Online gambling has become a favorite pastime for players of all types which resulted in an increasing demand for online games and payment methods. Today most casino operators offer a wide range of payment options with which you can deposit and withdraw money in a safe manner. Online banking or otherwise known as e-banking, Internet or web banking, is one of the reliable payment methods which are accepted in a number of casino websites.
What makes online banking suitable for funding a casino account is the fact that it allows players who have a bank account in a particular financial institution to execute transactions over the Internet. This way, they can transfer funds directly from their bank account to their casino account and make deposits hassle-free. This payment method is most renowned for its reliability which is the reason why users from all over the world opt for this service on a regular basis. Furthermore, once you get used to the standard payment procedure, you will be able to fund your casino account in no time.
Advantages & Disadvantages
Online banking certainly offers a lot of advantages for those who wish to transfer funds between accounts with a single click of the mouse. One of the biggest benefits of this payment method is the fact that it is extremely convenient. It is possible to make a deposit to your casino account at the most appropriate moment for you and this way, organize your time better. What is more, you have the freedom to perform transactions 24/7 and depending on your availability, you can choose the best time to transfer funds.
In its essence, using online banking is pretty much the same as using your local land-based financial branch, however, without all of the hassle of traveling to it. Most of the services which are offered in the standard brick and mortar banks are available online as well. This payment method is also extremely time-efficient as funds are transferred from one account to another in short periods of time, providing that an instant banking intermediary is involved in the process. With Instant bank transfer, the transactions are arranged very quickly, especially if you transfer money within the same financial institution.
Another advantage of this payment method is that it is very reliable and secure thanks to its virtual nature. The reason why is that all online bank accounts are protected by cutting-edge security systems which give you the needed peace of mind that your financial data is in good hands. Also, when making a deposit via online banking you don’t have to provide your sensitive information such as bank account number to a third party. All of your details are exchanged only between you and the bank you are using.
More Advantages & DisadvantagesFurthermore, the fact that you have access to your bank account all the time gives you the chance to monitor your balance. This way, in case of any suspicious activity, you will be able to contact the respective financial institution in time and prevent yourself from any potential monetary losses. In addition, online banking is a fairly affordable payment service in comparison to some other payment methods, accepted at most online casinos.
Online banking is perfectly suitable for avid players who are reluctant to use or simply don’t have a credit or a debit card. This payment method is extremely convenient as it won’t consume your time. Also, most people are familiar with the procedure for paying online as this method is widely used by various web-based stored.
Now, let’s look from a different point of view and consider some of the things which are often seen as drawbacks. For instance, since online banking is strictly dependent on the Internet connection, technical issues are not excluded. In such cases, your transaction might be rejected and the funds you have intended to transfer won’t reach your casino account.
This can be very inconvenient and disappointing, especially if you have planned your schedule around this transaction. It is also possible to not be able to figure out whether or not the funds have been transferred successfully. Although the security systems the banks use are highly reliable and advanced, there is always a risk of unauthorized access. If you are new to online banking, it is best to be extra careful and take some measures in order to prevent your account from hacking.
The banking institutions have imposed several countermeasures in order to prevent such issues from happening. However, it is also your responsibility to get familiar with the things you can do in order to increase your protection online. For this purpose, it is recommended to use the Internet from your data plan and avoid connecting to public Wi-Fi when paying online.
Using Online Banking for Gambling Transactions
In order to fund your casino account via online banking, you have to complete several steps which are very easy to perform. First of all, you need to open a bank account if you don’t have one. It should be noted that there are some banks which don’t have land-based branches and they operate entirely online instead. Although these web-based banks usually offer lower fees and better conditions as they don’t the same expenses as their brick and mortar counterparts, they can be sometimes less reliable and cooperative.
After that, you need to set up an online account which you will use for making deposits and withdrawing money at online casinos. For this purpose, you need to visit the website of the respective bank and simply fill out correctly the form with the needed information. It is recommended to choose a unique username and secure password which are different than your other accounts as this will add an extra layer of protection to your account.
Now, you are ready to visit the casino website of your choice and fund your account via online banking. Of course, in order to do so, the respective online casino has to offer this payment method as an available option so make sure this is the case in advance. Making a deposit via online banking is fairly easy and this is the reason why this payment solution is preferred by a number of players.
