Online casinos and other providers of gambling platforms that offer a variety of fun-play and real money game titles to their player base around the clock are primarily considered entertainment businesses. The difference between the two versions introduces the additional consideration of making money with these platforms. As a result, managing, storing, and transferring money has become a top priority for any reputable online casino service.
Necessity for Reliable Banking Methods
Players can now use cutting-edge payment processing techniques thanks to new, modern services, which have been made possible by the growing need to handle this issue properly. All kinds of restrictions apply and set the boundaries of their accessibility, even though some may do away with intermediaries and others may act in their place to increase security.
These widely accepted payment methods, which have been around since long before the Internet even existed, have applied their dependability, effectiveness, and compatibility. These services are still offered today, even on the most reputable websites for gambling (casinos and similar sites), with wire transfers being among the most popular options.
What is a Bank Wire Transfer?
Bank wire transfer payments, also referred to as credit transfers, generally refer to the transfer of money from one entity to another. These entities, which each use their bank account information to send or receive the required cash amount, can be people, businesses, or entire corporations.
This Wire Transfer Method
When people needed a practical way to send money across their country as quickly as possible during the telegraph era, it came into existence. As a result, they would give the telegraph service the required cash sum along with their personal information, bank account information, and recipient information.
The corresponding service in that region would then cash out the money after sending a telegraph with the recipient’s name and the amount to the specified location. While the actual funds paid by the sender were later delivered to the designated location by a courier, this was done to speed up delivery.
Telegraphs were sent and received via wires
.giving birth to the term “bank wire transfer payment service,” which has been used ever since. Due to a direct transfer of funds between the two banks holding the separate accounts, transactions are carried out without the aid of a middleman. This reduces the amount of personal information that needs to be shared, making privacy protection in the interest of both the sender’s bank and the receiver’s bank.
Bank Wire as an Online Casino Payment Method
Due to its long history, the bank transfer payment method has been able to develop and broaden its service coverage over time, finding suitable application in the quickly expanding online casino industry.
This is undoubtedly one of the most popular and secure payment processing methods listed in the Cashier sections of online casinos. Regarding the former, the unregulated and well-known status of banking institutions placed at the center of such transactions allows for the removal of jurisdictional and regional restrictions for wire transfers.
Regarding the later aspect of wire transfers:
The inclusion of the aforementioned institutions serves as sufficient evidence of security. In particular, banks and financial management companies protect their clientele using cutting-edge encryption technology, offering safeguards against any cyberattacks and interference.
Even though the wire transfer payment method is safe and widely accepted, it can be a little difficult for players to use for the first time. This is because both deposit and withdrawal transactions follow a specific process that typically involves a few steps, as shown below:
Bank Wire Deposits
Step 1: To confirm that the platform providing this payment method is authorized, secure, and reliable, players must register for a player account at one of the operators listed here. They can immediately fund their player account and begin playing real money casino games after signing up.
Step 2: Select “bank wire transfer” from the list of available deposit methods in the Cashier section. This takes users to a pop-up window where they must complete a form with personal and financial details about their account, typically including information like IBAN, the bank’s SWIFT code, and the physical addresses of both the player and their preferred bank.
Step 3: After entering their desired deposit amount, players must send their request. Some operators may additionally demand players to contact customer service because banks will need to transfer the funds to the casino account.
Step 4: Enjoy real-money action with your chosen deposit amount.
Bank Wire Withdrawals
Step 1: Go to the Cashier section and select ‘bank wire transfer’ under withdrawals.
Step 2: After sending the request, players must enter their personal and financial information once more for confirmation. Remember that before requesting a cashout, you must have satisfied the wagering requirements for any bonuses and promotions they may have used.
Step 3: Players should anticipate having their funds available in their bank accounts approximately one weekday after submitting the withdrawal request because the processing time for wire transfer withdrawals can range from three to seven working days on average.
Bonuses & Rewards
All bonuses, promotions, and player rewards offered by the operator should still be available to players who prefer to use bank wire transfers for their online casino banking. Specifically, deposit match bonuses like welcome offers and reload bonuses are typically available to anyone who has made a qualifying deposit to their player account, whereas no deposit bonuses do not require players to select a method in order to benefit from them.
