A wire transfer, also known as bank transfer, is a method of electronic funds transfer from one person or bank account to another, either within a single financial institution or across multiple financial institutions.
Though a more traditional transfer system than newer, headline-grabbing options such as Bitcoin, some still prefer the good old tried and tested method.
Why use wire transfer?
It is a common payment method for players new to online gambling. This is mostly because of security reasons. When you’re a new user of a gambling website, people are usually less inclined to the idea of disclosing their personal and financial account information. This makes wire transfer one of the primary go-to payment method because there is no need to give out personal details, giving you greater privacy and security.
Besides being a popular method among newcomers, it is also preferred by High-Rollers. This is because of another reason why this payment method is used by many; transfer limit. While other forms of payments usually have a lower maximum deposit limit, the same is not true for wire transfer.
The only real limit to this form of deposit is the amount of money you have in your bank account. So no matter how much you wish to deposit at once, as long as you have the necessary funds, the deposit will be processed safely and securely. However, one thing to note is that the larger transfer limits are usually reserved for returning customers only, as online gambling establishments rather not risk dealing with any potential problem gamblers that are gambling beyond their means.
No credit card? No problem. This is yet another reason why some players choose to make deposits via wire transfer as a credit card is not required.
Top Rated Wire Transfer Poker Sites
Which online gambling sites accept wire transfer?
Wire transfers are both safe and efficient, due to the fact that most, if not all transactions are always approved. For this reason all online gambling sites accepts this form of deposit, and also allows you to use the same method for withdrawals.
What are the drawbacks for using this method?
The most obvious one is time. Deposits and withdrawals made using this method usually take a good few days, and sometimes even up to a week to get processed. So this method is not for those looking to jump right in to the action. But since this is a popular method for Big Timers, it goes to show that a little patience can go a long way.
Another drawback is the fees, which can be between $10-40 per transaction. This might seem like a lot if you’re only making small deposits, but when you’re PREMIUM player making BIG TIME deposit amounts, the relatively small transaction fees actually works in your favor.
How to make a wire transfer deposit
Making a deposit with wire transfer is very easy. Just go to the cashier section on your online gambling website, locate the deposit options page, select wire transfer, then write down all the details of the operator has provided you with on the screen. These usually include account number, IBAN, SWIFT code, company address and bank address. Once you have made a note of all these details, head on over to your local bank and tell them you would like to make a wire transfer to this account, providing them with all operator’s details that you had written down. At this point, you can sometimes choose to pay the fees in cash, or have those taken out of your account also. Once all this is completed, you can expect to see the funds in your online gambling account within a few working days.
One thing to note, as you have decided to use wire transfer as your deposit method, most online gambling sites will therefore preferred it if you use the same method for withdrawals. But just like the processing time for deposits, withdrawals also take several days to reach your bank account.
How to make a wire transfer withdrawal
Much like making a deposit, to make a withdrawal, simply go to the cashier section and choose wire transfer under the withdrawal options. This time, enter your bank account details and the amount you want to withdraw. Once completed, the funds should reach your bank account in a few working days.