What is bank transfer in online casinos?
You’ll find many different names for wire transfers, including wire transfers, credit transfers, or wire transfers. Many different names for the same thing. It is an electronic transfer of funds from one individual to another, which takes place directly from your bank account to the recipient’s bank account. It is particularly popular in international financial transactions, where it is carried out through the Society for Worldwide Interbank Financial Telecommunications (SWIFT), which is an association of international banks and operates a global network to facilitate the transmission of financial messages.
To make a bank transfer to one of the best online casinos, you need an online banking account and the casino’s bank details, or in other words, the account number to which you are sending money. Opening any kind of account is easily accessible to most people these days, so you shouldn’t have too much trouble either. Once you have all the information about the recipient and are logged into your online banking account, select the “Transfer money” function, enter the account information to which you are sending money, the amount of the transfer and the date you want the transfer to be made, and confirm it. The big advantage of this method is that you can make transactions in the future, well, you can predict that they will happen in the future, which is fantastic for managing your casino budget.
How to make a deposit by bank transfer?
To deposit money in any online casino that uses bank transfers, you must first obtain an online bank account. Before starting, make sure that your account is active and that you have enough funds in it to be able to transfer them to your gaming account in the online casino where you intend to use it.
Then, in your chosen online casino, find the Cashier tab, where all the payment options that your chosen online casino offers are displayed. Among all the options offered, you can choose a bank transfer, which is available in almost all online casinos, as it is considered one of the safest ways to pay online. Nevertheless, caution is never superfluous, especially when it comes to money. Therefore, we strongly recommend that before choosing your online casino and subsequently registering with this particular online provider, you inquire whether they offer payment by bank transfer. This should not be a problem with some online casinos that have been on the market for many years.
The last step before making a deposit is to enter your bank account credentials and deposit the amount you want into your casino account. Almost every casino has certain minimum deposit requirements, so check what this amount is at that casino. At this point, the online casino itself will guide you with additional information that you will need to enter. However, if you need help at any point, you can always contact customer support. She will be happy to help you and guide you through the entire process. You can complete the transaction on the website or online.
How to withdraw money by bank transfer?
This section provides some essential information to help you withdraw funds quickly.
First, log in to the online casino from which you want to withdraw your winnings and find the cashier tab. You probably already know where it is, since you paid the money in the same place. This section under withdrawals lists all the options through which you can withdraw the desired amount of money from your casino account. You choose a bank transfer among them. If for any reason you can’t find any way to pay the amount, it’s best to contact customer service, who will be happy to help you find a solution to your dilemma. You can ask them to add the desired payment option manually.
Once you are at the checkout and have selected bank transfer as your withdrawal method, you must enter the amount you wish to withdraw. Remember that all withdrawal methods have certain minimum and maximum amounts of money you can withdraw, so don’t be surprised. At this point, all you have to do is wait for the selected amount of money to appear in your bank account. We would like to remind you that payouts usually take a long time, and the exact length depends on the selected payment method.
Bank transfer in online casinos pros&cons
Each payment method, just like everything on our planet, has its advantages and disadvantages. There’s no real way to send money to a bank account, but we think bank transfers are a pretty solid option. As they are an extremely safe and proven option and have the support of international banks behind them, they are quite a popular choice. They are also available in the vast majority of online casinos and, most importantly, they are also available almost everywhere for players from Canada. However, there are some pros and cons that we want to bring to your attention, so we have listed our pros and cons below in the article.
But regardless of which payment method you prefer to use, there are always drawbacks that you should be aware of before choosing a particular payment method. Bank transfers also have their drawbacks and it is important to know them so that you can decide to what extent this affects your use of this payment method. Since bank transfers do not fully follow the modern trends of modern online payment, we must point out some weaknesses, which we have summarized for you below.
Advantages
- Extremely safe and reliable. If banks are known for anything, it’s their virtually flawless security. Especially since they have been around longer than all the new online financial institutions and have had more time to perfect their craft when it comes to security. Best of all, they are always up to date with the latest measures to prevent all those risks that seem to multiply daily. This is precisely why they are considered trustworthy providers of financial transactions.
- Available worldwide in almost all casinos. Considering that this is one of the most reliable methods of transferring funds, it is not surprising that most casinos allow bank transfer transactions. This cannot be said for some e-wallets, especially the less well-known ones). Therefore, it is a suitable alternative if the payment method you rely on is not available at the casino of your choice. Using this option means that you will always have a way to withdraw and deposit, regardless of which online casino you play at.
- High deposit and withdrawal limits. Another advantage is the fact that the amounts of deposits and withdrawals are quite large. This advantage is particularly noticeable compared to, say, e-wallets, as it is known that the amounts are usually quite limited. Especially since the amounts you can deposit directly affect your ability to enjoy an immersive experience at your chosen online casino. The possibility of being able to withdraw quite large amounts at any time is definitely a bonus, which will make playing in the selected online casino much more pleasant.
