If you’re looking to use a bank transfer betting site, you’ve probably noticed that almost every bookie falls into that category. Luckily for you, our expert reviewers have sorted the wheat from the chaff for you and put together a list of the best bank transfer betting sites by category.
Plus, we show you how to make betting deposits and withdrawals via bank transfer. And we walk you through all of the pros and cons of using bank transfer betting sites.
Available to new customers only. Make a qualifying deposit of £5* or more and claim the offer within 30 days of registering your account to qualify for 300% of that amount in Bet Credits, up to a maximum of £30* in Bet Credits. Once released your Bet Credits will be held in your account balance and are non-withdrawable
To release your Bet Credits for use, you must place qualifying bets to the value of your qualifying deposit (capped at £10*) and they must settle within 30 days of claiming the offer. Only qualifying bets settled after claiming the offer will count towards this requirement.
Apple Pay, Google Pay, PayPal, paysafecard and all other prepaid credit and debit cards, where available, cannot be used for either your qualifying deposit or any subsequent withdrawal of returns from Bet Credits stakes unless we have successfully verified an accepted form of your Identity Documents and you have entered a Postal Verification Code (PVC), or we have successfully verified two accepted forms of your Identity Documents. See full Terms and Conditions for details.
Bets placed must meet certain conditions to count towards the release of your Bet Credits:
– Must contain at least one selection at odds of 1/5 (1.20) or greater.
– In market/fixture combinations that only have two or three potential outcomes (for example Soccer Full Time Result), where you have placed bets on more than one potential outcome, either pre-match or In-Play, only the outcome with your highest cumulative stake will count.
– Where a stake has been partially Cashed Out, only the remaining active stake will count.
– Where a bet has been edited using our Edit Bet feature, only the new stake on the new bet will count.
– Fully Cashed Out, Instant Games, Gaming, void bets or In-Play bets which are settled as a push will not count.
Your Bet Credits are non-withdrawable, and Bet Credits stakes are not included in any returns. Any returns from Bet Credits placed will be added to your Withdrawable Balance. Bet Credits cannot be used on certain products, offers/promotions and bet types. See full Terms and Conditions for details.
Your Bet Credits will be forfeit and removed if your account is inactive for 90 consecutive days.
The code CD365 doesn’t change the welcome offer.
Registration required.
*or currency equivalent
T&Cs, time limits and exclusions apply.
#ad
Terms&Conditions
Open account offer. New Customers Only. Bet £10 & Get £30 in free bets. Sign-up, deposit between £5* and £10* to your account and bet365 will give you three times that value in free bets when you place qualifying bets to the same value and they are settled. Free Bets are paid as Bet Credits. Min odds/bet and payment method exclusions apply. Returns exclude Bet Credits stake. Registration required. Time limits and T&Cs apply.18+ begambleaware.org • #ad*or currency equivalent
£40 Money Back as Bonus on Your First Bet + £10 Casino Bonus.
The minimum qualifying deposit is £10.
You must wager your bonus money 3x to make it withdrawable at odds of 2/5 (1.40) in the Sportsbook, 50x for Casino.
Your first bet is not considered to be a qualifying bet if betting on horse racing, greyhound racing, trotting, and/or virtual sports
Unless forfeited the sportsbook bonus must be wagered before using the casino bonus
The bonus will expire after 7 days of opt-in.
No deposit required for NI customers
This offer applies to your first bet only. If you win your first bet the bonus has been used. If you place a system bet only the first settled column of £10 or higher will count towards the bonus.
New Customers Only. 18+, Further T&Cs Apply.
Terms&Conditions
18+ begambleaware.org. New customers only. Min deposit £10. Money back as bonus if first bet loses. Wagering requirements: sportsbook 3x at min. odds of 1.40 (2/5), casino 50x. Unless forfeited the sportsbook bonus must be wagered before using the casino bonus. Bonus expires 7 days after opt-in. No deposit required for NI customers. Call 08081699314 to claim. Full T&Cs apply.
