Bank Transfer Casinos

What are online casino Bank Transfers?

Bank Transfer casinos offer a simple solution to gambling without the added hassle of opening an additional payment option. The banking method allows players to use funds in their bank account to make a direct transfer to their player accounts. As a result, South African players can initiate casino deposits to their respective online casino accounts via the banking method.

A Bank transfer is sometimes called an EFT (Electronic Funds Transfer). Players initiate transactions from their bank account to another bank using online banking. Wire transfers are highly common and offered daily by financial institutions across the globe for gambling and non-gambling transactions. Without a doubt, EFTs (wire transfers) are one of the simplest payment options to use in online casinos, hence why the deposit method is so popular with punters. You can also check out our articles about EasyEFT, Instant EFT (Payfast) or SID Instant EFT.

Types of Bank Transfers Available to fund your online casino gameplay

Whilst many believe that a bank transfer is only completed via your bank account, other options are at your disposal to fund your chosen online casino account. Here are the types of transfers that are classified as Bank transfers in almost all online casinos.

Bank Transfer

A Bank Transfer involves you transferring money from one bank account that belongs to you to your online casino account. In this case, the bank acts as the intermediary for casino transactions without requiring a third-party payment processor.

Wire Bank Transfer

A Bank wire transfer involves two bank accounts. Here, your funds go through an international transfer system called SWIFT, which will help you carry out international transactions. To initiate, you must choose “Wire Transfer” as your preferred deposit method. The casino will provide information you need to include in your transaction, including the casino's bank account, routing number, and SWIFT/BIC code. Use the provided banking details to initiate wire transfer payments and wait for it to reflect in your account.

Instant Bank Transfer

Instant bank transfer casinos allow you to make a traditional bank account transfer without having to wait endless amounts of days for your funds to be available. Unlike wire transfer casinos, instant Bank transfers are immediate, with your funds readily available to use within seconds.

How to make a Bank Transfer at a South African Online Casino

Making your first wire transfer Bank transfers at an online casino is a straightforward process. However, you might need some guidance. Here is how to complete the process:

• Head to your chosen SA casino and log in to your player account using your username and password.
• Click on the payment section, sometimes referred to as CASHIER.
• Tap on the DEPOSIT button.
• From the payment option drop-down menu, choose BANK TRANSFER or WIRE TRANSFER.
• Follow the details as outlined by the online casino, where you will be asked to enter the bank account details and also include the amount you would like to deposit into your player account.
• Confirm the transaction by hitting the deposit button and waiting for your funds to reach your player account.

Advantages and Disadvantages of Online Casino Bank Transfers

Are you considering making your first deposit via Bank account Transfer to fund your SA online casino gameplay? If yes, we recommend you pay attention to the advantages and disadvantages of the payment method. Here is what other gamblers are saying about using the Bank transfers for their South African online gaming

Pros of using Bank Transfers

Bank transfer has several advantages. So much so that many players use it as their preferred payment method. The most popular ones are:

Availability

Wire transfers work anywhere. The reason is that bank transfer is among the most widely accepted casino payment methods. In fact, almost all online gambling sites accept it. The payment channel eliminates the need for intermediaries and gives more control over transactions. All you need to do is select wire transfer from the payment options. Individuals can request a bank statement to track their activities while gambling online. Unlike other deposit and withdrawal gateways, players don’t need to open additional accounts to remove funds from their casino balance.

High Limits

Banks have a higher transaction limit than most payment providers, despite having a minimum deposit like others. For example, many prepaid cards and e-wallets cap your bank transfer deposits to a humble RA5,000. But bank transfers via Internet banking can be as high as ZAR100,000. With this, players enjoy more control over the money they win from slot machines.

Reliable and Secure

Most South African banks and online casinos use high-level security to guarantee player protection. Both institutions use SSL encryption to protect data shared between the bank’s servers and the player’s bank accounts. Likewise, two-factor authentication, identity verification, and transaction alerts. A standard bank uses one-time passwords (OTPs) and biometric authentication to prevent unrestricted account access.

Bank Transfer Casino Bonus

Most online casinos offer bonuses to players for using bank transfers as their payment methods. The most popular ones in top South African casinos are:

• Welcome bonus: New players who use bank transfer are eligible for a welcome bonus, free spin, or a combination of the two in a South African online casino.
• Deposit bonus: The standard casino bonus is a percentage of the deposit. However, for bank transfers, the casino may offer a match bonus on the initial deposit or subsequent deposits and withdrawals using the channel.
• Reload bonus: Existing players who make additional deposits enjoy the reload bonus.

Cons of using Bank Transfers

Despite its many advantages, the bank transfer payment method has its drawbacks. The most prominent ones are:

Fees

Bank transfer transaction fees vary due to various reasons. Some online casinos offer free deposits to attract customers. Nonetheless, others charge a small fee, especially for international transfers. Likewise, users enjoy a limited number of withdrawals per month, including additional fees that may be a fiat amount or a percentage of the withdrawal. Players depositing a currency different from their base account currency will pay a currency conversion fee, which often has the same structure as others. Hence, we recommend you review the online casino’s bank transfer terms and conditions to understand the exact amount associated with transactions.

Timescales

Transaction processing time is one of the hurdles of bank transfer. Unlike cryptocurrency and other instant popular payment methods, the duration depends on various factors. They include location and the casino's or bank’s policy. As a result, the processing time varies between operators. Generally, local deposits take up to 3 business days, while international transactions take up to 5 days or more. In contrast, withdrawals take longer to process. First, online casinos verify and approve requests, and the bank does the same to your bank account details. Factors like currency conversion may further stall the process. Due to this, the withdrawal method may take up to 7 business days to complete in some cases.

How to make a bank transfer withdrawal at South African online casinos

Completing your winning withdrawals using bank transfers at South African casino sites is a stress-free process. The best way to ensure a smooth and stress-free transaction is to complete the KYC before initiating a request. Licenced casinos use the Know Your Customer process to verify the player’s financial banking details and identity. With this, they prevent transfer fraud and money laundering. Follow these steps to verify your KYC:

• Gather your documents in digital formats in advance. The common documents online casinos ask for include a government-issued ID (passport, driver’s licence, or ID card), proof of address (Utility bill or bank statement), and proof of payment method.
• Read the casino’s KYC requirements.
• Scan or submit high-resolution images or bank account details to ensure they are legible and clear.
• Upload the details on a secure or private connection.
• Follow the instructions and wait for the team to review your payment details.
• Contact customer support if you run into any problems.

Completing the KYC is a standard requirement for withdrawals via wire transfers. In other words, you will do it sooner or later. However, it is better to do it before you need your funds to avoid delays. That said, follow this procedure to send money from your South Africa casino account to the first national bank or any leading South African banks.

• Log in to your South Africa online casino account.
• Click on the Cashier and tap on the WITHDRAWAL icon.
• Enter the amount you would like to withdraw from your available player balance.
• From the drop-down menu, choose bank transfer as your payment option of choice (If you used this payment method at the deposit stages, the online casino would likely already have your details saved).
• Review all of the information that you have input and hit the confirm button to go ahead with your wire transfer withdrawal request.

Frequently asked questions about Bank Transfer at casinos

Do you have questions related to your financial transactions (deposits and withdrawals) done via wire transfer at South African online casinos? If yes, you are not alone. With that in mind, we have grouped the top questions asked by gamblers related to the payment option.