POLi

POLi is an economical service because it does not charge users to make payments. Users can safely send money to an online store without revealing their banking details. This is one of the many reasons why POLi is so well-liked by Aussie and Kiwi sports enthusiasts.

POLi, which launched in 2007, has made it its mission to become the go-to payment provider in Australia and New Zealand. This is why development of POLi has continued indefinitely. By integrating with users’ existing mobile banking apps in 2013, the payment system has increased user satisfaction and convenience. There is an ever-expanding list of reputable, Australia- and New Zealand-focused online sportsbooks that accept POLi.

POLi Payments Pty Ltd, formerly known as Centricom, is the company providing the payment processing service. Its headquarters are in the Australian city of Melbourne. Australia Post’s wholly-owned subsidiary, SecurePay Holdings, bought POLi Payments in December 2014.

How POLi Functions?

Using POLi, it’s simpler than ever to move money between your bank account and a website seller. POLi does not keep your money as e-wallets do. Users can only utilize their Internet banking to make instantaneous online payments. If you use POLi to make an online purchase, the funds will be transferred instantly from your bank account to the retailers.

POLi is supported by a large number of online stores because the payment service is widely used. That’s to be expected, given the benefits this payment service provides. When a payment is confirmed, both the retailer and the customer are notified that the transaction is complete. Additionally, POLi enables online retailers to set up a payment processing URL.

You can utilize the payment function without creating a POLi account. To make a POLi payment, you will need an online banking account at a bank that participates in the POLi network. Bank of Melbourne, Bendigo Bank, Citibank, Commonwealth Bank, St. George Bank, and many others are among the Australian financial institutions that accept POLi. New Zealanders who have an online banking account at ANZ, ASB, BNZ, The Cooperative Bank, TSB, Westpac, or Kiwibank can utilize POLi.

Opening an Account

A POLi account is unnecessary because the payment service mediates between the sender and the recipient. Because of this, you won’t have to worry about having to keep track of many login credentials, which is one of the many benefits of using this payment service. Further, signing up is often a long and arduous process. However, this will not happen if you use POLi. The only exception is merchants, who must register for a POLi account before they can accept POLi payments. You may learn more about this on the POLi website.

Depositing to Your Sportsbook Balance

POLi allows you to make online payments without having to pre-fund an eWallet, so long as there are adequate funds in your online banking account. If you’re a sports fan who enjoys placing wagers online, you’ll be pleased to know that a respectable selection of betting sites now accepts POLi. It is easy to fund your POLi sports betting account.

The first thing you’ll need to do is look for a sportsbook that accepts this kind of payment. After that, head to the checkout and create an account. Once you’ve decided on POLi as your preferred payment method, you can input the amount you wish to deposit. There will be a pull-down menu where you can select your preferred financial institution. The next step is to access your online banking platform and choose the account you wish to utilize for the transaction. You can start betting as soon as the payment is verified.

Remember that minimum and maximum deposit limits are often imposed by online bookies. These are different for each of the many sportsbooks and payment methods available on the web. When a payment method is being used, the limits are often displayed just below the option chosen.

Withdrawing from Your Sportsbook Balance

POLi’s inability to handle withdrawals is a big shortcoming. This is due to the fact that it is not a true standalone payment processor, but rather a proxy pay service. If you make a deposit via POLi, though, you’ll be able to get your winnings sent straight to your bank account. You can do this by going to the cashier on your online sportsbook account.

Choose Bank Transfer from the list of available withdrawal options and enter the desired amount. Your bank account information will be requested (BSB and account number). Bettors can discover the BSB, a six-digit number, in their online bank accounts. There can be no more than a three- to five-day delay between the transfer and the funds showing up in your online banking account. The funds are then available for withdrawal at any ATM.

Withdrawal requests at most online sportsbooks are processed after 1–3 business days. On extremely rare occasions, the waiting period may extend to 7 days. You can find the sportsbook’s withdrawal minimum and maximum in the terms and conditions section.

Cost and Fees

Pay attention to any associated fees when searching for an appropriate payment option to finance your sports betting account. Users in the real world can get POLi services at no cost. On top of that, POLi is a free option for customers of online bookies. Because of this, many punters in Australia and New Zealand use POLi to fund their online sportsbooks.

Remember that your bank may charge you a fee for making a wire transfer. Even if you do make a profit, withdrawing it from an ATM may cost you, especially if you use an ATM that is not part of your financial institution’s ATM network.