A few platforms.
.do include specific benefits for using a specific payment method in order to pique players’ interest, which is why it is frequently suggested that players carefully read the terms and conditions before utilizing any of the offers.
As was already mentioned, this method of payment processing predates the creation of online casinos as services offered online. The longevity of the service in general and player reviews from when they used it as a payment method for an online casino only serve to underline the significance of the benefits that this payment method offers.
With the advent of the SWIFT system, players at international online casino platforms can select bank wire transfers as their preferred payment option. The Society for Worldwide Interbank Financial Telecommunication, or SWIFT, allows bank account holders to send and receive money from and to more than 200 countries at the moment.
The unique SWIFT code for any separate financial institution contributes to further security and transparency of the given transactions, complementing the high-end encryption certificates and security protocols applied by each separate casino operator.
Before the creation of the first wire transfer techniques or the first online casino platforms, banks already existed as independent organizations. As a result, they have developed a larger network and gained credibility, enabling them to conduct bank-to-bank transactions without the need for a middleman.
Worldwide acceptance of this payment method as fully legal has allowed online casino players to use it in order to take advantage of cross-border gameplay without having to worry about their finances.
High Transfer Amounts
The majority of online casino payment methods that are listed in the Cashier section have minimum and maximum deposit and withdrawal amount restrictions. While deposits are frequently instant across all payment methods and are repeatable, withdrawal amounts are frequently limited.
Due to their above-average deposit, withdrawal, and bonus amounts, high rollers are thought to benefit the most from bank wire transfers’ high withdrawal amount limits, which are able to satisfy the needs of both beginners and regulars.
However, using bank wire transfers as your preferred banking method has drawbacks. Players still have to read them and weigh the benefits and drawbacks based on their own preferences before deciding whether to use such a method for their online casino activities.
Wire Transfer Set-up Procedures
The bank wire transfer setup requires players to input some specific information, including codes, casino and bank identification numbers, and the like, according to the depositing step-by-step instructions.
While some players are unconcerned by this requirement, others feel that it requires too much manual setup for a straightforward deposit and, by extension, withdrawal. The fact that players might have to go to their actual bank locations to complete the initial setup forms, as was customary a few years ago, is an additional disadvantage.
The typical processing fee for this type of payment method ranges from $5 to $10 up to $50 or more per transaction. It depends on the casino platform, the financial institution, and the amount of money being processed in real terms. In this regard, fees for processing withdrawal requests invariably include a fee for the service while fees for processing deposits are more frequently subject to such expenses.
Lengthy Transfer Times
Nowadays, deposits are processed instantly across all online casino platforms, but the same cannot be said for cashout requests made via bank wire transfer, as it can take up to a full 7 working days for the money to appear in your bank account. This is because, as was already mentioned, there is no intermediary, and neither are bank officials nor casino support staff present. are still required to accept and handle requests in order for players to obtain the finished item.
1. Which currencies are typically supported by wire transfers as a payment method for online casinos?
The majority of players worldwide should be able to conduct transactions using their home currency given that this payment method uses banks and other similar financial institutions as processing services. However, it is crucial to keep in mind that the operator of the online casino may not accept it and exchange it for a different one at a cost.
2. Will I be able to gamble ‘on the go’ via my mobile device if I choose this as my payment method?
Since the beginning of its existence, the banking system has greatly advanced. Players can now complete the appropriate transaction form online thanks to online banking, whereas back then they were typically required to visit their physical banking institutions. With this service, users can use their smartphone or tablet just as easily as a PC to access, review, and request transactions from their own bank accounts.
3. What are the best substitutes for using bank wire transfers for both deposits and withdrawals?
Each payment method has advantages and disadvantages, but when it comes to the best alternatives to bank wire transfers, credit and debit cards are advised because they are the next best thing in terms of banking security features. E-wallets like PayPal, Neteller, and Skrill are the best options for players, though, should they need a faster, fee-free payment processing service.
