- How it Works
- Funding a Casino Account
- Withdrawing Funds
- Mobile Bank Transfers
- Advantages of Bank Transfers
- Disadvantages of Bank Transfers
- Bank Transfer Fees
Bank transfers are also a preferred way of payment by many gambling aficionados due to the fact that when they want to fund their gaming account, their funds are simply taken away from their bank account and then, they are transferred to the casino. But what makes the way of payment so well-liked is that in practice, it can be found in most of the interactive casinos and that occasionally, it can be used for transactions to and from the online casino you have picked for your real-money bets.
How it Works
Despite the fact that the procedure you need to follow when using bank transfers is rather simple, presently, the payment method does not enjoy such an overwhelming popularity due to the fact that currently, there are numerous other ways to transfer your funds in a faster and a safer manner, which seems to be some of the major concerns gamblers have. Still, here we will try to shed some more light on the some of the most important aspects of the way the payment method functions.
Bank transfers can be made between accounts belonging to the same bank, to different branches of the same bank, and even to accounts registered with different banks. To put it another way, when you wish to fund your gaming account at the interactive casino you have picked, you will have your funds transferred directly from your bank account to the web-based casino, which promises that your security will be guaranteed.
Gambling aficionados who wish to use bank transfer in order to wrap up a payment to the gaming website need to know that they will be able to so in several ways. One of the options interactive players have is to visit the bank and to fill in all the needed information. Still, if this idea does not appeal to you, you should be informed that you can also initiate a payment using your online banking or resort to your smartphone.
Still, in order to make a payment interactive players will need an IBAN and a BIC code. The first code is used in order to identify the account of the gamblers who have initiated the transfer of funds. Thanks to the second code, the system will be able to identify the name of the bank and the country in which it is situated.
Casino lovers who are bent on taking advantage of bank transfers when they want to top up their gaming account, should be aware of the fact that there is some more information they need to provide and it includes their name as well as their country of residence. What is more, in order to wrap up the transactions you will also need to indicate the amount you are willing to transfer. Gamblers will also be required to point out the reason why they are making the transaction which is also an important detail they should no forget.
Once you have done this, the bank, you are using the services of, will transmit a message that will be sent to the bank that will receive the funds. Still, it is important to note that when you have initiated a payment, the bank where you have opened an account should check the information you have provided, which is why payments via bank transfers are not that time-efficient and may take up to several business days. In most cases, your funds will become available within 3 to 5 business days, provided that all the information you have given is accurately written.
If all the information you were asked to provide was accurately entered and most importantly, the funds are available in your balance, the transaction will be then carried out and you will be able to avail yourself in the games that most appeal to you.
The systems that are utilized by banks to transfer funds vary greatly from one institution to another, which is why the timeframes within which money is sent or received will vary greatly from one bank to another. The charges you will need to pay are also bank-specific, which is why it is advised to check this in advance prior to resorting namely to this way of funding your gaming account at the preferred web-based casino. The time it will take for your funds to be credited to your account or the period within which you will receive them once you have requested a withdrawal will also depend on the amount of money you are planning to transfer.
It is worth noting that instant bank transfers are yet another option gambling aficionados can resort to when they wish to transfer their funds directly from their bank account to the interactive casino. As you can probably guess, your funds will be transferred in a matter of a few seconds, which sets the payment method apart from the usual bank transfers. Still, the problem is that instant bank transfers have not become so widely-spread yet and they can be found in a handful of interactive casinos.
Funding a Casino Account with Bank Transfer
Even though some interactive players are reluctant to fund their gaming accounts via bank transfers, the ones who are more inclined to make use of the payment method that is really easy to use are aplenty. In fact, the reasons why so many interactive players prefer utilizing the payment method are many, but it is so well-liked primarily due to the fact that it allows casino lovers to transfer higher amounts of money. What is more, it also enjoys a great popularity among more security-conscious gambling aficionados.
In the event that you are one of the gambling enthusiasts who wish to take advantage of bank transfers in order to load your gaming account with cash, you should be informed that you will need to follow several very simple steps in order to do so and that you are highly unlikely to encounter any difficulties.
Avid casino fans who have already registered with an interactive casino that meets all their demands and that accepts payments via bank transfers just need to visit the Cashier section of their account and select Bank Transfers as a way of payment of choice. Once you have done this, you will be asked to pick the bank where you have an account.
After you have done this, you will be enabled to log into your online banking account in order to complete the transaction. This is also when you will be asked to provide the respective information about the web-based casino. It is advised that you check the information you have provided cautiously as even the smallest mistake you have made can prolong the period within which the transfer of funds will be handled. The last thing you need to do is to enter the amount you want to deposit and to click on confirm.
Casino lovers should remember that once they have completed the aforementioned steps, they will not be able to reverse the transaction.
Withdrawing Funds Using Bank Transfers
One of the best things about bank transfers is that interactive players can take advantage of the payment method also when they want to retrieve their funds. In practice, the procedure gamblers need to follow when initiating a cashout is almost the same as the ones you followed when you were topping up your account.
Players who want to withdraw their funds will once again need to head to the Cashier section and to select Bank Transfers from the withdrawal options the web-based casino supports. Then, you will need to provide the required information to authorize the transfer of funds.
Still, avid casino fans should bear in mind that bank transfers may not be the perfect option they can resort to when they want to cash out their funds due to the fact that the processing time might be dramatically prolonged.
