Bank Transfer Friendly Betting Sites
Payments by bank transfer have been around for a long time now and since the advent of the Internet, the ability to pay for goods and services and indeed, fund betting accounts, has proven particularly useful for people who either try to avoid credit or debit cards or who perhaps do not understand other more internet-friendly payment methods.
Most of the top online bookmakers will accept funding and withdrawing to a bank account via bank transfer and our team has researched the following list of companies that allow this form of funding source.
List Of Bookmakers Accepting Bank Transfers
- #1
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Bet £5 get £20
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- #2
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Bet £5 get £30
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- #3
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Bet £10 get £40
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- #4
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Bet £10 get £30
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- #5
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Bet £10 get £30
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Bank Transfers 101 – How It Works
How to deposit using a Bank Transfer?
To start the process, you need to have your bank details to hand including information such as your bank account number, your sort code and the name of the account holder.
It is important that the name of the bank account holder and the holder of the account with the betting site are the same, as accounts with different names may see the funding of the account fail.
Steps to follow:
Log in to your betting site account and visit the ‘My Account’ section and select the ‘Deposits’ option. Look through the list of available payment methods for Bank Transfer. If this is not listed, you may find that bank transfers are completed using the Wire Transfer option or similar.
After this you need to enter in the details of your bank account as well as how much you want to transfer into your betting account. Be advised that some sites only accept relatively large minimum deposits (sometimes as much as £100) using bank transfer methods.
Once you click the button to action the transfer, then the process will begin and it can take from between one and ten days for the deposit to be confirmed. When the betting site receives your deposit, you will usually be sent a notification (usually via email) to say that the funds are now in your account and available.
Some bookmaking sites offer a FastBank Transfer service which operates in much the same way as the bank transfer service outlined above, only this service often sees faster deposit times (between one and three days usually) and it also allows generally smaller minimum deposits.
How to withdraw using Bank Transfer?
If you have winnings ready to transfer from your betting account back into your bank account then you can arrange for the funds to be transferred via bank transfer or FastBank transfer (if the service is offered).
The first thing to note is that if you deposit cash using a Bank Transfer method then all your withdrawals will be processed in this way too, therefore in order to use Bank Transfer to access funds from your account, you will need to fund your account in this way.
Secondly, withdrawals via bank transfer do tend to usually incur a small charge (levied by the bank, rather than the betting site) and as such, you will need to factor this in to your calculation when working out how much to withdraw as you will need to cover the costs of the withdrawal from your betting account balance.
To transfer funds via a bank transfer, log in to your betting account and visit the My Account section and click on withdrawals. Scroll down until you find an option for Bank Transfer or Wire Transfer and click the option.
Simply enter the details requested on the screen including your total withdrawal amount, enter your site password and then click to start the transaction.
Most bank transfer withdrawals will take between two and ten days to process and be available in your bank account.
Are there any fees?
While there are no charges associated with making a Bank Transfer from your bank account into your bookmakers account, there are charges that can be levied when you withdraw.
In these cases, the charges that you will incur for the transaction will be displayed before you complete the transaction and you will need to ensure that you have the funds in your betting account in order to cover these costs as well as the withdrawal of funds itself.
As such, if you intend on withdrawing the full available balance, you may need to leave some in your account to cover the cost of the withdrawal by bank transfer.
Note: we’ve made sure that the online betting sites that take Bank Transfer we’ve listed above have minimal or no charges at all.
Alternatives Options
If you want to fund and maintain your account using Bank Transfer then the iDebit service is the most similar alternative to a bank transfer. In this case, iDebit serves as an intermediary between your bank and the betting service provider, so that you do not have to transmit your bank details over the Internet.
Using iDebit can also incur costs when you either fund or withdraw from your iDebit account to or from your bank account, although transactions between iDebit and betting sites are generally fee free.
A number of e-wallet services, such as Neteller, PayPal and Skrill offer a similar way to fund your account using an intermediary service that protects your bank details. These options are also generally faster and often much cheaper than using a bank transfer service.
The Pros and Cons of Bank Transfers for Betting
Pros
- No need to use an intermediary service, funds are transferred directly from your bank to the service provider.
- Bank transfers can see much larger sums of money transferred in a single transaction making them useful for high roller gamblers.
Cons
- Transactions take a lot longer to complete
- You have to enter your bank details for each transaction which is not the most secure form of payment online.
- Fees are incurred for withdrawals which make bank transfers a relatively expensive way to maintain a betting account.
Author: Dean Wyatt
Dean Wyatt is the founder and editor here at Acca Nation. He’s been betting sports for over 20 years and is a profitable sports trader on the exchanges.
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