What is Trustly?
Trustly is a digital payment solution that facilitates fast, simple, and secure financial transactions. Launched in 2008 in Stockholm, Sweden, it is known for its direct banking e-payments and is now available in 29 European countries, including the UK.
Trustly provides a secure bridge between your bank account and online merchants, meaning you don’t need a separate account or electronic wallet.
How Does Trustly Work?
Using Trustly is straightforward. Select Trustly as your payment option on participating website checkouts. You’ll enter your bank account details, and Trustly processes the transaction instantly without storing any sensitive information. It’s as simple as online banking.
Benefits of Using Trustly
Ease of use and security are significant benefits of Trustly. Here are some key advantages:
- High levels of security: Trustly is regulated by the Swedish Financial Supervisory Authority, demonstrating its commitment to high-security standards.
- Speed and convenience: With Trustly, payments and deposits occur instantly, eliminating the need to wait for money to transfer.
- No need for registration or a separate account: Unlike other payment platforms, Trustly doesn’t require an additional account—it works directly with your bank account.
- Broad compatibility: Many online merchants and casinos accept Trustly.
Is Trustly a Good Payment Method for the UK?
Yes, Trustly is an excellent payment method for UK residents. It combines speed, security, and convenience, making it a compelling alternative to traditional methods.
Plus, Trustly is authorised and regulated by the UK’s Financial Conduct Authority (FCA), which guarantees a high degree of protection and security for UK users.
However, not all UK banks are partnered with Trustly. While the list of partnered banks is growing, customers of certain banks may not be able to use Trustly. It’s important to check whether your bank supports this platform.
Another slight drawback for Trustly in the UK is currency conversion charges. You may face additional fees if you’re making payments to countries outside the eurozone.
Summary
In conclusion, Trustly presents a convenient and secure option for online payments. It’s generally a good payment method for people in the UK, granted their bank supports it, and they’re aware of any potential currency conversion charges. As always, it’s essential to keep an eye on your bank’s policies to ensure you’re getting the most out of your online payment method of choice.