United-kingdom
Gibraltar
Malta
Schleswig-holstein
Spanien
Accepted Players
Canada
Apps
Bonus Details
100% of your first deposit up to $200 + $10 Casino Bonus!
Minimum qualifying deposit: $10
Maximum bonus amount: $200
Payment method restrictions: Deposits made with PayPal, Entropay, Neteller, Paysafecard, and Skrill are not eligible for this promotion
Sports Wagering requirement: 6x bonus amount
Odds restrictions: 1.50 (1/2)
Time limit: Wagering requirements must be met within 60 days
Users must opt-in to this promotion
Cashed out and voided bets do not contribute to the wagering requirements for this offer
Once the bonus has been activated, users may not withdraw any funds until the wagering requirements have been completed
This promotion is only available to users residing in Canada
18+, New Customers Only
Terms&Conditions
New Customers only • $10 min deposit • The bonus will be applied once the full deposit amount has been wagered at least once with cumulative odds of 1.5 or greater • Wagering must be cleared within 60 days • This offer may not be combined with any other offer • Casino Bonus valid for selected games only • Bonus wins capped at $500, exc. JP wins • To withdraw bonus & related wins, wager 30 x (bonus amount) • Wagering requirements vary by game Full T&C’s apply
Customers must place a qualifying bet to activate their Free Bet bonus
Qualifying Bet Minimum Odds: 1.75 (3/4) or higher
Free bets will expire 7 days after receipt, even if not activated
All returns from bets placed with a free bet do not include the free bet stake
The Free Bet cannot be used to place multi-line multiple bets (e.g. Trixie’s, Patents, Yankees etc.)
If a free bet is used on a selection that becomes voided, the free bet will be returned to your account
A redeemed Free Bet will not count towards qualification to view streamed events
18+, New Customers only, residents of the UK only
Full T&Cs apply
Terms&Conditions
New customers only. Min Deposit: £10. First deposit matched up to £10. 1 x wagering at odds of 1.75+ to unlock Free Bet. Debit Card deposits only. Deposit method restrictions apply. This offer is valid for 7 days from your new account being registered.18+. BeGambleAware.org. Bet The Responsible Way Terms apply #ad
Costa RicaJapanSpainSwedenMexicoChilePeruArgentinaBoliviaColombiaEl SalvadorGuatemalaHondurasNicaraguaPanamaParaguayDominican RepublicUruguayVenezuela
Apps
Bonus Details
Key Terms:
Only available to new William Hill customers in the UK or Ireland;
Customers must sign up using Promo Code P30;
Only one ‘new account offer’ per person, household address, email address, debit/credit card number, or IP address is allowed;
Duplicate accounts will not qualify for this offer;
This Promotion is not available to new accounts depositing funds with Entropay, Paypal, Neosurf, iDeal, Paysafe, Neteller, Skrill, ecoPayz, Kalibra/Postpay;
Offer will run from 00:01 on 12 November 2019 until 23:59 on 31 March 2020;
Only available for customers who deposit in GBP pounds (£) sterling or Euro (€) currencies;
Qualifying bet must be placed with a unit stake of £10/€10 or greater;
For bets placed as an Each Way bet, only the win part for the bet will count towards to offer;
Qualifying bet must be placed at odds of 1/2 (1.5) or greater;
Qualifying bet must be placed on the William Hill Sportsbook site only;
Qualifying bet must be struck using funds from your main balance;
Qualifying bet can be pre-match or in-play;
Cash in my bet is not available for bets placed that trigger a free bet as part of a promotion until at least one selection has been resulted or is In-Play. At this point, Cash in my bet will become available as long as all the other availability conditions are met;
Free bets will be paid as 2 x £15/€15 denominations;
Free bets can be used on any sportsbook product (excluding tote, pool, and lottery bets);
Free bets will be available for 30 days;
Free Bet is non-refundable and may not be withdrawn;
Free Bet stake will be excluded from any winnings;
Free Bet cannot be partially redeemed;
Cash in my bet will be available for bets placed using a free bet (minus the value of the initial free bet);
Player, country, currency, Market restrictions and terms apply.
