If you want to transfer money from your checking account to an external party then there are plenty of possibilities such as a bank transfer. You can transfer money directly from your checking account to your gaming account at the online casino of your choice. The bank will take care of moving the money.
You give your bank a payment order to withdraw the amount from your account. Then they credit it to the other party’s account. In this article we explain exactly how a bank transfer works. What are the advantages and disadvantages if you want to deposit money into your casino account for the best casino bonus through this method.
This way you can make your own decision if the bank transfer is convenient for you. You might choose one of the many other payment methods such as credit card, Neteller, Skrill, PayPal or Ukash.
Different methods of bank transfer
If you are going to transfer money via bank transfer, then you have several methods at your disposal. The question is, however, whether the casino where you want to deposit also accepts different methods. You can choose to transfer the money yourself to an account number provided by the casino.
You transfer the money with a transaction number. The casino will take care of transferring the money to your gaming account. Another option would be to authorize the casino to make a one-time withdrawal from your checking account. In practice this will be almost impossible. Casinos have a lot of work to do in order to send an authorization for every request.
What does work is transferring the money directly via bank transfer and we’ll explain all about this in the next section. Nowadays, iDeal is the most common way to deposit money into your account through a bank transfer. iDeal is also considered a bank transfer because you make a payment through your bank.
However, this is done with iDeal and not directly with internet banking from your own bank account. You will find a more detailed description of paying with iDeal elsewhere on this website.
Depositing money at a casino by bank transfer
If you’re going to play slots, table games or other casino games, then in most cases you’re going to end up playing for real money. If you want to place a bet to play for cash prizes, you’ll need credit. You’ll need to transfer money from your account to the casino. If you choose to do this by traditional bank transfer, there are a number of advantages but also disadvantages to doing this which we will explain below.
How does a bank transfer work? Very simple, but it does take a bit more time than a quick bank transfer via iDeal or PayPal for example. First of all make sure you have all the casino’s payment information at hand, such as name and account number (IBAN). Then log into your digital online banking environment and choose new transfer / transaction.
Note that most casinos are located abroad (Malta, Gibraltar and Curacao) so you’re dealing with an international transfer. In most cases there are no extra costs involved, but it is important to choose “new international transfer” in your digital banking environment.
Malta is part of the EU but Gibraltar and Curacao are countries outside the EU. It is good to know this because some banks work with a classification for transfers within and outside the EU. If you fill in all the details and go through the steps, which include the verification code of the random reader, then your transfer will be sent immediately.
It will then take some time before the money is credited to the counterparty (the casino in this case). Some patience is therefore required if you choose the safe deposit method of bank transfer.
Bank Transfer: Advantages and Disadvantages
A major advantage of the bank transfer is that anyone can use it. You don’t need to open a special payment account with another party than your own trusted bank. After all, not everyone has (and wants) a Master or Visa credit card or a PayPal payment account. Then there is always the possibility of being able to pay by bank transfer. In short, a bank transfer has the following advantages and disadvantages.
- Simple and familiar
- Accepted all over the world
- Safe
- You can also cash out this way
- Old fashioned and outdated
- Cumbersome and slow