Online casinos usually set deposit limits and you cannot deposit say it, more than £5,000, at once via an e-wallet. However, bank transfer depositors rarely have to adhere to any limits, which makes it the payment method of choice of high rollers.
Another instance when a bank transfer is used is when you deposit via a payment method that does not allow withdrawals. In this case, your winnings will probably be returned to your bank account via bank transfer.
Deposits via Bank Transfer
To make an online casino deposit, you either have to use your online banking or visit a physical branch of your bank. Then, you need to provide the required banking details the casino gave you and confirm the transaction.
Note that not all banks allow customers to wire unlimited amounts online. If you are planning to make a large deposit, you might be required to do that in person.
The biggest drawback of bank wire deposits is that they are not instant. It may take a few hours to have the funds credited to your online casino account. Also, banks do not process payments on weekends and holidays. If you make a deposit late on Friday, the funds will be available in your casino account on the next working day.
Withdrawals via Bank Transfer
Withdrawals via bank transfer are no different from withdrawals to e-wallets. However, unlike money transfers to e-wallets, bank transfers are not instant. It takes a few business days to have the money into your bank account. If you are dealing with international bank transfers, the withdrawal may take up to two weeks.
Online casinos do not charge a fee for making deposits and withdrawals via bank transfer, but your bank will probably charge you for both. In addition, you will have to pay a currency conversion fee if such is needed.
Countries Where Bank Transfer is Available
Bank transfer is available in all countries where bank institutions exist, but keep in mind that not all banks process payments to and from online gambling sites.