Terms&Conditions
New customers using Promo Code P30 only, min £10/€10 stake, min odds 1/2, free bets paid as 2 x £15/€15 (30 days expiry), free bet/payment method/player/country restrictions apply.
Cashed Out or Partially Cashed Out bets are not considered to be qualifying bets
Void bets, Special Markets, BetBoosts, and Enhanced Accas are not considered to be qualifying bets
Free Bet Rules
Free bets can be used on any sports
Your free bet can be used on a whole bet, or a number of smaller bets
Profit Limit: Amount of stake
Free bets will expire within 7 days
No Wagering Requirements apply to this promotion
18+ New Customers only
Residents of Canada only
Full Terms and Conditions apply
Terms&Conditions
New Customers opt in, deposit and bet up to $100 at odds of 2.00 or greater within 7 days of registration, excludes cashed out bets. Matched bonus paid in free bets; 7 day expiry. Offer valid from 09:00GMT on 23/12/2019. Payment cards only. Geo Restrictions. T&Cs Apply See Below. Please Gamble Responsibly. 18+ .
Costa RicaItalyJapanPortugalGermanySwedenMexicoBrazilChilePeruArgentinaBoliviaColombiaEl SalvadorGuatemalaHondurasNicaraguaPanamaParaguayDominican RepublicUruguayVenezuela
Apps
Bonus Details
Welcome Bonus of 100% up to $/€122 + 22 Bet Points.
The minumum qualifying deposit is $/€1.
This bonus is available to sports customers only.
The bonus amount must be wagered 5 times on accumulators of at least 3 selections, with minimum odds of 1.40 per selection.
Residetns of Croatia, Hungary and/or Serbia are not eligible for this bonus offer.
18+, New Customers Only.
Best Bank Transfer Betting Sites by Category
There’s no shortage of bank transfer betting sites out there, which is great news, but also makes it a lot harder for punters to choose a bookie that’s right for them. Luckily for you, our experts have made it a lot easier. All you need to do is pick which betting feature is most important to you, and click “Claim” to head straight to the betting site and sign up.
£40 Money Back as Bonus on Your First Bet + £10 Casino Bonus.
The minimum qualifying deposit is £10.
You must wager your bonus money 3x to make it withdrawable at odds of 2/5 (1.40) in the Sportsbook, 50x for Casino.
Your first bet is not considered to be a qualifying bet if betting on horse racing, greyhound racing, trotting, and/or virtual sports
Unless forfeited the sportsbook bonus must be wagered before using the casino bonus
The bonus will expire after 7 days of opt-in.
No deposit required for NI customers
This offer applies to your first bet only. If you win your first bet the bonus has been used. If you place a system bet only the first settled column of £10 or higher will count towards the bonus.
New Customers Only. 18+, Further T&Cs Apply.
Terms&Conditions
18+ begambleaware.org. New customers only. Min deposit £10. Money back as bonus if first bet loses. Wagering requirements: sportsbook 3x at min. odds of 1.40 (2/5), casino 50x. Unless forfeited the sportsbook bonus must be wagered before using the casino bonus. Bonus expires 7 days after opt-in. No deposit required for NI customers. Call 08081699314 to claim. Full T&Cs apply.
Cashed Out or Partially Cashed Out bets are not considered to be qualifying bets
Void bets, Special Markets, BetBoosts, and Enhanced Accas are not considered to be qualifying bets
Free Bet Rules
Free bets can be used on any sports
Your free bet can be used on a whole bet, or a number of smaller bets
Profit Limit: Amount of stake
Free bets will expire within 7 days
No Wagering Requirements apply to this promotion
18+ New Customers only
Residents of Canada only
Full Terms and Conditions apply
Terms&Conditions
New Customers opt in, deposit and bet up to $100 at odds of 2.00 or greater within 7 days of registration, excludes cashed out bets. Matched bonus paid in free bets; 7 day expiry. Offer valid from 09:00GMT on 23/12/2019. Payment cards only. Geo Restrictions. T&Cs Apply See Below. Please Gamble Responsibly. 18+ .
