Bank Transfer / Bank Wire

Bank transfer, also known as credit transfer or wire transfer, is one of the safest, oldest, and most secure banking option offered at several NetEnt online casinos. When NetEnt casino players are loading their accounts through bank transfer, they are actually transferring funds from their bank accounts to their NetEnt online casino accounts.

About Bank Transfer as a Casino Deposit Method

Western Union launched the world’s first widely used wire transfer service in 1872. The company found it easy to do this because it already had a telegraph network. Telegraph operators used code books and passwords to wire money paid by customers at their offices to some other telegraph office so that it could be paid to the recipient. In the next two years, Western Union had processed transactions worth $2.5 million every year.

Eventually, wire transfer procedures evolved to enable consumers to make payments online. Today, you can use a computer with an Internet connection to transfer funds via bank transfer.

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What is Bank Transfer?

Bank transfers are the simplest, safest, and most cost-effective ways of transferring money from one bank account to the other.

This is how a bank transfer generally works:

• Consumers who want to make payments through bank transfer instruct their banks to transfer a specific amount from their account to the recipient’s account. In other to do this, consumers have to supply the recipient’s bank’s IBAN, SWIFT, and BIC codes.
• The sender bank then sends a message through a secure system to the recipient bank.
• Although the fund transfer appears instantaneous, it may take up to five working days for the fund transfer to actually take place.
• Banks charge senders as well as recipients for this service. While the sender bank collects fees separately, recipient banks deduct their fees from the amount sent to the recipient. As a result, the recipient receives lesser than what was originally sent to him/her.

The latest technology allows NetEnt casino players to make deposits using their online banking accounts. In most cases, this is done using third-party services such as Trustly, iDEAL, Giropay, and Sofort Uberweisung because they allow players to transfer funds anonymously.

How to Make a Deposit Using Bank Transfer at NetEnt Online Casinos

First, you have to visit the banking page of your NetEnt casino and select bank transfer/wire transfer as your preferred deposit option. When you click on bank transfer, you will be taken to a page that provides the casino’s bank account details. You have to copy these details and then click on the bank at which you hold an account. You will then be transferred to your online banking account, from which you can initiate the transfer.

NetEnt casinos usually take up to five working days to send players an email confirmation that their funds have arrived and can be used to place wagers.

While using bank transfer, players should make sure that they have filled in the bank details of their NetEnt casino clearly. If they make mistakes, their funds will reach their casino accounts very late.

During the bank transfer procedure, you have to use a code provided by your NetEnt casino. After using this code while initiating the bank transfer, players have to save it till the transfer has been successfully completed.

How to Make a Withdrawal Using Bank Transfer at NetEnt Online Casinos

Most NetEnt casinos that offer bank transfer as a deposit method also accept it as a withdrawal method. If you don’t see bank transfer as a withdrawal option on the casino’s banking page, you can contact a customer care representative and find out how you can receive your winnings through bank transfer.

Fees

The fees banks charge depend on the type of bank transfer one wants. For example, an express bank transfer service is charged £8 while a standard bank transfer can cost as low as £4. Standard international bank transfers via credit/debit cards cost £3 while express services cost £7. Some bank transfers can cost up to £30. The amount charged depends on several factors, including the amount transferred, speed of the transfer, currency conversion, and others.

NetEnt casinos usually do not charge players for depositing funds through bank transfer, but they may charge for bank transfer withdrawals. Some NetEnt casinos allow players to make a specific number of withdrawals per month free of charge while the rest are charged. And a few NetEnt casinos charge players only if their withdrawal amount is less than a specific amount.

Pros of Using Bank Transfer

Using bank transfer as a casino banking method has several advantages:

• Safe and secure - Online bank transfers are 100% safe and secure because all the information associated with the transfer is encrypted before being exchanged between the banks of senders and recipients.
• Withdrawal method - NetEnt casinos offer bank transfer as a deposit as well as withdrawal method.
• Reliable - As one of the oldest and safest ways to transfer funds, bank transfers are reliable. Consumers are familiar with bank transfer and trust their own banks a lot.

Cons of Using Bank Transfer

Simultaneously, bank transfers come with certain disadvantages.

• Slow - Players will have to wait for up to five working days to see the funds deposited in their accounts.
• Complicated - Although familiar, it is a slightly complex procedure, requiring players to reveal a lot of bank details. The slightest mistake while inputting information can lead to delay in the transfer.
• Hefty fees - Bank transfers are associated with hefty fees.
• Not anonymous - Players are required to reveal their bank details in order to load their accounts. Many players are not comfortable about this.

NetEnt Casinos Accepting Payments through Bank Transfer

Several NetEnt casinos offer bank transfer as a payment method although it is not that popular among players who prefer anonymous ways to making deposits and withdrawals. Finding NetEnt casinos supporting bank transfer is not at all difficult. Some of the casinos offering bank transfer as a banking option are Betsson, Bet At Home, Gold Bet, Play Hippo, and others.