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Bank Wire Casino Banking Method Review

By: Russell Potvin

Bank Wire Casinos

A bank wire casino payment method or wire transfer is a very secure way to fund your account. Payments are received instantly and when you use this method to make a deposit, you identity is confirmed and the funds you send are guaranteed. This is a very secure payment method and one where you bank is also involved in the transactions. The potential for fraud using this casino payment method is minimal. You will also find a bank wire being referred to as a bank transfer, electronic funds transfer or EFT.

There are plenty of Canadian online casinos accepting bank wire as a payment method. In fact, most online casinos accept this as a deposit and withdrawal method. This means you have a secure way to withdraw your funds and there is no hassle involved. When you use the bank transfer method to deposit funds into your online gambling account you will also be able to us it for your withdrawals. This is an advantage for those who don't want to use credit cards or e-wallets. One of the disadvantages of using this method is the delay in getting your cash. The security staff at online casinos have to go through a vetting process for every single payment and because of this there can be up to a 5 day delay in getting your wire transfer. You will often see this listed in the casinos payment terms and conditions so be sure to check this out.

Another disadvantage to using the bank wire casino payment method is fees. There are fees on your cashouts and these can cost up to $35 for larger sums of money. Most online casinos won't charge this amount but be sure to check before you select this option for your payout.

Pros and Cons for this Payment Method

As with all payment options that online gambling sites list, there will be advantages and disadvantages. For bank wires, the advantages include:

  • Instant deposits
  • Accepted by nearly all online casinos
  • Very secure

There are also some disadvantages to using this payment method and these are mostly related to withdrawals. These include:

  • Withdrawals can take up to 72 hours or more
  • Fees are charged on withdrawals

Bank Wire Online Casinos

As mentioned, most online casinos will offer this payment option and this includes most of the top software providers too. Microgaming, Playtech, RTG and more all allow for EFTs and this means that you can choose from some of the best online gambling sites there are. For Canadian players, this is a great choice if you don't mind having to pay fees for your withdrawals. You won't find many sites that offer a bank wire casino bonus, but if you're dealing with larger cash values, you'll likely be receiving the VIP treatment and be getting high roller perks that are far greater than an additional percentage on your deposits to increase you bankroll and prolong your gaming time.