How to make a deposit using Bank Transfer?
What are the main advantages of Bank Transfer?
What do you need to pay attention to while using Bank Transfer?
How to withdraw your winnings from a Bank Transfer casino?
How to create an account to process a Bank Transfer?
Verification of your Bank Transfer online casino account
Privacy and confidentiality
About Bank Transfer
Do you know what the oldest and safest payment method that can be used by a Bank Transfer online casino is? For sure, its name is bank transfer. This payment solution is also known by different names, including wire transfer, net banking, and online banking. Moreover, it is available globally and provides its payment services almost in every country on the Earth, including India.
The only obstacle with this payment system lies in online gambling houses that accept bank transfers. “Thanks” to the law that restricts gambling in most regions. There are a few casinos with video poker and slot games that can give you such an opportunity.
In our short informative article, you will learn more about this payment service with its pros and cons. Additionally, you will get a list of the available platforms for gambling purposes that can accept it and figure out how to make a deposit and cash out the winnings from these gambling establishments.
How to make a deposit using Bank Transfer?
The procedure of charging your casino account with the needed amount of money is a piece of cake and takes a few minutes of your time. At the very beginning of this process, you need to find a reliable online gambling establishment that accepts bank transfers. As a rule, a bank transfer is not the most preferred option among online casinos in terms of depositing. So, it would help if you put some effort into finding this gambling place.
When you have handled this issue, you must register there or login into the existing casino profile.
In most cases, after signing in, the Bank Transfer casino will send you a notification with a message to top up your balance. Otherwise, you can find the Deposit section somewhere at the top of the casino’s website.
By clicking on this section, you will be redirected to a new page, where the list with all available funding methods is located. Among this variety, your goal is to find and select Bank Transfer (sometimes, it can be called Wire Transfer).
Your next move requires you to give the depositing sum. Please take into account that any Bank Transfer casino has restrictions in terms of their depositing minimums. Usually, it is 1,000 Indian Rupees, but this sum can be more extensive. The gambling operator will ask you to enter your banking details to transfer your money to the right place during this stage.
Then, you need to carry out a security check. Putting this in simple words, you will have a unique code via your online banking app or SMS to confirm the transaction.
The obstacle here is the processing speed of the depositing operation – it may take from 1 day and up to 5 business days. But this method has plenty of advantages that may change your mind and give preference to bank transfer.
What are the main advantages of Bank Transfer?
To compensate for the crazy awaiting time of depositing, the bank transfer options obtain the highest level of security. That is why the depositing process takes such a long time to be complete. So, the safeness is the greatest benefit of this payment solution.
Knowing about the highest security level, it is worth highlighting that you can process incredibly huge sums compared to credit cards or digital wallets.
Additionally, you do not need a bank account to top up your casino balance. The only required things are IBAN and BIC. Thus, this moment can give you a shot at being incognito.
One more advantage of bank transfer lies in the simplicity of the payment process because everything is clear and intuitively understandable.
Summarizing all the benefits of bank transfer, there are four major points:
- The most secure payment options are available.
- Possibility to transfer a huge amount of money.
- Anonymity.
- The simplicity of making any financial operation.
What do you need to pay attention to while using Bank Transfer?
For sure, it is great to know that bank transfer is the safest possible payment solution in the world in terms of money transfer, but you need to consider a few more aspects before making your proper choice.
As it obtains the highest level of security, this advantage will cost you an additional fee. The higher the sum you are dealing with, the higher fee you need to pay. The size of the fee also depends on the chosen bank.
As mentioned above, many online gambling establishments propose bank transfers for cashing out purposes only. So, pay close attention to the possibility of depositing and withdrawing.
Gambling in India is forbidden to some extent (horse ride betting is a legal activity), and you need to make sure that your local law allows you to directly transfer your monetary funds to a Bank Transfer online casino. Otherwise, you will be in big trouble.
And the last but not least crucial moment to consider is the minimum and maximum sums for handling a deposit and withdrawal. As a result, some online casinos usually put specific restrictions in this regard, and for bank transfer, these restrictions are way higher than other payment methods like Google Pay, PhonePe, PayTM, etc. If the minimum depositing sum can be 1,000 Indian Rupees for digital wallets, the same sum can be 8,000 or 10,000 Indian Rupees.
So, it will be helpful to consider all these points before you use this payment solution.
How to withdraw your winnings from a Bank Transfer casino?
As we told you about the unequal opportunities of depositing and withdrawing at the beginning of the article, the bank transfer option is commonly used for cashing out money from online casinos. The easiest way to do it is as follow:
- Sign-in into your casino account or betting website;
- Go to a Cashier or Withdraw section, which is located at the top of the casino’s main page;
- Select Bank Transfer (in most cases, this payment system is at the bottom of the list);
- Type the withdrawal sum (at least the minimum possible one);
- Provide the Bank Transfer casino with bank details;
- Confirm the operation.
After doing these steps, you need to wait until the casino representatives approve the transaction. Usually, the pending time can last up to 48 hours. But this time is half of the problem because banks process the withdrawing process even longer. It may take from 1 to 7 business days. So, make sure that you are friendly with these rules and have so much time to wait.
How to create an account to process a Bank Transfer?
If you want to send your money using this payment solution, it is necessary to have a bank account first. The most convenient way to make this happen is to go through several simple steps.
First step. Make sure that you know what bank you want to use.
Second step. Go to the official website of the chosen bank to start the procedure of creating a new bank account.
Third step. Click on the “Create a New Account” button there and fill in the required lines, which include your personal information.
Fourth step. You will receive an agreement with the bank that will be needed to be signed up.
Fifth step. Send this agreement back and wait for your login details (login name, password, PIN code, etc.).
After going through these steps and reaching success, you will be able to fund your bank account to make further payments.
Verification of your Bank Transfer online casino account
There is no single online gambling platform that can approve and process withdrawals without verifying your identity. Bear in mind that this is a one-time process, and you do not need to deal with it again and again.
When you are in the stage of withdrawing your cash prizes, especially when it touches on huge sums, a casino representative will ask you to send some of your official documents that confirm your personality. You can send a copy of either your passport, residential ID, or driving license.
In a frame of 48 hours, you will get a response from the casino representative with a positive or negative answer. Generally, you will get an affirmative response when you send your actual and legit copy. And after that, you can withdraw your winnings so easily.
Privacy and confidentiality
In terms of privacy and confidentiality, it is getting challenging to find a better and more effective way to make a payment to or from your casino account. Bank transfer or wire transfer does not play a role of a bridge between your bank account and casino. It processes the direct transfer of your money from there to here, which gives this method more credibility points.
Furthermore, the bank transfer is the safest possible way to process any financial operation, including topping up your casino account or transferring your well-deserved cash prizes back to your bank account. Thanks to the implementation of the latest security measures and extra layers of protection (a 2 or 3-step verification process), all the transactions are safe and protected.
And the usage of the 248-bit encryption technology allows neither the bank nor online casino to use your banking information for their own purposes.
About Bank Transfer
Bank Transfer, aka Wire Transfer, is the oldest and the securest payment solution that allows users to send money from point A to point B without any difficulties. The transfer works globally, and it is possible for you to top up your gambling account or cash out the winnings from any Bank Transfer online casino. But pay attention to the law because most citizens of India cannot use this payment system due to local regulation.
