Bank transfer is a safe electronic payment system that is excellent for moving large funds – but are they a good option at online casinos?
On this page, we’ll tell you everything you need about this payment method, along with its pros and cons.
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Many people are confused about these two options. The two methods are similar in the way that they both move funds through financial institutions but there are some differences.
Can take longer to complete and can take 4 to 5 days
Usually quicker – often in 24 hours.
Cheaper than wire: usually only the sender will be charged a fee
More expensive and often the sender and receiver will be charged fees
Can only be sent nationally
Can be sent internationally
Can be recalled if a payment is made incorrectly
Wire transfers cannot be recalled if an error is made which makes them riskier.
Can only be completed via a bank
Can be completed via banks, credit unions and service providers.
However, both are very safe and secure methods of payment.
This is usually the payment method with the longest withdrawal times so you need to consider this when choosing this as a payment option.
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Most good online casinos accept transfers, so read our reviews to make sure it fulfills all the other requirements you have.
These can take between 1 to 5 days to complete, while instant ones take just moments. They often come with minimal fees and high minimum and maximum deposits, so check your casino’s banking terms first.
There may be fees attached depending on how much you wish to deposit and the money can take up to 5 days to appear in your account. Minimum and maximum deposits can range between $50 and $10,000 per day.
Not all banks allow gambling transactions - so make sure that yours allows you to deposit to an online casino.
To receive your withdrawals, you will need to follow these steps:
After the withdrawal has been approved, they’ll process the transaction, and you should see the money in your account in 3-5 business days.
Casinos generally don’t charge for wire transfer withdrawals, but your bank may charge you a fee for receiving the payment.
The minimum withdrawal can be as much as 1,000 USD, but the maximum withdrawal amount is also very high, sometimes over a million dollars.
If you want your withdrawal processed this way, you’ll first have to use this method at least once for depositing. If so, then simply follow these steps:
After the operator has approved the transaction, the money should appear in your account within 2 business days.
There are no fees for this service and the minimum withdrawal amount is low – e.g., $10. The maximum withdrawal limit is normally around $50,000.
If you are a high roller, wire transfer is the best choice for you as it offers very high withdrawal limits.
Just like any other payment method, both have their pros and cons.
❌Somewhat slow withdrawals
❌You must have a bank account
❌Some banks don’t process payments to online casinos
✅Low minimum withdrawal limits
❌May charge a fee for transactions
✅Large maximum deposits
❌High minimum withdrawal limits
✅Most casinos accept it
❌Slow deposits and very slow withdrawals
✅Very high maximum withdrawals
While it is rare to see operators offering specific bonuses for those who deposit with these options, they are always accepted when claiming large bonuses.
You will be able to claim welcome bonuses including match deposit bonuses, free spins and more. You may even set up a repetitive wire transfer service to your casino and claim regular reload bonuses or loyalty points.
Some of the most popular alternative methods include:
Other excellent options include:
You will need to check whether you can claim the welcome bonus if you opt to choose an eWallet alternative such as PayPal, Skrill or Neteller.
The main advantages of these payment options are their unparalleled security and that they can handle large transactions without any issues. While wire transfer deposits are slow, instant bank transfer deposits can reach your casino account in a couple of minutes. You won’t need to set up a separate account or go through a third-party website with either method since all you need is a bank account. Casinos won’t charge you a fee for deposits or withdrawals, but your financial institution may have fees for these transactions.
Yes, most US online casinos accept this as a payment option.
They are. These offer some of the highest levels of security as they are processed by financial institutions. As such they hold the same high levels of security and encryption.
Casinos won’t charge you fees for deposits but there may be fees levied by your bank.
You can make a transfer to operators that are licensed in states that regulate online gambling. At the moment these states are:
If you have already used this method to deposit, you can request a withdrawal through the same method.
The timeframe for receiving credit to your account depends on your bank. International transfers can take up to 5 business days, but even local transfers may take around 2 days before they reach your account.