Online Banking for Gambling Transactions TipsThe first thing you need to do is to go to the cashier section and select online banking as your main payment method. Once you complete this step, you will be redirected to the website of your bank if you use standard online banking or to the website of an alternative banking solution if you use instant bank transfers. Some of the widespread payment options, which belong to the second type of online banking and are accepted at a wide range of online casinos, are Citadel, Nordea, Trustly, iDebit, Giropay, iDEAL, POLi and others.
Depending on your choice, you will be required to proceed differently. If you opt for standard online banking, you will have to log into your bank account and fill out a payment form. One of the requirements in order to make a deposit via standard online banking is to know the casino’s banking information such as IBAN. Before you submit the payment, make sure to double check whether you have input all of the details correctly. In most cases, you will receive an email, stating that your transaction has been successfully completed.
It should be noted that when it comes to online banking, the regulations regarding this payment method are not always the same. In other words, every banking institution has its own policy towards online banking and it is possible that some restrictions may apply in specific cases. For this purpose, it is best to get familiar with this matter in advance in order to make sure you will be able to fund your account trouble-free.
Fees for Gambling Transactions
The fees that apply in regards to online banking vary, depending on the type of online banking you are using as well as on the respective bank. In order to get the most accurate information, it is best to contact a customer support agent from your bank and talk this matter through. If possible, you can request an email to be sent to you with all of the fees that apply, in case that there is no such information provided on the website of the respective bank. In general, the amount of the fee that you will have to cover is unlikely to be large.
For instance, if you choose to use Giropay as a way to fund your casino account, you will have to pay a commission fee every time you transfer money which ranges between 0.60 – 1.20%. Some other fees that you will be required to cover if you opt for this payment method, are a start-up and a monthly fee of respectively €100 and €10. It should be noted that with Giropay, it is possible to only make deposits but not to withdraw money. In order to cash out your winnings, you should look for an alternative payment method.
Another type of online banking which you can also try is Nordea. This payment method has proven to be very convenient and cost-efficient since if you opt for it, you won’t be charged any fees for using its online banking service. However, bear in mind that some fees may apply for some of the other services which this company provides. For instance, there is a fee of 2% associated with currency conversion, providing that you use a Nordea card. You will be also required to pay a maintenance fee which will be deducted from your account on a monthly basis.
Online banking is considered to be a fairly fast payment method which you can use to fund your casino account at a number of gambling websites. As it became clear, the fees associated with Internet banking strictly depend on two things – on the particular financial institution and the type of web banking. The same applies to the processing time that this payment method has.
In general, if you use standard online banking, the transferring of funds is more likely to take longer than if you opt for bank transfers, provided by intermediary payment companies. With standard online banking, it can take several days for your money to be transferred, however, this operation will be done in a secure manner. The processing time also depends on when you submit your request. Some banks process funds on the same day only if you have initiated a transfer till a certain hour, whereas, others don’t have any specific requirements in regards to this matter.
If you are reluctant to wait a couple of days before you see your casino account funded, you can opt for one of the instant banking options such as InstaDebit /iDebit/. This type of online banking allows you to make deposits instantly which is the reason why it is accepted by a number of web-based casino websites. The same goes for Nordea, Citadel, Trustly and iDeal as these are some other very convenient options for making a deposit since they offer instant transfer services.
Withdrawal requests typically take longer to be processed than deposits. The processing time is again strictly individual and it ranges between one to ten banking days. For instance, if you opt for iDebit, your money will be transferred within a period of 24 hours. This means that even if you choose an instant banking service, you won’t be able to withdraw your winnings as quick as you will be able to make deposits. The reason why is that, the procedure concerning withdrawals is more complicated and thus, more time is required.
More and more players are using their mobile devices for gambling as a number of reputable casinos offer user-friendly mobile websites. As a result, the demand for payment methods which are available on mobile is gradually increasing which urged many payment providers to optimize their platforms for smartphones and tablets. Today, it is possible to make deposits via your phone by using a number of online banking solutions. Some of them offer dedicated apps which you can download from Google Play Store or Apple App Store and this way, access your funds directly.