Disadvantages
- Long processing process. The speed of transactions is probably the most important drawback that bank transfer users face. After all, we associate modern technology with speed and we are increasingly used to things happening quickly. This is especially expected when it comes to our money and instant deposits and withdrawals have somehow become the norm.
- Fees vary from bank to bank. A large part of the appeal of most electronic wallets, as well as other payment options, comes from the fact that transactions made with them often do not add additional costs. This cannot be said for bank transfers. In fact, for some transactions, an online casino may charge its users both the fees of the player’s bank and the fees of its own bank.
Restrictions and fees for bank transfer
There are certain restrictions on bank transfers to online casinos. However, it should be noted at this point that there is no payment method in online casinos that do not have one or another limit on the amount of the monetary transaction. Of course, different online casinos and banks may have their own rules and regulations, but there are generally some restrictions and fees that everyone agrees on. We are mainly talking about the upper limit of transactions, which in most cases amounts to 20,000 euros per day. You can negotiate with your bank if you want to change the amount, but we strongly doubt that there is an online casino that would accept more money in one day.
Then there is the lower limit, which usually revolves around 20 euros, although you can also find online casinos with a minimum deposit of C$5 or even C$1. Of course, casinos also have their limits, so you should also pay attention to avoid last-minute surprises.
When it comes to fees, you need to understand that most banks have transaction fees. Usually, the fee is only 1% of the total amount you send, but sometimes it is significantly higher, even up to 5% and more. Of course, it makes sense to find a bank that offers the lowest fees per transaction for you as a user of their services. 5 percent can be known concretely on the final amount and we assume that no one is gambling in order to fill the bank vaults. When withdrawing, the casino may also charge a transaction fee, which varies from casino to casino and is worth checking before registering.
Casino Bonuses With Bank Transfer
Promotions and bonuses are a constant in the world of gambling and a necessity in today’s gambling world, as the number of competing online casino game providers is so vast. Different bonuses are often the reason why players decide to use the services of a certain online casino. Of course, promotions are also important, but they have different goals and are aimed at retaining regular players and not so much at attracting new ones. For new players and existing website users alike, bonuses are a huge plus and the more generous they are, the more they resonate in the gambling world.
- No Deposit Bonus. This bonus is mainly aimed at attracting new players as all you have to do to receive your free money is to register. You don’t even need to pay any money. You can avail of this scheme by registering any of your email addresses on their website where you will receive an activation link of the offer to avail of this bonus.
- Welcome Package. Almost every casino offers its own distinctive welcome packages to players. It’s usually a pretty nice percentage of the deposit amount. To take advantage of any of these welcome bonuses, players must register with the casino and deposit money with a certain minimum amount. The player then receives money or free spins, with which he must fulfill certain betting conditions such that this money does not expire.
- Welcome Bonus. This is one of the most popular promotional schemes in practice today. There is almost no online casino that does not offer a welcome bonus to newly registered users. Welcome bonuses are available in many areas which include the following: free spins bonuses, no deposit offers.
Alternatives to bank transfer in online casinos
In online casinos, you can choose from many payment options, so there is plenty of choices even for players from Canada. If for some reason you cannot use bank transfer as a payment method at your favorite online casino, you can find some pretty good alternatives in the rest of the article.
- Skrill
Skrill is a popular electronic wallet system for transferring money to and from casino accounts among online players, including players from Canada. Electronic wallets like Skrill add an extra layer of security by keeping all your sensitive information in one place. Like Neteller, Skrill is owned by the same organization and has a long history of working with online casinos, so you’ll have to look hard to find an online casino that doesn’t offer a Skrill payment option. In the field of e-wallets, Skrill is undoubtedly the market leader, which is undoubtedly due to its ease of use, low fees and fast transactions.
- PayPal
PayPal is a banking service that allows you to pay online at will. To do business with PayPal, you must have an open PayPal account that is linked to your bank account and consequently to your bank card. You can link multiple cards to your PayPal account and choose one as your default payment method. You can also change this during any transaction, so you are not bound by the decision you make when opening the account. In addition to making payments through PayPal, you can also receive money through PayPal. Fast, secure and easy have been synonymous with PayPal for decades, and its popularity is only growing.
- Visa
Some payment methods are much easier and more intuitive than others, and we recommend them even to beginners due to their simplicity. One such method is Visa card payment, which is one of the most popular payment options in online casinos and is widely accepted in more than 200 countries. Transactions are not only fast and hassle-free but also secure and bring tangible benefits to their users. Even players at online casinos that use a Visa card, players have the opportunity to take advantage of all the promotions and exclusive Visa welcome offers. Most players from Canada will also be familiar with this payment method, as most Canadians already use it.
Final Thoughts on Bank Transfer
Bank transfer of funds to the online casino is the most secure, but we do not recommend using it, as the speed of transfers is very slow compared to other payment methods. In addition, bank transfers are not anonymous. And if necessary, your data can be used by the bank.
