As you can’t very well go and deposit at an online casino with hard cash or cheques, the tried and tested bank transfer (also known as a wire transfer) is one of the most popular methods that gambling platforms offer. Its popularity rivals the top payment methods such as Visa and MasterCard and it’s one of the easiest and safest ways to deposit and withdraw cash.
Casinos And Bank Transfers
Whether you choose to arrange a bank transfer transaction by telephone or online is up to you, but the latter option is probably the easiest of them all. By simply logging into your account on the web, you can send money via bank transfer to anyone with a legitimate account – online casinos included.
Plenty of alternative payment methods have arisen to challenge internet casino bank transfers since the recent iGaming boom began, but you can rest assured that a wire transfer is still one of the easiest methods to use.
How To Deposit
As we’ve mentioned above, you’ll need to use your bank’s facilities to set up a transfer to your chosen casino. To do this properly, you’ll need to make sure you’ve got all the necessary details such as an account number, sort code and SWIFT / BIC codes.
Depositing And Withdrawing With Bank Transfers
While many online casinos may allow certain payment methods for deposit only, you can often make withdrawals directly into your bank account too! Making a deposit requires you to acquire your online casino’s details before you begin, information that should be given to you when selecting this deposit method.
Alternatively, you may be presented with links to major banks from your country. If this happens, simply select an option who you hold an account with and follow the given instructions.
One disadvantage of using wire transfers is processing times. The minimum is usually one working day from the time your payment is confirmed (although this can extend to 5 or more).
Withdrawals are a similar kettle of fish, with your winnings set to reach your account once a few days have passed.
It’s a simple procedure to implement, though, as you just select the bank transfer withdrawal service once you’ve accumulated enough to get the ball rolling. Input your bank details, if you haven’t done so already, and sit back knowing you’re about to get a financial boost!
Minimum Deposit Amounts
Although getting a bank transfer casino bonus is almost guaranteed for new players, the minimum amount you must deposit varies and should be clearly stated. It’s usually in the range of £10-£20, but be sure to keep an eye on any charges you may incur when using bank transfer – especially if you’re changing the currency to play.
Minimum Withdrawal Amounts
Similarly to deposit amounts, online casino withdrawals by wire transfer are set by each individual website. Something to note is that withdrawals limits are, generally, slightly more than their deposit counterparts, no matter the desired service. £20 is often the minimum, but there are certain casinos who are more lenient.
Again, bank transfer charges are possible, so be sure to have a look at the Terms and Conditions.
Although it might take a while to get there, your deposit is almost sure to give you a bank transfer casino bonus or two. Certain e-wallets and other payment methods aren’t applicable when claiming treats and goodies, but wire transfer usually isn’t one of them.
Which Casinos Accept Bank Transfers?
While there are plenty of quality casinos around that accept this payment method, here are some of the best.
Although they’re known around the world for poker, PokerStars Casino also has an in-depth casino that is hugely rewarding. They even have their own cross-product VIP program, branded Stars Rewards, which gives you additional bonuses and extras in one streamlined scheme. So, if you’re a gamer who enjoys multiple online gambling areas under one roof, PokerStars is a worldwide brand that you can trust.
Betsson Casino is another heavyweight with this payment option. Their platform oozes class the minute you logon, with plenty of extra incentives. Their site covers all game types, such as video slots, live casino, jackpots, table games and more – so you’re never likely to get bored.
Why Choose Bank Transfers?
Security! We understand that making transactions online in any environment causes a bit of concern for many, so you’ll want to guarantee safety when doing so. As this method means that your money is going directly into your safe bank account, it’s one of the most protected methods around.
Another huge advantage that wire transfer leads to withdrawals. Lots of eWallets allow you to deposit, but not withdraw… and It’s particularly irritating to have to set up two different services for depositing money and taking it out. Setting up bank transfers eradicates this issue by being an option for both almost all of the time.
The Future Of Bank Transfers in iGaming
Although wire transfers are an option today, it’s difficult to determine whether they’ll be a feature of the industry moving forward. Despite the advantages mentioned above, the time-consuming transaction period is a huge problem that iGamers have to face. Many players want to deposit and play immediately, but, with bank transfers, this isn’t possible very often.
Furthermore, with Bitcoin and other cryptocurrencies flirting with the idea of becoming dominant forces within iGaming, this would surely push the wire transfer method even further down the pecking order.
However, for the time being, the bank transfer won’t be going anywhere. The fact that this service is almost always used as a withdrawal method is hugely beneficial, as it’s a useful contingency for any gamer whose initial deposit service is unlisted for withdrawals.
So, we at least expect to see the bank transfers in the world of online gaming around for a few more years to come