Wire Transfers

Overview

Wire Transfers (also referred to as Bank Transfers) are a widely used method of payment for online gambling customers. Large deposits may be made quick and easy especially, which is why this is a preferred method for high rollers. Even if you’re just looking to make a small deposit, this payment method is a great option and comes highly recommended.

How to Fund

Unlike other forms of online payment methods, Wire Transfers require that you visit your banking branch or other financial institution to make the transaction. You will need to provide the teller with your banking account details and the details of the merchant where you want to deposit funds. It is recommended that you contact your merchant first before going to the bank so that you have thorough details so you can provide them.

Pros/Cons

A big advantage of making a Wire Transfer is that is accepted just about anywhere when you want to make a transfer of funds. You can process your deposits super-fast so that it goes directly to the merchant.

While many alternate transaction methods are more popular on online casinos, Wire Transfers are very effective when making a deposit to your gaming account. Since it comes directly out of your account from your local bank, the security is top notch.

Wire Transfers are not recommended for US residents who wish to deposit funds to a gaming website since regulatory agencies such as the Federal Regulation monitor all Wire Transfers made in the US. In Europe the Wire Transfers are monitored by the European Commission.

An unfortunate drawback of making a Wire Transfer is that the fees are usually higher than with other methods of payment but it depends upon your bank. That’s why it’s great for a large sum because the fee is a flat fee.