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Introduction
There’s no doubt that the Mexican online gambling scene keeps getting bigger and bigger, with lots of new methods being offered across sites that accept players from the country, like CoDi. This is a method designed not so long ago, which facilitates online banking for Mexican users and improves the ways of transacting online for them. It started getting offered across the online gambling industry in times when Mexican players needed it the most since not that many local solutions are offered across international casino sites. But with this solution, you can certainly make the smoothest and most secure deposits and withdrawals across many sites. What is CoDi and why choose to use it across online casinos?
About CoDi
In 2019, the Bank of Mexico (Banxico) introduced a groundbreaking solution known as CoDi. This electronic payment platform was created specifically for users, enabling fast and secure online payments and transactions. The term CoDi stands for Cobro Digital, or Digital Payments, allowing users to engage in various types of transactions while benefiting from its top-notch security. Mexican This solution operates using cutting-edge transaction processing technology that leverages QR codes. To utilize it, you need to possess a smartphone capable of scanning these codes. Naturally, you must also have a bank account , as CoDi was rolled out by the Bank of Mexico and is integrated into the country's traditional banking framework, promoting a shift to a cashless society. mobile Although it is relatively new in Mexico, CoDi was met with immediate success upon its release. Reports from Banxico indicate that within just two years of its launch, transactions exceeding 146 million Mexican pesos were processed through the platform. Given that it is supported by the established banking system, it stands out as one of the most secure and dependable options available to users in Mexico, especially since it incurs no fees , further contributing to its popularity.
One of the main advantages of CoDi is that no app installation is necessary, making it extremely user-friendly. With just a smartphone and an active bank account, users can easily begin using this system. It was crafted to serve the people, facilitating the safest and most cost-effective transactions online, which is why it feels so intuitive to navigate .
Taking all this into account, it is unsurprising that CoDi is recognized across major Mexican online casinos. Not only local sites but also international casinos recognize its importance and have adopted it to better serve their Mexican clientele. If you are a player in Mexico looking for a hassle-free payment solution for online gambling, CoDi is certainly worth considering. Continue reading to discover how to start using it.
Since CoDi transactions are conducted through electronic bank transfers and utilize QR codes, you'll need to fulfill two fundamental requirements before using it. As long as you possess a bank account from one of Mexico's leading financial institutions and have a compatible smartphone, you're good to go.
As previously mentioned, you won’t need a separate application for using CoDi; your bank’s existing app will suffice. Banxico aimed to make usage as straightforward as possible, so there’s no need to download extra software. You should just look for CoDi within your bank’s app to start using it. Although online casinos may provide their own applications, it is unnecessary for you to have one to access the solution. casinos Considering all these factors, Banxico has really simplified access for users. They ensured you wouldn’t be hindered by the need to download separate applications; as long as you have your bank’s app on your device, you can dive right in. You’ll use the QR code system for transactions in physical locations, like restaurants and stores. However, a different set of steps is required for online use.
Getting Started with It
When making deposits at online casinos, for example, you’ll first need to log into your online banking interface and locate the CoDi section. There, you can register for the service. After that, you should ask your chosen casino to “ generate a CoDi ,” which means creating a payment request filled with transaction details such as the amount, reason for payment, and casino operator's name. Once this is done, you will be directed back to your online banking profile or app to verify the information and authenticate the payment using your preferred method, such as facial recognition, a token, fingerprint, or PIN. At this point, both you and the casino will receive a notification confirming the transaction, and your casino balance will be updated almost instantly.
When designing the solution, Banxico had in mind the fact that over 12 million Mexican citizens are using smartphones on a daily basis. Plus, it considered that people were using these devices to get access to the internet, and what’s most important, to make payments with them over the internet, too. And, it assumed that most of these users have a bank app installed on their smartphones, to get quicker access to their bank accounts.
While this is one way to make a deposit, there’s also an alternative method available at some online casinos. The casino can choose to leave the Amount field blank, allowing you as the player to specify exactly how much you wish to deposit instead of having the operator set it for you. This eliminates the need to reach out to customer support, which is otherwise required in the first method. However, for this option to be viable, the selected casino must be registered with CoDi. If it doesn’t, you would have to follow the process detailed earlier and get in touch with customer support to indicate the deposit amount.
Now that you are aware of these two deposit methods at online casinos using CoDi, let’s outline the specific steps from selecting a casino to funding your account.
What Are the Steps to Deposit at Online Casinos Using CoDi?
entering the Mexican market after securing licenses
to operate within the nation, particularly since the legalization of online gambling occurred a few years back . As you investigate, you'll find that many of these casinos have begun to accept CoDi as a payment method. Thus, you should identify some potential candidates, review what each has to offer, and select the one that interests you. Set up your account with them, and soon you’ll be ready to make your initial deposit using this solution.