4. Are there any online casino operators that don’t include such high fees for their withdrawal requests processing?
Since there aren’t many operators, bank wire transfer requests aren’t always subject to high fees on online casino platforms. Players should be aware that some platforms provide free promotional requests for wire deposits and withdrawals in either case. These are typically limited to once per month, but they still enable players to request a sizable cashout amount through 100 percent safe and secure channels without incurring any fees.
5. Is there any way I don’t have to share my official bank account information with the given casino operator when requesting a transaction?
Given that this payment method uses a bank wire transfer, processing the transaction would unavoidably involve the player’s bank account. However, players are free to open a different bank account just for payments related to gambling. This would help them manage their casino bankroll more easily while also keeping deposits and withdrawals separate from your regular personal bank account.
Wire Transfer Online Casinos
A bank wire is a secure way to instantly transfer money from a bank account to a gambling account at online casinos. A wire transfer has very little chance of being fraudulent. Money is safe and guaranteed once you verify your bank account.
Main justifications for choosing a wire transfer as your method of online casino deposit:
- Secure Payment
- Guaranteed Transaction
- High Limits
Wire transfers may also be referred to as “bank transfers” or “electronic funds transfers” (EFTs). Regardless of their name, wire transfers all follow the same procedure. Since direct deposits and ATM withdrawals are both types of EFT, the majority of people have used wire transfers at some point. They are frequently the main (or exclusive) method of payment for online gamblers.
Wire Transfer Online Casinos
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OUSC Guide to Wire Transfers
This Online United States Casinos bank wire guide details all you need to use bank drafts for gambling on the internet. Go over this step-by-step guide for making an online casino deposit using wire transfers, how to make a withdrawal, what the transaction limits are, and the benefits and drawbacks of bank transfers.
Find out if this is the best deposit method for you in the following paragraphs, along with the top online casinos that accept it.
Pros & Cons of Using Wire Transfers as a Deposit Method
Each payment option has benefits and drawbacks. Bank wire transfers have many benefits, but they also have a few drawbacks. Here is an objective review of using bank wire transfers to fund and withdraw from online casinos.
- Security: Bank wire transfers tend to be safe. Banks invented most financial security procedures – and do them the best.
- Guaranteed Payment: If a transfer is lost, many banks guarantee the transaction. In the US, regulations often require it.
- High Limits: EFTs often have higher withdrawal limits than credit cards or web wallets. High rollers like bank wire transfers for that reason.
- May Have Fees: Many banks and financial institutions charge a fee for international wire transfers. Always check to see if there are fees.
- Takes Longer: Wire transfer withdrawals take longer than Bitcoin or e-wallets since banks have more protocols in identity verification.
The Best Online Casinos that Accept Wire Transfers
The best online casinos for wire transfers were investigated. Maximum deposit amounts, bonus offers, game selection, dependability, and security are some of our criteria. In order to ensure that both high rollers and penny players can have a good time, we recommend casino sites with high bank wire transfer limits.
|RANK||ONLINE CASINO||MIN/MAX DEPOSITS||MIN/MAX PAYOUTS||BONUS||PLAY NOW|
|#1||Wild Casino||$1,000 – $No Max||$500 – $24,900||$5,000 Welcome Bonus||Deposit Now|
|#2||BetOnline||$1,000 – No Max||$500 – $24,900||100% up to $3,000||Deposit Now|
|#3||Betway Casino||$20 – $No Max||$10 – $4,000/week||Welcome Bonus up to $1,000||Deposit Now|
A newer online casino is Wild Casino. Even so, it’s currently among the best choices for players who use bank wire transfers. You’ll be given a no maximum deposit bonus, and the maximum payouts can reach $25,000. Despite having fewer games than its rivals, Wild Casino is consistently expanding its selection.
Open a new account at Wild Casino to receive a signup bonus of up to $5,000.
Although BetOnline is a sizable international casino site as well, Americans are welcome to play there. There is no restriction on the amount you can deposit when using Neteller, Skrill, or a bank wire transfer. It’s simple to take advantage of all of the promotions while funding your account because new depositors receive a three-tiered welcome bonus. With a classic and live dealer online casino as well as a cardroom, BetOnline is a one-stop gaming destination.
New BetOnline players can enjoy a 100% Welcome Bonus of up to $3,000 .
