Bank transfer is a money transfer method that is used by millions of people worldwide to send or receive money. So many online casino players find it as safe as to fund their casino account. Using it only balances the accounts of the sender and the recipient.
Western Union was the first to become the largest wire transfer service in the world, currently supported by online casino games. This ancient method is commonly adopted on online casino sites for both deposit and withdrawal. Read the article to know more about bank transfers.
What is Bank Transfer?
Bank transfer is the oldest way to transfer money to a bank account. Many bank users know this method as credit transfer, wire transfer, or electronic fund transfer. It is most commonly using for paying and transferring money.
This method is losing some of its popularity due to the modernization of banks. It is available in almost all countries and casinos. Most web-based gambling operators accept bank transfers as a deposit method. In some casinos, it is not offered as a deposit method but as a withdrawal option.
How does Bank Transfer work?
A bank transfer represents an electronic transfer to a user’s bank account. This can be done through various means like mobile banking, internet, online banking, or cash deposit. This medium can take a few days to transfer money, even after an order and payment have been made.
It takes about 5 business days or more to transfer funds internationally. However, certain countries have instant bank transfer arrangements that are completed within minutes. So before choosing any online casino and bank, know about it well.
Processing Times
Bank transfer is a known means of transferring funds from online casinos to bank accounts. To use this medium, players have to go to the banking institution to fill up the money transfer forms. Not all of the banks give these forms online. The bank will have to provide a visit after obtaining the banking details for the bank transfer.
Bank transfers involving SWIFT code take 3 to 5 business days to complete. Sometimes this time can be even longer. There are many reasons behind the change in transfer time. The reasons may be time zone differences, currency conversion, or identity confirmation. Also, the completion of transactions on public holidays and weekly holidays of the banks may be further delayed.
Security
Using bank transfers as a method of payment at online casinos is one of the safest ways for you to get online. There is no risk of fraud or theft during bank transfer. But for this, you need to make sure that you have the correct IBN and BIC / Swift code.
Online banking and reputed online casinos are protected by SSL encryption, which keeps players’ personal and financial information confidential. There is nothing to worry about when using a bank transfer. But you have to make sure that the bang you are using is good.
The Final Verdict
To use bank transfer, players should simply keep an account with a given banking institution. There are two ways of every bank transfer. One is going to the bank in person; the other is using online banking services. The second of the two methods is currently the most used. Visit our site to learn about other casino payment methods besides bank transfer. Here you will find all the information you need about casinos.
