Bank Transfer Betting Sites: Bookmakers that Accept Bank Transfers in 2024
In this article you will find out which bookmakers in November 2024 allow you to fund your betting account by using bank transfers.
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New customers only | Commercial content | 18+ age limit | T&Cs apply
Although perhaps not as popular as they once were in the past, bank transfers remain a reliable method to transfer funds to your betting account. If you think this payment method might be a good fit for you, don’t hesitate to register with an account with the best bookmakers from our ranking. They all guarantee safe, secure transactions. For more information on your deposit options with bookmakers, consult the complete list of payment methods used by sports betting sites.
Bookmaker Betting with Bank Transfer: Absolute Security
Bank transfers are one of the oldest and most recognizable payment methods, dating back to the very beginning of online betting. Funds are transferred from one account to another by entering information such as an IBAN, full name of the recipient and a six-digit sort code. These detailed steps make it one of the most secure ways to transfer money to your betting account.
Bank transfers have fallen out of favor in the world of online sports betting in recent years. This is mainly down to the sometimes tedious procedures involved and the fact that they often take significantly longer than other payment methods. Nonetheless, they remain one of the safest and most reliable ways to make a payment online. That is why it is still common to see this type of transaction offered by bookmakers.
Depositing via Bank Transfer for Your Sports Bets: Secure but Obsolete
By requesting a transfer of money from one bank account to another, bank transfers are one of the most secure ways of making a deposit with an online bookmaker. Unfortunately, its main drawback is the time it takes to complete as well as the number of steps involved.
Most bookmakers have the processing time for bank transfers as anywhere between one to five business days for the funds to arrive in your betting account. The rather slow processing time is the main reason why not all sports betting sites offer this option. That's why not all bookmakers offer this option, and why it's becoming less and less popular with sports bettors.
Wire Transfers: How Do They Differ from Bank Transfers?
There are a couple of key differences between a wire transfer and a bank transfer, both of which can be used to fund your online betting account. Wire transfers are performed through two financial institutions and occur over secure networks, such as the SWIFT system. They are often preferred by senders and recipients when dealing with international transactions. Bank transfers are performed solely through banks and involve the movement of funds between two accounts.
As a general rule of thumb, bank wires tend to be faster than bank transfers. A bank wire can often arrive in the recipient's account in a matter of hours or the next day at the latest. Bank transfers, on the other hand, can often take a few business days to complete, sometimes even up to five. While it may seem like a wire transfer would be the obvious choice, there are a few downsides. Wire transfers will often have a higher transaction cost, potentially 3% or more. Meanwhile, bank transfers are much cheaper, often with a flat fee attached or even free in some instances. It is also usually impossible to cancel or reverse a wire transfer in the event of an error as the processing time can sometimes even be instant. Bank transfers have more flexibility to reverse the transaction down to the slower processing time.
Both methods of transfer are extremely secure and would both be reliable choices for depositing on a bookmaker. Which you choose ultimately comes down to how importantly you rank the finer details.
How Do I Fund My Betting Account Using Bank Transfer in 2024?
To deposit money on a sports betting site via bank transfer, a few steps are required. Here's how to do it:
- Head over to the sports betting site of your choice.
- Make a note of the bookmaker's bank details in the deposits and withdrawals section.
- Go to your bank's application or to a physical branch in person.
- Set up the bookmaker as a recipient using the details provided and make the transfer.
- Wait the required amount of time (anywhere from 1 to 5 days) to receive the funds in your player account.
This 5-step process takes longer than most other payment methods but you’ll be assured maximum security. Note that the process for a bank wire is very similar to the above, with the only difference being a few of the banking details. For even faster and more convenient sports betting, SportyTrader recommends other payment methods such as credit card deposit or PayPal.
Is It Possible to Withdraw Money From a Bookmaker Using Bank Transfer?
Yes, most online betting sites will offer bank transfer as a withdrawal method for their users. There are even a few bookmakers that allow you to withdraw with a bank transfer despite not being able to deposit with it. Of course, you might come across a few exceptions of sites that don’t offer bank transfer as a withdrawal option. In these cases, the site usually has ewallet alternatives such as Neteller or Skrill.
