Is Bank Transfer popular?
Transfers were set up by banks generally, so it is not possible to single out any particular starting point for this type of transaction. There are a number of advantages for using this type of transaction, particularly for those who do a lot of online banking. With most banks, once the user has set up the recipient’s details, it is just a few clicks to do further transactions to that account.
Those who use online casinos and online bookies will find it easy to top up their betting accounts using bank transfer.
Many of them will have bank transfer as a payment option. It is a good idea to check their payment page to determine which ones do offer this as a payment option. As bank transfers are easy options for those with a bank account, this has become popular in all countries as a payment method and there are very few banks that do not permit this type of transaction.
Some users may be concerned about the security implications of transferring money this way but there are ways of protecting personal data while transferring from a bank account.
Using Bank Transfer in online bookmakers
In some instances it may be possible to link an online esports betting account to your bank account details, so that a transfer can be completed with just a few clicks. However, it is important to remember that every bank will work a little differently. They’ll have different processes in place to protect the user while they are transferring funds.
Some may want the user to go through a ‘security question’ process while others might send a verification code that will need to be entered in order to complete the transfer. It is a good idea for the user to become familiar with the process before they start to use it.
In most cases all the user needs to do is to go to the payment page on the esports betting account and select ‘bank transfer’ as the payment option. This will then give the option to connect to the individual bank, where the user will need to sign into their account and complete the transaction.
Both the esports betting site and the bank may have limits on the amount of money that can be transferred this way, particularly if the user is in a different country than the casino or betting site. It is essential to check in advance if a limit applies.
How to make a withdrawal with Bank Transfer
Once any winnings have been credited to the betting site user’s account, they have the option then to withdraw the money. This can also be done in the form of a bank transfer if this method is offered by the site. It should be noted that some sites will not allow the user to withdraw funds using a different method than they used for their last deposit.
For example, if the last deposit was made using an e-wallet option then you will not be allowed to use bank transfer to withdraw the funds.
The user will also need to check on any withdrawal limits that there are in place. The site itself may not permit the withdrawal of funds until the account balance reaches a specific amount. This will vary from site to site.
Processing times for withdrawing via Bank Transfer
Processing times are another factor that should be taken into consideration and these will also vary from site to site. For some sites it could just be a few hours for the funds to appear in the bank account, but in other cases it may take a few days. It is possible to withdraw funds using a mobile phone if the betting site is mobile-enabled and most betting and online casino sites can be accessed on a mobile phone now.
Pros and Cons with Bank Transfer
- Easy method of transferring money to a betting provider account
- No need to have additional apps to help with the transfer
- Can often be done directly from the esports betting site
- Widely available method for transferring funds as most people have a bank account
- Additional security layer can be added using a third party transfer app so bank details do not always need to be added to the provider account
- May be necessary in some cases to add bank account details to account on esports betting site, which may lead to security concerns
- Some processing times are long, taking several days
- Not all sites offer bank transfer as an option
How to set up an account
The first step that any user of an esports betting site needs to take is to open the account with the provider. This will involve providing personal information and in some cases, the provider may request additional information such as documentation to confirm name, age and address. This will be required to comply with their obligations to ensure that all users are using the site legally. Once the account has been set up, the user can choose the payment method that they want to use.
It should be noted that the user can change the payment method if they wish, so their first transaction could be via a credit card, while their next could be by bank transfer. It is not essential to have a bank account to open an account with an esports betting provider and users should be aware that that they will need to adhere to the legal age limits of their country if they wish to open an esports betting account.
There may also be other restrictions in place but these will vary from site to site, and country to country.
Bank Transfer customer support options
Users that opt for bank transfers will find that there is a lot of support available to them. Obviously, it is not possible to list the support available at each individual bank, but most banks have a number of options available for those who want to get in touch with them. These will include call centres for phone contact, email support and online live chat. The options will vary from bank to bank. Most of these options are available around the clock, but again, this will vary.
There will be a similar number of options available at the esports betting site, so if the issue is with the technical aspects of the transfer to the provider account, then the staff there will be able to help. As betting sites are available to customers at any time of night or day, the support is also often available continuously.
About the author
Ethan Lim, a native of the Lion City, is Singapore’s rising star in the domain of online casino guide localization. He masterfully blends his intimate knowledge of local culture with international gaming standards to produce content that resonates deeply with Singaporeans.