Casinos Accepting Bank Transfer

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Some casino players still prefer familiar payment methods such as bank transfers, despite the growing popularity of modern solutions like cryptocurrencies and digital wallets. Bank transfers remain widely accepted at most, if not all, online casinos and are typically supported for both deposits and withdrawals. The method offers several advantages, starting with its relative simplicity and high level of security. It is ideal for players who do not have credit or debit cards or are simply unwilling to use them for gambling-related transactions.

Despite this, bank transfers are worth considering due to their broad availability and high reliability. You will encounter them under different names in online casino cashiers, including wire transfers and electronic fund transfers. This article provides extensive information on how to initiate casino deposits and withdrawals using bank transfers. Topics such as fees, limits, and security are also covered to help players determine whether bank transfers are suitable for them.

Pros and Cons of Bank Transfer Casinos

• Pros
  • A familiar and highly reliable method
  • Accepted by most online gambling operators
  • Higher withdrawal ceilings
  • Supported for both deposits and withdrawals
• Cons
  • Higher minimum limits for deposits and withdrawals
  • Some casinos charge additional processing fees
  • Slower processing times

How Bank Transfer Works

A bank transfer is the electronic movement of money from the payer’s bank account to the payee’s bank account. It can be completed via phone banking, through online banking services, or by physically depositing money at a bank branch or cash office.

Gamblers who choose bank transfers to make deposits at online casinos should be aware that even after an order and payment are made, the processing of the transfer may take a few days to complete. It usually takes about five business days, and even longer if the transaction involves an international transfer. The only exception is the so-called Instant Bank Transfer, which is generally completed within minutes but is limited to particular countries and banking institutions.

Additionally, there are usually fees involved. Depending on your bank and the casino’s bank, these can be insignificant or quite substantial. Contact the banks involved in the transaction beforehand so you are not unpleasantly surprised.

How the Bank Transfer Procedure Is Carried Out

To make a successful bank transfer, the individual or entity needs to instruct the bank to “send” a certain amount of money to the payee. To identify the payee, the bank needs two crucial codes – the BIC of the payee’s banking institution and a valid IBAN.

The unique BIC (Business Identifier Code), also known as the SWIFT code or SWIFT ID, is used globally to identify financial and banking institutions. The IBAN, or International Bank Account Number, represents a globally recognized system for identifying bank accounts and consists of up to 32 characters.

When you fill in the form at your bank or online, you will need to enter your name, address, and birth date, as well as all available information about the receiver. When making a deposit to an online casino, this will include the entity’s name, country, BIC, and IBAN. You must specify the amount you wish to deposit, as well as the reason for the transaction. In this case, players should note that they are making a deposit to their online casino accounts. In some instances, you may be required to specify the deposit with a particular code – if needed, the casino will provide this “Deposit” code.

The payer’s bank must verify the provided data and, once verified, contact the payee’s bank. The receiving bank must also verify all transaction data, which can take another one or two business days. If the transaction is approved, the money will then be electronically transferred from the payer’s to the payee’s account.

Instant Bank Transfers

Some online gambling providers offer instant bank transfers as one of the payment methods available on their websites. As the name indicates, this is an instant transfer of funds between bank accounts, typically performed online via third-party digital service providers such as Trustly, Giropay, PayPal, and others.

The transactions are carried out immediately, so players can see their money transferred to their online casino accounts within seconds. Using a third-party e-payment service offers an additional level of security, as no personal or online-banking information is disclosed at the online casino.

However, instant bank transfers are offered by only a few banking institutions and by even fewer casinos. Traditionally, bank transfers do not pair well with the word ‘instant’. It is important to note, though, that the systems currently in place are undergoing changes. Within the next few years, truly instant international bank transfers are expected to become a reality.

Depositing at Online Casinos via Bank Transfer

Despite the slower processing of bank transfers compared to methods such as credit/debit cards or e-wallets, many gamblers still use them as a deposit option. They offer a high level of security and the opportunity to deposit large amounts of funds.

To fund your online casino account, visit the Payment or Cashier page at the casino and choose “Bank Transfer” from the list of deposit methods. You will then be redirected to a page displaying the casino’s bank-account details, along with any specific requirements regarding the deposit order form.

Whether at your local bank branch or online, you will need to enter your personal and financial information, along with the casino’s data, including both parties’ IBANs and BIC codes, in the transfer form.

The Cashier page may also redirect you to a list of available banking institutions in your country. In this case, choose your bank and proceed to a secure link where you can log in to your online-banking account. The next steps are the same – you fill in the casino’s data and then enter the amount you wish to deposit.

In addition, bank transfers allow players to choose their preferred currency. You can make the deposit in USD, and the funds will then be converted into the currency selected in your online casino account.