In terms of processing time, anywhere from 1 to 5 business days are generally required, regardless of the bookmaker in question. However, an alternative payment method is gaining ground in November 2024: the instant transfer.
Withdrawal By Instant Transfer: A Significant Evolution at Bookmakers
In November 2024, a number of sports betting sites have revolutionized the way winnings are paid out with the introduction of the instant transfer. Some of the biggest names in the online betting industry such as Bet365 and William Hill now offer the ability to transfer from the player's account to the bank account in just a few moments once the withdrawal request has been approved. This is great news for punters, who can now enjoy their winnings in no time at all!
Keep in mind that the instant transfer payment method only concerns withdrawal requests, not deposits. For deposits via bank transfer, one to five business days are still required for the money to be transferred.
Bank Transfer Fees: What Are They for Online Betting?
As a general rule, bookmakers do not charge any fees for bank transfers. Whether we're talking about deposits or withdrawals, sports betting sites don't charge any commission on transactions, although there may be exceptions in specific cases.
This means that you shouldn't incur any hidden charges when transferring funds from your bank to your player account. The best advice we can give you is to consult all the information in the Deposits and Withdrawals section of your online bookmaker.
We also recommend checking with the bank that you use to confirm if there are any fees for both sending or receiving a bank transfer. It is increasingly rare that banks will charge for making a deposit on an online betting site and even more so for the withdrawal of funds. In most situations in November 2024, you won’t have to worry about incurring any additional or hidden fees with this payment method.
Is There a Minimum and Maximum Deposit Amount for a Bookmaker via Bank Transfer?
Bookmakers are free to set minimum and maximum deposit amounts which can vary based on the individual customer and the deposit method. Therefore, we can’t give you an exact figure for these thresholds, only an average.
In 2024, bookmakers ask for a minimum of €10 on average for deposits, with a maximum limit of €3,000 to €25,000, depending on the bookmaker. Once again, the best thing to do is to check the conditions presented by your sports betting site in its Deposits and Withdrawals section.
What Applications Are Available for Depositing via Bank Transfer?
You’ll find identical payment methods regardless of which device you use (computer, smartphone, tablet, etc.), to access your preferred bookmaker. So, for all of the sports betting sites in our ranking at the top of the page, you can rest assured knowing you’ll be able to use bank transfer to fund your account and thus place your bets via their mobile apps.
Don't forget that bookmaker apps have been created to make your life easier, so they offer you the same services and options as those found on the bookmakers' websites. Bank transfers are therefore also offered on the apps of the top-rated sites in our ranking.
Which is the Best Betting Site for Depositing With a Bank Transfer?
Nowadays, the vast majority of sports betting sites offer the option of making a payment via bank transfer. Here are the best in the field:
- Bet365
- Unibet
- William Hill
- Bwin
- Betfair
- Sportingbet
Is bank transfer your preferred payment method for online sports betting? Now you know which bookmakers to choose. Each allows you to deposit money securely so you’ll never miss out on the action!
In a Nutshell: Should You Use Your Bookmaker’s Bank Transfer Option to Bet Online?
While it may not be the first choice among the SportyTrader editorial team, we certainly cannot deny the advantages in terms of security and reliability. The main reasons we may look to alternatives are simply down to the amount of times it takes to receive the funds in your betting account. However, if you aren’t bothered by the deposit time then there isn’t much to criticize when it comes to bank transfers.
With all the security and encryption used by banking establishments, bank transfers guarantee you reliability at all times when making payments. This can be an assurance of peace of mind if you're a high roller or depositing a sum that is significant to you. When the sums involved exceed thousands of euros, don't hesitate to use bank transfers.
Payment methods for betting sites:
- Bookmaker payment methods - Which are best for online sports betting?
- PayPal Bookmaker: Which Sports Betting Sites Accept PayPal?
- Bookmaker Visa: Which Sports Betting Site Accepts Visa?
- Bookmaker Mastercard: Which Sports Betting Sites Accept Mastercard?
- Apple Pay Bookmakers: Which Sports Betting Sites Accept Apple Pay?
- Bookmaker Neteller: which sports betting sites accept Neteller?
- Bookmaker Skrill: which sports betting sites accept Skrill?
- Google Pay bookmaker: which sports betting site with Google Wallet?