The top progressive slots from NetEnt and Microgaming are included in the enormous selection of games that Betway Casino offers. Additionally, Betway offers Evolution Live Gaming’s live dealer casino games. Any number of bank wire transfers can be made to your account. Due to its weekly withdrawal caps, Betway is ranked third on our list.
Players at Betway Casino receive a $1,000 welcome bonus as well as $9,000 in freerolls.
Using Wire Transfers as an Online Casino Payment Method
Using a wire transfer at an online casino follows a similar procedure to most bank transactions. Below, we walk you through the procedure step by step. To get the IBAN and BIC codes, get in touch with your bank. Once you have these, repeating the process repeatedly won’t cause you any problems.
Making a Wire Transfer Deposit
Remember to create an account before making a deposit at an online casino. With the correct IBAN and BIC codes, the website contacts the bank and executes the transfer. A secure system, such as SWIFT or Fedwire, is used to deliver wire transfers to the bank. Transfers to the casino won’t always be instant, but they typically won’t take more than a few hours.
- Make a Deposit: Log into the site and navigate to the cashier page. Select “Deposit,” then select “Bank Wire Transfer” to start the wire transfer process.
- Choose Wire Amount: Choose the amount you want to send, then verify the payment when prompted. Accept your deposit bonus before processing and read through the terms.
- Wire Transfer Fees: Sending banks or institutions charge a fee, while the depositing banks draw a fee from the amount sent. Online casinos do not charge fees, but their bank might.
- Play for Real Money: Once you have money in the account, play casino games for real cash. At first, play games that satisfy your wagering requirement. Once you clear the conditions, it’s time to make a withdrawal.
Making a Bank Draft Withdrawal
In many ways, the withdrawal process at an online casino is similar to the deposit process. Due to the casino and your bank needing to confirm your identity, the payout process takes longer. The majority of the time, fees will be involved in this process.
- Withdrawal Request: Go to the cashier page once more. This time, select “Withdrawal,” then select “Bank Wire Transfer” from the list of options.
- Verify Your Cashout: Next you need to verify the payment. Once you make a withdrawal request, you can cancel for a few hours, but the cashout is final after the initial waiting period.
- Wait for Payment: Payments sometimes take 5 to 10 business days. Check your bank account periodically to see when the withdrawal arrives.
How to Choose a Wire Transfer Online Casino
Read online casino reviews first. You should take a few factors into account when you see that a website accepts wire transfers.
Check the withdrawal fee for wire transfers first. Some are in the $20–$40 range, though some can be up to $100. Determine your upper limit and make sure your preferred casino stays within it because it does get out of hand at some point. Additionally, many players benefit from some casinos allowing one free withdrawal each month.
Second, look into the wire transfer withdrawal window. For wire transfer cashouts, some websites require a 2- to 4-day wait, but the majority require waiting times of 5 to 10 days. Once more, confirm that the delivery time offered by the online casino suits you. Consistency and dependability are crucial. For reliable payments, it’s not a big deal to wait an extra day or two.
Top Online Games You Can Play by Using Wire Transfer
Few US-friendly online casinos have specific wire transfer bonus promotions. Only a few American online casinos limit wire transfers deposits, so any game should work.
Pick a casino that supports wire transfers. For instance, Bovada and Slots.lv don’t use wire transfers, but BetOnline, Sportsbetting.ag, Golden Lion, WildCasino.ag, and Betway all do.
Online slots, real money keno, and scratch cards are the quickest way to clear bonuses. Give these online casino games for real money a try at your favorite gambling site.
Wire Transfer: A Brief History
The first wire transfers took place in the 19th century. In 1872, Western Union used telegraph lines to send the first wire transfer. A Western Union station could accept payments from people located anywhere in the United States. That station would transmit a “wire transfer” to another station using passwords and codebooks. The recipient Western Union office would use their own cash to pay the person on the other end.
Since then, the wire transfer system has become progressively more complicated. The fundamental idea hasn’t changed despite the improvements. Modern banking institutions and wire transfer services ensure security by utilizing identity verification tools and advanced encryption techniques. Payments can be sent through a number of wire transfer networks, including SWIFT and Fedwire. Wire transfers are becoming more and more common among online casino players because they can handle large payments.
