Best Bank Transfer Betting Sites in 2020

Bank transfers are the most traditional way to move your money around, but that doesn’t make them any less effective or secure than using an e-wallet. Your average betting site today offers users lots of different ways to move money into and out of their platform, but plenty of passionate punters stick to bank transfers.

With the vast majority of betting sites accepting bank transfers for both deposits and withdrawals, bank transfers are still the most flexible payment method for eagle-eyed punters on the hunt for the best odds.

New Bank Transfer Betting Sites

New betting sites get launched all the time, and most of them accept bank transfers. If you’re looking for the latest in online sportsbooks, you’ve come to the right place! Here are the newest bookies on the web that accept bank transfers.

Mobile Betting Apps and Bank Transfers

It used to be that punters needed to be using a desktop computer to set up bank transfers, but now thousands of banks across the world have iOS and Android banking apps. Similarly, so do a wide variety of betting sites, giving punters the power to place bets on the go. This means that bettors can set up their bank transfers from anywhere in the world, as long as they’re connected to the internet.

What isn’t available, however, is the instant payment integration that some ewallets offer. When using a lot of bookies’ apps, payments through ewallets like PayPal and Skrill can happen instantly, as the ewallets’ apps include that functionality. If you’re looking for the most convenient mobile payments, we recommend PayPal or Skrill, both of which are commonly accepted payment methods.

Bank Transfer Deposits and Withdrawals at Online Sportsbooks

Getting started with bank transfer betting is simple and easy, and in this section we're going to show you step-by-step guides on how to register an account, deposit money, and withdraw money using bank transfers. Make sure to have your internet/mobile banking set up and ready to go, as well as your bank account details.

Open betting account using bank transfer

 Opening an account on a bank transfer betting site is quick and easy. While each site has their own interface, the registration process is pretty similar between them.

1. Head to the site of your choice and click on “Sign up”, "Join Now", or “Register”
   
2. Fill the text fields with the required information
   
3. Click “Register” or “Sign Up” to finish the process
   
4. You’re ready to make your first deposit (see below) and start betting by bank transfer!

How to make a Bank Transfer Deposit at a Betting Site

1. Head to the betting site and open the “deposit’ page
2. Click on either “Bank Transfer” or “Bank Wire”
   
3. Input the amount you want to deposit
   
4. Copy the bank details shown to you on the next page
   
5. Head to your bank’s internet banking portal or app and log in
6. Input the account details, the amount to be transferred, and put your unique reference number in the payment details field
7. Wait for the bookie to confirm receipt of your funds

Bank Transfer Betting Site Withdrawals – A Step-by-Step Approach

1. Log in to the betting site and head to the cashier section
2. Select “Withdrawal”
   
3. Enter the amount you’d like to withdraw
   
4. Choose “Wire Transfer” or “Bank Transfer” as your payment method, and enter your account information, and click “Withdraw”
   

Bank Transfer Betting Sites Promotions

Many bookies offer first-deposit bonuses and other promotional deals and offers; however, this often excludes any funds deposited through an ewallet. Bettors using bank transfer, however, are usually eligible for all the promotions and bonuses that betting sites have to offer. We still recommend reading the bonus terms and conditions before making your deposit, though when choosing bank transfer, you’re likely to be safe!

Bank Transfer Betting Sites – Are they Safe?

The more steps involved in a transaction there are, the more opportunities there are for security breaches. When using bank transfer betting sites, bettors cut out the middleman. Your funds go from your bank account straight into theirs.

While every payment provider implements their own security measures, what these services generally do is just act as intermediaries between your bank account and the betting site’s.

High rollers, in particular, will want to make sure that any large deposits or (even better!) large withdrawals are as secure as possible, even if that means waiting a couple of days for the transaction to clear.

Types of Bank Transfers

Bank transfers come in a few different forms, with some being faster, some being cheaper, and some depending on where in the world the two accounts happen to be registered in.

