Gamblers who have their own bank accounts can make withdrawals of wins by bank transfer through the managers of online casinos. This is not the most convenient method, because withdrawal of funds to the bank account is possible from some minimal amount which is stated by the owners of every casino, and the cost of such a service can be quite high and the withdrawal may take a long time.
However, it is not necessary to have a private account to use bank transfer. It is possible to make a deposit on an account of an online casino in any department of a local bank.
Wire transfer - is one of the types of money transfer in form of cashless payments comprising imposing obligations on oneself for a reward of the first party (the bank) by request and at the expense of the second party (the sender).
Bank transfer is usually preferred by the customers who don't put the speed of transfer a priority.
The cost of bank transfer is much lower than speedy payment systems, such as Western Union for example. Herewith, it is higher than many other payment systems have.
To make a bank transfer you need to visit one of the bank offices with your ID. Another thing you need is the bank details of the recipient:
Please take into account the limits on current transfers stated in your country. These amounts can vary for residents and non-residents.
The sender fills the application for the transaction and gives it to the bank manager which is responsible for the operation. Taking this application as a matter of low, it is a kind of order to the bank for providing delivery of funds to the specified place and payment to the specified person with help of a certain credit organization.
Then the sender bank fills the document used to notify the recipient bank about the bank transfer. This document is named a letter of advice and it is transmitted by encrypted messages.
This document states the legal relationship between the banks by payment issues. As soon as the recipient bank receives the letter of advice, it sends a message about the bank transfer to the recipient. The recipient who has received the notification gets the right to request the bank for an amount stated on the document.
Actually, bank transfers are not very popular among the customers of online casinos in New Zealand. Limited amounts, quite a high price, and low speed make the customers use other payment methods. However, sometimes it is hard to find something more secure and quality than a bank transfer, for example, when an amount of withdrawal is quite high.
Yes, many internet casinos offer this option, but bank transfers are not the most profitable and convenient way to make deposits.
No, this payment method is not widely spread in the gambling industry, though some online casinos do use it.
This method is available in some online casinos, but not all gambling websites offer it.