Bank Transfer Betting Sites 2022 - Our Top 10 Bank Transfer Sportsbooks & Why You Should Use Them!
Best Bank Transfer Bookies
Last Updated on 09/23/2022
Fact checked by: Mike Goodpaster
Here’s an online casino fact of life — bank transfer betting sites remain one of the most popular types of operators among gamblers. The security of transferring money directly to and from your primary financial institution provides peace of mind.
This may be surprising as there are so many new ways to pay, and that’s why we decided to give the old bank transfer a thorough review. We think it’s fair for all our readers to know why this older deposit method remains so popular and how to use it to your advantage at your favorite sportsbook or casino.
You may be surprised to find out that betting sites that accept bank transfer as a payment method, are often linked to premium players who enjoy wagering large amounts of cash. This is why when you gamble at bank transfer betting sites, they are likely to support high-rollers and have very high deposit limits or none at all.
High-roller bank transfer bookies love this online betting payment method option because, while a debit and credit card can also make a direct deposit from your bank, there can still be a limit on the transfer amount. However, if you do a bank transfer, the sky’s the limit for the bettor and the casino.
Bank transfer withdrawals are also very common, especially in the United States. In areas like Europe, gambling operators actually prefer the use of an e-commerce service like PayPal or Skrill. That being said, if you’re legally gambling within the US borders in a legal state on a US-facing gambling site, bank transfers remain a top option.
Deposits via bank transfer
Open an online bank account with your relevant financial institution platform if you don’t have one. Often you will have the option to download an online banking app to help you manage your banking online. If an app is not available, the bank will most likely have a desktop online banking site. This is a great tool that helps you to stay in control of the amounts that enter and exit your personal account.
Choose a reputable online casino that offers high-end security and a license from the appropriate jurisdiction. You’ll notice that these online operators usually have the Cashier/ Banking section featured on the homepage or in the basic main menu. If you’re currently looking for reputable bank transfer betting sites, you can go through some of our in-depth operator reviews here at TheGruelingTruth.com.
When you’ve found the banking section, go to the online casino cashier option and choose direct bank transfers as your payment method. From here, the site can take you to two destinations: one may require you to log onto your online banking service, or you may get a pop-up displaying an array of banking services, which will most likely include your institution if it is in the US. If none of these options appear, you may have to access your online banking site separately and do the transfer on the banking site by using the operator’s banking details.
You may be required to confirm the transaction by entering the casino’s bank details. If required, wait for the transaction to be processed from your bank account to the player account at your online bank transfer betting site of choice. That’s it — you’re all done!
Withdrawals via bank transfer
Choose direct bank transfer as a payment method at your operator of choice. Also, it’s important to make sure both deposits and withdrawals are available for your sports betting bank transfer, as there are a few operators that restrict bank transfers to deposits only. Operators tend to do this mainly to adhere to the local laws in their state, and this also makes it worthwhile to check the operator’s Ts & Cs as the legal regulations regarding these practices should be taken into consideration.
Now that you know where you stand with the deposit/withdrawal rules and regulations, you can enter the relevant bank account information which usually includes the account number, contact address, phone number, and the amount you want to withdraw. To fortify the security of this transaction you might also be required to enter its respective IBAN or SWIFT code.
Because this is a bank transfer, you can expect a waiting period for the transaction process. You’ll read more about the waiting periods below.
Withdrawal and deposits with bank transfers: average time scales
Bank Transfer or ACH is common and, at most casinos, it can be used for both deposits and withdrawals.
Bank transfer deposits can take a mere ten minutes but also more than 24 hours depending on your bank and operator.
On the other hand, bank transfer withdrawals can take up to six days due to verification requirements. Both the casino and bettor’s bank need to provide confirmation to securely complete the inter-bank transaction.
While PayPal acts as a middleman, it has almost instant deposit timing, and withdrawals take up to 48 hours, which is a much faster option.
Nevertheless, if your funds take longer than a week to reflect, contact customer support immediately.
Bank transfer verification requirements
Verification Requirements — signing up
When registering with bank transfer betting sites, you’ll always be asked for your personal details. This is just to prove that you’re a legal resident with the legal right to gamble, and that you’re over the legal gambling age. Requirements may differ from, for example, a Paysafecard sportsbook, so it’s crucial to know details you need to provide when registering for bank transfer betting sites. Remember, this information keeps your account safe from fraud and identity theft so it is an important step. Here’s what you usually need to provide:
Date of Birth
Security Question (optional)
Verification to play — the KYC laws
Most casinos, including Venmo betting sites, will allow you to play immediately after your first deposit has cleared. However, what you can do on the betting platform may be limited until you provide supporting documents confirming your identity, address, and age. This is because online casinos, like all financial companies, are subject to ‘Know Your Customer’ (KYC) laws.
You’ll be required to provide a copy of your photo ID, which can be a driver’s license, a photo ID Card, or a passport along with an official letter dated in the last three months that is addressed to you – such as a utility bill or bank statement.
After supplying the operator with this information it can be verified and you can be granted full access.
Before processing a withdrawal, some US online casinos may require that you verify your identity. This verification process can also point to the one discussed above, but many casinos have also implemented a four-digit passcode that you set up during registration. The casino can ask you to provide this code before submitting your withdrawal request.
What is known today as one of the leading online gambling banking methods was invented in the second half of the 20th century. During this time, people had become used to banks and other similar financial institutions, such as cash services like MoneyGram, and these services had built up enough credibility and trust to handle people’s funds under proper authorization.
