Bank Transfer Casinos
Bank transfer is the oldest form of money transfer and passes as one of the safest and trusted options to transfer funds from one bank account to another. With modern-day payment methods such as e-wallets, prepaid cards, and credit/debit cards flocking the market, bank transfers have remained popular with their availability spreading across every country. This speaks of the billions of people using the method for their day-to-day payments. It is a widely-spread method used to pay for tons of services and products and also used for transferring funds between individuals and entities.
One of the entities that has benefitted from this payment option is the casino industry (both offline and online). For the less tech-savvy, most-seasoned players who do not want any third-party method access, this method has proved to be reliable since the 19th century. What’s more, bank transfers support every form of currency available globally and also help out on any exchange a player may need. Read More
The method is available in almost all casinos globally explaining its popularity and acceptability. It is extremely rare to find one operator that doesn’t accept bank transfers. You will find the payment method referred to other platforms as bank wire, wire transfer, ACH, fast bank transfer, direct bank transfer, credit transfers, or electronic fund transfers (EFT). The modernization aspect introduced has helped improve its customer base albeit the prevalence of other payment options in the iGaming industry. All that is required is to have a bank account with your preferred institution and have the casino banking details to facilitate the payment.
Moreover, users can buy and sell bitcoins with many exchange platforms accepting deposits from bank accounts/transfers. In the US, for example, this can be done via ACH bank transfer while in the UK, this can be done via SEPA transfer.
About Bank Transfer
As stated, bank transfer has been in existence since the 19th century and is among the oldest form of money transfers one will come across. In the early days, money would be transferred physically to a financial institution (bank or a telegraph office) then to the intended person/entity. With industrialization, globalization, and modernization slowly creeping in a new way of money transfer was launched by Western Union (a rebrand of the New York & Mississippi Valley Printing Telegraph Company). This would be known as wire transfer and would grow to be the most successful money transfer method marking a major milestone in the mid-19th century.
Wire transfer involved the transfer of funds between individuals or entities electronically. The service would see people take their money to one branch location and through Western Union, the receiving individual/entity would be sent passwords and codes that they would use to have the payout authorized in the other branch location. This would see users continue to benefit especially with the financial operations automation. To date, Western Union is still in service and is one of the biggest wire transfer transmitters. With the advancements of telecommunication technology, a user can pay a premium for instantaneous transfers on Western Union.
Western Union and other companies including oil companies would then start issuing credit cards which was another breakthrough. Through credit cards, users would have sort of a loan/credit offered to make purchases/payments and they would repay later. Debit cards would also be launched allowing payments to entities directly from your bank account with no bill to pay later. Among the popular credit/debit cards available today include:
- Visa / MasterCard / Maestro
- American Express
- Discover
The introduction of the internet was another major landmark in the banking system and from the computerization aspect added, payments would be facilitated better at a person’s comfort. Top online entities such as online casinos have adopted the direct bank transfer option, a method launched under online banking services by financial institutions. On an online casino of choice, players can now request direct transfers by entering the respective banking details and can be assured of money being wired to the merchant.
Another option introduced is the online instant banking option that allows instantaneous transactions. This will, however, involve third parties such as Trustly, PayPal, Giropay, among others. Moreover, transfers can also be done via bank eCheques that will take a longer period of up to 10 working days.
In a nutshell, modern bank transfers options include:
- Wire Transfers
- Direct Bank Transfers
- Online Instant Banking
- Bank eCheques
- ACH (widely used in the US)
Banking services are still at the heart of many and the growth is attributed to incorporating globalization, industrialization, modernization, and computerization aspects. The aforementioned have seen transfers get a bit faster, secure, and with fewer third parties, many have preferred the method. Its access in all countries and zero limitations placed on any currency have seen no other payment method offer any sort of competition. The only competition may stem from the payment speeds aspects.
Depositing at a Bank Transfer Casino
Bank transfers are generally preferred by many including the less tech-savvy players for their simplicity and the large amounts of money one can deposit. This method gets to be a hub for many high-rollers. However, it is important to check if any deposit limitation is placed on any bank transfer casino. Most will have their minimum deposit ranging from £10-£25.
Some of the banks have placed a fixed fee while others charge a set percentage of the total deposit made. Widely, the charges placed while depositing your account will range between £10-£40. For an efficient transfer, a player will need to meet two main requirements: have a bank account and have a casino account.
Here is a step-to-step guide on how to make successful deposits at bank transfer casinos:
- Log into your casino account and go to the deposit/banking/cashier/my account section (depending on the casino).
