Introduction to Bank Transfer Payment Method
We're blessed with countless payment methods we can use to transfer money in and out of our online casino accounts. We have eWallets, vouchers, credit and debit cards, cryptocurrencies, and other payment methods. However, while dated and slower than all the above, bank transfers are a trusted and secure way to fund and cash out from a casino site.
Bank transfers are popular among gamblers because of their reliability, security, and straightforward transactions. Furthermore, most online casinos commonly support this payment solution, making it a great option if you're looking for a widely supported casino payment method. In our guide below, we'll discuss the pros and cons of using bank transfers, how to use them at casinos, and the safety and security of this payment method. We will also share the best bank transfer casino sites in your region.
What is a Bank Transfer Casino?
It is an online casino that supports deposits and withdrawals via bank transfers. Casinos that accept bank transfers allow you to send money from your bank account to theirs when you want to fund your account, while the process is reversed when you want to withdraw.
How Bank Transfers Work in Online Casinos
Bank transfers, sometimes known as wire transfers, are a longstanding casino payment method that allows you to deposit or withdraw money from your casino account. The money moves between two bank accounts: your own and the casino sites.
This payment solution is popular because it is protected by the security offered by banking institutions. Your payment transactions, bank details, and personal information are protected by bank-grade encryption technology.
Simple to use, when sending or receiving a bank payment to/from a casino, you exchange bank details and wait for the banks to process the transaction. You will have to wait longer for the transaction to clear compared to other payment methods, but this solution is one of the safest and most reliable to use.
Types of Bank Transfers
While they all work similarly, you can use a few different types of bank transfers to transfer money between your bank account and the casinos. If supported in your region, you can also consider some banking app options such as Interac, Trustly, instaDebit, and POLi, which allow you to send money from your online banking account to the online casino account.
- Regular Bank Transfer: A standard bank transfer allows you to transfer funds from one bank account to another. It could be the transfer of funds between bank accounts in the same bank, from one bank to another, accounts in the same country, or even those in another country.
- Direct Bank Transfer: This bank transfer is completed via BACS (Bankers Automated Clearing Services) and is one of the more drawn-out options available. Direct online casino bank transfers usually take around three banking days to complete. However, it's still one of the best payment methods if you value security over speed.
- Wire Bank Transfer: A bank wire transfer uses the SWIFT (Society for Worldwide Interbank Financial Telecommunications) network and is mainly used for international transactions.
- Instant Bank Transfer: Not all bank transfer deposits and withdrawals take days to clear. Instant bank transfers are done via OPEN Banking between domestic banks, which is great if the online casino is based in the same country as your bank. This deposit method can take a matter of seconds to complete.
- Bank Transfer Apps: Many online casinos also support bank transfer apps, which facilitate transfers from your online banking accounts directly into the account of online casinos. These apps act as a middleman between your bank account and the casino, meaning you do not have to share your banking details at online gambling sites. Interac and InstaDebit are great examples of banking apps in Canada, while POLi is a popular option in Australia and New Zealand. Trustly is a more globally accepted deposit method, although it is still not supported everywhere.
Benefits of Using Bank Transfer Casino Payments
The main advantage of depositing via bank transfer at casino sites is the security this payment method provides, but this is usually offset by the time it takes for transactions to complete. However, as you're about to find out, wire bank transfers have many other pros and cons.
The Pros and Cons of Casino Bank Transfer Payment Methods
👍 Pros 👎 Cons Higher Deposit Limits: There's usually no cap on how much money you can transfer. Longer Transaction Times: When you account for the time online gambling sites take to process withdrawals, and how long most bank transfers take to process them, you could wait up to a week to receive payouts. Widely Supported: Most online casinos accept bank transfers as a payment method. Transaction Fees: Many bank transfer casinos will charge a flat processing fee to cover the costs required for this type of withdrawal. Transactions are Highly Secure: Casino withdrawals and deposits are protected by banking-grade encryption technology. No Anonymity: Your bank will see you transact with online gambling sites. In some countries, banks may refuse to complete transactions with gambling entities. No Need to Open a Third-Party Account: Unless you're using bank transfer apps, you don't need to create a third-party account like you would using eWallets. Sharing Sensitive Information: You must share your bank details with the bank transfer casinos.
