or application to allow their customers to make payments quickly and easily without using any software or applications.
Payouts
Trustly allows withdrawing your funds right from your account. If you wish to get pay-outs, you only need to pick Trustly from the available payment options. If you are a merchant, you should integrate this payment option on your website, allowing your customer to get access to their funds in a quick and hassle-free manner.
Where Can I Use Trustly Card in Canada
Trustly in Canada can be used on a range of websites, including the following:
- Gambling;
- Financial services;
- Travel;
- e-Commerce.
Charges and Fees
As a user of this system, you will be charged no fees for using Trustly. Merchants will be paying all the fees instead of you.
The standard fee is 1.5% and a minimum of €0.8. However, if your business has a large volume, then you will be negotiating fees with Trustly separately.
Comparison to Other Payment Methods
There are a variety of payment methods that customers can use as alternatives to Trustly. Find out about the main differences between them and this online banking payment method.
Trustly vs Skrill
Skrill is popular all over the world for instant and secure transactions. It allows setting an account that can be replenished with various deposit methods.
Payment method name | Trustly | Skrill-Moneybookers |
---|---|---|
Available accounts | 1 account (3 different free currency accounts) | 4 account (1:2:3:4 different currency accounts) |
Available currencies | 45 | 41 |
One time signup bonus | n/a | 5 USD Signup Bonus |
Account management fees | free | free |
Account unused | unused for 12 months: 1.50 EUR/month | unused for 12 months: 1 EUR/month |
Exchange fees (FX) | 2.99% (2.99%; 1,49%; 1,49%; 1,25%), 1.49% with eWallet-Optimizer | 3.99% (3.79%; 2.89%; 2.59%; 1.99%) |
p2p Money transfer | ||
Send money p2p | free | 1.9%, max 20 EUR (19%, max 10 EUR for bronze; 19, max 2 EUR for above) |
Receive money p2p | free | free |
Deposit fees | ||
Bank transfer | free | free |
Instant bank transfer | n/a | free |
Credit card | 1.69% | 1.90% (1.25%; free: free: free) |
Withdraw fees | ||
Bank transfer | 5.90 EUR | 3.95 EUR (3.95; free; free; free) |
Cheque | n/a | 3.50 EUR |
Prepaid card at the ATM | 2% (minimum charge 1.50 EUR) | 1.75% (1.759; free: free: free) |
To merchant site | free | free |
Trustly vs Muchbetter
Muchbetter is a payment application that allows making deposits and withdrawals to/from your account on different websites as well as to conduct peer-to-peer transactions.
Trustly vs Neteller
Neteller is a quite popular e-money transfer service that can be used for transferring money to and from merchants. It allows using the Net+ card or making payments using bank accounts.
Payment method name | Trustly | NETELLER |
---|---|---|
Available accounts | 4 account (3 different free currencyaccounts) | 4 account (1:2:3:4:N/A different currency accounts |
Available currencies | 45 | 28 |
One time signup bonus | n/a | n/a |
Account management fees | free | free |
Account unused | unused for 12 months: 1.50 EUR/month | unused for 12 months: 5.00 USD (orequivalent) /month |
Exchange fees (FX) | 2,99% (2,99% 1.49%; 149%; 1,25%), 1.49% with eWallet-Optimizer | 3,99% (3.79%; 3,19%; 2.79%; 2.39%; 1.29%) |
p2p Money transfer | ||
Send money p2p | free | 1.45%, minimum 0.50 USD (1.45% money transfer fee with min. of 0.50USD for Bronze, free of charge for Silver, Gold, Platinum and Diamond) |
Receive money p2p | free | free |
Deposit fees | ||
Bank transfer | free | 2.5% |
Instant bank transfer | n/a | 2.5% |
Credit card | 1.69% | 2.5% |
Withdraw fees | ||
Bank transfer | 5.90 EUR | 40 USD |
Cheque | n/a | n/a |
Prepaid card at the ATM | 2% (minimum charge 1.50 EUR) | 1.75% (1.759: 1.75%: $6; $6: $6) |
To merchant site | free | free |
Trustly vs Paysafecard
Paysafecard works on a prepaid basis. Customers can purchase vouchers that come with secure PINs and use them for online payments.
Advantages of Using Trustly in Canada
There are plenty of advantages to using Trustly in Canada:
- No registration required;
- No application has to be downloaded;
- Direct transfers between bank accounts;
- No fees to pay on merchants' websites;
- Quick transactions.
Mobile App - How to Use It
There is no Trustly mobile application that you as a customer need to download to use the services of this payment option.
If you wish to integrate this banking method into your business application, you will be able to use either Trustly Android SDK or Trustly IOS SDK. The clear instructions on the integration processes are provided on the official website of the payment system so that you could easily manage everything yourself.
FAQ
What is Trustly bank transfer?
Trustly allows customers to send their money to a bank account of a merchant instantly. This payment method does not require any registration or a special application. Also, you do not need a bank card to use it.
Is Trustly an eWallet?
No, it is not an ewallet. It is a tool that allows making payments directly from your account. In simple words, it is an intermediate service that works as a bridge between bank accounts. You will not need to register an account with Trustly to use it. This payment system never stores any personal information.
How do I open a Trustly account?
You do not need to open an account with Trustly if you wish to use this banking method for payments. Simply pick this banking method, enter the required details, and make a payment.
Is Trustly online bank transfer safe?
Yes, the payment system does not store any personal information, and it utilizes encryption technologies along with other security measures.
How long does a Trustly refund take?
Being a payment method, allowing transferring your funds to the merchant, Trustly does not have your funds. This means that if you make a deposit or payment, the money will be directly sent to the merchant. If you want to request a refund, you need to contact the merchant directly.