Bank transfer, also known as bank wire transfer, is an electronic means of transferring funds from a player's bank account to a casino. This method is safe and secure but not instant; the funds are not credited to the bank transfer casino immediately but may take anywhere from a few hours to several days. Generally online casinos allow customers to start wagering with transferred funds only after two to five working days. Both the sender and the recipient are charged a fee for the transfer service. However, because this method is straightforward to use and does not give rise to charge backs or disputed payments, it is accepted almost universally by casinos.
198 Bonuses at Casinos Accepting Bank Transfers
Bank Transfers in a Nutshell
How It Works
This simple method requires that you have the specified sum in your bank account. You may transfer the funds using online banking or by filling out a form to request the transfer in person at your bank branch. The money will be debited to your bank account and once the transfer has been received and confirmed by the casino, the funds will then be credited as a deposit to your casino account, usually within up to 5 business days. A service fee will be charged to both you and the recipient. (An instant transfer option is also available, for a higher fee.) This method may be used at online casinos to process both deposits and withdrawals.
Transfers are available from virtually every bank worldwide. They are charged to the customer's bank account in his local currency, and then converted to the merchant's local currency. Anyone living in any country who has a bank account may use this method, provided, of course, that they have the funds on hand to cover the transfer amount.
A huge advantage of bank transfers is that they are 100 percent secure. You do not have to give any details that could possibly be compromised, such as credit card numbers, to the casino. In addition, keeping track of your spending is simplified; you are not using credit and thus cannot spend money that you do not have. You avoid any hassle with casinos that may not accept credit cards; casinos welcome transfers for their security factor and their convenience, and may even give you a bonus for using this means of payment. In general, unlike other methods that have relatively modest limits, very large amounts of up to $20,000 may be transferred – good news for high rollers who like to make substantial deposits to their casino accounts. Withdrawals may also be processed by this method.
The limit for withdrawals is set by the casino.