After you confirm the transaction, you can expect a confirmation email from the casino. The casino will send you an identification code for the transfer. Note that this is not a verification number but a code you can use to check the status of the transaction.

The transfer will take several days to complete, and in some cases it may take more than a week. Such delays occur mainly when transferring funds internationally. If you are transferring funds within a country, the time taken is usually shorter. Other factors, such as whether the accounts are located within the EU, can also affect the speed of your bank transfer.

Withdrawing Winnings via Bank Transfer

Bank transfers are accepted by almost all online casinos as a withdrawal option. The procedure is the same as for making a deposit – on the Cashier page, choose “Bank Transfer” as a withdrawal option. Then proceed to your online-banking account, or note the casino’s financial data and use it to make the withdrawal at your local bank.

Fees can range from a small percentage to a fairly large one. Usually, banks are not obliged to notify you of this fee; they simply deduct it from the amount you receive. If you decide to withdraw your online-casino winnings via bank transfer, check with your bank to ensure you are comfortable with the fee it will impose.

You must first wait for the casino to verify your identity, then wait for it to process your withdrawal request. After that, you will need to wait for the transaction itself, which can take up to 10 days to complete.

Fees and Limits

Banks usually charge substantial fees for wire transfers, which is a serious issue for many players. The amount of the fee is determined by each bank; it can also vary depending on whether the transfer is international or domestic, and it may sometimes be calculated as a percentage of the deposit you are making.

Typically, topping up an account may cost players between $10 and $40. This depends greatly on their location and bank of choice. In some banks the fee is fixed, while in others it is calculated as a percentage of the transferred sum.

One of the main reasons for using bank transfers for online gambling is that this method allows large amounts of money to be deposited with a single transaction. The same is true for withdrawals. The limits for deposits and withdrawals will also depend on the specific conditions of the particular bank.

Security

Using bank transfers at online casinos is one of the safest ways to fund your gambling account and receive your winnings. Online banking and most reputable online casinos are protected by SSL encryption, which guarantees that all personal and financial information entered is kept private.

Besides, the risk of fraud or identity theft when making a deposit at a local bank branch is close to zero. That said, such cases are not unheard of. You must ensure that the online casino you choose is entirely legitimate and that you have the correct IBAN and BIC/SWIFT codes. If even one digit is incorrect, any bank involved in the transfer may freeze your account on suspicion of identity theft or fraud.

Other than that, you have little to worry about regarding security. After all, you are using your own bank to carry out the transaction. Of course, it is always wise to make sure that the bank used by the online casino is also reputable.

A remaining security issue is that if you send a wire to a cash office or to a person you do not know well, you may end up losing your cash with no goods or services received. If your chosen casino asks for this type of transfer, double-check that it is truly how it conducts bank transfers, because you might be getting ripped off.

However, if you make sure you have the correct details, there is no safer way to pay. The casino’s servers do not actually store your banking information. While card details are almost always automatically saved, bank-account details are never saved. Therefore, they are inaccessible to third parties. Moreover, more information is required to use a bank account than a credit or debit card, making it harder for someone to steal.

Advantages of Bank Transfers

One of the major benefits of using bank transfers at online casinos is that players do not necessarily need to have a bank account to order a payment. Once you have the casino’s banking details (the BIC and IBAN), you can proceed with your deposit. Wire transfers are available to anyone who wishes to gamble online – the method is accepted by almost all casinos and is a legitimate option worldwide.

Another advantage of this method is that it is relatively simple – although players may be required to provide detailed information about themselves when filling out the transfer form, most are already well acquainted with the process.

Bank transfers are also incredibly safe, and most casinos offer higher limits for this payment method. It is convenient for players that currencies are converted automatically according to the bank’s exchange rate on the day of the deposit.

Another benefit of bank transfers is that if they are available for deposits, they will definitely be available for withdrawals as well. This means that players can deposit and withdraw using the same method, which is not always the case with other “classic” methods; for example, you can usually use Mastercard to deposit but not to withdraw funds.

Disadvantages of Bank Transfers

Although the bank transfer is among the oldest payment methods, it is also one of the slowest. Processing times – ranging from one to five business days – make this a less favourable option, especially for players who wish to play immediately or withdraw their winnings quickly. The process can be delayed by even the slightest error when entering the casino’s financial data.

It is recommended that you check with your bank to ensure you are fully aware of all applicable fees, especially given that the fees sometimes reach (and even exceed) $30, while the minimum withdrawal amount is often about the same.

Another disadvantage of using this method to deposit funds is that there is virtually no chance of getting a chargeback. Once the money is out of your account and fees have been deducted, reversing the transaction is almost impossible.