To deposit with CoDi , follow these steps:
More and more operators are Visit the Payments/Deposits/Cashier section of your chosen casino. Look for Banxico or CoDi’s logo among the available payment options and click on it.
In the pop-up box, enter your standard credentials to log into your online banking." "If applicable, indicate the amount you wish to add to your casino balance; if not available, reach out to a Customer Support agent to provide them with your desired amount.
- Wait for a reference number to be generated by the casino; once you receive it, input it into your online banking where prompted.
- Observe your casino balance increase immediately .
- Contrary to some beliefs, since this is still a solution that functions through smart devices, withdrawals using CoDi are also possible . The system operates through the country's standard banking infrastructure, allowing for transactions to be processed reciprocally.
- You would follow the same steps mentioned earlier, simply specifying the amount you wish to withdraw during step 4. Once the casino processes and approves your request, you should see your winnings transfer to your bank account within 48 hours.
- As mentioned earlier, this is a completely fee-free payment solution to use. Launched by the Bank of Mexico, it was designed specifically to offer users the most economical way of conducting transactions, with no fees involved. The system's intent was to provide the most cost-effective solution available in Mexico.
- The most beneficial aspect of this system is that both deposits and withdrawals at casinos are free of any fees, given that it is a digital payment platform.
How to Withdraw Winnings with It?
You have likely gathered, after reading this information, that this solution is exclusive to Mexico . Only players from the country can utilize it for deposits and withdrawals in online casinos, meaning players from other countries will not be able to access it. withdrawals However, as a Mexican player, keep in mind that you too must satisfy the two essential requirements to utilize it. Without an active bank account and a smartphone, you won't be able to take advantage of this service either.
Due to the nature of this solution, only the Mexican peso is accepted as the default currency for all transactions made through CoDi at online casinos.
Fees and Limits
This is particularly favorable for you as a Mexican player who frequents casinos that accept your domestic currency, as this means you won't incur conversion charges.
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FAQs
There's no need to install a separate app to use CoDi, and it's remarkably user-friendly. If you have a smartphone and an active bank account, you can begin using it right away. CoDi was tailored to meet the needs of everyday people, allowing them to carry out the safest, most efficient, and most affordable online transactions, making it very easy to navigate .
Given all this information, it’s clear why CoDi is widely accepted by prominent Mexican online casinos . Not only do domestic websites embrace this payment method, but international casinos also cater to Mexican users by offering CoDi, making it a payment option worth considering for Mexican players looking for convenience. Keep reading to learn how you can start using this service. codi@banxico.org.mx .
To use CoDi, you need to fulfill two key requirements, as transactions are executed via electronic bank transfer and utilize QR codes. First, you must possess a bank account with one of Mexico's top banks and have a smartphone at your disposal, no matter what operating system it runs.
As mentioned earlier, there’s no need to download any specialized app; your existing bank’s app is sufficient. Banxico aimed to streamline the process, ensuring users don’t need to install extra applications. Instead, you simply need to locate the CoDi option within your bank’s app to start using it. While casinos might offer their own apps, these are not mandatory for the use of the CoDi service.
Banxico has made using CoDi quite straightforward. You won't need to deal with extra downloads to access the service; just keep your bank’s app handy, and you'll be ready to use it immediately. The QR technology can facilitate payments and purchases at physical locations, such as restaurants and shops. However, the process for online transactions differs.
For making deposits at an online casino using CoDi, you will need to log into your online banking account and find the CoDi option. After signing up for the service, you must instruct your chosen casino to ‘ generate a CoDi ’, which prepares a payment request containing all transaction details, including the payment amount, the purpose of the transaction, and the casino operator's name. Once this is done, you will be redirected to your online banking account or app to review and approve the payment by confirming your identity through a method like facial recognition, a token, a fingerprint, or a PIN. Both you and the casino will then receive a confirmation notification , and the funds will be immediately available in your casino account.
There is an alternative method for depositing using CoDi at online casinos. The casino can leave the amount field blank, allowing you, the player, to specify how much you wish to deposit without needing to contact Customer Support, which is usually necessary for the previous method. However, for this option to work, your chosen casino must be registered with CoDi. If they aren’t, you’ll need to follow the steps mentioned earlier and contact Support to specify the deposit amount.
Now that you're familiar with the two methods for making a deposit at an online casino using CoDi, let's go through the actual steps from selecting a casino to funding your casino balance.
Steps to Deposit Funds at Online Casinos Using CoDi:
entering the Mexican gaming market after securing licenses