Bank transfer is one of the oldest payment systems today. This solution allows for the transfer of funds from one bank account to another, based on a prior agreement, for example, to pay for a purchase, a service, or simply to have access to funds. This system is accepted by the majority of e-commerce sites and by a large number of online casinos.
Bank transfer is a service offered in all banks worldwide. It is a universal means of payment. It is among the banking transactions. This system is an improvement of the letters of exchange that existed since the 13th century. Over time and with digitalization, these letters have inspired bankers who have then offered numerous banking services.
With these big steps forward, customers can now make a transfer between two accounts belonging to the same institution or to a different bank from that of the issuer. Currently, bank transfers are defined based on the account's domicile. There is, for example, what is called internal transfer. This is a fund transfer made between two accounts domiciled in the same branch.
Online casinos that accept Wire Transfer:
The external transfer, on the other hand, is a transfer made between two accounts owned by different banks. When the transfer is made between two accounts in the same country, it is called a domestic transfer. In the case where the transfer is made between two accounts in different countries, but belonging to the European Union, it is referred to as a SEPA transfer. If one or both countries are not part of Europe, it is considered an international transfer. It is important to differentiate them, as the fees applied are different and the procedures may vary from one bank to another.
How to use a bank transfer at an online casino?
Bank transfer is a payment system available at almost all online casinos. This is a traditional method of payment. To make a deposit, the player issues a transfer order by providing the bank details of the casino to their own bank. The necessary information is usually gathered in the bank account statement. The transaction is processed by the player's bank. The deposit is then made. For a withdrawal of winnings, the process is only done in the opposite direction. The player provides their bank account statement to the casino. The processing time takes a few days.
The advantages and disadvantages of a bank transfer
If today many players and casinos still use bank transfers, despite the emergence of more modern solutions like e-wallets, it is mainly for the security it provides. The system is also better regulated by the law. A transfer is simple to make thanks to a transfer order. However, some banks are reluctant to make payments to online casinos. Some banks even refuse to transfer money to any digital casino. Players may face a deposit refusal. Transactions are also scrutinized. The fees for a bank transfer are very varied, depending on the type. It's important to inquire about this.