When it comes to mobile payments, Trustly is one of the online banking solutions which deserve mentioning. The reason why is that, it specializes in mobile online banking which makes it the perfect option for avid players who wish to make deposits safely on the go. Regardless of what type of mobile device you possess, you will be able to fund your casino account in no time. Many online casinos offer Trustly as an available payment method as it has everything players need in order to pay in a secure manner.
It is also possible to use other instant banking options such as POLi and Giropay and make deposits via your smartphone or tablet at any time and place you wish. Citadel Instant Banking also has a dedicated mobile version thanks to which you can arrange transactions with ease. All you need to do in order to take advantage of such a reliable payment method is to simply make sure the online casino of your choice accepts it. Bear in mind that the availability of the payment solutions the respective online casino offers also depends on the country you reside in.
Security at Online Casinos
Online banking is a highly reliable payment method which makes it suitable for gambling transactions. The reason why it is considered by many players as one of the safest options when it comes to funding a casino account is that every time you make a deposit, your money is fully protected by a number of sophisticated technologies. Of course, the security measures differ greatly from one financial institution to another as each bank has its own policy and procedures for protecting its customers’ data.
In most cases, an advanced 128-bit or 256-bit SSL encryption is involved in the transaction process as this technology has proven to be the best in terms of security and reliability. It is considered practically unbreakable as it has a 128-bit or 256-bit key which makes it impossible for even the most powerful computers to figure it out. This complicated technology is used to encrypt and decrypt all files and data you send to your bank and this way prevent them from getting stolen or used without your permission.
All of the personal information you submit over the Internet via online banking is kept private and it is protected by various security systems and firewalls. If you opt for this payment method, you can rest assured that your financial details and funds are processed according to the highest protection standards. Many players choose to make a deposit via online banking as it gives them the chance to transfer money from their bank account to their casino account in a secure manner. Furthermore, bear in mind that most websites that offer instant bank transfers are supervised by financial authorities which monitor their activity on a regular basis in order to make sure they comply with all of the established rules.
Security Additional TipsWhile it is true that most banks have embraced the use of various advanced security systems, you also have to take responsibility for your personal and financial information and get familiar with the ways you can protect yourself. For instance, in order to make sure your financial data will be protected accordingly, you can check the bar containing the browser address. Before or after the link of the respective bank, there should be a small symbol, representing a padlock. The absence of this element is indicative that this website is not secure enough for you to input your sensitive information.
Another useful tip concerns your password, in particular, the symbols it contains. In general, it is recommended to choose a password for your online banking account which is unique and most importantly, different than your other online accounts. It is also recommended to change your password from time to time as this simple action has proven to be especially effective as it adds an extra layer of protection to your financial information. Last but not least, always use a device which you can trust and always make sure that you have logged out of your profile once you are done transferring money.
Online Banking Casino FAQ
What is online banking?
Online banking is an electronic payment method which allows players who possess a bank account in a particular financial institution to perform a wide range of actions, including depositing and withdrawing money. It enables them to pay over the Internet easily and securely by using the website of the respective bank or payment provider.
How reliable is online banking?
Online banking is considered as one of the most reliable payment solutions which is the reason why it is accepted at a staggering number of web-based casinos. Most websites for online banking use cutting-edge security systems, firewalls and encryption technologies which assure a high level of protection to your data all the time. They will not only prevent your sensitive information from unauthorized access but will also successfully detect any suspicious activities.
Which are the most popular payment operators that offer instant bank transfers?
Some of the most popular third-party intermediaries which offer instant banking are Citadel, iDebit, Trustly, Nordea, POLi, GiroPay, iDeal and others.
Is it possible to use online banking on mobile?
Yes, it is. Most of the payment companies which offer instant bank transfers have dedicated mobile platforms. This means that you can make a deposit or withdraw money via them either on a computer or on a smartphone or a tablet. One such a payment solution which supports a number of devices is Citadel Instant Banking.
Is it possible to monitor the transactions in progress?
In most cases, yes, it is. Most websites enable you to keep track of any ongoing as well as finished transactions which help you manage your funds with ease. For instance, if you use Trustly and you want to review your previous deposits, you need to log into your profile and go to the section labeled as “Orders”. It is located below the transaction menu and from there you can search for the payments you wish to check once more.