Internet banking has revolutionized how our personal finances are managed, and it is no surprise that casino and sportsbook operators have harnessed this technology to simplify their dealings with customers. Betting sites that accept bank transfers are now widely available in every major market, so, with this being the case, it is only right that we focus on these entities. By doing so, we aim to explain the deposit processes at these platforms and also guide you towards the websites that could become your perfect betting companion.
What You Need to Know About Betting Sites That Accept Bank Transfers?
If you are looking for a betting payment method that has been tried and tested, the humble bank transfer could well be for you. The first bank transfers took place over 150 years ago when Western Union launched its first wire service that enabled communication between banks over vast distances. Fast forward to the 21st century and the internet’s ability to instantly transfer data from one side of the world to the other has taken the bank transfer sector to a whole new level.
The instant nature of bank transfers appeals to casino owners and betting site fans alike, even so, the rise of e-wallets, including Skrill, EcoPayz, and Neteller, means that bank transfers are more likely to be one of a range of deposit options that players draw upon than use in isolation.
How to Make a Deposit Using Bank Transfers?
Bank transfers require users to hold a valid bank account. This is a potential issue for some, as extensive ID checks are generally required before a bank account can be set up in your name. Still, the vast majority of consumers now have access to an account that will allow funds to be transferred to individuals and businesses in all marketplaces.
Once signed up to a bank of your choice and one of the betting sites that accept bank transfers from our list of recommended operators, it is easy to make a deposit to add to your balance.
- First, go to your betting site’s “banking” tab and select the bank transfer option.
- Enter your sort code, account number, and CVC number to create a deposit transaction. Key in your desired deposit or withdrawal.
- Complete 2-stage security processes by using your account details to enter your online banking app, and confirm your transaction.
- Wait for your transaction to complete. For deposits, your money is usually transferred instantly. In the case of withdrawals, you should see your winnings in your bank account in around 2 hours.
Deposit Options at Betting Sites that Accept Bank Transfers
Bank transfers come in different forms, with each having their own geographic appeal.
1. CHAPS: The Clearing House Automated Payment System is designed to move large sums between accounts swiftly. Because of the fees attached to CHAPS transactions and relatively high minimum deposit levels attached to this option, it is rare for betting fans to utilize this method.
2. BACS: The Bankers’ Automated Clearing Services is a popular way to complete bank-to-bank cash movements. For betting enthusiasts, BACS could prove to be a viable option. Low minimum transfer limits are ideal for occasional punters and BACS payments are usually completed fee-free. However, if speed is your priority, BACS might fall short, as some transactions sent this way may take up to three days to clear.
3. Faster Payments: The faster payment system uses the mobile banking system to shift money between sender and recipient in real time. Given the popularity of mobile betting sites and the simplicity of the Faster Payments system, it is no surprise that this type of bank transfer is rising in popularity throughout the iGaming industry.
4. Wire Transfer: In some markets, it may be necessary to move deposits internationally. If this is the case, you will need to complete a Wire Transfer. To do this, you will need to know the full name and bank details of the recipient to ensure that the process is completed in a reasonable time.
If you like built-in security for every deposit that you make at your favorite online casino, betting sites that accept bank transfers are likely to be high on your watchlist. PayPal gambling websites and Skrill eSports betting platforms may be more in vogue, but the humble bank transfer can still be relied upon to get your money into your favorite account. Using a bank transfer to add money to your bankroll also saves you time. Whereas the use of e-wallets or vouchers is likely to cause additional logins or create extra work, by signing in to pre-populated bank accounts, players are just one click away from getting to the heart of the action. Check out our recommended list of bank transfer betting sites for more information.