Wire Transfer Casino Bank Guide for Canadians
Online casino gambling has become one of the most popular past times in this technological era. There are many reasons that warrant this growth in popularity such as its easy accessibility. Most individuals can get connected to the internet by the touch of a button either using their laptops, iPhones or tablets. This Online business space has also helped in the emergence of numerous payment systems most notably the wire transfer system also known as the SWIFT transfer. This method is considered safe, speedy and secure. SWIFT transfers are extremely convenient and you will find that a lot of gambling establishments now offer instant wire transfer casino facilities for their clientele.
- It is one of the safest ways for paying online
- Wire transfers do not give out private and personal account information
- It is very convenient and can be accessed at any time and anywhere across the globe
How To Use Wire Transfer At Online Casinos
Wire transfer casinos are slowly becoming very popular mostly in European countries as the SWIFT transfer rules there are more flexible. Players and online casinos love this method as it is convenient. A wire transfer can be accessed at any time of the day or night by a simple phone call or message from an account holder. This payment method is also becoming a darling for many high rollers because they can do away with carrying large amounts of cash, which is bulky and attracts a lot of unwanted attention. This method does not require a lot of steps in order to process, and the money can reflect in a players’ account within a couple of hours depending on the type of wire transfer they use.
The steps required to make a wire transfer to a casino normally begin with contacting the establishment and alerting them of your intention to place a deposit. You will then be provided with the instant bank transfer details, which you need to give to your bank in order to complete the wire transfer. This can either be done in person or through a phone call. Once all the necessary fees have been paid, the money will immediately be wired into the account. Once the amount transferred has been verified and the username confirmed, your account will be debited. This process can sometimes take less than an hour.
Opening a Wire Transfer account
If you are interested in getting a wire transfer, then there are a couple of things that you must know. You can perform a wire transfer through any normal bank account, but you must ensure that you inform the bank to set up an online banking profile to enable a transfer. On your online profile, you will find options for SWIFT transfer where you will be required to set up a limit of the amount you can send in an international transaction. There are certain amounts that will require you to alert your bank before transferring, normally anything above 5,000. Once your account has been set up, you will be ready to carry SWIFT transfers from the comfort of your home. You can easily pay for online casino games using this method. Every time that you carry out a transfer through your online account, it is important to call your bank in order to confirm if it was successful.
Using Wire Transfer in Canada
The exchange of money using wire transfer has been around for ages and with the advent of modern technology, it has improved greatly in its efficiency and security. Many businesses have embraced this system especially the online casino business. Wire transfer casinos can be found in every part of the world including Canada. Canada is a member of the Society for Worldwide Interbank Financial Telecommunication. This society gives unique identification codes for both financial and non-financial institutions known as SWIFT codes used in wire transfers. Wire transfer in Canada is sophisticated and one of the most preferred ways is through the use Interac e-Transfer Service.
Fees and Limits
All business transactions attract certain fees and limits, whether you are transacting for pleasure, or buying some important goods and services. Using a wire transfer is no different. The instant wire transfer casino fees and limits will differ depending on certain factors. If you are transferring money between two branches of the same bank, you are likely to pay very little fees as compared to someone who is carrying out an international transfer. The time it takes to process a wire transfer could also determine the fees and limits charged on a transaction. In Canada, the fees range between $30 and $80. This variation is due to the amount and currency fluctuations, as well as, taking into account other charges from intermediary banks or the receiving bank.
Benefits and drawbacks of using Wire Transfer
Paying for instant wire transfer casino accounts has numerous advantages and the most obvious reasons are that these payments are fast, safe and very convenient. The other major advantage is that most wire transfers that occur at online casinos are not tied down to strict rules such as those that are imposed on online financial services and banking institutions. Giving out personal details is a major deterrent for most individuals who pay using other methods such as bank or credit cards. With a wire transfer, there is no need to give out your personal details. As much this method may look more appealing for online casino gambling, it is important to consider some of its shortcomings. SWIFT transfer is not as fast as advertised. This is because a transaction may take between three to seven days to process, whereas there are other methods of online payment that can give you instant access to cash.
The wire transfer method of casino payment can also prove to be very costly to users, and that is why it is mostly preferred by high rollers. The costs involved can fluctuate between no charges to costs that are equivalent to hundreds of dollars depending on differences in currency, and the laws applied in a particular region when it comes to international transfers. There are other inconveniences of the system that may be ignored but can affect the system’s efficiency for casino use. Such as the fact that it is not legal in some regions such as the United States. Another problem is that the system relies on the internet, and hence a slow connection from either side could cause major delays. The advantages of this system clearly outweigh its shortcomings, and that is the reason why it will soon be the most popular method of payment at the casino.
- Wire transfers are very safe and convenient
- Wire transfers for online casino gambling are not tied down to strict banking and online financial institution laws
- Wire transfers are not as fast as advertised and take between three to seven days
- The fees and charges made for wire transfers can sometimes be very high
Online Casino Wire Transfer Facts Review
A wire transfer is a method of electronically transferring funds from one account to another. This electronic transfer of funds is normally done using a common network, such as Fedwire that is popular in America, and SWIFT that is the global benchmark used mostly in European countries. The wire transfer method of funds transfer is considered to be one of the safest modes available today. It is easy to use, and always ensures that clients’ details are as minimally exposed as possible. This could explain its growing popularity in online transactions. One of the more popular areas it is being used in is online Casino gambling.
Wire Transfer FAQ
What documents are required for a wire transfer?
The only document that may be required during a wire transfer is an identification document for the casino before they withdraw money after a transfer. The basic information that is required from both parties for a wire transfer to be successful are the bank account details, branch number, institution number, swift code and a routeing number.
How Fast are wire transfers?
A wire transfer is a method of payment that is used around the world by many companies and individuals to send money to one another. It is considered to be a relatively fast way of sending money. A wire transfer can take less than an hour but on average it takes three to seven days. This is due to certain circumstances such as whether the transaction is local or international. Local transfers take a shorter time.
What is the process of using a wire transfer at a casino?
Making an online payment using a wire transfer at a casino is not a complicated process. The player must first inform the casino of their wish to use a wire transfer to deposit money. If the casino is agreeable, they will provide the player with their bank details to facilitate the transaction. The player then contacts their bank and the transaction is made to the casino account. Once the Casino has verified the amount deposited and the players’ username they will immediately deposit money into the player’s casino account.
How safe is it to use wire transfer?
Wire transfer is one of the safest ways to deposit money anywhere. This is because this system does not expose the customers’ information to third parties, who would use it for scams. There is very little regulation which ensures that clients’ transactions are anonymous with little or no personal details required.
Why should I choose to use wire transfer for online casinos?
Most people who play slots, blackjacks or even poker online have various reasons for doing this. The main reasons are privacy and convenience. When choosing a payment method for online services privacy and convenience should be at the top of your list. You should also consider safety; the payment method that combines these three qualities is wire transfer.
Online Casino Tips At Casinoguides.ca
To get the most reliable and timely tips on every aspect of the online casino space in Canada, make a point to visit Casinoguides.ca. This site will enlighten you on the most popular online casinos available including their bonuses and promotions. They will also go a step further and thrown in other important information such as the payment methods available at every casino, like which casinos take wire transfers.