One of the most traditional ways in which online casino players fund their online gaming is through wire transfers. Although this depositing and withdrawing method is slow for the fast-paced lifestyles we live these days, it is one of the oldest casino banking methods. Despite the payment option falling out of fashion in other industries, wire transfer casinos are a staple in the United States.
Why would people choose to use a banking method that has a processing fee and transfer times? Well, due to the safe and secure systems put in place by banks to ensure that you and your money are safe.
If you would like to find out more about making using wire transfers fund your casino account, you have come to the right place. Below we have a look at all you need to know about transferring money to a casino using this method, including:
- How to make deposits and withdrawals
- The pros and cons of using wire transfers
We also list the best casinos that accept bank account and wire transfers. We do this so that you can start playing your favorite casino games for real money as soon as possible. Since then, there has
Wire Transfer Links
- Online Casinos that Accept Wire Transfers
- What are Wire Transfers?
- Casinos That Accept Bank Transfer: How to Make A Deposit
- Casino Wire Transfer Deposits: Advantages
- Instant Bank Transfer Casino: Disadvantages
- Bank Wire Transfer Casino – FAQs
Simply stated, a wire transfer occurs when you move money across banks or agencies that operate in a network. You perform a wire transfer by providing your bank with the name and bank account details (the IBAN and BIC codes) of the person or business you would like to pay. This is in addition to the amount you would like to transfer.
The bank wire transfer is one of the oldest transfer methods in the world. The first such transfer was said to have been performed by Western Union in 1872. Since then, there has been a load of great advancements within the area in terms of speed, ease, and levels of security.
However, since the advent of more convenient payment options, such as credit and debit cards, cryptocurrencies, and e-wallets, wire transfers have fallen out of favor with a lot of people. You’ll still always find this method of withdrawing funds in the cashier section of a casino site. At US casino sites, this is often the only option.
Just follow the steps outlined below for making deposits using wire transfer at gambling sites, and you’ll be playing your favorite games in no time:
- Pick a casino. Most websites accept wire transfers, but you’ll want to double-check to make sure that the casino offers it as a depositing method. Then, create an account at the casino and sign in.
- Navigate towards the casino’s banking page specified for payment methods and select the wire transfer deposit option.
- You will now need to input all the information the casino requires to make a successful wire transfer. This may include personal details and your full name and account number, among other things.
- You will then need to order the wire transfer from your bank. This can be done online, over the phone, or at the bank itself, depending on what is offered by your service provider.
- The next step is to wait until the casino receives the funds from the player’s bank. This may take anything from a few minutes to a few days, depending on your bank and casino.
Usually, even if a casino offers you the chance to make deposits using wire transfers, we don’t recommend it. We’ll get into this more down below, but it has mostly got to do with transfer fees and the time it takes to deposit funds. You will probably also need to contact customer support to begin the fund transferring process.
Instant Bank Transfer Casino USA: Making Withdrawals
At a lot of casinos aimed at US players, wire transfer is the only available withdrawal method. So, here is how you would go about performing a withdrawal with this method at a gambling site:
- Log in to your online casino account and head over to the casino’s withdrawal section. Select the wire transfer option and enter the required bank details.
- Input the amount of cash you would like to withdraw from your casino account. (Always keep in mind the casino’s withdrawal limits.)
- Click on withdraw and now wait for the funds to make it to you. The standard withdrawal time is five and seven workdays. But it could take longer under some circumstances.
Although wire transfers are slow, there are some advantages to using this method, including the following:
- Wire transfer is the most widely accepted banking method at US casinos. Especially, with regards to withdrawals
- Usually, you can make larger transfers with wire transfers. This makes it the best banking option for high roller players.
- Banks have amazing security. So, you do not have to be worried about making transfers. No outside party is involved in the movement of funds.
Unfortunately, there are a couple of disadvantages associated with using this old, but reliable banking method, including
- The biggest drawback of using wire transfers is that it takes so long to process a transfer. With regards to deposits, you have to wait days to play casino games for real money. With other banking options like e-wallets, cryptocurrencies, and debit and credit cards, you can start playing immediately.
- Wire transfers often have fees attached to them. Often, you’ll find that casinos don’t charge any fees on any other transfer options. However, with wire transfers, you need to reach a high minimum withdrawal amount and then pay about $50 to the casino for the transfer.
- Some banks don’t allow you to make wire transfers online. So, if you want to get some cash into your casino account, you need to go to your nearest bank branch to make a deposit. And this is very inconvenient.
Yes, you can wire money to both online and physical casinos.
Yes, casinos can wire transfer winnings. In the US, this is often usually one of the only two withdrawal methods available to players, with the other being Bitcoin.
Yes and no. This depends on the bank itself. Some banks do not allow such transactions because they would like to remain complaint with old and abolished federal laws. But most don’t really have a problem with it.
No, we would not recommend doing so. It takes anything from 7 to 21 days for these transactions to be processed. Are you still going to want to play in a month?
You can still do it, though, if this is really the only method on the list of transfer options available to you.
An international wire transfer takes a few steps to be completed. The transaction is initiated and then needs to pass through the SWIFT network with a SWIFT code to get to its destination. This means that it could pass up to three banks before getting to where it needs to be.
A wire transfer is a direct bank-to-bank transaction. A bank transfer is processed in batches by a clearinghouse, which is why it takes longer for these to be processed.
Learn More About Casino Banking Here