Casinos with Transfers
How the bank transfer works
Today the different operators and electronic transfer systems have various options so that the client can make their transfers in the most comfortable way depending on preferences and amounts, they can even order them by phone; however, bank transfers are slow, a fact that, together with the appearance of newer systems, means that it is being used less and less.
In order to make a bank transfer, you must carry out the following steps: first, you must ask your bank to make a transfer of the desired amount of money to the recipient account, providing the IBAN or BIC code; then, the bank sends the money to the receiving bank according to the data provided through a special security system and the transaction is carried out within hours or days; finally, the recipient receives the money in his account.
The banks involved in the transfer charge for the service provided, although in many cases, if there are two accounts in the same bank and with a common owner, the transaction can be carried out free of charge.
Thus, only four entities intervene in the bank transfer process, that is, the sender, the recipient and their respective banking entities. It is a slow payment method because no step is carried out without first ensuring its security and validity.
How to use bank transfers at online casinos
Making deposits in online casinos through bank transfers is very simple and the procedure does not vary from the standard. The player must contact with their bank and report the amount they want to send to the casino and provide their bank details, that is, the IBAN, BIC or SWIFT and the address of the casino bank and the company that owns the same casino ( the same casino provides you with this information when you open the account and choose bank transfers as a payment method). The amount deposited will appear in your casino account within the period previously indicated on the casino website (normally a maximum of 5 or even 10 days).
On the contrary, that is, to request the withdrawal of funds in virtual casinos through bank transfers, you must inform the casino of the amount and the bank details of your account, where your winnings will be transferred within the agreed period. It should be remembered that the size of the commission to pay will depend on your bank (if the casino charges a commission for using transfers as a payment method, you can see it on their website).
Advantages of bank transfers
- Security and accessibility. The fact that intermediaries do not participate in the transaction and that both parties are obliged to identify themselves before any shipment is made significantly increases the level of security of the management.
- The popularity and age of banking transactions guarantee the presence of this method among the deposit and withdrawal options of practically all virtual casinos.
- Availability to move large quantities. If you want to withdraw large sums from your gaming account (for example, after having won a jackpot), you will be interested to know that transfers are an ideal method for large transactions, since the costs do not vary and in this way the player saves commissions.
- The privacy of bank transfers is the result of the fact that only the two banking entities involved know the details of the shipment.
Disadvantages of bank transfers
- Management slowness.
- The management fees applied by some banks can be very high, it would be good if you previously consulted with your bank.
- The obligatory identification of both parties entails the slowness in the management of banking transactions. While all the permits between entities are given, it can take almost a week, especially in the case of withdrawals of earnings; although currently many banks make transfers in a matter of hours and even on weekends.
- The possibility of rejection. In the event of some type of error in the sending data, the transfer could be rejected.
Limits and commissions
Although the commissions and fees depend on the specific bank, the most expensive transfers are the international ones with respect to the national ones and the outgoing ones with respect to the incoming ones. The limits on the amount of deposit or withdrawal to be made in an online casino using bank transfers can vary, although they usually start from a minimum of 10 EUR.