Bookies that Accept Bank Transfer
It is not a coincidence that most professional punters and bettors with lots of experience opt for Bank Transfers when betting. This traditional method of funding your online accounts remains on top. Even newbies in the world of online gambling will appreciate the security bank transfers have to offer and most definitely choose this among other payment methods supported by the bookmakers. Lastly, the maximum limits when bank wire transfers are involved are much higher. Hence, even high rollers prefer this banking gateway among all other e-wallets and e-vouchers available.
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What is Bank Transfer?
Having a bank account nowadays opens a lot of doors. Not only can you transfer funds from one account to another, but you can also make direct debits. This will allow you to pay online as well as fund any virtual wallets and accounts you may have. Without the need to make an additional profile on the Internet, you can use your bank details for almost all online transactions. Of course, these include all recommended bookmakers that have made sure to include bank transfers in their arsenal of payment options. It will be hard to find a betting site that does not support bank wire transfers or direct bank deposits because these are the most widely used gateways on a global scale. This trend, though, may soon change due to the rapid growth of e-wallets and cryptocurrencies.
- The first-ever ‘wire’ money transfer came about in the 1800s where people used telegraph to wire money. Hence, the term bank wire was coined.
- Until the 1960s, all bank transfers were only on paper and took months to be processed.
- It was in 1968 that the UK implemented electronic transfers with magnetic tapes for quicker processing.
- In 1983, bank phone transactions were now possible with the help of a special phone system.
- 20 years later, in 2003, the phone system was substituted by the Internet. This service has been on the climb ever since.
Online Betting with Bank Transfer or Bank Wire
Betting on bookies’ sites couldn’t be easier if you opt for fast bank transfers. This is especially so if you have online banking connected to your account. Thus, with only a few clicks, you can manage your funds and distribute them to any betting account you deem fit. The process is straightforward and the benefits plenty.
Using bank transfers will mean that you can deposit instantly to any betting account. To top up your account, you will need to use the reference code of the bookmaker. Before that, however, verifying your bank account will take a while. Once this is done and over with, you will face no problems or complications when you make direct deposits from your bank.
It is exactly because you will need to attach and confirm your bank account to your betting one that bank transfers are so safe. On the one hand, the high ratings bookmakers will do a check for each money transaction. This may slow down the processing time, but will add another layer of security. On the other hand, your own bank will conduct a check to double-check where your money is going. As a player, you can also add other authentications to secure your banking transactions even further.
Bookmakers need to adjust to the changing gambling environment constantly. That is why you can now see banking methods available on almost all mobile betting sites and apps that are leading in the industry. Thus, no matter which mobile platform you opt for, you will be able to control your betting much better with direct bank transfers.
Reviewing the rewards schemes of any bookmaker is what we also focus on. And most of the time, we point out which deposit methods punters need to avoid. The reason is that some e-wallets will disqualify you from the bonuses available on the betting sites. Luckily, bank transfers are never on the list with payment methods you should steer clear of. To the contrary, most bookmakers will trust their customers much more when they use these banking gateways.
How Do I Attach my Bank Account to the Bookie’s Platform?
Choose to join a bookmaker using your bank account. Then, you will need to verify two things – your identity and your bank details. Doing so will activate your profile, and you can go ahead and deposit funds straight away. In order to attach your bank account to your betting one, you will need to provide some details. Depending on whether you deposit on an international or local site, these may include:
- Full Name: Usually, the bookie will ask for your first and family name only.
- Bank Name: You will need to provide the name of the bank and its address.
- DOB: You must also include your date of birth.
- IBAN: This is the identification number of your bank account.
- SWIFT or BIC code: This is your Bank Identifier Code that may include numbers, letters and characters.
Some bookies will also request confirmation of the data you provide. They may ask you to send scanned copies or a picture of a bank statement or any other doc they seem fit as a proof.
Types of Bank Deposit Methods
There are three quite common bank transfer methods. Whichever you choose, you must know that most bookmakers will accept them. However, some of these are available only for deposits while they won’t be possible if you want to cash out your funds.
Online Bank Transfer allows customers who have online banking activated on their desktop computers, laptops and smartphones to make transactions. This is by far the easiest and most convenient method you can use. Also, the majority of betting sites feature it in their Cashier sections.
When you use Bank Wire to wire money from your bank to another account, be it online or not, you will need to go in person to the bank. Talk to a teller, and they will conduct the transaction in your stead. Apart from being a time-consuming process, it also involves lots of paper consumption. And in a world where everyone is trying to go paperless, this might be an issue.
