Bank transfer, also known as wire transfer, is one of the numerous payment methods available in online casinos. This payment method is preferred by players who do not want to go through the stress of moving their money to a third-party platform to make transactions online. Bank transfer casinos allow you to make payments directly from your bank to the casino account.
There are many online casinos in India with bank transfers now. Meanwhile, gambling in India is highly regulated, as such, bank transfer payments are subjected to thorough checks. Hence, the processing time for both deposits and withdrawals can take hours. Additional fees are also attached by either banks or casino platforms as processing fees.
The Advantages and Disadvantages of Bank Transfers
To help you understand Bank Transfer Casinos better, here are the advantages and disadvantages of Bank Transfer Casinos.
Convenience and ease of use
Bank transfers are relatively easy to use for any player. It does not require much deposit and withdrawal process as in other payment methods. It is as easy as inputting the Bank details and specifying your transaction information.
Online casinos in India with bank transfers are one of the safest casinos to consider. The bank ensures the funds being transferred are secured and sent to an authorized platform. Likewise, your transaction is highly secured with no fear of being hijacked by any kind of threat.
High limits but cost-effective
Bank transfer allows you to transfer a large amount of money to your casino wallet without restrictions. Since your bank has verified the authenticity of the receiving platform, it offers a wider limit than e-wallets will allow. Moreso, the transaction fees are fixed for all transactions instead of percentage as in other payment options.
Long processing time
Banks ensure to verify the authenticity of the casino platform before making a deposit. This process takes time and may eventually result in long processing. The average processing time for deposit can be 24 hours while withdrawal may take as long as 10 days to process.
Verification is required
The Bank deposit option requires that you use a verified account to be able to use the option. You must have an account that is fully verified with proof of identity. The verification process might be a tough time for a player willing to play for the short term.
Liable to rejection
Gambling in India is subjected to stringent regulations. In some cases, your attempt to use a bank transfer might be denied for reasons best known to the bank. As such, it is not always a reliable option if you are playing in a new online casino.
How To Deposit On Bank Transfers Casino
Depositing at a bank transfer casino is a simple task. It is relatively the same process for all bank transfer casinos, however, there may be slight changes in some bank transfer casinos. The following are the steps to make deposits using the bank transfer option;
Set up your bank account
It is not just an ordinary bank account that you need while using bank transfer casinos. Your bank account must have been activated for such a purpose. If your bank has not been activated for standard internet banking, you will need to visit your bank to activate it. In some cases, you may visit your bank mobile website to activate it also.
Deposit into your bank account
After you must have set up your internet banking feature, you then need to deposit into your bank account. You must have an idea of how much you want to deposit into your casino wallet and the likely processing fee from both the bank and the casino. Therefore, the amount you must have in your bank account must be equivalent to the sum of all these three.
Transfer the money into the casino wallet
Transferring the money into your bank transfer casino's wallet will require a UPI casino transfer or net banking option. Visit your casino dashboard or banking page, click on deposit and choose net banking as the preferred option. Enter the amount and required information where necessary and click on deposit. This will redirect you to your bank provider page where you will finish up the transaction.
In some cases, you may also call the bank transfer casino's customer support to retrieve the casino's bank details. You can then proceed to your bank to make a direct deposit into the account. However, you will need to confirm with the support agent to know if the payment has been received which may take a long time to do so. Deposits using the bank transfer option can take up to 24 hours to process.
Bank transfer can be said to be the most secured payment option in online casinos. The reason for this is that the transaction is going to be between your bank and the casino platform unlike using e-wallets that are third-party agents. It is interesting to know that banks have a way of identifying licensed casinos and will not approve such a transaction if it is a bogus casino.
It is also worthy of note that when you are depositing for the first time, you will be entitled to a welcome bonus. This bonus can either be a cashback or a free spins bonus. Bank transfer casinos also have time-to-time promotions to reward players which will never exclude players with bank transfer deposits.
How to withdraw On Bank Transfers Casino
Withdrawing your winnings from a bank transfer casino is not as difficult as making the deposit. You don't need any more setup this time. All you have to do is to follow the process below;
Visit the cashier page or the profile page of your casino
Initiating a withdrawal starts with visiting the cashier page of your casino. Here you will find the withdrawal option and you can click on it to start the process. In some casinos, you can find it on your profile page when the cashier page is not available.
Choose bank transfer as your preferred method
After clicking on the withdrawal button, you will find different options available for withdrawal on the platform. Since you are willing to use the bank transfer, you will need to select it as your preferred method.
Provide the necessary information
You will be requested to submit information regarding the bank details you want to make the withdrawal. Likewise, you will be required to input the amount for withdrawal into the appropriate column.
Confirm the withdrawal
After inputting all the needed information, you will be required to confirm the details. This action is to ensure you have input the right bank details as the process is non-reversal once activated. After that, you can click on submit or confirm to activate the withdrawal.
It is important to note that withdrawing using a bank transfer option takes a long time to process. It can take up to 10 days depending on the bank and the casino. As a result of this, some casinos do not always support this withdrawal option. You will be requested to use other options such as e-wallets in Skrill casino, PhonePe casino, and Gpay Casino. Also, some of the best bank transfer casinos will only allow you to use this option if you deposit using the bank transfer option.
Top Bank Transfer Casinos
Perhaps you have been looking for the best bank transfer casino, here are the top online casinos in India with bank transfers you may want to consider;
Accepts Bank Transfer
Bank Transfer Withdrawal
Are bank transfer deposits legal?
Although India is known to have very stringent gambling regulations. Nevertheless, provisions have been made to allow the use of bank transfers in online casinos. As such, using net banking and other internet banking platforms is legal when used in a regulated casino.
Is verification required to use bank transfer?
Verification is very important in online casinos. Why you may not be required to verify before making your deposit, you will be required to verify your identity before you can withdraw your winnings.
Are there charges for using a Bank transfer deposit?
Yes, the bank charges a processing fee for using the payment option. Some casinos also charge additional fees aside from bank charges. You may need to find out with your bank and casino what the bank charges are likely to be.
Can I withdraw directly into my bank?
The answer to this question depends on the bank. While some banks accept transfers into your bank account from a casino website, some will not accept it. In a case your bank does not allow such, you will have to make use of other withdrawal options available by your casino.
Are there limits to the bank transfer option?
There are always limits to how much you can deposit into an online casino wallet. Your casino will always specify the deposit maximum and the minimum deposit. Meanwhile, the withdrawal limit may not be specified depending on the casino.