This payment method is also referred to as wire transfer. This is one of the oldest payment methods and has been the most used methods even with the establishment of new payment methods. As the name suggests, the system transfers money from one bank to another. This method started in the ancient times when people physically carried money from one bank to another. This later advanced to people subtracting an given amount from one book and adding the value of the subtracted amount to another.
In the advent of telegraph technology, bank transfers became easier as people sent telegraphs over long distances to communicate of transactions. Western Union was the first electronic money transfer method that made use of the telegraph technology.
With the new technology and internet, bank transfer has been possible in a click of a few buttons making it possible to transfer money from the comfort of your home.
Website: not available
Type of Payment: Wire transfer/ transfer by bank
What do I need to know about bank transfers?
Bank transfers are time consuming and might take up a lot of your energy. Before you do a bank transfer, you need to have the payee’s credentials. These may include their bank account, address, bank’s address, SWIFT codes, IBAN or the BIC codes. After having this information, you need to order the bank to proceed with the transfer and they will need more time to verify the data provided. After both banks have approved and verified the provided information, money will be transferred. A bank transfer would typically take about 3-5 working days.
The reason many people opt for other payment options like e-wallets and prepaid cards is that these systems are instant and most of them can be used anonymously.
Using Bank transfer in online casinos
When using this payment option in making a deposit in a casino, you need to visit the payment page from your casino and choose bank as your preferred payment method. You will then be redirected to a page where the casino’s bank details are outlined or a page that has links to preferred banks by the casino in your jurisdiction.
If you are redirected to a page with the bank details, you need to use the information to conduct the transfer online or in a brick and mortar bank. When redirected to links of the preferred banks, choose a bank you have an account in, log into your internet bank account and perform the transaction.
When three to five days have lapsed, you will receive a confirmation email that the deposit has been received by the casino and credited into your casino account. To avoid delays in a bank transfer transaction, you need to make sure that all information provided is 100% correct.
Making a payout using Bank Transfer
Almost all online casinos have accepted bank transfer as a withdrawal method. If in the cash out page there isn’t a bank you use, contact the call centre for advise on how to cash-out using your preferred bank.
Check out all other payment options you can use at online casinos here.