Since their appearance in 2008, Fast/Instant Bank Transfers link two accounts of two different banks. This is by far the fastest method of depositing, especially when the given bookie does not accept your bank in its payment section. Thus, you can think of your betting account as another bank and make a fast bank transfer within several minutes.
Ways to Fund my Betting Account via Bank Transfer
Bank deposits on betting sites require minimal effort. Just go to the Cashier or Payments section and choose your method. You can opt for Bank Transfer, i.e., online bank transfer or Bank Wire. Choose the sum you want to fund your account with.
You will then see your betting account bank details. These will include the name of the bank of your bookmaker. The account name, number, and Swift code. A unique shortcode will add a layer of security. Besides the details from above, copy all other info, including the beneficiary’s address and phone number. It is vital to write down the reference number as well. Without it, you won’t be able to complete the transaction.
Finally, go to your bank’s online portal and input all copied details. Very soon you will see a confirmation by the bookie.
How Do I Withdraw from the Bookmakers to my Bank?
While depositing using bank transfers is nothing new, cashing out your winnings from bookmakers might be quite the hassle. Here’s a step-by-step guide for bank withdrawals. Follow our instructions for smoother pay-out experience.
- Firstly, you will need to sign in your betting account. Use the desktop site of the bookie or its mobile app.
- After that, head for the Cashier and select “Withdrawal” from all the options.
- Choose the amount you would like to cash out. Mind the maximum limits involved.
- Now it is time to select the Bank Transfer method you want – Online or Wire.
- If you have used the same method for deposits, your bank account will be attached here. If not, fill in your Bank Name, SWIFT code, and IBAN to proceed. Click on Withdraw to complete the process.
Bank Wire & Transfer Fees
You can check all betting sites’ payments section for info on the transaction fees. In the majority of cases, transferring money using your bank is absolutely free of charges. So, you won’t need to pay any fees. If, however, the bookmaker you have chosen to take a commission on these payment methods, you had better choose another site. In reality, most licensed bookmakers will never charge their customers for bank transfers. Fees are more common with e-wallets and other online purses that spring more and more nowadays.
Pros & Cons of Betting with Bank Wire
- Pros
- Unbeatable security levels and transparency
- Free with no fees for transactions
- Perfect for high rollers because of the high maximum limits
- Cons
- Slower withdrawal processing times
- No anonymity when it comes to betting with bank transfers
Frequently Asked Questions
Are bank transfers the best payment method to use when betting online?
It is really up to the individual player to decide. However, we can safely say that all high traffic bookmakers will include bank transfers on their platforms.
Can I use bank transfers with Cryptocurrencies?
The day that banks will accept cryptocurrencies like Bitcoin or Litecoin has yet to come. If you want to play on crypto betting sites, you should consider a digital wallet for fiat currencies.
Is it true that withdrawing via Bank Transfers is much slower compared to other options?
While some e-wallets offer instant payments, Bank Transfer withdrawals will take between 2 to 5 working days to process.
Do I need a Bank ID to make a Bank Deposit at a bookmaker’s site?
Some bookies accept Bank ID, but this is not quite common yet.
Alternative Payment Options to Bank Transfers
We know that some punters are traditionalists and prefer regular payments via their banks. However, you may consider the following options for their functionality and convenience. Here are the alternatives to bank transfers we recommend for online betting.
- Instant and as safe deposits using Bank cards
For all old-schoolers out there, consider debit & credit cards as an excellent alternative. Deposits are immediate and you wouldn’t have to compromise with the safety of your information. - Better functionality when using e-wallets
Since you can do almost anything online nowadays, why not consider electronic wallets? We recommend top-notch brands like Neteller, for example, or Skrill for your betting experience. Some purses do come with fees but they are extremely low and worth it overall. - Unbeatable convenience with e-vouchers
Nothing beats cash when paying online. So, having the option to pay with an e-voucher like Paysafecard is amazing, to say the least. Use the vouchers like you would do e-cash to fund your betting account with ease.
Is it Worth Betting with Bank Transfers?
Overall, we can safely say that bank transfers are hard to beat. This payment method has been around for centuries. And it is not showing any signs of going anywhere anytime soon. On the contrary, bank transfers have been evolving with the changing times. Therefore, we are more than conveniences that this option will be among the best in the future of online gambling.