Bank Transfer

Casinos with Bank Transfer

Bank Transfer Overview

A bank transfer or wire transfer is a way to transfer funds from one person or institution to another. As opposed to other e-wallet payment methods, bank transfers are carried out by banks, institutions that are renown for their experience and the safety of their vaults. Wire transfers are a sure way to deposit and withdraw funds on online casinos. Yet, this process sometimes involves processing fees and significant waiting times. This article will give you all the information you need to know on using bank transfers on online casinos.

Bonus

There are usually no specific casino bonuses given to players who deposit and withdraw money on online casinos with wire transfer. However, because this is such a popular and widely-used method, deposits are, of course, eligible for casinos’ generous welcome bonuses. For more information, feel free to check out the list of wire transfer casinos above, compare their bonus conditions and get ready to play.

SEPA Bank Transfers

SEPA is short  for “Single Euro Payments Area” and is the name of cross-border Euro bank transfers as regulated by the EU. The goal with SEPA is to make cross-border Euro transfers within the EU equivalent to domestic transfers within a single country.

The countries that use SEPA are the Eurozone (countries within the EU that have the Euro currency) and a few other countries which also support Euro bank transfers.

SEPA cross-border transfers are supposed to be charged like domestic transactions, and there should be no fees for accepting money. In general a SEPA transfer should not take more than 1-2 bank days.

ACH Transfers

An ACH transfer moves money between banks through the Automated Clearing House network – one of the biggest U.S. payment systems.  ACH transfers are typically cheaper than wire transfers, but can take several bank days as they are processed by a network operator in batches just three times per day.

Many third-party payment providers use the ACH network, probably due to the low fees, and the slow processing time is now being addressed with efforts to make same day delivery possible.

Advantages

Bank transfers are certainly one of the most popular deposit and withdrawal payment method on online casino. Looking at the list of its advantages, it becomes easier to understand why:

• Simplicity: e-wallet services usually require the creation of a new profile, a personal information form, a confirmation email and many other administrative steps… If you already have a bank account, then no need to worry, you are all set to start playing on your favorite wire transfer casino!
• Safety: because wire transfers are overseen by renown financial institutions, they are a very safe way to transfer funds in and out of a casino.
• Privacy: wire transfers do not require sharing any personal information with an online casino and is therefore a great way to keep your privacy as an online player.
• Availability: one of the most important advantages of wire transfers is certainly that they are available as a deposit and withdrawal method on most online casinos.

Disadvantages

However, even if wire transfers present a lot of advantages, they also have some downfalls that are important to consider:

• Waiting times: Wire transfers are one of the payment methods that require the longest waiting times (along with credit cards transactions). Withdrawing your winnings with a wire transfer could take between three and seven working days, whereas withdrawals carried out with e-wallets are quasi instant.
• Banking fees: As wire transfers are overseen by banks, they usually involve significant processing fees. Feel free to get in touch with your bank to learn more about this process.
• Banking details: Yes, wire transfers are more anonymous than e-wallets because they do not require any name or email address. However, sharing your banking information could also come with some risks such as online fraud.

To avoid scams, make sure to check out our casino reviews.

Fees

Online casinos usually do not charge any fee on wire transfer deposits and withdrawal. To be sure, it is heavily recommended to read a given online casino’s terms and conditions.

However, many banks charge fees for sending and receiving funds through wire transfers. As the amount and structure of the fees largely depend on your bank’s and the casino’s geographical location, it is impossible to come up with a definitive answer in a single article. Reaching your bank’s customer service is the best way to clear any doubt you may still have.

Currencies and Availability

In contrast with e-wallets, bank transfers are not limited by a given sets of currencies or countries. Because banks work closely with one another, they can easily convert any currency into any other. However, this process sometimes involves marginal conversion fees. The only limits to the availability of wire transfers depend on casinos themselves that might have certain country limitations.

Creating a Bank Account

Wire transfers only require a functioning bank account in an active bank. Bank accounts can be created in a few days (depending on the bank and country) by reaching out to a financial institution. Every bank has its own way of doing things, but usually, you will have an appointment with an adviser to find the best banking solution for your situation. You may also be able to apply online. Opening a bank account is not usually a quick process however.

Funding Account

To carry out a wire transfer, you must have a funded bank account. Money can be deposited in a bank account in the form of cash, or with a wire transfer from another account.

Depositing

Depositing funds with a wire transfer is a very simple process.

1. Login to your account at your favorite online casino
2. Go to the deposit tab
3. Select wire or bank transfer as a payment method
4. Determine the amount you would like to deposit
5. Follow the instructions given by the payment terminal (that will ask you for your banking details)
6. After a given waiting time, you will be able to start playing!

Withdrawing

Just as depositing, you will be able to withdraw your winnings with a wire transfer in a few steps:

1. Login to your account at your favorite online casino
2. Go to the withdrawal section
3. Select wire or bank transfer as a payment method
4. Determine the amount you would like to deposit
5. Follow the instructions given by the payment terminal (that will ask you for your banking details)
6. After a given waiting time, your earnings will be visible on your account balance

Security

What is important to keep in mind with wire transfers is that they are overseen by banks, institutions that have been taking care of people’s money for hundreds of years. Wire transfers are, therefore, one of the safest payment methods around. However, there are a few important details to keep in mind.
By making a wire transfer deposit, your transaction will be anonymous, yet, you will have to share your banking details with an online casino. This type of personal data could prove to be rather sensitive. Therefore, before making a wire transfer, it is heavily recommended to make sure that the casino you deposit money on is trustworthy.

Support

If you ever need any support in the process of depositing, withdrawing or searching for more information, feel free to reach out to your bank through your favorite medium, be it phone, emails and live chats. The quality of the support you will receive will ultimately depend on the bank you have chosen.

VIP Program

Each bank will have its own way to reward its users for their loyalty. However, most of the time, banks do not attribute loyalty points for wire transfers. This is certainly not the case with credit card transactions.

FAQ