Bank Wire Transfer Online Casinos

If we actually want to talk about the online casino payment system that could be used in every part of the world, then it is the Bank Wire Transfer system. This is because every nook and corner of the world has a bank, and this online casino payment system will only need banks to function. It is the safest of all of them, there are many types to choose from, and the money comes from and goes directly into the players’ bank account.

This payment method comes with different names. Some call it wire transfer; some brand it bank transfer, while others name it credit transfer. The fact remains that the first publicized wire transfer transactions were carried out by the Western Union system in 1872. It is the transfer of funds from one entity or person to another through their bank accounts. It could also be between a cash office and a bank account. There are many types of bank wire transfer systems, and they are offered by the operators depending on the cost, value, volume and finality of settlements of the transactions. When the Wire Transfer is done by the central banks of countries, they happen in form of real time gross settlements. This method ensures that the funds are made available within the shortest possible time. This is because the settlements are given on a real time irrevocable basis. But when the Bank Transfer is carried out through the Clearing House Interbank Payments System (CHIPS), which normally involves intermediary banks, the settlements come in a periodic manner. However, with the immediate payments system, the cost will be higher, the volume will be lower and they are mainly for monetary transactions that are time sensitive.

In the beginning, the process used to involve a telegraph office wiring the money it received in its office to another telegraph office where the receiver will be paid. During that period, code books and passwords were used to complete the transactions. However, things later improved, and the system recorded up to $2.5 million worth of transfers in 1877.

Bank Wire Transfer Online Casinos

The method was adopted for online casino payments when the casinos went online. When you want to choose it as a system for your online casino payments, you have to be careful to select a method that is authorized in your country because it comes in different variations. You should also consider the cost while choosing. It normally involves getting the SWIFT or IBAN code from the casino and presenting it to your bank. With it, the bank will make the transfer from your bank account to the casino’s bank account. However, these are not instant payments, because they may take up to 5 days to clear and reflect on your account. This depends on the bank and the country of origin of the transaction.

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Types of Casinos accepting Bank Wire Transfer

Casinos That Accept Bank Wire Transfer

The Bank Wire Transfer online casino payment system is available in every country in the world. So, you can say that every online casino has the capacity to use it. The only thing that can prevent a casino from making use of this is if casino games are prohibited in that country or the country bans the use of Wire Transfers. There are many Bank Wire Transfer casinos available for players to enjoy, and they include Bet365 Casino, NordicBet Casino, 188Bet Casino, 32 Red Casino, Adler Casino. All British Casino, BetAt Casino, BetFred Casino, Betsafe Casino, and Betsson Casino also use the system. Others casinos that use it are BitStarz Casino, Casino Cruise, Casino Room, CasinoEuro, Casumo and Cherry Casino, EmuCasino, EuroSlots, Free Spins Casino and InterCasino.

Advantages of Bank Wire Transfer Online Casinos

  • Absence of third party agents entails higher security
  • Could be used all over the world

Disadvantages of bank wire transfer online casinos

  • Not convenient to set up
  • Very time consuming system
  • Involves huge transaction fees or charges

Bank Wire Transfer Types

There are many types of Bank Wire Transfer online casinos. As usual, you can get them in the mobile casinos where games could be enjoyed on the go with the Bank Wire Transfer payment methods. There are also some desktop casino games that accept the transfer payment method. Some of the live dealer casinos also accept the method for players that want to view the dealer and fellow players as the games happen.

Depending on the types of cards used, there are four major Bank Wire Transfer online casino types. The first set is the ACH transfers or the automatic clearinghouse. It involves the trading of smaller amounts of money between two parties through some electronic checks. The next is the wire transfer system where money is sent from one bank to the other. Here it means transferring the money directly from your bank account to the online casinos’ bank account. It usually involves huge sums of money. The next is the international wire transfer where money is sent from a bank in one country to a bank in another through SWIFT, BC or IBAN. The last is the commercial money transfer system where institutions outside the banks use their own asset stores to back the transfer they make from one point to the other. After this, the agents are paid back with funds from their assets.

Countries Where Bank Wire Transfer Operates

The fact remains that the Bank Wire Transfer system is a global system. It does not use the bank as a third party; instead, it is actually a method of transfer from one bank to the other. The meaning of this is that it works in every country where you can find banks, and that entails that it works in all the countries in the world. Countries like the United Kingdom, Canada, Australia, New Zeeland, Germany, and Denmark, Portugal, Greece, Serbia, Holland, Ireland, Scotland and many others, accept it for both online casino payments and other transactions. It is easily verifiable, so, people cannot easily commit fraud through it. But the system is prohibited in the United States for online casino payments.

F.A.Q.

  • Is Bank Wire Transfer safe, and why?

    Yes, the bank wire transfer payment system is safe because the banks use the SWIFT and IBAN codes to process it.

  • Can Someone Track and Identify my Bank Wire Transfer Deposits?

    It is difficult for someone to track your identity because the payment information remains between your bank and the casino.

  • Do All Casinos Accept the Bank Wire Transfer?

    No, it is not all the casinos that accept the bank wire transfer system

  • Are There Any Fees Charged by Bank Wire Transfer?

    Yes, the bank wire transfer system comes with some fees

  • Are Bank Wire Transfer Deposits Instant?

    No, the bank wire transfer online casino payment system takes days to clear

  • Can I use the Bank Wire Transfer for Depositing in UK and Canada?

    Yes, the system works in the UK and Canada

  • Can I Use Bank Wire Transfer in Mobile Casinos?

    Yes, there are many bank wire transfer mobile casinos