Should You Use Bank Transfer for your Online Casino Transactions?
Bank transfer, likewise known as wire transfer, is regarded as the oldest and most trusted payment method used by people from all around the world, especially when it comes to making transactions on their online casino accounts. A bank transfer method is used to transfer money from the bank of the payer to that of the recipient’s.
An Overview on Bank Transfer
This type of payment method, like any other methods such as credit card and PayPal payments, has both positive and negative sides. In case you’re wondering, this type of payment method is made through an electronic transfer of money from one bank account to another. The problem with bank transfers is that they are slowly losing their popularity. This is because newer, safer, and even faster payment methods are being introduced such as e-Wallets, credit cards, and any other financial products that avid gamblers might use.
Various wire transfer operators tend to provide their customers a wide range of options in order to meet their needs and requirements when it comes to transferring money. However, these options will also vary depending on several other factors such as the volume, value, and transaction costs. To start an international bank transfer, you could either choose one of the following:
- Online banking
- Visiting the bank and completing a payment form
- Mailing a payment form to the sending bank
- Phone banking
The most important feature of a bank transfer is that it is initiated by you, the customer. For this reason, the payment is “pushed” to the bank account of the receiver. Keep in mind that there is no way of reversing the transaction once the payment is completed. The only way you can get back what you’ve paid is to ask your receiver to make a refund.
How to Use Bank Transfer Method in an Online Casino
To use bank transfer method in an online casino, you simply need to visit the payment page and select “Bank Transfer” as the payment method. You will then be redirected to a page displaying the casino’s bank account, or a page with links to the different banks in your country.
If you landed on a page with the casino’s bank account, you will need to copy their details and use them to complete the Bank Transfer form in your own bank. Meanwhile, if you landed on a page with links, you simply need to choose your preferred bank and login to your online banking account to complete the transaction. If often takes 3 to 5 days before you can receive an email from the casino, stating your deposit has been successful and can be used to play your favourite casino games.
One important thing you should keep in mind while making a bank transfer is that you should make sure to fill all the information correctly in order to avoid any misunderstandings between you, the bank, and the casino you are making a deposit to. However, another more important thing is the code you get from your preferred casino during the transfer. You will not only need this code during the transfer process, but you will also need it to identify the transfer until the deposit has been successfully confirmed.
Other than making a deposit, it’s also possible to make withdrawals using bank transfer. In fact, almost all online casinos accept international bank transfer as a legit withdrawal method. If your online casino don’t have a familiar bank transfer service on their cash out page, it’s best to contact their customer support and find out how you can withdraw money through a wire transfer.
Advantages of Using Bank Transfer
As one of the most secure payment option in an online casino, bank transfer comes with several advantages you can enjoy. They are the following:
- Bank transfers are safe and secure. Online transactions that are carried out using bank transfers are encrypted.
- With bank transfer method, you can be able to withdraw funds from your online casino account to your bank account.
- Another positive aspect of bank transfers is that they are a popular payment method for many people around the world. This only shows that bank transfers are indeed a secure and reliable means of transferring money.