Bank transfer or Wire transfer is a way to transfer money electronically from one person or entity to another person or entity. The money goes from one bank account to another bank account. This is a common transfer option for many businesses including online gambling operators such as online casinos. It is in comparison a cheap way to transfer money but it takes between 2-5 days usually for the money to reach the account.
Bank wire transfers are one of the oldest and most common methods of send funds. Most online casinos offer this payment method as a way to make deposits as well as withdraw funds. Bank wire transfer is typically slower than other payment methods like e-wallets or cryptocurrency as there are various internal banking verification processes involved but it is always safe and reliable. The transfer fee can either be free or a small amount depending on the gambling site or the bank of the individual. Typically, international bank transfers cost more than domestic ones. Foreign exchange rates can impact the transfer fees as well if the currencies are not the same.