The Boleto Bancario payment method refers to a system of payment which involves converting cash deposits into an online transactions via a bank slip. It is the bank slip which is known as the ‘boleto’.
If a player of an online casino opts for the Boleto Bancario payment method on the site, the boleto form will appear on the webpage. The boleto will have been issued by a specific Brazilian bank. Contained within the boleto is information related to the payment recipient, as well as the identification of the payment, the date the payment was issued, and the expiry date of the boleto. There is also a barcode comprising of 44 digits on the bottom of the boleto.
A printed copy of the boleto is required, which will need to be handed in at a bank, national lottery agency, post office, or a retailer which accepts boletos as payments. At any one of these establishments, the barcode on the document will be scanned and read and however much is owed will be paid in cash. Payment confirmation is made through the payer receiving the bank slip part of the boleto as well as the receipt of the payment.
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Today, Boleto Bancarios can be carried out on the internet, as well as at cash machines. Once the expiry date on the boleto has been reached and passed, it becomes void and a new boleto is required.
Following payment, it typically takes three working days for the payment to be processed by the bank and the transfer to be completed. The recipient of the payment will be notified by the bank that a payment has been made into their bank account.
This form of casino payment is safe and secure, when it is used both online as well as manually, thus making it a popular method of payment for online casino transactions.