A bank transfer, commonly referred to as a wire transfer, takes place when money is transferred from one bank account to another bank account. This can include a company’s bank account or an online casino bank account. The transferring of cash via your bank account is a safe method for the funding of your casino account as well as the withdrawing of winnings, and generally, will not incur additional charges that many other methods will apply.
Why Bank Transfers are Recommended
This is a convenient method that transfers the funds electronically to friends, merchants or online casinos throughout the world. Its popularity remains high as it does not restrict limits in so far as the amounts that can be sent or received and is a reasonably fast process with funds received in two to five days.
Bank Transfer Banking Security
Players who select to use Bank Transfers need to check if the online casino they are members at offer bank transfers as part of their payment options. It is best to select a method that is available in the country to which you reside as there are multiple options online that offer/process bank wire payments. The processing of a deposit or withdrawal will require personal information, bank account information and a SWIFT or IBAN code. This information identifies the bank account the funds are to be received and identifies the financial institute that those funds are to be processed to.
Creating A Bank Transfer Account
Bank Transfers can be completed from your personal bank account and do not require registration at an e-wallet or other institution. International transfers are not instantaneous and can take up to five days before funds are available. Obtaining the online casinos SWIFT or IBAN code is vital since it provides the bank with the necessary information to transfer funds to the specific casino. IBAN is the International Bank Account Number, and the SWIFT code is an identifier code for the particular bank that you have chosen to transfer funds to and ensures that the monies are transferred correctly.
Bank Transfer Fees
It is common with a bank wire to incur fees. Your bank charges this fee and is consistent with the fees associated with the transferring of funds. The costs for international transfers differ hugely and will depend on the country where the sender resides as well as the country in which the online casino is based within.
Benefits Using Bank Transfer
The greatest benefit is that no additional accounts need to be opened and all transactions take place from your bank account. Bank Transfers can be made from your personal desktop, laptop or mobile, which makes funding your casino account super easy. Bank Transfer is one of the most secure options available to online players although it is important to remember that funds could be available for two days only and the cost involved could quickly add up especially for international transfers.