Bankers’ Automated Clearing Services (BACS)

When transferring money between two UK-based bank accounts, this ends up going through BACS. BACS has been around since the late ‘60s, and has evolved over the decades to become one of the most secure clearing services in the world.

While BACS officially state that their payments take between 2-5 days, it’s relatively common for payments to be processed faster than this. All bettors need in order to make a BACS payment is a payee name, account number, and sort code, which betting sites readily provide to users when selecting “Bank Transfer” as a method of payment.

Faster Payments Service (FPS) Bank Transfer

The Faster Payments Service is a BACS-backed system for clearing money transfers as quickly as possible. Introduced in 2008, this is the newest form of Bank Transfer, with more and more UK banks offering the service, and the number of bank transfer betting sites signed up for the service growing each year.

Payments that go through the FPS clear in under two hours, meaning bank transfers are now a lot faster than your average punter would expect.

Single Euro Payment Area (SEPA / SCT Classic) Bank Transfers

This is the payment system that exists for transactions across the European market. Bettors outside the UK, but still within Europe, will have their bank transfers processed this way. Similar to BACS, all that’s needed for the transaction is the payee name, account number, and SWIFT code, which betting sites readily provide to bettors.

Transfers can take up to a full banking day to process, but many payments clear before then. Different banks have different cut-off times for same-day transfers in order to manage their workloads, though. Many banks set this at some point in the early afternoon, with transfers requested after the cut-off time being processed the following day.

Instant Credit Transfer Scheme (SCT Inst)

Much like BACS developed the FPS, SEPA developed the SCT Inst. Developed in 2017, this enables transfers to be cleared in under 30 seconds.

SCT Inst, however, is far newer than FPS is, and thus hasn’t been adopted by as many banks yet. European bettors can expect, however, for SCT Inst payments to become the European standard over the next few years, bringing instant bank transfer betting to many more people.

Bank Wire Transfers

Bank wire transfers are used when transferring money from the UK to an account outside the UK, and are similar to SEPA payments in some ways.

All you need is the recipient’s IBAN, payee name, and either a BIC or SWIFT code. Due to time differences and things like national holidays, these can sometimes take a few days, but are generally resolved quickly. Take a look at our full post on Bank Wire Transfer Betting Sites. Although similar, there are differences!

Advantages of Bank Transfer for Betting

There are a number of reasons that bettors might want to make Bank Transfer their primary payment method on betting sites:

✅ Safety - Bank transfers are an extremely safe and secure way to move money from one account to another. In addition to that, every single transaction is logged and transparent, meaning punters have access to records of every payment into and out of their account.

✅ Minimal fees - The vast majority of bookies don’t charge any transaction fees of their own for bank transfers. There are also a lot of types of bank transfers (e.g. BACS and local transfers) where banks don’t charge any processing fees either. With no middleman such as an e-wallet, this means that players withdrawing funds through bank transfer betting sites won’t be charged any fees by an intermediary either.

✅ No need to register for any new services - You already have a bank account and a way to access and move your money around. When using bank transfer as your primary payment method, you don’t need to sign up to any new services, or remember any new passwords. You don’t need to prove your identity again, or do any of the things that come with signing up to a new service that handles your money. You’re already good to go.

✅ Higher limits for high rollers - The biggest advantage of using Bank Transfers, however, is that most bookies have much higher limits on deposits and withdrawals with this payment method than most others. While you might be limited to withdrawing £5,000 when using other payment methods, that can go all the way up to £150,000 with bank transfer, which is perfect for those big wins!

✅ Accepted by the vast majority of bookies - Bettors will be hard-pressed to find betting sites that don’t accept bank transfers as deposit and withdrawal methods. Many of the benefits listed above apply to the bookies too, and cutting out the middleman streamlines the process for many betting sites, and reduces the fees that need to paid as well as the external restrictions placed on them.

