Bank transfer is among the payment methods accepted by the best betting sites. We'll explain how you use the method at online casinos as well as its features. Get the betting strategies at 1001onlinecasino .
History of Bank Transfer Casinos
Bank transfer is one of the oldest methods of sending and receiving money. The first money transfer is believed to take place over 150 years ago. Today, however, you can transfer money from your mobile devices.
Almost all financial institutions have platforms whether an application or USSD code that users can use to transfer money and perform some other kinds of transactions. Here are the benefits of using bank transfers.
- Safe to use
- Low fees
How to Get Started Using Bank Transfers
To be able to use bank transfer, you need to activate it with your bank or financial institution. Some banks require that you fill some forms and provide certain verification documents before allowing you to use bank transfers.
The payment method is safe as only you have access to the log in details that are stored on the private and secure data servers of your financial institution. There are also algorithms in place to enhance security.
How to Deposit at Online Casinos with Bank Transfers
To fund your casino account using bank transfer, go to the cashier page and click on deposit. This will show you all the deposit methods accepted displayed, and you can choose bank transfer as your payment option.
You can then enter your deposit amount and choose the bank you want to transfer from. This will present you with an account number associated with your betting account and you can make the transfer to the account.
- Processing of deposits via bank transfer is instant at top betting sites
- The account number or code that you are provided is only linked to your betting account.
How to Withdraw with Bank Transfers
To cash out winnings that you have made via bank transfer, head over to the cashier and click on the "Withdraw" button. You can then choose bank transfer to be your preferred payout option.
Enter the amount you wish to withdraw from your betting account as well as the banking information required. Most online betting sites process withdrawals made via bank transfers within 3 to 7 business days.
- Processing of withdrawals via bank transfer takes 3 to 7 days
- You can withdraw more winnings from bank transfer than most other payment methods
Bank Transfer Fees
Before you start using bank transfers, you should be aware that some financial institutions charge fees for transactions and maintenance. These fees differ from one bank to the other so you may want to check with your bank.
Most top bank transfer casinos do not charge processing fees when you deposit or withdraw winnings from your betting account. But you can check the banking page or T&Cs to know if your casinos site charge processing fees.