Wire transfer Casinos

A wire transfer, also known as a bank transfer is one of the oldest methods of payment into online casinos and in many ways on the internet in general and before. The only type of payment which precedes bank transfers in the history of money is cash payments and as the name suggests it is simple a process of funds from your bank account being transferred to another location, in this instance, your online casino account.

What is a Wire Transfer?

In its most basic form a wire transfer is the movement of money from one place to another, electronically. When looked at it step-by-step it seems like quite a drawn out process and it works through the payer making sure they have the information relating to their own bank account and the bank account they are paying the funds into. This will include everything from the payer and payee addresses as well as their name, bank addresses, bank account numbers and banking codes such as sort codes, BIC and IBAN.

With this information the bank can then be ordered to carry out the transfer and both parties involve are required to verify the data provided and this is why a wire transfer’s payment processing time is often longer than eWallet and other electronic payment methods and it is estimated a bank transfer should take place within 3 and 5 business days. There are also instant wire transfers which work more quickly and are offered by some banks.

It is important to remember that some wire transfer methods have fees attached so you should always make sure to check in advance.

The History of the Wire Transfer

The modern day wire transfer officially came into being and was recognised as a payment method when Western Union launched their wire transfers service, the first of its kind, in 1872, using its pre-existing telegraph network. Using individual passwords and code books, telegraph operators in one office would ‘wire’ money that had been paid into that office to anther telegraph operator in another office, to be paid out to the receiving customer.

The service has improved and got much quicker with the growth of the internet and now wire transfers are almost always electronic and processed through the internet. This payment method has remained popular over the years because of its safety and this is why so many casinos still have it as an option.

Making a Casino Deposit via Wire Transfer

To choose a wire transfer for funding your casino account you will need to look for the Wire or Bank Transfer tab on the Deposit page within the Banking or Cashier area of your chosen site. On visiting this area, you will be provided with the bank account details of the casino and you need to make a copy of these and use them to fill out a wire transfer form in your bank in person or via your online internet banking, whichever you prefer.

After 3 to 5 days your funds should hit your casino account and you should find an email confirming this from your casino and so you’re ready to start playing. People still stick to bank transfers because they are an assured and safe way to move funds around but there is the time delay involved. You can explore the casinos which accept this kind of payment method below.