The majority of reputable bank institutions offers online banking options to their customers and enables them to pay bills, make transfers between two accounts, process pending payment requests, make deposits.
- Creating an Account
- Funding Your Casino Account
- Withdrawing Funds
- Advantages of Online Banking
- Disadvantages of Online Banking
- Online Banking on Mobile Devices
A transaction can be initiated at any time as you have access to your bank details 24/7. However, if you make a deposit request after the working hours of your bank, it will be processed on the next business day. It is important to note that while some banks enable their customers to take advantage of online banking or go to the physical branch, some others operate through the Internet only.
Since online banking has become a commonly used service, many virtual casinos are also accepting payments made via this method. Thanks to online banking, interactive players have the chance to transfer funds from their bank account to the online casino of their choice in a fast and easy manner.
Creating an Account
In order to gain access to your bank information through the Internet, you have to go to the webpage of the bank you have an account with and complete the registration form. You will be prompt to enter your personal details as well as your card number. You will not be able to start using your account instantly, however, as it first needs to be verified. Sometimes, it is necessary to make a trip to the local branch of your bank in order to receive a username and password or instructions on how to activate your account. It is recommended to familiarize yourself with the requirements for opening an online banking account of your bank prior to using this service.
Once you are done setting up your online banking account, you will be able to access it anytime you want. All you will need to log in will be your username and password which were provided to your by your banking institutions.
It is also possible that your bank does not offer the service of online banking. However, this is not a reason to worry, as there are various third-party services which play the role of a mediator between your bank account and the online casino where you play.
Funding Casino Account via Online Banking
Once your account is verified, you will be able to make payments and deposit funds to your online casino account as well. In order to do that, you need to make sure the bank you have an account with processes transactions to gambling-related websites.
Many players prefer this payment method when it comes to funding their gaming balance. The reason for that is often the fact that they do not feel comfortable sharing their debit/credit card details with virtual casinos.
If you wish to use online banking as your deposit method at an online casino, you must head to the Cashier section of the website and pick the “Deposit” option. The next step is selecting Online Banking as your preferred payment method. This will redirect you to a page where you will have to fill in the details that will allow you to log into your online banking account. The information that you will be asked to provide may vary depending on your banking institution. Sometimes players are asked to provide only their user ID and password in order to connect to their virtual bank account. In other cases, there might be a request to fill in additional information which ensures a higher security. All that is left is to enter the amount you would like to upload to your gaming account and confirm the transaction.
Usually, virtual casinos do not charge their members any additional fees for making deposits via online banking. This being said, players are advised to check the Fee Policy of their banking institution as they might have to pay some fees for making transactions via their online banking account.
Withdrawing Funds via Online Banking
Often, it is difficult to utilize the same payment method for both deposits and withdrawals. Online banking, however, can be often used for both boosting one’s gaming balance and withdrawing winnings. The whole process is just as easy as making a deposit via the online banking method. You have to head to the Cashier Page yet again, select the “Withdrawal” option and pick Online Banking from the list of accepted payment solutions. This will redirect you to a page that will ask you to log into your online banking account. After entering the amount you would like to withdraw, all that is left is confirming the transaction.
If you have never withdrawn winnings before, you will most probably be required to enter some additional bank details. Once the procedure is over, it may take a few days until you see your winnings in your bank account.
Advantages of Online Banking
Online Banking is definitely a payment method which ensures plenty of advantages. Even though everything seems easier and more convenient once it is done online, playing at virtual casinos, especially for real money, often imposes some risks. As many casino members try to avoid exposing way too many personal details, they look for alternative payment methods that allow them to reveal as little sensitive information as possible.
Online banking is definitely a method that will spare you the trouble of providing credit/debit card details or any other important information. By utilizing this payment method, you can be sure that any sensitive information is shared only between you and your financial institution. This guarantees that virtual casinos will not be able to take advantage of your personal details.
Another very convenient feature of online banking is the constant access to your bank account. You will have the chance to log into your online banking any time of the day, as long as you are connected to the Internet. Having 24/7 access to your bank account will allow you to see if there are any pending transactions or were they processed. This feature will show you all of the transactions to and from your account as well as your current balance.
One very useful perk that comes along with the constant access to your online banking account is the fact that you will be able to spot any transactions that you have not authorized. This way you can react quickly, contact your bank and request a reversal of the charges.
Many virtual players also prefer to use online banking at online casinos because they are rarely charged any additional fees for utilizing this method. Even if there are some extra charges they are most likely more cost-friendly compared to the fees that incur as a result of using other payment methods. Even though often online casinos do not charge additional fees for using online banking services, you should always check the policy of your banking institution as it may charge you extra for making transactions.
In addition to the convenience of accessing your online banking account any time you like, you can also enjoy the perk of tracking your transactions even when you are on the move. Many financial institutions offer mobile applications or have made their websites fully optimized to run on portable devices. This will give you the chance to access your online banking account anywhere, at any time of the day, as long as you have a stable Internet connection.
