Bank wire transfer allows players to make online casino deposits directly from their bank accounts. This payment option has been widely accepted in over 1000 casino platforms across the iGaming market. Unlike other payment methods, bank wire transfer is available for both deposits and withdrawals. Most online bank operators are governed by specific rules and regulations. This way, your money is secured with the latest security software. To ensure responsible gambling, all online casinos allow you to set your deposit limits when funding your player account.
So, on this page, we are going to look at the top online casinos that offer bank wire transfer and how this payment option operates.
Who can use Bank Wire Transfer?
Anyone can use bank wire transfer to make online casino payments. However, you must have a bank account and link it to your online casino account. But, make sure that your banking institution does not limit online gambling before choosing to use this method.
Making a Deposit to your casino account using Bank Wire Transfer
The process of making casino deposits using bank wire transfer requires minimal effort. However, since its bank to bank transfer, you must get your online casino’s account number. This will be provided on the website, or you will have to get it from the casino support team.
After getting the account number, you will be required to provide it to your local bank, and your bank’s customer support team will conduct the transaction. However, it’s important to note that you will be required to provide the casino’s SWIFT (the Society for Worldwide Interbank Financial Telecommunication) key number. Depositing via bank wire transfer is instant, depending on the online casino. However, there is a standard processing period of between 1 and 2 days.
With bank wire transfer, you can make large deposits/withdrawals. However, the minimum amount of deposits or payments usually depends on individual casinos. Another advantage of using bank wire transfer is that you don’t have to deal with a third-party merchant. Once you want to make your withdrawals, your funds will be directly credited to your bank account. Also, since you will not be dealing with a third party merchant, it makes bank wire transfer one of the safest payment options for online casinos.
Although wire transfer is convenient for most online gamblers, it has its drawbacks. Some banking institutions limit online gambling. So, if your bank limits casino transactions, you will be required to go through a long process to make your payments. Another drawback of using bank wire transfer is that you may incur some transaction cost when making your withdrawals. Also, since you have to link your bank account to the casino account, the transactions will always reflect on your bank statements.
Bank wire transfer offers you an easy way of making both deposits and withdrawals. However, due to banking restrictions on online gambling, most players opt for cryptocurrencies. So, bank transfer is mostly convenient for players who have accounts with institutions that allow online casino payments.