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Bank Transfers at Online Casinos
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When you sign up with an online casino you will be allowed to deposit and withdraw real money. There are several ways to do this including using a credit or debit card, or with a digital wallet. At some online casinos you can even use cryptocurrency to gamble. Almost all online casinos will also allow you to make deposits and withdrawals to a bank account in your name.
You may be shaking your head, thinking that there is no way you would reveal your personal banking information to an online casino. Reconsider, because a bank transfer may be the best and safest way to gamble online.
Understanding Wire Transfers
Bank transfers for online purchases and even for casino gambling are nothing new. They have been around for years. Today you can even use a bank account to make purchases at Amazon and other major online retailers.
These types of transfers involve you sending or receiving money to a bank account in your name. You initiate the transfer which is then verified by your bank and the casino. If you are making a deposit, the funds will be removed from your bank account and deposited in your casino account. If you are making a withdrawal, the money is removed from your casino account and sent to your bank.
The time it takes to process these types of bank transfers can vary from casino to casino. There are some options now which allow a deposit to be received almost instantly when you use a debit card that is linked to your bank. In most cases you can expect bank transfers to post within 24-48 hours.
Once you have established a good reputation with an online casino, the casino may give you access to your wagering funds early. This is always done at the discretion of the online casino.
Rules for Gambling With Bank Transfers
Each online casino establishes its own procedures for making deposits and withdrawals with a bank account. You should always check the terms and conditions of the casino before you attempt to use this method.
The main rule that you are likely to encounter is that the bank account to which you are receiving money needs to be in your name. You will probably be asked to verify your identity as a part of the sign up process at the casino. Don’t try to make transfers to and from another person’s bank account.
There are some banks in the world which prohibit the use of a bank account for online gambling. You should check with your bank to make sure it will complete any transactions that are initiated by an online casino.
When a transaction fails it is usually because you do not have the necessary funds in your bank account to cover the transfer. In this case, you will be notified by the online casino that the payment you initiated was reversed. Doing this once will probably not cause too many problems. If you do it over and over again, you could be restricted from making deposits with a bank account.
The Process of Getting Money From Your Bank To and From the Casino
There was a time when making an electronic bank transfer could take a long time, sometimes as much as a week. Technology has improved, and now the transfer process is much quicker. Here’s a step-by-step look at how this money is moved.
You begin by going to your online casino’s cashier screen. When you reach this screen you will navigate to the area where you can make a deposit. You will have probably already saved your bank account information, but if not you will be asked to enter it. The information you will need are the account number and the routing number of your financial institution.
Both of these numbers are unique. The routing number is a unique number that identifies your bank. The account number is a unique number that identifies your bank account. You should always take care to protect this combination of numbers.
Once you have made sure the information is correct you will enter the amount of money that you want to deposit or to withdraw. The bank transfer will then be sent and completed electronically.
The Pros of Using Bank Transfers
There are some definite advantages to using bank transfers for online casino gambling. First and foremost of these is security on multiple levels. Your bank probably insures your funds up to a certain amount. Keeping the money in a bank can be a good form of protection.
Online casinos that are reputable use a secured and encrypted platform that is designed to keep your payment information safe. We recommend that you read the Casino Max review, Miami Club casino review , High Country casino review, or Roaring 21 review to name a few. There are relatively few examples of hackers being able to gain banking data from an online casino. The reason for this is pretty simple. If online casinos had a reputation for being hacked they would not be in business for very long.
With a bank transfer you may also be able to achieve a higher limit for your deposits and withdrawals. Some online casinos feel more comfortable giving the highest limits to individuals who use a bank account.
There is also the case of keeping track of your winnings. You may find that this is easier when you have everything running through your bank account.
The Cons of Using Bank Transfers
There are, of course, a few downsides when you are using a bank transfer for online gambling. One of these is that you sacrifice your anonymity when you use a bank. The bank has to be linked to you and verified.
Another negative is the time of transfers. While this has gotten better, it is still not instant. This means that it will take some time for your money to hit the online casino. At least 24 hours is common. There are other types of payment methods that can be deposited instantly to your account.
Why Some Online Gamblers Only Deposit This Way
It is true that there are some online gamblers who only want to make deposits with a bank transfer. They feel more comfortable with the security, and they also believe it is easier to keep records for tax purposes.
Some online gamblers also feel like bank transfers speak of the legitimacy of the online casino and also offer some general protection. If there is a problem with the transfer the player can always make a complaint with their bank. There may even be a chance of getting the money back.
If you are in the mood to play blackjack for money to win real money, do so at a reputable casino like the ones we list. If you are in the U.S. read our article about casinos accepting US Players for real money.
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