Direct Bank Transfer Betting Sites

This method of deposit functions as a bank-to-bank transfer, as cleared funds in the customer’s bank account are electronically sent directly to the account of the sportsbook. In addition, the customer can also choose to pay by cash or check at their own bank or any branch office of the recipient’s financial institution.

In this article, we’ll be taking a look at the practice of direct bank transfers, including some of the positives and negatives of the service. While we don’t list any specific direct bank transfer betting sites, we’ll also discuss what you should look for before Sportsbook an account with one of these virtual gambling destinations. 

Why Choose Direct Bank Transfer for Your Betting Site Deposits

There are numerous reasons to recommend direct bank transfer betting sites, and this section is devoted to some of the more common selling points. If you’ve been sitting on the fence about whether or not to use such a deposit method, hopefully this information will help you make up your mind. 

Safety is a major benefit of this service, as the money is going straight from one bank to another. While it doesn’t guarantee that a casino or sportsbook is going to deliver the services that they’ve promised, the customer can at least be assured that their funds are going to be safely delivered to their online account. 

In order to perform this sort of transaction, the person or business receiving funds must give the sender their sort code and bank account number. While this might seem like too much personal information to some, keep in mind that it doesn’t allow for immediate access to someone’s bank account. In order to do that, they would also need their security details and banking password. 

If you’re using a sportsbook that has its bank account in the United Kingdom, you can send them money without incurring any additional service charges. The same applies if you’re receiving money, as UK domestic transfers are free for both parties. 

Convenience is another bonus, as modern technology allows such transactions to be made without constantly dropping by your bank. You can pay at your financial institution if you want, but it’s not a requirement. 

Direct Bank Transfer Betting Sites – What to Look for Before You Deposit

In order to put together a list of direct bank transfer betting sites, you’ll first need to determine which sportsbooks or casinos accept this method of payment. Some sites list it at the bottom of their homepage among various other methods of deposit and withdrawals, but you may also have to visit the cashier’s page to verify if it exists. 

Another item to look for before making a deposit is where the sportsbook or casino is licensed. Jurisdictions such as the Isle of Man and Gibraltar are known to be among some of the most reliable, as they pay close attention to the performance of gambling companies within their control. And while sportsbooks licensed by Costa Rica and Netherlands Antilles/Curacao can still provide quality service, those governments are often more interested in collecting an annual licensing fee than actually providing quality oversight. 

The most important data to gather involves the actual performance of the sportsbook, especially in regard to payout speed and the quality of odds. The best books bend over backwards to get payments to their customers as soon as possible, and their odds are always competitive with industry leaders. If your chosen site seems to fall short in either of these departments, you’d be better off looking for somewhere else to gamble. 

How Do Other Betting Site Deposit Methods Compare to Direct Bank Transfer? 

While direct bank transfer betting sites offer another reliable option for gamblers, it’s hardly the fastest or most convenient. If you use the same bank as your sportsbook or casino, deposits and withdrawals can be transferred within an instant, which makes the service the equal of e-wallets or prepaid cards. 

For different banks that are both members of the Faster Payment Service, the waiting time can run into hours. If the banks differ and one or both are not members of the FPS, then it can take up to three days for a payment to be processed. These times put direct bank transfers behind a number of the leading services. 

Domestic transfers within the UK are free, but fees are likely to be incurred for any other transaction. The most expensive of these involves international transfers with non-GBP currency.