Drawbacks to Bank Transfer for betting sites

There are far fewer drawbacks to using sports betting bank transfer than there are advantages. However, everything has its pros and cons. The main two drawbacks to bank transfer as a payment/withdrawal method are:

❌ Bank Transfers can take longer than other transaction methods

While there are bank transfer methods which are almost instant, most bank transfers tend to be slower than most other methods of deposit, and sometimes withdrawal. When using bank transfer betting sites, it’s important to remember that you might have to wait a few hours to a few days for the transfer to be processed by both the banks and the bookie.

❌ Some bookies impose higher minimum deposit values

While the higher limits are the main benefit of using bank transfers, the higher minimum deposit values that some betting sites implement could be the biggest drawback. While minimum deposit value with a credit card might be as low as £2, it could be as high as £20 when using bank transfer as your payment method

Bank Transfer Fees

Different banks and different bank transfer types each have their own fees, and we recommend checking with your bank before transferring any funds. Where punters are in luck, however, is that a number of transfer types have very low fees, or even no fees at all.

BACS transfers, for example, are free for customers when transferring funds within the UK. STC Classic transfers also tend to be free, but some country combinations could incur small fees of under €5.

Bank Wire transfers, however, can be quite costly. Depending on the country combination, bettors could end up paying up to £25 in processing fees.

The vast majority of bookies don’t charge any of their own fees for bank transfers, which means that many punters will be able to deposit and withdraw funds without paying any fees at all when using Bank Transfer Betting Sites.

Why bettors still love Bank Transfer Betting Sites

Many of the most experienced bettors swear by bank transfer betting sites. With all the benefits to be found using Bank Transfer Betting Sites. Between the higher deposit and withdrawal limits, the free deposits and withdrawals, and the fact that bank transfers keep getting faster, there’s a lot to be said for them.

The added security is also a huge draw to most bettors. Bank transfers are safer than they’ve ever been before, and punters can rest assured that their money is going exactly where they intend it to.

High rollers, in particular, are fans of Bank Transfer Betting Sites. The ability to make bigger deposits, and massive withdrawals in single, free transactions is especially attractive to them.

Alternatives to Bank Transfer on Betting Sites

There’s no such thing as a perfect payment method, and for those punters who aren’t keen on Bank Transfer Betting Sites have plenty of other options too. From eWallets, to payment intermediaries, to more traditional methods, punters always have choices.

The main alternatives we recommend are:

• Trustly
• PayPal
• Skrill
• Credit Cards

Bettors should keep in mind, though, that each of these methods have their own speeds and fees associated. For those looking specifically for speed, we’ve drawn up the handy table below.

Trustly

Trustly is a Sweden-based online payments service. The platform has been fully optimized for betting, and is a payment method accepted by tons of bookies. Transactions are instant, meaning there’s no waiting times. Read our full article on Trustly for more info!

PayPal

PayPal is one of the most widely used ewallets in the world, and certainly in the UK. Transactions are instant, secure, and usually just involve a number of clicks or taps. It’s highly likely that most bettors will already have a PayPal account, and more betting portals have started accepting PayPal in recent years. Take a look at our piece on the Best PayPal Betting Sites to see which ones!

Skrill

Skrill is another ewallet that is popular all over the world and accepted at a wide variety of betting sites. Payments are instant, and you even get a pre-paid MasterCard associated to your Skrill account. Skrill can even be used on mobile betting sites, thanks to their handy app. Read more about Skrill betting sites here!

Credit Cards

Credit Card payments are perhaps the most common online transactions, and are accepted by the vast majority of bookies. The two main benefits for this method are that (a) you already likely have a credit card, and (b) credit cards are extremely versatile and can be used for all kinds of transactions across the internet and in the real world. The most common credit cards would be VISA and MasterCard, and we’ve gone into depth on both the betting sites that accept VISA as well as MasterCard betting sites on SportsBetting24.

Bank Transfer Betting Sites FAQs