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For the longest time, bank transfers have been a preferred way to deposit and withdraw funds at many bookmakers. In this guide, we provide you with a comprehensive list of the top bank transfer betting sites in the business. We also offer opinions on the following:
- Description of how bank transfers works
- Steps on how to deposit and withdraw using your bank
- Convenience and security in using this payment option
About Bank Transfer
A bank transfer refers to a process of electronically transferring money from one person to another entity, like a sportsbook. It’s also known as a wire transfer where a customer authorizes the transfer of funds from one bank account to the sportsbook account. The first transaction that involves a wire transfer was launched in 1872 by Western Union using its telegraph network. Once the money was paid to the telegraph office, the operator then transmitted a message and ‘wired’ the funds to another office using a designated password and codebooks to allow the release of the funds to a specific person in a set location. This has become a popular way of transferring funds and by 1877, more than $2.5 million was wired every year. Today, a bank transfer is used for a variety of purposes, including sportsbooks, deposits, and withdrawal transactions.
How to Bet With Bank Transfer on Betting Sites
To experience bank transfer sportsbook betting, we recommend that you check out our recommended list of bank transfer betting sites. Click on a sportsbook from our list and complete the registration process. Most sportsbooks require the submission of your complete name, address, mobile number, and preferred currency. After verifying your account, you can start to deposit through bank transfer.
How to Deposit on Betting Sites With Bank Transfer
Compared to other payment options, your transactions with a bank transfer require several steps and verification procedures. Once your player account has been activated, you can log in to your account and go to the ‘Cashier’ page and choose ‘Deposit’. On most bank transfer betting sites, you will notice the Bank Wire Transfer logo you need to select. Your ‘Payee’ details displayed need to correspond to your bank information which are required to complete the fund transfer. Once you have recorded all details and verified the amount, click ‘Submit’ to approve your transaction. The bank transfer sports betting site will create a unique bank transaction ID that you can use to track its status. This is important information since most bank transfer betting sites require 1 to 5 days before the deposit is credited to the account. If you need to follow up on its status, you can check it out with customer support by using your unique bank transaction code.
How to Withdraw on Betting Sites With Bank Transfer
When you’re ready to withdraw your funds, go to the ‘Payment’ or ‘Cashier’ section to start the transaction. Choose ‘Withdrawal’ from the list of options available and follow the instructions. If it’s your first time to complete a sports betting bank transfer, you may need to submit your personal and banking information. For example, you may need to provide your bank details, account type, and account number. Just click ‘Withdraw’ to approve your transaction.
With most bank transfer sports betting sites, the standard waiting time for requests range from 1 to 5 working days. Some sites take up to 10 days to process payments. Furthermore, if you’re requesting your funds through bank transfer for the first time, the waiting time is longer. As part of the bookmakers ‘Know Your Customer’ policy, the cashier will require documents that can establish the authenticity of the request. It’s a one-time requirement to help protect everyone from fraud.
Are Bookmakers That Use Bank Transfer Safe?
Which betting sites accept Bank Transfer?
You are unlikely to encounter a problem when searching for sportsbooks that accept bank transfers. Almost all top-tier bookmakers support this payment method. Check out our list to find the best and most trusted bookmakers.
How do I use Bank Transfer on betting sites?
To use this payment method, simply login to your account and choose ‘Bank Transfer’ from the options presented. You need to supply and verify your banking details before you can complete your online bank transfer betting transaction.
Why should I use Bank Transfer on betting sites?
Bank transfer is a common payment option and available to almost all sports and casino players. Compared to some payment methods with regional restrictions, most countries provide options for bank transfers in licensed sportsbooks and casinos. Also, our recommended bank transfer betting sites are secure and private thanks to the encryption technologies used by the sites.
What are the best betting sites for Bank Transfer?
Almost all sportsbooks today accept this payment method. For the best betting sites that allow bank wire, check out our list of bookmakers that have been tested and verified by our team experts.
Bank transfer or wire transfer is a standard payment option that you can find at many casinos and bookmakers. There are several reasons why it’s a popular option in the iGaming industry. Two of the leading reasons for its popularity are availability and security. Some of the best-rated sportsbooks accept bank transfers for both deposits and withdrawals. Also, bank wire offers a safe and convenient way of completing payments. Thanks to the use of the site’s firewall and bank encryption technology, players can rely on a private way to transfer funds and the level of security and authentication offered to players depends on the operator. The only drawback with the free bank transfer betting option is the waiting time that can take up to 10 days. But if security and reliability matters, you can’t go wrong with our recommended bank transfer betting sites.