giropay Brokers - Deposit Method

What Is GiroPay?

GiroPay is an internet payment system in which is based on online banking. The company is based out of Germany and was established in 2006. The GiroPay system is very similar to many other types of online banking payment systems in other countries such as the ‘Secure Vaults’ payments in the United States, ‘Interac Online’ in Canada, and so on. The GiroPay system makes it very easy for their users to make payments that come directly from their bank account. Users of GiroPay don’t even have to register with a third-party service or create new login details for another account. Payments and transfers with GiroPay can be done from one’s online banking account.

The GiroPay system is strictly an interbank system with the implementation of German Banks for online banking. The system accounts for nearly 16% of all online transactions in Germany and is accessible by over 40 million Germans. The system has become quite popular among online trading brokers in Germany due to the amount of people with access to this method of payment and for it’s ease of use and simplicity.

How To Use GiroPay

GiroPay is a very simple and convenient method of payment for depositing funds into an online trading account. To learn how it works for depositing funds in a trading account, follow the steps below.

When logged into your online trading account, navigate to the deposit section and select GiroPay from the available deposit methods.
From here, you will be redirected to your online banking GiroPay environment.
Once redirected, you will enter in your banking details to login (username, password, security question).
Next, you will receive a code sent through SMS or one that is generated on a secure device (depending on which security feature you have setup). You enter this code to access the payment page.
From the payment page, you will choose which account you would like the deposit to come from. As well, you will enter the amount of funds you wish to deposit.
Finally, you will click submit and then be redirected to a confirmation page which explains that your payment has been submitted.

Payments with GiroPay are quite fast and only take up to 1 hour to be completed. Transaction times are dependent on the banking hours.

Benefits of GiroPay

GiroPay is an excellent way to deposit funds into your online trading account. If you are a German trader and the brokerage you deal with accepts GiroPay for payments, it will be the obvious choice for deposits. Below are some of the key benefits GiroPay presents.

Safe & Secure – When paying with GiroPay, traders do so in a safe and secure online banking environment of their very own bank. Your personal and financial information is already protected, and you have the confidence of your banks security.

Fast Transactions – Deposits are very fast, usually taking only minutes to complete.

Convenient – There is no additional registration required for GiroPay, meaning once you have a bank account that supports GiroPay, that’s all you need.

No Fees – There are no fees associated with GiroPay. It is free to make payments with it.