Not a big fan of E-wallets or credit/debit cards, but want a more private means of making a casino deposit? Then a bank wire can could be the answer.
A wire transfer is a method of transferring funds from one person or organisation to another. In a nutshell, this method of payment allows users of the wire transfer facility to used cash or bank funds to send money to another person or company. Bank funds can be used when arranging these transfers online, and cash transactions are also possible by visiting the wire transfer agents office in person. There are some very credible and safe third-party agencies available commonly accepted at the online casino. They provide online casino players with one of the most accessible means of banking. It is, for this reason, why they so appealing and well-known to players worldwide.
Before using these methods to deposit casino funds, players should be aware that the fees for using these services are quite high. It is therefore advisable to always check the terms and conditions of service thoroughly before proceeding.
Wire Transfer Agents used by the Online Casinos
The following are examples of wire transfer agents used with online casinos. They include:
Moneygram is one of the most prominent and most well-known wire transfer agents across the globe. There is support for over two hundred countries, making it simple to quickly and easily send money locally and internationally. Anyone can use Moneygram from almost any location around the world, so even if it is not you’re your first choice, it is a possible backup service to use should there be problems with the primary means of depositing casino funds. Funds can take up to three days with economy service to reach the beneficiary casino.
- Western Union
Western Union was one of the earliest forms of electronic payments using telegram service to instruct payment orders. It has an excellent reputation for transferring cash. Players can use this service to fund their online casino accounts, but like all wire transfer services, it is not the fastest or most straightforward way to deposit funds at the online casino. It does, however, have the advantage of being a means of cash transfer in cases where other methods may be impossible or impractical.
Advantages of Using Wire Transfer at the online Casino
In many respects, wire transfer may not be the best option for all players to transfer funds to a casino account, but they do offer some advantages:
When it comes to the online casino, many players are security conscious on matters concerning privacy. Wire transfers give you the ability to carry out safe money transfers without having to overexposure in giving out personal and financial information.
- Wide Acceptance
From the Casino's standpoint, wire transfers are appealing. They do not consist of additional fees or intermediaries. Possible disputes and credit card chargebacks are also nonexistent.
- Worldwide Availability
The primary wire transfer agents are international and can work in almost any country by anyone. It can also deal with multiple currencies, so the money being used is no barrier as it will be converted to the currency used by the recipient.
- Ability to make large transfers
There are no limits to the amount of money that can be transferred but expect considerable fees charged on significant transactions.
Wire transfers have a track record of being safe and secure, especially when funds being transferred originate from a bank account.
Disadvantages Using Wire Transfer at the Casino
Before making use of this method to make a casino deposit, players should be aware that there are some substantial drawbacks associated with funding via wire transfer.
- It is Time-Consuming
Wire transfers are not immediate. You may have to wait for hours and sometimes day before a transfer reflects. Some players may find this discouraging.
- Restrained Recourse
With credit cards, there are numerous levels of customer protection when using it to purchase services and goods. Unfortunately, this is not the case with wire transfers. Once a transfer is complete, it is difficult, if not impossible, to claw back the funds.
- High Fees
Fees using the wire transfer service can be substantially higher than using many other deposit methods
- Problematic to Arrange
Wire transfer casino deposits will entail contacting customer service to obtain the transfer details (of where to send money and to give reference number). This is of course, not as straightforward and simple as other payment methods.
How Does it Compare to Other Payment Methods
Many responsible and respectable casinos accept payments by wire transfer, born out of the need for many online gambling establishments to offer a diverse range of deposit options. With that being said, some not so reputable casinos use wire transfer as the service has over the years been tarnished with the idea that these are primary methods criminals use to launder money. All in all, players need to be observant and particularly cautious if a casino offers only wire transfer, or payment methods are extremely limited, and wire transfer is one of only a few ways available.
Transfer times are quite slow, and fees tend to be very high compared to other payment methods, but its flexibility is a big plus providing a service that anyone can use to credit a casino account.