22. July 2021
All You Need to Know About Bank Transfer Casinos
Bank transfer casinos represent the old version payment forms. Bank transfer casinos at 1001onlinecasino.co remain intact even with advancements in the field including bitcoin technology. Learn more about these bank transfer casinos and what to expect.
How Bank Transfer Casinos Work
The bank transfer casinos use electronic transfers from the payer's bank account to the receiver's bank account. The payment medium can be completed through a phone, internet or banking depending on the nature of the casino.
It is important to note that after making an order and payment, the processing times takes a few days to complete. It takes five days and even more when transacting internationally. There is the instant bank transfer.
- Long processing times
- Various options included
How Bank Transfer Procedures Happen
For a complete payment procedure for the banking option, the individual needs to order the bank for the transfer. Furthermore, they must confirm amount of money sent to payee. There are two crucial codes needed.
The BIC code is commonly used for identifying banking and financial institutions. The IBAN code represents a globally recognized system for identification of bank accounts that is made up of up to 32 characters.
Instant Bank Transfers
Traditional bank transfers take up to five days or more for processing any payment orders. It is a long time to wait just to get some gaming action. It is where instant bank transfers come in handy.
It represents instant transfers between bank accounts normally though an online version guided by third party digital service providers. Some popular names in this service lane include Paypal, Trustly and Giroplay among many more,
- Paysafe card
Depositing ant Bank Transfer Casinos
Even though this option comes with slow processing times, it is a popular option for many players. The high levels of security and chance to make a substantial deposit at the casino makes it worthwhile.
The bank transfers allows player to choose their preferred currency. You can a deposit in euros and have it converted to any currency chosen in your online casino account. For example, dollars or pounds.
- Accepts different rates
- Market value applies
Withdrawing at Bank Transfer Casinos
Almost all online casinos accept the bank transfer as a withdrawal option. It includes the same procedure when making a deposit. There are standing fees that apply for each cash transaction at the casino.
You will have to wait before the casino authenticates your withdrawal. Furthermore, the casino takes some time to process your withdrawal request. Transactions by casinos take most ten days for a complete transaction to receive your winnings.