There are various types of bank transfers which players can use to make deposits at their favorite online casinos. Bank transfers are usually very convenient if it comes to paying a low fee when transferring a considerable amount of money. The three main types of bank transfers are:
Direct Bank Transfers
- International Bank Wire Transfer deposits/withdrawals are allowed at most online casinos. This is perfect for transferring large sums, though there could be quite a small fee (e.g. according to Bank of America charges, international transfer costs $35-$45 (outgoing) and $16 (incoming)). There is a transfer time of up to 5 days.
- Local/Fast Bank Transfer deposits are much quicker than international bank wire transfers, because of the physical location of the financial institution that the player uses. Such a transfer usually takes 3 or fewer days to clear while a standard international bank wire transfer usually clears in 5 or more days. It charges smaller fees compared to International Bank Wire transfer. For example, Bank of America charged $25 fee for sending a wire and $12 for receiving the one within the USA.
Online Bank Transfers
Online bank wire transfer is a popular method of transferring money from one bank account to another bank account, due to its simplicity and a high speed of proceeding.
- eCheck is a popular casino deposit method particularly for Canadian players. eChecks make depositing funds simple and safe. Traditionally, it takes 3-5 days to make a transaction for eCheck user; the average eCheck fee ranges from $0,30-$1,50 per transaction.
- InstaDebit is a quick and safe deposit method that Canadian players can use at many online casinos. InstaDebit charges $1,50 (€1,00) fee for making payment from online banking and $/€2,00 for transferring funds from iDebit balance to a bank account; withdrawal time is up to 5 days. InstaDebit is available in 25 countries (Australia, Austria, Italy, Japan, Sweden, etc.).
- iDeal is a popular deposit method in the Netherlands. iDeal has quickly become a players’ favorite and the 140 million transactions made using this payment method in 2013 is a testament to that. iDeal annually charges €2,500 per individual certificate holder as a licensed payment institution.