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Bank Transfer Online Casino Sites
Bank transfers can be used as a payment method at online casino sites. Sometimes referred to as a wire transfer a bank transfer is one of the longest-established, most trusted and widely used methods of payments. With a bank transfer you can send funds from one bank to another with ease.
What is involved with a bank transfer?
This payment method involves the payee filling out the details of their bank account and how much they would like to transfer into a payee’s (the person receiving the funds) bank account, of which they will need the relevant data in order to complete the transfer.
The information required to make a bank transfer typically comprises of the name of both the payer and the payee, the sort code of the banks of both the payer and the payee, the numbers of the bank accounts, and, in some cases, other codes related to the banking data, including the BIC, IBAN and Swift.
Once this data has been entered into the system, the payer’s bank will require a short period of time in order to verify the data given. Once the details have been verified by the bank as being correct, the bank will contact the payee’s bank, which will then also be required to verify the information given in order for the transaction to be confirmed. Once the payee’s bank has confirmed the details, the transaction can be processed.
The typical processing time of a bank transfer is between three and five working days. Though it should be noted that bank transfers involving some banks can take as long as eight working days for a bank transfer to be completed.
If an error has been made when putting in the details for the wire transfer, the transaction can be delayed and take as long as 20 to 30 working days to complete.
For some who make a bank transfer online they go through a third party payment provider, such as Trustly or Giropay, in order to ensure their personal banking details are kept safe from others. As well as helping prevent potential fraud from occurring by shielding important banking details, using third party payment providers means that the payments are usually carried out instantly.
How do you use a bank transfer on a casino site?
Using this method of payment to make transactions on casino sites is relatively straightforward and easy. Players simply need to go to the page dedicated to making payments on the website and select the ‘bank transfer’ option on the list of payment options. They will then be directed to a page that either has details of the casino’s bank account or a page that has links to numerous banks operating in the country the player is in.
The player will then have to log on to their own internet banking page, put in the amount they wish to transfer and then confirm the transaction. After approximately 3 to 5 working days the player should receive an email confirming that the transaction has gone through and the funds are ready in their account to be used.
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