Since POLi’s services are free, some of our readers may be curious about the company’s business model. The correct response is that the payment service is complimentary for users in the physical world. Online retailers must pay a fee of 1%, with a cap of AU$ 3 per successful sale. POLi has the lowest rates for online merchants compared to other payment platforms like PayPal.

Security and Privacy

A proxy server is what POLi is. Therefore, the POLi servers will be used whenever an online payment is made. Your banking details will remain safe because of the method of payment. Your login credentials are safe from cybercriminals during a POLi transaction because POLi does not keep usernames and passwords.

POLi has been certified by ISO as meeting the most stringent security requirements. This is another evidence of its trustworthiness. The security of POLi is routinely evaluated by well-known security companies. Additionally, HTTPS and SSL encryption with a strength of 2048 bits are used by the payment provider. The payment solution is made even safer by not requiring users to sign up for an account.

The solution’s payment infrastructure is backed by a number of Australia and New Zealand’s most reliable banks. That is another evidence of its reliability. During the week, Melbourne local time, POLi’s excellent customer assistance is available from 8:30 am to 7:00 pm.

Some financial institutions have voiced concern over the safety of their customers’ online banking credentials despite POLi’s many safeguards. ASB Bank, one of New Zealand’s banks, issued a press release warning of the high risk of fraud associated with using POLi due to the acquisition of sensitive customer information. Both ANZ and Kiwibank have disclaimed responsibility for any losses incurred as a result of a customer’s use of POLi.

Advantages of POLi

Because of its useful features, POLi, a proxy payment service, has become quite popular. Customers can utilize this payment choice without creating an account. To register for a course can be a tedious and time-consuming process, as we are all well aware. You need just open an online banking account with a financial institution that participates in POLi and commit your login details to memory.

Since using POLi does not necessitate signing up for an account, there are no setup or monthly fees associated with using the service. For users on the ground, the POLi services are provided at no cost. So, POLi is a great option if you’re seeking for a payment method that won’t cost you anything each time you add money to your sports betting account. In general, POLi deposits and withdrawals are free at most online sportsbooks.

POLi is a service that allows you to make online payments by linking your bank account to the service. The payment service, however, does not keep any records. POLi users are also spared the hassle of entering their credit card information. By doing so, POLi prevents identity theft and credit card fraud.

POLi is trusted because it only works with major financial institutions. SSL encryption, HTTPS transport-level security, and numerous layers of firewall protection are only some of the additional safety precautions taken.

POLi is intended for usage by anyone without any prior experience or special training. The payment system was developed to improve the efficiency of electronic bank transfers. POLi payments, meanwhile, are handled instantly. This means that you can utilize POLi to add funds to your account at the last minute if you wish to place a bet.

Disadvantages of POLi

In our imperfect world, there is no such thing as perfection. Despite the fact that POLi’s benefits vastly outweigh its drawbacks, it’s important to highlight them nonetheless. In doing so, we can give our audience a more nuanced image of the manner of payment.

POLi now caters to Australian and New Zealand customers. Therefore, only the Australian Dollar and the New Zealand Dollar are accepted. Sorry, but you can’t use POLi to make online payments if you’re located anywhere else in the world outside Australia and New Zealand.

To use POLi, you must have access to online banking through a partner financial institution. Consequently, if you use the online banking services of a different bank, you will need to switch in order to make online payments via POLi.

A major drawback of POLi is that it does not allow for withdrawals. If you use POLi to finance your sports betting account, you’ll need to choose a different method of withdrawal. Fortunately, the majority of online sportsbooks accept a wide range of payment methods. In most cases, a wire transfer to your bank account will be the quickest and most hassle-free option for cashing out your profits from sports betting.

POLi offers a helpful customer service team, however, they aren’t on call 24/7. Additionally, there is no way to contact the company via live chat because the payment mechanism does not allow it. However, POLi users can get in touch with POLi’s support staff via email or phone.

Conclusion

Many well-known Australian and New Zealand financial institutions back POLi, a proxy pay service. It aspires to facilitate user-friendly and cost-effective online financial transactions. It’s important to note that while using POLi to make a payment, your funds are processed securely and there is no chance of losing money due to fraud.

Since POLi transactions are completed promptly, it is often used by sports fans as a means of funding their betting accounts. Further, gamblers must pay a fee when using POLi to fund their bookie accounts. The service’s one drawback is that it can’t be utilized to make withdrawals. However, this is not a major issue because wins can be withdrawn to a bank account or another form of payment.