Every online betting experience runs smoother with fast deposit methods, speedy withdrawal processes, and hassle-free payments, which is why bank transfers are the best banking options. Read on as we discover the best bank transfer betting sites on the market.
Our experts here at betting.net love that bank transfers are safe, secure, and have an excellent reputation. They may take slightly longer than other payment methods, but we’d rather be safe than sorry.
Step by step guide for bookmakers that accept bank transfer – how to take advantage of bank transfers
Online betting bank transfer is actually much more straightforward than you might think. Most people are capable of doing a bank transfer, and most betting sites accept them, meaning the whole process should be quick, simple, and incredibly easy.
Here’s how you make a bank transfer payment with most bank transfer betting sites:
Step 1: Select a bank transfer bookies that appeals to you. Click through to create an account.
Step 2: Make sure that you have internet banking. If you don’t, visit your bank’s website and apply for one.
Step 3: Make sure that you have all the funds you need in the bank account you want to use to make a bank transfer to your chosen bank transfer betting sites. If the funds are in another bank account, transfer them over to the bank account you want to use. Make sure you have enough funds too.
Step 4: Once all of this is sorted out, head back on over to your bank transfer bookies, select ‘bank transfer’ as your preferred payment method, and follow the bookie’s standard deposit/withdrawal procedure.
Step 5: Enjoy safe, secure, and reliable deposits and withdrawals, depending on your chosen bank transfer bookies’ individual terms.
Average time of bank transfer for deposits and payouts – disappointing time limits for bank transfers
One of the only downsides of using bank transfer is the fact that it isn’t the fastest way to deposit and withdraw money from your chosen bank transfer betting sites. Though it’s definitely one of the most secure and reliable, it can sometimes take up to 5 working days for funds to be deposited and withdrawn from your account.
Depositing and withdrawing with some bank transfer betting sites may take up to 1-3 days, whilst others may take up to 3-5 days. These days do not include weekends, so if you request a withdrawal via bank transfer on a Thursday, it may not reach your account until the middle of the next week. Weekends do not count towards the overall time period that it’ll take your funds to either leave or enter your bank account, unfortunately.
If this doesn’t tick the boxes you’re looking for, we recommend you check out our review on pay by mobile betting sites, where payments are instantaneous as well as secure!
We believe, however, that the time it takes for you to complete your bank transfer is a small sacrifice to make considering how reliable and secure bank transfers actually are.
Bank transfer verification requirements – what you need to start bank transfers
One of the big advantages of sports betting bank transfer payment methods is how quick, secure, and easy it is to set up an online bank account. You can set an account up in a matter of minutes by going to the website of your bank. You will need to have proof of identity to show your bank account that you’re really you. You will either need:
A driving licence
A National Identity card
You will also need one or two documents as proof of address. This could be a recent utility bill, rental contract, or a benefits/state pension letter issued within the past 12 months. It will take between 7-10 days for your online bank account to open. Once it has been activated, you can then start paying in the necessary funds needed to make a deposit to your bank transfer bookies.
The history of bank transfers – over 100 years old and still going strong
As you may well know, it isn’t just the one bank that offers its customers the bank transfer facility. There are thousands of banks all over the world who offer it.
Bank transfers are also known as wire transfers, especially in America. This name derives from how requests for money used to be sent via the telegraph network from one office to the other. When this method of payment was first used, back in 1872, the operators would use codebooks and passwords to authorise the release of funds from one account to another. Western Union, a well-known name in the financial world, was the first company to send money via a telegram.
There used to be a fee that was charged for people to use the service, and bank transferring soon became a popular way to ‘wire’ money to people who were geographically far away from the sender.
Computers have become the heartbeat of banking, the wire transfer was able to become electronic, morphing into the online bank transfer we know today.
As most people started to use electronic bank transfers, there was pressure to make these payments even faster. In 2008 the FPS (Faster Payment Service) was launched. This was a system that could immediately transfer money from one bank account to another.
Bank transfers in comparison to other payment methods – what are the highlights of bank transfers?
There are several reasons as to why bank transfers are still many bettors’ preferred payment method. Bank transfers are accepted in the majority of gambling operator sites from all over the world. One of the many highlights of bank transfers is the fact that you don’t need to share any debit or credit card information.
Another highlight of bank transfers is that you don’t have to use any vouchers or enter any PIN codes, like you do with a Paysafecard, and you don’t have to clock up a few transactions before you can use your account freely, like you have to do with a PayPal account.
What’s more, bank transfers are incredibly secure and reliable, and you know for a fact that your bank details and personal information is going to be kept safe.
However, unlike some payment methods, sometimes bank transfers aren’t the fastest way of depositing and withdrawing money. E-wallets, PayPal, and other payment methods can be faster, and some can even be instantaneous.
Most popular payment methods – bank transfer sports betting and other options
Many people worry whether the payment method they are using when depositing and withdrawing funds to and from an online gambling platform is safe and secure, but they seriously don’t need to worry when it comes to bank transfers. We can confirm that bank transfers are one of the most secure and reliable payment methods out there.
E-wallets, such as Neteller, Skrill, and PayPal are also very secure, and have excellent reputations in the financial and gambling sectors. These e-wallets use multiple layers of security that you may not see elsewhere, such as SSL encryption technology and two-step authentication. Venmo betting sites are also known to be very secure and have anti-fraud departments that ensure your details stay safe.
