Wire Transfer

WRITTEN BY Adam

LAST UPDATED / 13 August 2018

A wire transfer is also commonly referred to as a bank transfer. This payment method is by far the oldest and most well-known electronic payment option. This banking option sends available funds directly from your bank account to the bank details entered, which could include businesses, other account holders with the bank or with other banks, and online casinos. The option is easy to use, and one of the most secure as no details are exchanged between the sender and recipient. There are only a few options with this deposit method, but it’s easy to use and available with most banks worldwide of which some include apps, meaning transactions can be made on the move with a mobile device. The information below includes everything users need to know to made deposits with online casinos.

How to Make a Wire Transfer Deposit with a Casino

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Depending on where you are and what casino the funds are sent to, you will need all your banking details, such as your account number, account holder details, and possibly the SWIFT or routing code for the particular bank. SWIFT codes are used for most banks internationally while a routing number is mostly applied in the USA. These codes or numbers can be seen as the bank’s identity number. Each bank has a unique number, which tells the casino’s bank where the player account is. Your personal details and account number will indicate what account needs to be debited.

Some casinos and online services still use the older method, which offers the banking details of the casino or service. Users are then required to log into their bank accounts, enter the details, and approve the payment. However, this is mostly only used with casinos that cater to a particular country as no route numbers or SHIFT codes are used. The downside of this older method is that funds do not clear immediately, and users need to send the casino proof of payment before the funds will be manually added by the support team.

This usually means that the wire transfer will take anywhere up to 3 days. It’s standardized across all casinos to be like this, because that’s the typical amount of time casinos need to process all the information. So don’t panic if you don’t immediately see your money appear in your casino account, or your casino money in your bank account. Leave up to three days, and then contact the casino if still nothing has come through.

Where to make a Bank Wire Deposit?

Credit Card Payment Option - Online Casinos

Money BagThere are actually very few casinos that don’t offer a wire transfer/bank wire option. The option can be accessed on the banking page of any casino, which will include all the information they require to complete the transaction. These operations take place instantly should enough funds be available in your account and the current information is provided.

Even if you do not see this option listed under a casino’s payment methods – don’t automatically assume it’s not on offer. Often times all you need to do is contact the casino and make the arrangements yourself, as it is assumed that bank transfers are obviously allowed. You may need to provide some more information regarding yourself to assure that casino everything is legitimate – but otherwise you’re good to go. Make sure to also inquire regarding currency exchange rates. While these are usually delineated in the casino’s general terms and conditions and are very straightforward, not every casino is hospitable to the dollar. Always cover your bases before transferring your money, in case you incur some kind of tax rate.

Are Wire Transfer Deposits Safe?

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Making a deposit to a respected and secure online casino with bank transfers is one of the safest methods available. Both the casino and bank includes some of the highest security software that not only ensures your information is kept safe, but that the transaction also takes place with no errors. This is a safe method as it’s very unlikely that the wrong information will be accepted. For example, should the account number be typed in wrong or the name misspelled, the bank will not be able to confirm the account, in which case the transaction will be declined.

In the highly unlikely event of the funds being transferred to the wrong account, it would be in error of the bank for not having a system that cross-references account details. Some banks, such as those offering the VISA services, have included additional security measures for online transactions, which sends an OTP (One Time Pin) to the registered mobile number that will be required before the transaction is processed.

The only risk involved with this type of transaction occurs with Spy-Software, which your anti-virus will avoid at all times. This software allows hackers to see what you are doing, or they keep track of your keystrokes, which could provide them with your banking details. However, even with these details, they will not have the ability to use your funds as the OTP verification is required. For users who are worried about this risk, an additional account will only take a few second to open with your bank. Should the additional account information be accessed by hackers, they will only have unlikely access to the funds in that account. However, should this happen, once again the bank is liable as their security should have stopped unauthorized transactions.

Mobile Wire Transfers

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The same security features exist with mobile applications for banks around the world. In fact, it’s been proven that apps from respected banks are safer than their websites as mobile phones are a lot trickier to hack and gain personal information. Banks have also developed ways to keep as much as your details safe and will only require your password to enter your bank on your mobile device. This means even with spy software, your account username is kept safe. Transactions from the app will also require an OTP number, which is why it’s important always to keep your details up to date with your bank, especially mobile number changes.

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