The first institutions that started dabbling with bank transfers were cash services that made use of their existing telegraph service, hence the frequently interchangeable terms ‘bank transfer’ and ‘wire transfer’. An example of such an institution is Western Union.
Using the wires of its telegraph network, separate offices of the Western Union cash transfer service were able to receive the funds at one branch location. After receiving the funds, it sends the necessary passwords and codes to their specific destination — thus authorizing the payout at the second branch office.
From this primitive form of direct bank transfers, people were later able to benefit from the complete automation of these financial operations.
Once the entire banking system was computerized, the arrival of the Internet saw a complete transformation of the bank transfer process, enabling quick and efficient transfer of people’s funds from one destination to another.
Today, bank transfers are used for basically every kind of transaction, as they have been made available as payment methods at top online service platforms — gambling operators included. The method is further supported by online banking services and apps provided by different financial institutions that empower account holders to gain easy access to their current finances 24/7.
Bank transfer betting sites compared to other providers
Bank Transfer versus PayPal
When it comes to standing the test of time, the award goes to bank transfers. No denying that PayPal has a great track record, but if you’re more of a traditional gambler, you’ll likely opt for the tried-and-tested method that has proved itself to be completely safe and secure.
Depositing or withdrawing via bank transfer means that you are transferring funds directory to your operator from your bank with no middleman involved. PayPal is an example of a middleman in this respect; however, there are gamblers who prefer to make their gambling transactions using a middleman. Depending on the bank and the casino, this may affect the waiting period until you have access to your funds.
Finally, although many casinos accept PayPal as a payment method, bank transfer will always be more likely to be on an online casino’s payment method list because it’s been around for so long, even though pay by mobile betting sites will usually incorporate PayPal, using bank transfer allows you to access more gambling sites and gives you more options.
Bank Transfer versus Neteller
Neteller is one of those providers that are famous for their customer support and also their security measures. This doesn’t necessarily make Neteller better than a bank transfer, except if your bank has really bad customer service. Both are famous for being really safe, which is crucial when gambling online.
Although Neteller promises fast and easy deposits and withdrawals, it is also classified as a ‘middleman’, which means there is not that clean line between your casino account and your bank account. Then again, your chances of finding a casino that supports bank transfers and not Neteller remains significantly higher than one that supports Neteller and not bank transfers.
Three essential facts about using bank transfer betting sites
Bank transfers can have fees, and so can bank transfer betting sites
This is something that depends on the online casinos at which you are playing, but you’ll find that there is most often some type of fee associated with online casino deposits. Not all operators impose fees, but it’s better to be aware of a possible fee than to get one unexpectedly. Whether there is going to be a fee, and the exact amount of the fee, will depend upon the operator in question and will also most likely be related to how much money you are depositing.
Bank transfers are known for being widely accepted as deposit and withdrawal methods
Something that separates bank transfer deposits, from deposits using any other method, is the fact that bank transfers are almost always accepted as a withdrawal method too. So, while other players may be forced to deposit via one payment method and withdraw via another, bank transfers allow for the seamless deposit and withdrawal of funds whenever this is most convenient for the customer of bank transfer betting sites. However, it’s important to keep in mind that sports betting bank transfer withdrawals tend to take a few days to process while other methods of withdrawal can be faster.
Bank transfers do not necessarily equate to special casino bonus offers
There are not many casinos offering special deposit bonuses exclusively for customers using bank transfer methods to deposit and withdraw their funds. Don’t be discouraged, though. Most bank transfer users will be eligible for the majority of casino bonuses that are available sitewide, unlike users of American Express betting sites, who may frequently be excluded from these bonuses due to their payment methods.
The smartest thing you can do as an online gambler is to read the Ts & Cs of any offer you are interested in, whether it’s a bonus or promotion offer, before you decide to opt-in so you will be informed about the most important details of the specific deal.
Bank transfers are among the oldest and safest options when it comes to depositing and withdrawing money at bank transfer betting sites. This is because you need to verify your bank account at the casino when doing an online betting bank transfer, allowing your bank to contact you in case any fraudulent activity is detected on your account.
Using the sports betting bank transfer method is not the most modern, but it certainly has kept its charm with established gamblers as it provides many perks and creates a direct transactional path, where players can avoid extra middleman fees. Be sure to take a look at some of our comprehensive sports betting bank transfer operator reviews and also our casino reviews that offer bank transfer as a payment option. If you enjoy good, old-fashioned security combined with perks like no deposit limits, then you’ll be sure to find your match on TheGruelingTruth.com
🎁Do direct bank transfer deposits qualify me for bonus deals and other promos at my casino of choice?
Mostly, you won’t be disqualified if you’re using bank transfer as your preferred payment method to qualify for a bonus deal. However, it also depends on the type of bonus deal you are looking at and the operator’s terms and conditions. Visit our bank transfer review to find out why it remains such a popular option and how you can use it for claiming bonuses at your favorite operator.
⏳How long does a bank transfer deposit take at bank transfer betting sites?
This can both depend on your bank of choice and your operator of choice. In TheGruelingTruth.com’s in-depth review on bank transfers at betting sites, we looked at how you can estimate the duration of your deposit, so take a look and find out many more valuable details about bank transfer betting sites.
💰What do you need to make a bank transfer at bank transfer bookies?
In most cases, you’ll need the same verification information that you needed when you opened your bank account. To find out more about bank transfer payment verification and how secure it is, navigate to our in-depth review on bank transfers as a payment method in online casinos on TheGruelingTruth.com
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