How to Choose the Right Bank Transfer Casino
To the more modern online gambler, bank transfers might not seem the most convenient, especially considering the popularity of eWallets and cryptocurrencies. However, as you can see above, there are many reasons why they've been around since the early days of online gambling.
The question is, how do you know which are the best bank transfer casinos to play at? That's why we've put together this guide to point you toward the best online casinos that support this payment method.
- Read our online casino reviews: The first step is to read the many casino reviews compiled by our experts here at PlayCasino. We rate and review casino platforms based on all aspects and give you our opinion on whether they're a good place to play.
- Check the casino holds valid licensing: Never play at unlicensed gambling sites, as you're not protected. Ensure the casino has a license that covers your jurisdiction, whether that's the UK Gambling Commission, Malta Gaming Authority, Government of Curacao, or any other. For instance, if you're looking for UK online casinos, make sure they are covered by a license from the UK Gambling Commission.
- Consider the security features of the wire transfer casino: Top regulators such as the United Kingdom Gambling Commission require casinos to use high-grade security measures. However, ensuring your connections, transactions, and data are protected by security technologies such as 128-bit SSL encryption never hurts.
- Establish the casino's average withdrawal processing time: Since you're likely to wait a few days for bank transfer withdrawals to complete, the quicker a casino's processing timeframe, the better. Generally, online casinos will process withdrawals anywhere between one and three banking days.
- Check if the casino supports bank transfer deposit and withdrawal transactions: Most online casinos support at least one type of bank transfer as a payment option, but just make sure. If you can find one that allows you to make an instant bank transfer, that would be even better!
- Investigate the currencies supported: While playing in other currencies is not the end of the world as you'll have to pay small conversion fees, it's much better if the casino supports your local currency.
- Check if you'll have to pay fees when using wire transfers at the casino: In some instances, online casinos may state that, in certain circumstances, they may have to charge a flat fee for bank transfer transactions. Check the terms and conditions at the online casino to see whether this is the case.
- Understand the online casino deposit and withdrawal transaction limits: Most online casinos have minimum deposit and withdrawal limits, as well as daily, weekly, or monthly maximum withdrawal limits. Make sure you understand these before signing up for an online casino - especially if you plan to play regularly.
- Check if bank transfer deposits qualify for casino bonuses: You shouldn't run into issues claiming bonuses such as a welcome bonus, deposit bonus, free spins, bonus money, or any other type of casino bonus when depositing via bank transfers. However, it's always best to check just in case. In some cases, certain payment methods (usually Skrill and Neteller) are excluded when claiming casino bonuses.
- Ensure the online casino offers the quantity, quality, and variety of casino games you like to play: If all the above is in check, the next step is to check if the casino offers the casino games you like to play. Whether that's video slots, jackpot games, live dealer games, or anything else, make sure you'll have access to a lobby that has you covered.
Setting Up Your Casino Account with Bank Transfers
Once you've created an account at an online casino, you'll probably want to fund your account so you can perhaps claim a welcome bonus and start playing games. The process of depositing at a casino site via a bank transfer is usually straightforward, although it can differ depending on the casino.
Step-by-Step Guide to Make a Deposit via Bank
These are the standard steps you will have to take when making a deposit:
- Once logged into your casino account, go to the cashier (usually in your account menu).
- Select bank transfer, wire transfer, or instant bank transfer (whichever suits you).
- Enter the amount you want to transfer (make sure it is equal to or greater than the minimum deposit required) and follow the on-screen instructions.
- Consider claiming a welcome bonus, bonus spins, or any other deposit bonus (you may have to use a bonus code).
- Confirm your transaction and wait for your funds to arrive in your casino balance.
Withdrawal Processes and Policies
If you've accrued some winnings from your deposit or bonus spins and cash, you'll probably consider making a withdrawal. If you're planning on using a bank/wire transfer or an instant bank transfer, the steps to do so are below:
- Once logged into your account at the online casino, go to the cashier (usually in your account menu).
- Select bank transfer as the payment method you want to use.
