Bank transfer: Simplicity and security

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Bank transfers are the most common deposit method for online casinos. For safe, fast and in some cases instantaneous transactions, they are suitable for both the casino and the player. This article explains the advantages and disadvantages of bank transfers and, most importantly, lists the best casinos offering direct bank transfer deposits and withdrawals.

Overview of Bank Transfers

A bank transfer or funds transfer is a means of transferring funds from one person or institution to another. Unlike other e-purse payment methods, bank transfers are made by banks, institutions that are renowned for their experience and the security of their safes. This article will give you all the necessary information on the use of bank transfers in online casinos.

Bonus

There are generally no specific casino bonuses given to players depositing and withdrawing money in online casinos by bank transfer. However, as this is a very popular and widely used method, deposits are of course eligible for the generous casino welcome bonuses. For more information, please feel free to check the list of casinos with bank transfer, compare their bonus conditions and get ready to play.

SEPA Bank Transfer

SEPA is the abbreviation for « Single Euro Payments Area » and is the name for cross-border bank transfers in euro as regulated by the EU. The objective of SEPA is to ensure that cross-border credit transfers in euro within the EU are equivalent to national transfers within a single country.

The countries using SEPA are the euro area (the EU countries that have the euro as their currency) and a few other countries that also accept bank transfers in euro.

Cross-border SEPA transfers are supposed to be charged in the same way as national transactions, and there should be no charges for accepting the money. In general, a SEPA credit transfer should not take more than one or two working days.

Benefits

By looking at the list of its advantages, it becomes easier to understand why bank transfers are certainly one of the most popular payment methods for deposits and withdrawals at online casinos:

  • Simplicity
  • Security
  • Privacy
  • Availability: One of the most important advantages of bank transfers is certainly that they are available as a deposit and withdrawal method in most online casinos. 

Disadvantages

However, although transfers have many advantages, they also have drawbacks that are important to take into account:

  • Waiting times: Electronic transfers are one of the payment methods with the longest waiting times (along with credit card transactions).
  • Withdrawing your winnings by bank transfer can take between three and seven working days, whereas withdrawals made with an e-wallet are almost instantaneous.
  • Bank charges: As transfers are supervised by banks, they usually involve significant processing fees. Do not hesitate to contact your bank to find out more about this process.
  • Bank details: Yes, transfers are more anonymous than e-wallets because they do not require a name or email address. However, sharing your banking information can also carry certain risks, such as online fraud.
    To avoid scams, be sure to check our casino notices.

Fees

Online casinos generally do not charge fees for deposits and withdrawals by bank transfer. To be sure of this, it is strongly recommended that you read the terms and conditions of a particular online casino.

However, many banks charge a fee for sending and receiving funds by bank transfer. As the amount and structure of the fee depends largely on the location of your bank and the casino, it is impossible to give a definitive answer in a single article. Contacting your bank’s customer service department is the best way to clear up any doubts you may still have.

Currency and availability

Unlike electronic wallets, bank transfers are not limited by a given set of currencies or countries. Because banks work closely together, they can easily convert any currency into any other. However, this process sometimes involves marginal conversion fees. The only limits to the availability of bank transfers depend on the casinos themselves, which may have certain country limits.

Creating a bank account

Bank transfers only require a functional bank account at an active bank. Bank accounts can be created within a few days (depending on the bank and country) by contacting a financial institution. Each bank has its own way of proceeding, but generally you will have an appointment with an advisor to find the banking solution best suited to your situation. You can also apply online. However, opening a bank account is generally not a quick process.

Financing account

To make a bank transfer, you must have a funded bank account. Money can be deposited in a bank account in the form of cash, or by a bank transfer from another account.

Deposit

  • Depositing funds by bank transfer is a very simple process.
  • Login to your account at your favourite online casino.
  • Go to the « Deposit » tab
  • Choose bank transfer or funds transfer as payment method
  • Determine the amount you wish to deposit
  • Follow the instructions given by the payment terminal (which will ask for your bank details).
  • After a certain waiting time, you can start playing! 

Withdrawal

As with the deposit, you will be able to withdraw your winnings by bank transfer in just a few steps:

  • Login to your account at your favourite online casino.
  • Go to the withdrawal section
  • Choose bank transfer or funds transfer as payment method
  • Determine the amount you wish to deposit
  • Follow the instructions given by the payment terminal (which will ask for your bank details).
  • After a certain waiting time, your income will be visible on your account balance. 

Security

What is important to bear in mind with wire transfers is that they are controlled by banks, institutions that have been taking care of people’s money for hundreds of years. Electronic transfers are therefore one of the safest means of payment available. However, there are a few important details to keep in mind.

When making a deposit by wire transfer, your transaction will be anonymous, but you will need to provide your banking details to an online casino. This type of personal data could be quite sensitive. Therefore, before making a transfer, it is strongly recommended that you make sure that the casino you are depositing money to is trustworthy.

Support

If you need help depositing, withdrawing or searching for additional information, please do not hesitate to contact your bank through your preferred means of communication, whether by phone, e-mail or chat. The quality of the help you receive will ultimately depend on the bank you choose.