Deposit and bet £10 or more to receive a £30 free bet.
A qualifying bet is a ‘real money’ stake of at least £/$10 placed on any sports markets
Min odds 1/2 (1.5). Exchange bets excluded.
Free bets credited within 24 hours after qualifying bet settlement and expire after 30 days
Free bet stakes not included in returns
Bets placed using free bets as the stake (in full or in part) will not qualify.
Offer excludes customers who make their first deposit using any method other than Credit/Debit Cards or Applepay.
Offer excludes customers who have not verified their phone number by SMS.
,
The offer excludes the following bet types: Canadian, Goliath, Heinz, Lucky 15, Lucky 31, Lucky 63, Patent, Super Heinz, Trixie & Yankee.
Full T&C’s apply – Gamble Responsibly .
Terms&Conditions
New Customer offer. Place a min £10 bet on the Sportsbook on odds of min 1/2 (1.5), get £30 in Free Bets. Rewards valid for 30 days. SMS verification required. Only deposits via cards will qualify. T&Cs apply. Please Gamble Responsibly
Costa RicaJapanSpainSwedenMexicoChilePeruArgentinaBoliviaColombiaEl SalvadorGuatemalaHondurasNicaraguaPanamaParaguayDominican RepublicUruguayVenezuela
Apps
Bonus Details
Key Terms:
Only available to new William Hill customers in the UK or Ireland;
Customers must sign up using Promo Code P30;
Only one ‘new account offer’ per person, household address, email address, debit/credit card number, or IP address is allowed;
Duplicate accounts will not qualify for this offer;
This Promotion is not available to new accounts depositing funds with Entropay, Paypal, Neosurf, iDeal, Paysafe, Neteller, Skrill, ecoPayz, Kalibra/Postpay;
Offer will run from 00:01 on 12 November 2019 until 23:59 on 31 March 2020;
Only available for customers who deposit in GBP pounds (£) sterling or Euro (€) currencies;
Qualifying bet must be placed with a unit stake of £10/€10 or greater;
For bets placed as an Each Way bet, only the win part for the bet will count towards to offer;
Qualifying bet must be placed at odds of 1/2 (1.5) or greater;
Qualifying bet must be placed on the William Hill Sportsbook site only;
Qualifying bet must be struck using funds from your main balance;
Qualifying bet can be pre-match or in-play;
Cash in my bet is not available for bets placed that trigger a free bet as part of a promotion until at least one selection has been resulted or is In-Play. At this point, Cash in my bet will become available as long as all the other availability conditions are met;
Free bets will be paid as 2 x £15/€15 denominations;
Free bets can be used on any sportsbook product (excluding tote, pool, and lottery bets);
Free bets will be available for 30 days;
Free Bet is non-refundable and may not be withdrawn;
Free Bet stake will be excluded from any winnings;
Free Bet cannot be partially redeemed;
Cash in my bet will be available for bets placed using a free bet (minus the value of the initial free bet);
Player, country, currency, Market restrictions and terms apply.
Terms&Conditions
New customers using Promo Code P30 only, min £10/€10 stake, min odds 1/2, free bets paid as 2 x £15/€15 (30 days expiry), free bet/payment method/player/country restrictions apply.
Available to new customers only. Make a qualifying deposit of £5* or more and claim the offer within 30 days of registering your account to qualify for 300% of that amount in Bet Credits, up to a maximum of £30* in Bet Credits. Once released your Bet Credits will be held in your account balance and are non-withdrawable
To release your Bet Credits for use, you must place qualifying bets to the value of your qualifying deposit (capped at £10*) and they must settle within 30 days of claiming the offer. Only qualifying bets settled after claiming the offer will count towards this requirement.