- Follow the on-screen instructions, such as entering your banking details.
- Confirm the transaction via the banking portal or online banking app.
- Wait for the transaction to complete.
Bonuses and Promotions in Bank Transfer Casinos
Claiming deposit bonuses is a great way to enhance your online casino experience, and the majority of online casinos will have some sort of bonus you can receive in return for your deposits. New players usually have the option of claiming a welcome bonus, which is either a match deposit bonus, free spins, or a combination of both. Existing players are usually catered to, too, with reload bonuses, free spins, cashback, bonus spins, and more.
Types of Bonuses Available
Below are some of the casino platform bonuses you can claim when making bank transfer deposits at online casinos:
- Match Deposit Bonus: This type of bonus is a match of your deposit given to you in bonus cash. It is often used in welcome bonuses to help attract new players to the casino. It's also a regular bonus given to existing players. An example would be when a UK casino offers a 100% bonus of up to £200. That would give you your initial deposit plus a 100% match in bonus cash, meaning you'd have £400 to play with.
- Free Spins: Often, as a part of a welcome bonus or regular deposit bonus, you'll also receive free spins. These are a certain number of bonus spins on selected slot games. These can give you casino winnings you can then use on the games of your choosing.
- Cashback Deals: Another bonus often offered to players is cashback. You can receive a portion of the losses accrued from your deposits back as bonus cash. Usually, this is around 10%.
Some platforms even offer bonuses you can claim without making a deposit. Called no deposit bonuses, you'll receive bonus cash or free spins in return for creating an account. Just note that these promotions are for new players only, so creating multiple accounts could lead to the forfeit of the bonus and the closure of all accounts associated with you.
Factors to Consider
When claiming a welcome bonus, free spins, or any other type of bonus, make sure you read the bonus terms and conditions. Usually, there is a minimum deposit required to claim, and any winnings, bonus cash, or cashback you receive is subject to wagering requirements.
These are playthrough requirements you must complete to convert the bonus cash into real money. Wagering contributions vary from casino to casino, so just make sure you understand them before claiming a bonus. There are also other rules to look out for, such as a max bet you're allowed to wager and certain games you're not allowed to play. If you exceed the maximum bet, the casino has the right to forfeit the bonus.
Playing Games at Bank Transfer Casinos
Obviously, the main reason you want to deposit at an online casino is to play casino games, so it is understandable that you'd want to know what's available once your bank transfer deposit is completed. Fortunately, you'll be pleased to know you'll have access to all the same games as anyone depositing using any other payment method.
Variety of Games Available
What's available depends on the casino you choose, but usually, you'll come across thousands of games, including slot games, virtual table games, jackpot slots, live casino games, and more.
- Online Slots: The bread and butter for most casino platforms, online slots are usually in the thousands in casino lobbies. Once your bank transfer is completed and you have funds in your casino balance, you can play popular titles such as Big Bass Splash, Book of Dead, Starburst, Gonzo's Quest, Gates of Olympus, and many, many more.
- Virtual Table Games: Powered by an RNG, most platforms will also provide a good selection of virtual table games covering classics, including roulette, blackjack, baccarat, craps, and various poker games.
- Live Casino Games: We know that many of you enjoy playing table games in a live setting too, and for the most part, you'll find the mobile casinos will have you covered if that's the case. These games feature a live dealer that's streamed live to your device. Another option is live gameshows, which also stream live. These entertainment games offer television gameshow-style action to your computer or mobile screen.
Bank Transfer Casino Recap and Final Thoughts
There are not many other casino payment options that offer the security and reliability of a bank transfer. Sure, we share the frustration of having to wait a few days for transactions to complete, but at least there is the peace of mind that nine times out of ten, they will. They'll never prove as quick and convenient as eWallets, but those who use bank transfers are aware of this and are happy to sacrifice that for the extra security this method provides.
Do bank transfers sound like a payment method that suits what you're looking for? Then, make sure you read through our online casino reviews to establish a leading bank transfer casino to play at. Once you've identified the ideal platform, you can transfer some funds, claim a match deposit or bonus spins, and start playing your favorite games.
