When playing at an online casino, one of the easiest and simplest ways to fund your account is through a bank transfer. Below, you can read more about what exactly this payment option is, what fees are involved and processing times when using this payment method.
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How to use Bank Transfer to fund your online slots account?
The classic way to transfer money into your online casino account is by joining a bank transfer casino. There are so many ways to deposit and withdraw money now online, but the oldest is a bank transfer and for many people this is still the most trusted way to move money.
This is a simple way to move money from your bank account into your online casino account as the only thing that you need is a bank account with cash in it. Log into your online casino account and choose the bank transfer option. Supply the name of your bank, the address and account number and the casino will provide you with their own details. You can make the deposit using their bank details and the reference that they provide you with. How quick this is all depends on whether or not your online casino offers the fast transfer option or not.
Are bank transfers and wire transfers the same thing?
One of the most common assumptions that we see time and time again is people getting confused between bank transfers and wire transfers, thinking that they are the same thing. However, this is actually not the case and they are different. While they are both types of bank transfer, they do have their differences. Bank transfer moves funds between domestic bank and accounts, while wire transfers move funds between international bank accounts. What is great about both methods is that they are both very secure. Players do normally tend to prefer bank transfers.
Pros and cons of Bank Transfer
- Your money is always safe
- There is no third party, like an e-wallet, involved that you have to sign up to
- There are typically no fees associated with this payment method
- You can make both deposits and withdrawals using this payment method
- It is an option at the majority of online casinos
- There are usually higher deposit limits with bank transfers
- Deposits are not always instant and you may have to wait for your bank to approve and release the funds into your casino account
- Withdrawals are not the fastest and may take up to a week to be transferred into your account
How does it measure up?
While many new, technologically advanced, payment methods have popped up online over the past few years, bank transfers are still very popular and appeal to a large audience of online slot players. Many people have never wavered from using this banking method, as it is, in a way, tried and tested so what reason is there to switch?
Although bank transfers has its faults, with the biggest being the processing times for deposits and withdrawals, it is still a great option to choose for those looking to minimise their fees as much as they possibly can and want a simple, safe option without lots of third parties involved that they have to sign up to. There is also the argument that having this wait time to process funds can actually help players to gamble more responsibly than if they were able to deposit their cash instantly. Furthermore, if you are a big gambler and like to deposit large sums of cash into your account, then bank transfers are most likely the best option for you to choose as they usually have higher maximum limits on them for deposits compared to other payment services.
If you do want fast processing times, this won’t be the payment option for you, otherwise, we cannot see bank transfers popularly going down anytime soon.
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Bank Transfer FAQs
Do you still have more questions regarding an online casino bank transfer deposit? We have answered below some of the most common questions that we hear regarding this payment option including what fees are involved, how safe it is and how long withdrawals and deposits take using it.
How safe is this payment method?
Playing at an instant bank transfer casino is very safe and you do not have to worry about the security of your cash. Your money is safe at each stage of the process, from starting off in your bank account to the journey it makes getting to your online casino account and then finally, residing in your online casino account until you are ready to play. There is no middle man involved, keeping the process very simple and straightforward.
Can you make a bank transfer deposit on mobile?
Yes, you can make deposits to the online casino of your choice on mobile through a bank transfer. To do this, we would recommend that you have your mobile banking set up and the bank app on your phone as this will ensure the smooth process of a bank transfer from your mobile device.
Are there any commission fees?
When making a deposit using bank transfer, there should be no fees added on and what your deposit is what you should have in your account. Of course, this can change at different banks and online casinos. Double check before making a deposit that you know exactly how much it is that you are paying.
How long do withdrawals and deposits take?
One of the biggest downsides to using bank transfer as your preferred payment option is that it is not the quickest for deposits and withdrawals. There is a process to wait out with deposits which will require you have a bit of patience and the same goes for withdrawals too. Firstly, the casino that you are playing at has to process the withdrawal and this can take normally up to 24 hours. If it is your first time withdrawing from that online casino, you will also need to validate the requested transaction for security purposes that protects you and your bank account. The casino may also need some personal documentation from you such as a copy of your passport or recent utility bill in order to verify your identification. Although this sounds like quite a complicated process, it is actually quite easy and you should be able to do it online.
After verifying and processing the bank transfer, it normally takes around two to four working days for this money to appear in your account if the casino offers the fast transfer option, if they do not you can expect to wait up to 10 days. How quickly it appears in your account all comes down to the bank you are with and how long they take to process it.
What are the minimum and maximum amounts I can deposit through it?
The minimum and maximum amount that you can deposit is up to the online casino that you are playing at. This usually is quite small and a perfect amount for most players. What players really like about this payment method is that while the minimum is small, the maximum is usually larger than other payment methods available.
If I deposit with this payment method, do I have to use it for withdrawals as well?
If you make a deposit using bank transfer, you can choose to use this for your withdrawals too or you can instead choose another option if you prefer. When you have made a deposit using bank transfer, this normally makes it really easy to carry out withdrawals too as the online casino can simply use the same details to transfer this money back into your account. When you go to make a withdrawal, simply choose bank transfer as your payment process and tell the casino the amount of money that you want to withdraw. Don’t forget that you also must have met the casino wagering requirements!
Most casinos will not charge you extra fees for withdrawing your cash but, again, this is always something that we would recommend checking with the online casino that you want to play at.