Should You Use Wire Transfer Deposits?
The OUSC team concurs that wire transfers are a secure and dependable way to transfer money from your bank account to their website. Bank wire transfers transfer the cashback to your bank account after you collect your casino winnings. If you don’t want to use Bitcoin, US players will discover that bank wire transfers are the best choice for handling large sums of money. Wire transfers are the best choice for high rollers who want to withdraw $25,000 at a time.
Banks may charge you $50 to $100 for a wire transfer, but for a high roller, that is a small price to pay. Additionally, the bank wire will take 5 to 10 days to arrive. Keep in mind that wire transfers skip one of the steps because people who use credit cards or e-wallets frequently transfer their funds to banks in the end. Pick one of our suggested sites for wire transfers and start playing online because bank wire transfers are a convenient way to cash out at an online casino.
Players Also Ask About Wire Transfers
We’ve written a brief Q/A about using Wire Transfer at online casinos in case readers still have any questions. If we haven’t addressed your worries yet, read through these frequently asked questions.
Wire Transfers/Drafts Deposits FAQ
Do any US online casinos accept Wire Transfer deposits?
Wire transfers are accepted by many online casinos, yes. Others don’t. For instance, online wire transfers are accepted by Sportsbetting.ag and BetOnline. Wire transfers can be made at Wild Casino, Golden Lion Casino, and Betway. Ignition Casino, Bovada, Slots.lv, and Cafe Casino do not.
How can I get real money using a Wire Transfer as a payment method?
Is using a Wire Transfer as a deposit method safe?
Compared to credit cards, web wallets, and e-vouchers, bank wire transfers are equally safe if not safer. EFTs are protected by cutting-edge security measures because banks make it their business to protect money transfers.
Wire Transfer Casinos at Your Service
Each method of sending money from your wallet to your preferred online casino has advantages and disadvantages. In the end, it all comes down to which choice best meets your needs. There is no other way to transfer your hard-earned money if security is your top priority, other than through a wire transfer through your bank.
Why Perform a Casino Wire Transfer?
A wire transfer is the most hands-on way to handle your money because you can never physically meet with your casino to deposit money into their software. This gives this payment method several benefits that are simply not possible with others.
No gambler wants to wait several days to start playing at his or her wire transfer casinos because transfers frequently take several days.
- Every bank has different rules and restrictions, but wire transfers can be completed in one way or another at every bank on planet Earth. The only exceptions when considering online casinos are specific European banks that have limits and restrictions on transferring funds for gambling purposes. These cases are few however making bank transfers widely available and generally simple to perform. Also every online casino will except and gladly perform wire transfers.
- If you’re looking for the safest way of moving your funds, wire transfer beats them all. Because wire transfers require you to appear in person to validate your identity, it is nearly impossible that fake or wrong payment could be made in your name.
Why Not Wire Transfer Casino Banking?
A casino wire transfer, however, might not be for you if speed or convenience rank first in your payment method criteria. No gambler wants to wait several days to start playing at his or her wire transfer casinos because transfers frequently take several days. No one wants to have to wait days to receive significant winnings, even though every casino will send you your winnings via wire transfer and this is by far the best withdrawal option in the United States. In addition, wire transfers require you to leave your casino in order to make a timely trip to the bank.
How to Make a Wire Transfer
These are the fundamental steps you must follow once you decide to wire your gambling funds, even though each bank may have slightly different policies.
- Go with identification and the codes of your casino to the bank where you opened your account and inform them that you would like to make a bank transfer.
- Your bank will usually take an extra service fee and send a request to the receiving party to accept the wire transfer
There isn’t much more to it than that, and your bank is always available if you run into issues with a bank transfer.
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– Bank transfers can be completed at almost every bank
– Wire transfers are the safest possible way of completing transactions
– Transactions often take as long as 10 days for completion
– You have to physically appear at your bank for identification
About The Author
I started playing online poker in 2004 in an effort to better understand the psychology of casino goers. I’ve delved deeply into the industry and its inner workings for extended periods of time, and I still do so every day at VegasMaster. I hope you will gain knowledge about gambling from my research and experience.
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