Last Updated on 18-09-2022
Fact checked by: Ella Miller
Bank transfers are the most secure ways to send and receive money. We’ll show you how easy it is to find an online bookmaker with bank transfer.
One of the problems which you might face with bank transfers is that it takes a little bit of time to reflect in your accounts. However, it remains a popular method for most punters to deposit and withdraw. Keep reading to see the best betting sites with bank transfer in India.
Bank transfers can be done in multiple ways, including by physically visiting the bank, through the bank’s dedicated mobile app and the official website of the bank, but completing bank transfers online is the most reliable and easy method.
For a withdrawal, all you need to do is go to the payments section of the operator or Online Bookmaker with Bank Transfer and choose the payment method of bank transfer. A new window will open where you can enter the amount and bank details, then click submit.
The advent of technology and automation in India has made it such that bank transfers are now globally accepted and easy to make. Most of the Best Betting Sites with Bank Transfer in India accept bank transfers which can also be done on your bank’s mobile app. Bookmakers with Bank Transfer have their own rules as to what forms of bank transfer they accept. However, any delay in timing is not solely dependent on the operator. When it comes to bank transfers, they generally take a little bit of time. Most deposits by bank transfers can take 2-3 working days to reflect in your account. Payouts can take about 8-10 working days.
If your transfer is taking longer than the expected time, for example 15 days, there are chances that there has been some problem in the process. Often Online Bookmaker with Bank Transfer do not accept certain currencies and the exchanging of the currency may be causing the delays. In such cases, you have to go to the customer service of the bookmakers with Bank Transfer as well as ask your bank officials to understand the situation and come up with a solution.
Before going through an Online Bookmaker with Bank Transfer, you have to verify your details for the bank. The bank will have you complete the KYC (Know Your Customer) verification process. This helps them prevent scammers and underage customers from participating.
The process involves submitting one of the following:
They will also ask you for proof of address. For this you can provide:
If you are going to use a legitimate Bookmaker with Bank Transfer, you may have to go through a similar verification process. The verification duration depends on the bank authorities. Some will process within 24 hours, but be prepared for the possibility of it taking longer. It should not take more than 2 days.
Bank wire transfers originated in the 19th Century with Western Union. It was a formal telegraph service which turned into financial services and started offering a number of different services. It would accept the payment from a person and then, transmit it or wire it with the help of passwords and passcodes. Thus, it became known as wire transfer. Wire transfers were quite popular during the Industrial Age but then came the age of telecommunications. In the telecommunications age, wire transfers became revolutionized and it became EFT or Electronic funds transfers. Since then, it has become one of the trusted methods of transferring money across the world.
Compared to the West, India started using the internet and smartphones much later though wire transfer has been present for a long time. Now, the Indian market has smartphones. The usage and ownership of these smartphones and the internet have increased since 1990s and internet banking has been very recently accepted by the Indian masses as well. The advent of NEFT, RTGS, IMPS, and UPI is relatively new and is being heavily promoted for usage by the RBI. The cashless form of payment has since been used by a lot of big companies, launching a new digital age for India.
If you’re looking for an easy way to start your gambling days, bank transfers can be a safe option. Bank transfers are quite secure as it goes through several banks through a secured network called SWIFT, if you are making an international transfer. Bank transfer also allows a two-way process. As a punter, you can use a bank transfer to either withdraw or deposit money to your gambling account. On top of that, most of the Best Betting Sites with Bank Transfer in India accept some form of bank transfer, which is great since many operators can impose limitations on e-wallets.
Another great thing about bank transfer is that unlike most other payment processes, operators do not issue an upper withdrawal limit. However, convenience of Bank transfers is the biggest advantage. You don’t have to transfer the money to any e-wallet and you can transfer it from your mobile phone too. However, there are fees applicable through the whole process since the usage of the bank network can end up charging you. If you’re willing to gamble your money on the Best Betting Sites with Bank Transfer in India, you can bet bank transfers can keep your money safe.
Bank transfers are easily the most popular way to pay. While there are online surcharges and possible frauds that can occur, they are still one of the most versatile payment methods. As a newbie, you will find it extremely easy to use a bank transfer on your preferred Sports Betting Sites with Bank Transfer. The process is also more secure than most other payment methods such as Skrill, Paypal, Neteller, and Credit cards etc. Bank transfers come directly under the NPCI and RBI, which means that the transactions are legitimate and safe. The transactions are also recorded and easy to track. When done right and legitimately, money is less likely to disappear without a trace.
Most Bookmakers with Bank Transfer that are legitimate will have you verify your accounts which can assure you that your money is safe. International bank transfers are generally done through SWIFT or Society for Worldwide Interbank Financial Telecommunication – an international network that connects several banks. Hence, it is the reason why fees for bank transfers are high. The bank information is encrypted and hence, when it passes through these lines, the bank keeps all your information secured. Hence, bank transfer remains a very secure means of transfer.
Answer: It is up to the specific operator whether or not you will be required to use the same payment mode for deposits and withdrawals. However, using the same method for deposit and withdrawal is always better as it is easier, more efficient, and supports the Anti Money Laundering Act. Plus, operators may ask for double verification if you use different payment methods.
Answer: An operator could block your account for multiple reasons, such as creating multiple accounts, not having verified your account properly, attempting to register as a minor, or abusing the bonus. If none of these reasons apply to you, reach out to customer service, and they’re sure to help you out.
Answer: Bank transfers, when conducted internationally, go through a series of banks through a network called SWIFT. Since each of these banks charge a special fee against this transfer, bank transfers charge a fee.
Answer: Here are some of the top mistakes to avoid when you make a deposit:
Answer: Which payment modes will qualify for a bonus is based on the bonus policy of the respective operators. Bank transfers may get you a special bonus if the betting site allows you to. Most Best Betting Sites with Bank Transfer in India may come up with special offers for bank transfer, however, in most cases welcome bonuses are not provided when bank transfers are used. Remember to check the terms and conditions carefully of any bonus you are considering so that you can accordingly plan your payment method.
Bank transfers are one of the most commonly used forms of payment around the world and are safe as well as convenient, resulting in there being many Best Betting Sites with Bank Transfer in India.
However, bank transfers are a bit slow and the verification process of bank transfers can be lengthy, so if you are looking for instant deposits and payouts you might want to consider eWallets or debit/credit cards. Nevertheless, if you do not want to apply for a new eWallet or credit/debit card, you can easily fund your betting journey with bank transfers on the top operators and Sports Betting Sites with Bank Transfer.
In addition to Bank transfer payment option information wetten.com also provides other payment information and online casino reviews.