- Choose your suitable option from the bank transfer options provided (can be wire transfer, ACH, direct bank transfers, etc.). Ensure to pick the local option in your country.
- Input the amount of money you wish to deposit (keep in mind the minimum deposit set on the casino) and then your banking details that the site requires. This will help develop a link with your bank account so that money can be remitted.
- Confirm the payment and carry out any checks that your bank may have in place. This may be a code sent to you that you are required to input
- Once completed, wait for the funds to be processed from your bank account. Ideally, this might take 3-5 working days.
Withdrawing Through Bank Transfers
Just like deposits, withdrawals are possible at bank transfer casinos and the process is straightforward. To enhance security in the transactions, most online casinos are having verification checks before any withdrawal is made. This may happen immediately after a withdrawal request is made and may take 1-2 days before funds are finally released. Moreover, casinos have a requirement placed that a player should use the same method to deposit and withdraw.
Banking transfers settle well with many for placing high to no limits on the funds that can be transferred. It is extremely rare to find a limit placed on your account for the amount of money one can receive from the online casino. However, it is important to note that some casinos have placed maximum limits on the funds one can withdraw in a day. This can range anywhere around £10,000.
Additionally, withdrawals might be charged from the respective casinos but fees will certainly be placed on the withdrawals made from the bank account. They will vary depending on the value of your withdrawal.
Below is a step-to-step guide on how to receive a payout:
- Log into your casino account and go to the section withdraw/cashier/banking/my account (depending on the casino).
- Select ‘bank transfer’ as your preferred withdrawal method.
- Proceed to input the amount you wish to withdraw and fill in some of the required banking details. The details range from bank name, account type, to account number/IBAN/Swift code.
- Check your banking details and the banking fee attached to the withdrawal before confirming the transaction.
- Confirm your withdrawal and wait for the casino to verify, process, and release the funds to your bank account in 3-5 working days.
It is important to note that bonus winnings will only be withdrawn after the wagering requirements are met.
Bank Transfers Benefits & Drawbacks
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Available in all countries and all currencies
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One of the oldest and most experienced method to transfer funds
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High to no limits placed on the amount of money transferred
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Accessible via multiple devices including desktops and mobile devices
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Widely accepted in casinos (land-based and online)
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Limited third-party access
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Simple to use
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Charges placed on the payments
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Transactions are slowly processed
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Banking details are shared online
Bank Transfers Casino Bonuses
A majority of the online casinos offer new and existing players casino bonuses to attract and retain them. However, some operators have excluded players who deposit via specific payment options such as the e-wallet modes. This is not the case with many bank transfer casinos that provide a variety of bonus types to players. The bonuses can be used to play various casino games and will come with terms and conditions that must be adhered to.
One of them includes the wagering requirements set on the bonuses. To withdraw the bonus and winnings thereafter, one must play through the bonus, deposit, or both a set number of times to meet the requirements. Other T&Cs include eligibility, limits placed, game weightings to help meet the wagering requirements, and bonus validity.
Among the popular casino bonuses to expect:
Welcome bonus – Can be a no deposit bonus or a deposit bonus that will match up the deposits made by a set percentage to a set maximum payout.
VIP Program – With bank transfers placing high to no limits on the transactions, high rollers can expect VIP programs with exclusive benefits.
Aside from those, existing players can still enjoy a bunch of more bonuses ranging from reload bonuses, cashback offers, to daily offers.
Bank Transfers Casino Games
With the method widely accepted in many online casinos, players benefit at the same time by accessing tons of operators’ game portfolios. Depending on the bet sizes of the different game titles, players will be thrilled to use a method that caters for both low-stake players and high rollers. The best picks at the casinos include:
- Slots – Enjoy top classic slots, video slots, and progressive jackpots that offer giant grand prizes. New players are advised to start by making frequent but small deposits before committing big deposits.
- Table Games – Enjoy a host of top popular high roller and low-stake Roulette, Blackjack, and Baccarat titles on the top casinos while accessing the different betting options and features available.
- Video Poker – A collection of popular video poker titles such as Aces and Faces, Bonus Poker, and Deuces Wilds from top providers like Microgaming, Playtech, and RealTime Gaming are available.
- Live Casino – Find improved graphics including 3D aspects on top live casino games such as Live Roulette and Live Blackjack provided by developers like Evolution Gaming with top features that include chat options.
FAQs
While bank transfers have existed for over a century, questions arising from the new developments have always been floated. Some of the recurrent FAQs that may help out casino players include:
