Bank Transfer/Bank Wire
Bank transfers or wire transfers are the safest and most reliable methods for depositing money into an online casino account. All that is needed in most cases is a bank account with a balance sufficient to carry out the transaction. The money usually becomes available for use in the online casino within a few days after making the transaction, although there is also the option to send it via “instant” bank transfer, in which case the money is available instantly.
Overview
Wire transfers are actually a form of electronic funds transfer, although there is no e-wallet or other third party service involved. The transaction is essentially between your bank–which sends the money in your name–and the casino, which receives the money from your bank. At no stage in the process is your personal or financial data divulged to the casino or to any other party, expect for the information necessary to receive your funds.
Because the transaction takes place solely between bank and casino, there is virtually no risk of data or identity theft, or the risk of losing your money. Bank transfers typically cost more than e-wallet fund deposits, but the added measure of security and the near-absolute anonymity makes them worth considering.
Using Bank Transfer/Bank wire in South Africa
If you wish to make a bank wire transfer from a South African bank into an online casino account, you can do so by:
- Visiting your local bank branch and arranging a bank transfer in person
- Phoning in your bank transfer request
- Performing a bank transfer online
In most cases, there will be a fee for such transactions. This will be deducted from your account in addition to the amount you wish to transfer, so the receiving casino will receive the full amount you specify.
With standard bank transfers, the money will be available in your online casino account within a few days. You may also opt for an instant wire transfer, in which case the funds will be available instantly. This type of transaction usually entails higher fees, but you do get the benefit of being able to play in the casino right away.
How to Fund Your Bank Transfer/Bank wire Account
Funding a bank transfer is as simple as ensuring that you have sufficient funds in your account to cover the full amount of your planned deposit. Keep in mind that most banks will charge a fee for transactions denied due to insufficient funds.
In addition, most banks will charge a nominal fee for bank transfers, with transfers to overseas casinos entailing higher fees. You also have to be aware of fees that some casinos may charge for deposits made into accounts via bank transfer.
How to Deposit Using Bank Transfer/Bank wire
Depositing money into an online casino account via brank transfer is usually a simple and straightforward process, particularly if you do it online via electronic funds transfer.
The steps involved are as follows:
- Log in to your casino account.
- Browse to the cashier banking page.
- Select “bank transfer”
- Enter your account details and routing number.
- Choose the South African bank from which the funds should be drawn.
- Wait for the reference number.
Make sure to save the reference number that the casino will provide you. Along with the receipt acknowledging your deposit, you will need this in the event of any dispute regarding the deposit you have made.
How to Withdraw Using Bank Transfer/Bank wire
Withdrawing funds from an online casino account via bank transfer isn’t really the most feasible option, as you will likely be charged a processing fee by the receiving bank.
If you have no other option however, and you wish to go ahead, the process is as follows:
- Go to the “cash out” page of the casino.
- Choose “bank transfer” as the withdrawal option.
- Select the receiving bank from the list of available options.
- Specify the amount that you wish to withdraw.
- Wait for withdrawal confirmation.
As with making bank transfer deposits, it is important to hold on to all confirmation messages, transaction numbers, and all other communications pertaining to your withdrawal. This helps provide a measure of safety for you if a dispute arises with regard to your withdrawal.
The good news is that bank transfer withdrawals is usually a totally safe process, and you should have the money in your bank account in a few days.
Bank Transfer/Bank wire Costs and Timing
When making “instant” bank transfers into an online casino account, the funds will be available in your casino account instantly. If you opt for a standard bank transfer, the funds will be available after three days.
Most banks will not charge you anything for standard deposit transactions, but some banks may charge a nominal administration fee for instant bank transfers. There are usually no added fees charged for deposits made in Rands into an online casino account originating from South African banks.
If you wish to withdraw your winnings from an online casino via bank transfer, you will likely be charged a fee by your bank. In addition, it could take a few days before the money becomes available in your bank account.