Apple Pay, Google Pay, PayPal, paysafecard and all other prepaid credit and debit cards, where available, cannot be used for either your qualifying deposit or any subsequent withdrawal of returns from Bet Credits stakes unless we have successfully verified an accepted form of your Identity Documents and you have entered a Postal Verification Code (PVC), or we have successfully verified two accepted forms of your Identity Documents. See full Terms and Conditions for details.
Bets placed must meet certain conditions to count towards the release of your Bet Credits:
– Must contain at least one selection at odds of 1/5 (1.20) or greater.
– In market/fixture combinations that only have two or three potential outcomes (for example Soccer Full Time Result), where you have placed bets on more than one potential outcome, either pre-match or In-Play, only the outcome with your highest cumulative stake will count.
– Where a stake has been partially Cashed Out, only the remaining active stake will count.
– Where a bet has been edited using our Edit Bet feature, only the new stake on the new bet will count.
– Fully Cashed Out, Instant Games, Gaming, void bets or In-Play bets which are settled as a push will not count.
Your Bet Credits are non-withdrawable, and Bet Credits stakes are not included in any returns. Any returns from Bet Credits placed will be added to your Withdrawable Balance. Bet Credits cannot be used on certain products, offers/promotions and bet types. See full Terms and Conditions for details.
Your Bet Credits will be forfeit and removed if your account is inactive for 90 consecutive days.
The code CD365 doesn’t change the welcome offer.
Registration required.
*or currency equivalent
T&Cs, time limits and exclusions apply.
#ad
Terms&Conditions
Open account offer. New Customers Only. Bet £10 & Get £30 in free bets. Sign-up, deposit between £5* and £10* to your account and bet365 will give you three times that value in free bets when you place qualifying bets to the same value and they are settled. Free Bets are paid as Bet Credits. Min odds/bet and payment method exclusions apply. Returns exclude Bet Credits stake. Registration required. Time limits and T&Cs apply.18+ begambleaware.org • #ad*or currency equivalent
Available to new customers only. Make a qualifying deposit of £5* or more and claim the offer within 30 days of registering your account to qualify for 300% of that amount in Bet Credits, up to a maximum of £30* in Bet Credits. Once released your Bet Credits will be held in your account balance and are non-withdrawable
To release your Bet Credits for use, you must place qualifying bets to the value of your qualifying deposit (capped at £10*) and they must settle within 30 days of claiming the offer. Only qualifying bets settled after claiming the offer will count towards this requirement.
Apple Pay, Google Pay, PayPal, paysafecard and all other prepaid credit and debit cards, where available, cannot be used for either your qualifying deposit or any subsequent withdrawal of returns from Bet Credits stakes unless we have successfully verified an accepted form of your Identity Documents and you have entered a Postal Verification Code (PVC), or we have successfully verified two accepted forms of your Identity Documents. See full Terms and Conditions for details.
Bets placed must meet certain conditions to count towards the release of your Bet Credits:
– Must contain at least one selection at odds of 1/5 (1.20) or greater.
– In market/fixture combinations that only have two or three potential outcomes (for example Soccer Full Time Result), where you have placed bets on more than one potential outcome, either pre-match or In-Play, only the outcome with your highest cumulative stake will count.
– Where a stake has been partially Cashed Out, only the remaining active stake will count.
– Where a bet has been edited using our Edit Bet feature, only the new stake on the new bet will count.
– Fully Cashed Out, Instant Games, Gaming, void bets or In-Play bets which are settled as a push will not count.
Your Bet Credits are non-withdrawable, and Bet Credits stakes are not included in any returns. Any returns from Bet Credits placed will be added to your Withdrawable Balance. Bet Credits cannot be used on certain products, offers/promotions and bet types. See full Terms and Conditions for details.
