If you’re from India and looking for information about the best online bank transfer casinos around, look no further. We’ve put together the following guide to help you better understand the payment method at iGaming venues and to see if it’s right for you.
In the following few hundred words, you’ll learn:
- The history of bank transfers at online casinos
- How to use the payment method to deposit money from India
- How to withdraw using bank transfers
- The advantages and disadvantages of using a bank transfer at a casino
About Bank Transfers
For just about as long as banks have existed, their users have been able to transfer money from their own account to others. With the arrival of online casinos in the mid-to-late 1990s, the payment method was quickly adopted by iGaming venues.
Since it’s certainly the oldest payment method accepted at online casinos, it’s also one of the most prolific. Although you will see more modern deposit methods, such as Neteller, Skrill, or even Bitcoin, bank transfer is usually a staple.
As the name suggests, a bank transfer involves sending funds between two banks. Since it doesn’t rely on more modern payment networks, bank transfer is often more expensive and time consuming than other deposit methods. These reasons have meant its popularity is waning.
That said, there are some good reasons why people would still prefer to deposit funds at a casino using a bank transfer. High rollers (those playing gambling with the biggest bankrolls) will appreciate the lack of limits of a bank transfer, as will those with concerns about security.
How to Play at Bank Transfer Casinos?
Playing at bank transfer casinos involves little more than a casino account and some money to play with. Players don’t even technically need a bank account. They can pop into most retail banks with some cash and request they make a payment on their behalf. Depending on bank policy, size of the transfer, and local regulations, they will likely require you show them identification to make the transfer.
Important note for Indian players: With online gaming gambling being something of a grey area, a bank will likely refuse to send money to an online casino. However, many online casinos use discrete references meaning there might be no indication that the payment is going to an iGaming venue.
That said, if the transfer is a large one, you will almost certainly be asked about where you are sending it to. Indian players may prefer to use a payment method that doesn’t require going through their bank.
How to Deposit at Online Casinos With Bank Transfer
Depositing money at bank transfer casinos is easy. Although the below steps will vary from casino to casino, you should find them generally applicable. It’s also worth noting any conditions attached to a deposit bonus that might be available from the casino. Understand when you should claim the promotion or enter a deposit code before you start the sign-up process.
Here’s how to get started at bank transfer online casinos:
- Register for an account with a casino that accepts online transfers. There are plenty of trustworthy ones listed on this page.
- Navigate to either the “wallet”, “cashier”, “account” or similar section of the casino’s website.
- Click “deposit”.
- Find “Bank Transfer”, “Wire Transfer”, or similar and click it.
- The casino will show you its banking details. These will include an IBAN and BIC numerical reference. These two details identify the bank account of the casino you are using.
How to Withdraw From Online Casinos With Bank Transfer
The withdrawal process from a bank transfer online casino is largely similar to making a deposit. It’s very easy but if you’re not sure, we’ve given some information on the process below:
- Find your bank account’s own IBAN and BIC number. You can get this by calling, visiting your online bank account, or even going into your local branch.
- Go to the “cashier” or “wallet” section of your casino account.
- Click “withdraw” and select “bank transfer”.
- In the next window, you will need to enter your banking details and the amount you wish to withdraw.
- Then, click “withdraw”.
Like with deposits, expect to wait a few days and also for the banks involved to charge you for making the transfer.
Important note on withdrawals: These days, it’s almost universal that a casino will request identification documents from a player before they make a withdrawal to any method. This is part of their licensing agreement and AML directives . They’re not trying to get out of paying you, they just need to abide by increasingly strict anti-money laundering regulations.
Which Online Casinos Accept Bank Transfer?
As one of the most long-standing deposit methods used at online casinos, most iGaming venues do accept bank transfers. Some online casinos might support only deposits or withdrawals using bank transfers. It’s worth checking that if you plan to use the method to fund your account.
All the casinos listed on this page accept bank transfers. We’ve also vetted them for security, fairness, and enjoyability to ensure our visitors get a great gambling experience. Keep visiting back to stay up to date with any new bank transfer casinos serving the Indian market.
Are Bank Transfer Casinos Safe?
As mentioned, all the bank transfer online casinos listed on this website are safe to use for Indian players. They all have licences from reputable international authorities , such as the UK Gambling Commission or the Malta Gaming Authority. In addition, we’ve checked to make sure the venues we list securely store whatever personal details they hold using the latest encryption techniques. You can play at all our recommendations with confidence.
It’s worth noting that bank transfers are generally a more secure payment method for a number of reasons. Firstly, you don’t actually need to enter any sensitive details with the casino. Even when withdrawing, you only give details that allow people to pay into your account.
With payment methods like VISA, MasterCard, or even e-wallets, you have to provide the casino with details that could potentially leave your accounts vulnerable to hackers. Although iGaming providers go to massive lengths to ensure that they employ the latest encryption techniques to protect account details, this is albeit minor still a potential security flaw.
Why Use Bank Transfer at Online Casinos?
Bank transfers have several advantages over some other payment methods. That doesn’t make them ideal for everyone though. Although we’ve touched upon these pros and cons in the rest of this article, here they are again.
Advantages of bank transfers at online casinos:
- More secure than other methods
- Doesn’t even require a bank account to make deposits
- Huge limits of the total transaction values. These will vary from bank to bank but they’re much larger than Visa or Mastercard deposit limits
Disadvantages of bank transfers at online casinos:
- Take a long time. Both deposits and withdrawals will incur significant delays, especially for international transfers. A bank transfer payment can take five days or more
- Expensive. Banks typically charge a flat rate for making a bank transfer. If it’s an international transfer this can be quite steep. This makes the method unsuitable for making smaller deposits. A $30 out of $100 deposit is clearly significant. Meanwhile, the same fee if you deposit a higher amount may be acceptable for you
- Banks can refuse to work with online casinos. With offshore online casinos operating in a debated area of the law in India, if a bank knows you are sending money to an online casino, it will often refuse to make the payment