Mobile Bank Transfers
Nowadays, there are mobile applications that make every aspect of your life much easier. The majority of banking institutions are also providing mobile applications in order to present their customers with easier access and control over their money.
It is worth checking if your bank offers a dedicated app for your mobile device, as this will help you have a constant access to your account. Having the opportunity to see your available funds and the transactions that have been made, will allow you to manage your bankroll with ease and spot any issues right away.
Since banking institutions are always concentrating on improving their security levels, you can be sure that even if you are using your mobile phone to access your bank account, there is no reason to worry about your money. In fact, due to measures such as fingerprint scanning and two-factor authentication, many people consider mobile banking even a safer way to manage their funds.
If you are using a bank transfer for your deposit or withdrawals at a virtual casino, you can easily see where your money is going thanks to the mobile application of your bank. What is more, you can keep a track of all your transaction and look for the winnings you are waiting to receive from the virtual casino.
Advantages of Bank Transfers
One of the biggest advantages of bank transfers that virtual casino members can enjoy is the fact that it is a common method accepted at gaming websites. While there are often restrictions about the deposits or withdrawals, bank transfers are a commonly seen as an alternative method that many casino aficionados can utilize. Before you start playing for real money online, you should always check the payment options you are provided with. Even if one solution can be used strictly for deposits, you can often rely on banks transfers for receiving your gaming funds.
If you are uncertain about the virtual casino where you play at and you often do not know whether you can trust a certain company, there is a certain advantage of using bank transfers. Since this service is connected to your personal account, at the financial institution of your choice, you can most definitely trust this method. Initiating transaction by connecting your bank account with your casino account is definitely a lot more reliable than resorting to third-party companies you know nothing about.
Since you will be using your personal banking information to go through with the bank transfers, you will not have to create a new account with another payment service. Since you will be asked to provide your banking information, you will already have all the details that you need. This is very convenient for those who do not like going through the process of creating accounts and providing their personal details to third-party companies.
Safety is yet another great point of utilizing banks transfers for your casino payments. Since banking institutions work hard on providing top-level security, you can always have a peace of mind when you manage your casino funds. The majority of major financial institutions utilize security measures such as SSL encryptions, physical access to data storage centers and other advanced technologies that ensure additional layers of protection. On many occasions, it is better to rely on your bank than on a third-party company when it comes to managing your online casino money.
One of the downfalls of many payment solutions is that they can often be used only for deposits or strictly for withdrawals. Bank transfers, however, are most commonly accepted as both deposit and payout solutions at web-based casinos. This spares players the inconvenience of utilizing more than one payment method when they play online.
Disadvantages of Bank Transfers
Even though bank transfers are rather easy to use at online casinos, they are often considered as a last resort for players who cannot utilize other payment options. The reason for that is the fact that there are quite a few lacking points to this method, at least when it comes to managing casino funds online.
A disadvantage of depositing funds via wire transfer is the time it takes for the transaction to be completed. Every player knows that nothing kills the passion for playing like waiting. While services like credit/debit cards and e-wallets can help players boost their gaming accounts instantly, banks transfers require a much longer time to transfer funds from your bank account to your casino balance. The same goes for withdrawals via a bank transfer. In some cases, it may take a whole week or even longer for players to receive their funds. This is definitely a great disadvantage, especially compared to other banking methods that are accepted at many virtual casinos.
Not only do bank transfers take longer than other payment methods, but they often impose bigger additional charges. Some important details you should be aware of are the fees you have to pay in order to complete the transaction. The amount varies from bank to bank. That is why players must check the fess that your bank may have you pay for making payments to or receiving money from interactive casinos.
Another disadvantage of using a bank transfer for deposits at virtual casinos is the fact that there is no possibility of tracking your transaction and requesting a chargeback. After you have initiated a transaction and the corresponding fees have been charged, there is hardly any chance to reverse the payment you have requested.
Bank Transfer Fees
While some virtual casinos may impose no additional charges for making deposits or withdrawals via a bank transfer, often players have to pay certain fees. These may be a result of the fee policy of their banking institution. The additional charges that apply to transactions to and from your bank account may vary, depending on your bank and its policy. What is more, international transactions are often a lot more expensive and can impose bigger fees. Before you opt for this payment method for funding your casino balance or withdrawing your winnings, it is important to check the transaction fees of the financial institution you are using.
Wire Transfer is a relatively secure payment method as you do not share essential information with third parties. No matter if you initiate the transaction via your online banking page or you go to the bank, your confidential information shall not be shared with anyone. In most cases, the receiver is enabled to see your name and the last four digits of the card number. With that being said, there is definitely a difference if you opt for using a bank transfer in the virtual casino of your choice or you resort for an alternative method such as credit card. While virtual casinos automatically save your card details the first time you use your credit/debit card, bank details are never automatically saved. This contributes to your safety while utilizing the method of bank transfer.
What casino games you can play with Bank Transfer account?
- Slots: 3 reel slots, 5 line slots, video slot machines, bonus slots, jackpot slots
- Video Poker- Jacks or Better, Tens or Better, Deuces Wild, Aces and Faces
- Roulette- French Roulette, American Roulette, European Roulette, Live Roulette
- Blackjack: European Blackjack, Switch Blackjack, Spanish Blackjack, Live Blackjack
- More table games: Craps, Baccarat, Casino Hold’em, Caribbean Poker