Bank Transfer Casinos

Bank transfers will never go out of fashion since they pose as a familiar and above all, extremely secure method of payment. In order to use it to boost their casino accounts’ balance, players simply need to hold an account with any given banking institution. There are two ways to go about processing a bank transfer – going to the bank personally or using its online banking services from home.

The first method is less convenient as it requires bank account holders to visit their banking institution or one of its cash offices in person. In order to execute the transaction, players will need the banking details of their preferred online casino. Make sure you collect all the necessary information in advance.

For the purpose, you have to get in touch with the members of the casino’s support staff and obtain the gambling operator’s IBAN (International Bank Account Number) and SWIFT codes. The majority of financial organizations are issued one such code which can contain either eleven or eight characters. Some banking institutions may use BIC (Bank Identifier Code) instead of SWIFT. Either way, one such code is needed to establish the identity of the receiver.

Once you have collected the banking information you need, you are required to instruct your bank to transfer the funds from your personal banking account to that of the casino by filling in a transfer form. Some banks which support online banking have such forms available at their websites, allowing casino players to initiate the transaction from the comfort of their homes. Be very careful when filling in the form – any mistakes in the information you provide will lead to undesirable delays.

Similarly to the majority of online casino payment methods, bank transfers, too, have both their strong points and downsides. Some players view bank transfers with a certain degree of derision and consider them a remnant of the past. However, the fact of the matter is bank transfers remain one of the safest methods to deposit funds at online casinos or transfer money between bank accounts. One of the reasons for this is the player is not required to share any of his banking information with any third parties. Only the two banks involved in the transfer (that of the player and that of the casino) have access to the data you input when initiating the deposit.

Furthermore, banking institutions use state-of-the-art encryptions to protect all transactions they process between bank accounts of customers. The same applies to trusted online casinos which normally would encode the information players share with the latest encryptions to protect it from fraudsters. More importantly, most people are already accustomed to using this method. This familiarity is precisely what gives them confidence their money is well protected since one would typically trust the banking institution they hold an account with.

Another positive of using this method is that it is supported as a payment option by the vast majority of online gambling operators. Unlike some other payment solutions available at online casinos, bank transfers can also be used to receive funds to your bank account which renders them a viable alternative for cashing out your casino profits.

As was already hinted, bank transfers are generally a costly method to load money into your casino account. There are fees involved but the worse part is these differ from one bank to another. Fees may also be associated with withdrawals, with the sum being deducted from the amount you cash out.

How the charges are calculated also depends on the policies of your bank. Many financial institutions have flat fees but others deduct a percentage from the transferred sum – the larger the amount, the higher the fee would be on such occasions. To prevent mishaps and unpleasant surprises, players should get in touch with representatives of their bank and request information on its policies regarding transfer fees.

Another thing players should take into account is whether they are carrying out a domestic or international bank transfer. Since most people normally register at online casinos based outside their country of residence, there is a good chance they will have to make an international bank transfer to deposit. Unfortunately, these are associated with even heftier fees because the transfer would involve banks located in different countries. Add conversion of currency to the mix, and you may end up with paying even higher amounts in fees.

Bank transfers may be a familiar and rather secure method to move funds between bank accounts but they certainly lack in the time-efficiency department. Even more so, if we compare them to commonly used modern payment methods like e-wallets, third-party online banking processors, and debit/credit cards.

Using this casino deposit method may sometimes be a logistical nightmare. Some players need to go to their banking institution in person to fill in their money transfer forms, especially if their bank of choice does not offer such forms on its website. This visit should be paid to the bank after one has already spoken to the casino’s customer support and have obtained the necessary banking details to make the transfer possible. Enter a single digit incorrectly in the form and your deposit will not go through.

Bank transfers that involve SWIFT codes can require between 3 to 5 business days to complete, but sometimes it is possible to have to wait a little longer than that. The reasons for this vary but normally these delays can be attributed to several circumstances, such as time zone differences, currency conversion, or identity confirmation. The processing time may further be extended depending on what day of the week it is in the country the casino’s bank is based in – public holidays and weekends may further delay the transaction’s completion.

Since this payment method is somewhat old-fashioned, it is not always possible to use it when you wish to make a deposit to your favorite online casino on the go. However, if the bank you hold an account with supports the service online banking, you still will be able to transfer money from your personal account to the bank account of the casino. Many financial institutions have developed their own mobile applications to grant their customers’ quick and convenient access to their online banking services.

The procedure is fairly simple – after you log into your casino account on the go and select bank transfers as your preferred payment option, you will be automatically redirected to a page which contains links to all large banking institutions in your country of residence. You tap on the bank you have an account with and are sent to its online banking page where you need to log into your online banking account to initiate the deposit.

It is also possible to make an instruction for the payment by using the telephone banking service of your bank, if available. To make the money transfer, you need to dial a special number that is set up by the banking institution itself and authenticate the transaction. Such services are sometimes carried out via automated systems with voice recognition but many banks supporting this option would normally have a team of live support representatives for the purpose. The support agents will talk you through the process and ask you various security questions to confirm your identity.

Please note that if you wish to make such telephone transfers, you will need to apply for the service and receive your customer number and password. However, we believe using your bank’s online banking service to conduct the transfer would cost you fewer hassles and would be more time-efficient.

There may be quicker and more advanced methods of payment to use at online casinos but the fact remains bank transfers are still one of the safest ways to carry out gambling-related transactions on the Internet. A good number of players prefer it over other payment solutions simply because they do not trust third-party payment processors. If you use bank transfers, there will be no need to share private and financial information with anyone other than the banks responsible for the transactions. No third parties are involved in the process which also enables casino fans to retain their anonymity when placing bets on the web.

Banking institutions themselves have adopted the strictest security policies to protect customers, their money and financial transfers. The bank initiating the money transfer would send the receiving bank a message using a security system to encode the transaction. This encrypted message contains all the instructions concerning the payment.

What further boosts the protection against cyber-based crimes is the fact the transactions can be tracked because they are conducted by your banking institution itself. If a given player’s deposit fails to go through and the funds are not added to their casino balance, they can pinpoint the reason for the issue by contacting their bank and making an inquiry.

While it is impossible to reverse a transaction carried out in this manner, your banking institution may choose to issue a refund of the deposited amount. However, the easiest way to avoid such issues would be to pick carefully the online casinos you are playing at – if you sign up with a gambling operator of good repute, you can rest assured you will not have to deal with delayed or failed deposits.