If ever you needed to make an online payment in Australia, Ukash was the way to go. It was made solely for online use. And it proved to be very capable in what they did. This was all until they stopped operating in 2015. Why did they stop operating you may ask, well just read on and we will let you know.
What was Ukash?
It was a form of currency made for online use. Australians and other users could purchase the vouchers for real money then use those vouchers for web-based payments. Before they stopped operating, over 420 000 online merchants used the service and among these were internet-based casinos. It could be used online but not for physical transactions.
Ukash was launched in 2005 in London. 8 years later in 2013, they supported the launch of AvoidOnlineScams.net which offers information on how to avoid online scams and ransomware. The following year in 2014 Ukash launched the Ukash Travel Money Prepaid Mastercard. This was a prepaid MasterCard for Euros and U.S dollars that could be used anywhere where they accepted MasterCard.
Ten years after its launch Ukash was acquired by Skrill. And after that, they were merged into paysafecard in October 2015. Distribution by Ukash was then stopped in August 2015 and existing vouchers could be spent till October 2015.
How was it was used?
Ukash could be used for depositing and withdrawing funds. Their vouchers could also be converted back into cash.
- Purchase a voucher from any store that sold them.
- Look for and select from the online casino that you are playing at.
- Enter the amount that you want to deposit.
- Enter the 19-digit that came with the voucher.
- Click agree, after reading all the terms and conditions
- Wait for a few seconds, and your deposit is in.
Withdrawal of Funds
- Look for and select from the withdrawal methods at the online casino that you are playing at.
- Enter the amount that you want to withdraw.
- You will be sent a message confirming the amount that you have withdrawn.
Converting Vouchers into Cash
- Register for an account online
- Enter your 19-digit code
- Select the shop or ATM where you are
- Receive your withdrawal code
- Pick up your cash
Using the banking option was that simple and it was a very convenient method.
- Vouchers could be converted back into cash.
- Deposits were anonymous
- Deposits using Ukash were instant.
- As you had to buy vouchers gamblers were aware of the amount that they were using, hence being able to manage their bankroll.
- Ukash was a safe and secure method
- The service was available in many countries and as a result allowed for the use of many currencies.
Disadvantages of using Ukash
- Scammers were reported to have been using Ukash for black market after getting the codes from unsuspecting victims.
Other banking methods include