Online banking has become quite the popular payment method at virtual casinos. One of the biggest perks of resorting to this payment solutions is that at most web-based casinos, it can be used both for deposits and withdrawals. This is very convenient as interactive players often have to utilize two different methods for their uploads of funds and their withdrawals. Being able to rely on online banking for all of your transactions will definitely make your managing of gaming funds easier.
Even if your bank does not provide the online banking service, there is still a way to transfer funds from your bank account to the virtual casino where you play. Many web-based casinos accept payments via services which serve as mediators between your bank and the online casino where you upload or withdraw funds. Since such services have become very popular among the online casino community, you will not have difficulty finding a virtual casino that accepts payments via such go-between methods.
It is only natural to hate wasting your time, waiting on endless queues at financial institutions. This is probably one of the biggest advantages of using the service of online banking. It will allow you to keep a track of your transactions and manage your funds without leaving the comfort of your own home.
Using online banking can offer quite a few convenient perks even outside your online casino experience. The service allows bank customers to pay their utility bills in an easier way. Thanks to online banking, you can make a one-time payment or set up recurring payments that will allow you to manage your utility bills without wasting any of your free time.
Disadvantages of Online Banking
Even though that many virtual players find online banking for a great way to manage their casino funds, there are some disadvantages which may affect your decision.
While it is true that online banking offers easy deposits, the speed of the transactions is definitely worse compared to methods that allow an instant boost of one’s casino balance. It may take a few hours for your money to appear to your gaming account. What is more, if you initiate the transaction after the working hours of your bank, your deposit will be processed on the next business day. This is definitely inconvenient for virtual players who are eager to play online for real money. If you think that slower deposits may be an issue for you there is the option to opt for instant banking. This service will allow you to use your bank account but will make the transactions faster.
Unfortunately, withdrawals via online banking also take longer, compared to other payout options that virtual casinos may accept. Sometimes, it can take up to 10 business days to receive your money which is quite inconvenient, especially if there are faster alternatives.
As it was mentioned earlier, some banks may not offer the service of online banking. This is not always an issue that should worry online casino members since they can opt for using different online banking methods. This being said, sometimes these services are provided only in a limited number of countries. What is more, sometimes bank institutions do not support such mediatory services and you will not be able to use them for funding your casino account or cash out your winnings.
It is possible that the virtual casino where you play may allow its members to transfer their winnings to their bank account via the online banking method. There is, however, the possibility that your financial institution is not allowed to process the transaction due to regulations in your country of residence. If your jurisdiction does not allow banks to process transactions to or from gambling websites, your withdrawal will be declined and you will have to look for an alternative cashout method.
Although the lacking points of this payment method are not that many, those are issues worth considering when you are choosing the way to make deposits and withdrawals at online casinos.
Online Banking on Mobile Devices
As it was mentioned earlier, one of the advantages of utilizing online banking is that it is often available on mobile devices. Since the majority of major banks have their own dedicated mobile apps, their clients can have control over transactions anywhere they go, any time of the day. All that you need in order to access your online banking account via your smartphone is a stable Internet connection.
The obvious reason why mobile banking is extremely useful is the fact that you will be able to keep a track of your account anywhere you go. Even when you are not at home, you can use your smartphone to check any pending, processed or even unauthorized transactions. You can even make a use of features that will notify you whenever there are any changes in your balance or there are deposits that must be confirmed.
Even though you will be accessing your online banking account via your mobile device, you can be sure that you and your money will be properly protected. This is due to the fact that the majority of financial institutions always work hard to provide a top level of security and their mobile applications make no exception to that. Thanks to features such as fingerprint scans, two-factor authentication and advanced encryption technologies, you can be certain that mobile banking is just as safe as accessing your account via your personal computer.
Even though mobile banking is a safe way to manage your funds while you are on the move, avoid connecting to public Wi-Fi, especially when you are initiating transactions. You can never be sure who will be able to see the information that you are sending if you have connected to a public network. If you are not at your home, it is advised to use your cellular data or a private network, also known as VPN, instead of a public Wi-Fi.
Apart from being convenient, online banking is a really secure payment method due to a variety of reasons. First of all, depositing and withdrawing money from and to an online casino should be regarded as a standard procedure. Plus, before affiliating with a certain casino, each and every bank institution conducts thorough checking procedures in order to ensure its customers’ safety.
Since you are using your own well-trusted bank for your online banking transactions, you can be sure that your money is well protected. Bank institutions often use advanced technologies to protect the sensitive data that is shared between them and their customers which adds an extra layer of protection when you are making deposits or withdrawals at online casinos, as well.
For additional security, you can also take advantage of the so-called token if your bank offers it. This is a one-off PIN code you enter in order to access your funds. This feature, in most cases, is a subject of additional charges but that depends on the policy of your banking institution.
Even if you do not want to use a token, online banking has a high level of security and your information will not be shared with third parties. This is proven by the fact that even the recipient of your deposit will be able to see only basic details that will not put you in danger or expose any sensitive information about your bank account.