Every time our experts here at Betting.net review any new betting operators or payment methods, we carry out a series of comprehensive tests to guarantee safety, security, and legitimacy. Rest assured that we will be the first to point out whether a payment method or betting operator can’t be trusted or isn’t secure enough. Be sure to check out our reviews and rankings to learn more.
Bank Transfer FAQ
Which bookmakers that accept bank transfers are best?
There is a huge number of bookmakers that accept bank transfers all around the world. All the bookmakers listed in our Bank transfer betting site comparison accept bank transfers and are 100% trustworthy and approved by our experts here at Betting.net. It’s important that you remember to check the T&Cs of the operators you use in case they have any issues with you using bank transfers as your preferred payment methods. As always, choosing the right gambling operator for you should be a personal decision.
Are there any charges for using bank transfers?
Bank transfers are usually free, so no, there won’t usually be any bank transfer fees that you will have to pay to transfer and withdraw money from your bank account. It is, however, always worth checking the T&Cs of the gambling operator site that you’re using to check that this is 100% the case.
Are bank transfers illegal anywhere?
No. Bank transfers are a perfectly legal, safe, and secure way to transfer money from your account, into another. If you are based in the US and are using a UK based gambling operator, it is not illegal for you to use bank transfer to transfer funds from your account to the operator.
Can I use more than one bank account to bank transfer money to betting sites?
Yes, you can. Many people seem to think that you can only have one bank account open at any given time, however this isn’t the case. You can have multiple current accounts with various different banks open if you wish. This should not affect your credit score. You may use different bank accounts to bank transfer funds to and from online gambling operators.
My bank transfers aren’t going through. Why is this?
There could be a multitude of reasons as to why your bank transfers aren’t going through. One possible reason is that perhaps you do not have enough money in your account. If this is the case, then you will need to add funds to your account before depositing any more money via bank transfer. Another reason could be that you haven’t input the correct bank details. If this is the case, it’s important that you go back and check that you have put in the correct details. If the problems persist, it is worth contacting the operator or your bank.
Legality and safety of using bank transfers
As we’ve previously established, performing a bank transfer to pay for goods, services, or even just to fund your gambling, is one of the safest and most secure ways to pay. This is emphasised by the fact that organisations and banks have been using bank transfers for over a hundred and fifty years now.
Banks, as you may well know, have the most sophisticated fraud detection systems available, and every single transaction is encrypted so as to ensure your details are safe from those who may wish to cause trouble.
Your bank transfer bookies will never have access to your account while you use your banks internet banking platform to fund your account when using your chosen bank transfer betting site.
You won’t ever have to disclose your sensitive financial information to your chosen bank transfer bookies either. This means that in the event your chosen bank transfer betting sites do experience a data breach, they won’t have your financial data on the system to be taken advantage of.
Conclusion – bank transfers are safe, secure, and reliable
An online gambling experience with bank transfer betting sites will always be safe and secure, and hassle-free. You should now have a clear idea on how to set up an online bank account, as well as how to use it to add to your betting funds on your chosen bank transfer bookies.
You won’t have to pay any additional fees when taking advantage of this payment method, and you won’t have to worry about any of your sensitive banking details getting out or being compromised. Bank transfers are safe, secure, and can always be 100% trusted.
Though they may not be the fastest method of depositing or withdrawing funds, the fact that they are so safe, secure, and have such an excellent reputation worldwide. We really can’t recommend this payment method enough for your gambling travels.
If, however, for some reason, you’d prefer to take advantage of a different payment method, you may want to check out our review on some of the other online betting payment methods out there. You’ll be sure to find a payment method that suits you down to the ground there.
Many bookmakers accept bank transfers, but some are better operators than others. It is always important that you find a bookmaker that you know is reputable, safe, and secure, who accepts the bank transfer payment method. There are many payment methods that are only accepted in limited places, such as American Express betting sites. We have plenty of reviews of bookmakers on the betting.net site that accept bank transfers as a payment method. Check them out to find the bookmaker who will suit you best.
Here at Betting.net we give you the breakdown on how to go about creating an online bank account so that you can start making bank transfers, step by step. We make the whole process that much easier so that you can start making bank transfers quicker. There are a few steps to keep in mind, so its well worth reading our review on bank transfers to make sure you do everything correctly.
Let’s be honest, no-one likes paying any additional fees on any payment that they make, be it bank transfer or otherwise. However, additional fees aren’t always required. Our review on bank transfers looks at whether you will be required to pay any additional fees next time you make a transfer via your bank account or not.
Bank transfers have been around since the late 19th century, and online bank transfers have been around for decades. Many major financial corporations use bank transfers to move their money from one place to another. Our review on bank transfers takes an in-depth look at whether or not bank transfers are safe and can be trusted. We recommend you giving it a read so as to see whether you can trust bank transfers to fund your betting or not.
Each payment method will take a different amount of time to reach your account or the bank transfer betting site that you are using. Some payment methods, like those offered by a paysafecard sportsbook, may be instantaneous, whilst others may take up to a few days. Our review on bank transfers takes a look at how long a bank transfer will take to complete, as well as how long you can expect to wait for funds to reach your account.