Bank Transfer Casino Bonuses

The advantages of using Bank Transfer

One upside to using Bank Transfer which has helped it become very popular amongst high-stake betting sites is that players can make large deposits in single transactions. This is possible thanks to a high cap on transactions when using Bank transfers. Usually, banks charge customers a flat rate for every transaction they make, so making large deposits will not lead to greater charges.

Bank or Wire Transfer is a widely accepted payment method across most online gaming sites, including both casino and bingo platforms. This is because Wire Transfer is an incredibly secure and safe way for gaming sites to receive money, as it leaves a solid trail that can be traced if anything goes wrong.

Bank Transfer has many years of experience, making it a trusted casino payment method, with it being around longer than all e-wallets, debit/credit cards and bitcoin. This proven track record should fill you with confidence that Wire Transfer is a payment method you can trust.

The disadvantages of using Wire Transfer

As you can expect, there are a couple of drawbacks to using Wire or Bank Transfer as a payment method across online casinos and bingo sites, and one of those is down to the time it takes transactions to process. Customers using Wire Transfers will need to be prepared to wait between a few hours to a few days for their transactions to be fully complete. This extended process time is due to the bank’s having to process customer requests.

Despite this, a Bank Transfer is a very safe way to make transactions, on rare occasions when something goes wrong, it is very hard for customers to find a solution to their problem. For example, any funds lost when using a Wire Transfer will be very difficult to recover, which is not a problem customers will encounter when using e-wallets etc.

Although a Bank Transfer does not charge its customers to use its services, it is highly likely that customers will encounter a processing fee added by the selected casino.

Wire Transfer deposits and withdrawal times

As stated above, one of Wire Transfer’s drawbacks is the time it takes customers to make deposits and withdrawals. Most other methods of payment allow customers to make deposits instantly, but this is not the case with Wire Transfers, with them needing to be prepared to wait up to a few days. Withdrawals can take a similar time unless made over weekends, as some banks will not deal with Wire Transfers over the weekend.

Opening a Bank Transfer account

A downside to using Wire Transfer is having to open a bank account which can be a long and tedious process, which is different for all banks. However, if you have reached the legal age where you can use online gaming sites then chances are you already have a bank account set up.

Extra fees

Depending on what bank customers are dealing with, there may be charges when using Wire Transfer. However, almost all UK banks do not charge their customers for Wire transfers, and the only fees they should encounter come from the casino sites themselves.

Our conclusion on Bank Transfer

After taking a closer look at the ins and outs of Wire Transfer, we have found a selection of pros and cons. Thanks to their long history of being a valid payment method, Wire Transfer is a platform everyone can trust. Due to this, it is widely accepted amongst a huge selection of online casinos and bingo sites.

On the other hand, players looking to make frequent deposits and withdrawals could be sat around waiting a long time due to their lengthy processing times. To summarise, we advise using a Wire Transfer if you want to make large, one-off deposits and withdrawals.