Direct Bank Transfer- An Easy Online Guide
Of all the casino payment options found online, the one that has stood the test of time is the direct bank transfer. This was the original method to pay for goods and services in New Zealand, and is still commonly used for casino deposits and cashouts today. While the number of online payment options has certainly increased, for players just starting out, paying by direct transfer takes all the worry out of funding your account. Since your financial institution completes the transaction, you can be sure the funds end up where they need to be.
How to Make a Direct Bank Transfer
If you want to fund your online or mobile casino account by direct bank transfer, the first step is to get the account details of the casino itself. To do this, you can log onto the casino web page and head to the banking section. In the banking section, you can click on deposits and scroll down to direct bank transfer or wire transfers. Here you will find the casinos banking details, including the SWIFT code, which you will need to give to your bank in order to do the transfer.
Once you have all the banking information, you head over to your local bank or complete the transaction via telephone banking. The bank will then organise a wire transfer directly from your account to the casinos account, with the amount you want to deposit. The bank charges a small fee for this services and it takes a few days to process. In most cases, a wire transfer will take between 5 and 7 working days. Once the transfer has cleared, your funds will reflect in your online casino account and you can start playing for real money.
Why Use Direct Bank Transfers?
With the introduction of web-wallets and pre-paid credit cards, the need for direct bank transfer deposits has pretty much disappeared. Players who are new to the online casino scene still use wire transfers as they are extremely safe and can be used to make large deposits without worrying about the payments ending up in the wrong place. While that may be the case, bank transfers are often still used as popular way to withdraw your casino winnings.
Cashing Out Into Your Bank Account
Since web-wallets still require players to cash out into their bank accounts, most people find it easier to cash out their winnings directly into their bank account without going through a web-wallet. To cash out your winnings into your bank account, simply log onto the casino website and head to the cashier section. In the withdrawal section, click on bank withdrawals and insert your banking details. The online casino will then process the transaction and transfer the funds directly into your account. This can take anywhere from 5 to 7 working days.
Pros and Cons of Using Direct Banking
If we look at the pros and cons of the direct bank transfer, we can see that it is a much slower way to pay online. Setting up a bank transfer takes time, and it often takes up to a week for your funds to show in your account. However, it is a safe way to pay and it is ideal for first-time players who do not have a web-wallet account and do not want to use their credit card online.