Wire transfer refers to the process of sending/transferring money from one bank account to another using an electronic medium. Although there are numerous methods of transferring money electronically, wire transfer is the most widely used option. If you are looking at different ways of making secure payments to your online casino, one option definitely worth considering is a wire transfer.

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How a Wire Transfer Works

A wire transfer process takes place in two simple steps. The sender approaches his/her bank and asks that a certain amount of money be transferred from his/her account to another entity’s account. The bank then transmits a message to the receiving bank using a secure system like Fedwire or SWIFT and provides settlement instructions according to which payment has to be effected. The sender may be asked to provide the IBAN (International Bank Account Number) and BIC (ISO 9362) code to ensure the safety of the transaction. Banks charge fees both from the sender and from the recipient for the wire transfer.

A wire transfer is a simple process like other methods of online transaction. Simple though it seems, wire transfer is not an instantaneous process. It can sometimes take several hours or even a few days for a fund to be transferred from the sender’s account to the receiver’s account. However, the advanced level of security makes wire transfer the safest method of transferring money. In many countries, there are regulatory agencies to monitor how the wire transfers are made. Wire transfers can also be made in multiple currencies.

Using Wire Transfer for Funding Your Online Casino Account

If you want to fund your online casino account using wire transfer, you must first have a bank account that offers this facility. At the online casino, visit the banking section and choose ‘wire transfer’, if it is available, as your preferred banking method. You will then have to contact your bank and go through the formalities mentioned above to have the money transferred to the casino account. If you want to make a withdrawal, you will have to choose wire transfer as your preferred banking option and provide your account details along with the amount you wish to withdraw.

When using wire transfers to fund your casino account, there is one factor you will need to consider. There are a number of banks which prohibit transactions to online gambling portals. If your bank does, you will not be able to use the wire transfer system to fund your casino account.

Online Casinos Where Wire Transfer is Accepted

Due to the fact that a wire transfer takes around 3-5 days to be processed and in view of the restrictions placed by banks, it is not a very popular method of making payments at online casinos. There are, however, a few reputed casinos that do accept payments through wire transfer. Two of these are:

  • Titan Casino
  • Europa Casino
  • 888 Casino