Your Bet Credits will be forfeit and removed if your account is inactive for 90 consecutive days.
The code CD365 doesn’t change the welcome offer.
Registration required.
*or currency equivalent
T&Cs, time limits and exclusions apply.
#ad
Terms&Conditions
Open account offer. New Customers Only. Bet £10 & Get £30 in free bets. Sign-up, deposit between £5* and £10* to your account and bet365 will give you three times that value in free bets when you place qualifying bets to the same value and they are settled. Free Bets are paid as Bet Credits. Min odds/bet and payment method exclusions apply. Returns exclude Bet Credits stake. Registration required. Time limits and T&Cs apply.18+ begambleaware.org • #ad*or currency equivalent
Customers must place a qualifying bet to activate their Free Bet bonus
Qualifying Bet Minimum Odds: 1.75 (3/4) or higher
Free bets will expire 7 days after receipt, even if not activated
All returns from bets placed with a free bet do not include the free bet stake
The Free Bet cannot be used to place multi-line multiple bets (e.g. Trixie’s, Patents, Yankees etc.)
If a free bet is used on a selection that becomes voided, the free bet will be returned to your account
A redeemed Free Bet will not count towards qualification to view streamed events
18+, New Customers only, residents of the UK only
Full T&Cs apply
Terms&Conditions
New customers only. Min Deposit: £10. First deposit matched up to £10. 1 x wagering at odds of 1.75+ to unlock Free Bet. Debit Card deposits only. Deposit method restrictions apply. This offer is valid for 7 days from your new account being registered.18+. BeGambleAware.org. Bet The Responsible Way Terms apply #ad
Deposit and bet £10 or more to receive a £30 free bet.
A qualifying bet is a ‘real money’ stake of at least £/$10 placed on any sports markets
Min odds 1/2 (1.5). Exchange bets excluded.
Free bets credited within 24 hours after qualifying bet settlement and expire after 30 days
Free bet stakes not included in returns
Bets placed using free bets as the stake (in full or in part) will not qualify.
Offer excludes customers who make their first deposit using any method other than Credit/Debit Cards or Applepay.
Offer excludes customers who have not verified their phone number by SMS.
,
The offer excludes the following bet types: Canadian, Goliath, Heinz, Lucky 15, Lucky 31, Lucky 63, Patent, Super Heinz, Trixie & Yankee.
Full T&C’s apply – Gamble Responsibly .
Terms&Conditions
New Customer offer. Place a min £10 bet on the Sportsbook on odds of min 1/2 (1.5), get £30 in Free Bets. Rewards valid for 30 days. SMS verification required. Only deposits via cards will qualify. T&Cs apply. Please Gamble Responsibly
Bank Transfer Betting Deposits
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.
How to Make a Bank Transfer Deposit
Head to the betting site and open the “deposit’ page.
Click on either “Bank Transfer” or “Bank Wire”.
Input the amount you want to deposit.
Copy the bank details shown to you on the next page.
Head to your bank’s internet banking portal or app and log in.
Input the account details, the amount to be transferred, and put your unique reference number in the payment details field.
Wait for the bookie to confirm receipt of your funds.
Bank Transfer Betting Site Withdrawals
Log in to the betting site and head to the cashier section.
Select “Withdrawal”.
Enter the amount you’d like to withdraw.
Choose “Wire Transfer” or “Bank Transfer” as your payment method, and enter your account information, and click “Withdraw”.
Bonus Eligibility
One other reason that plenty of punters still like to use Bank Transfers for betting is that punters are almost always eligible for bonuses. With each bookmaker out there restricting which payment methods can be used when claiming a bonus, the fact that Bank Transfers are almost universally accepted makes it a lot simpler for punters.
We recommend reading bonus terms and conditions in full before committing, though, as some bookmakers may state that only a single deposit method is eligible for a particular bonus. Plus, with how long bank transfers can take, you’ll want to make sure that your qualifying deposit will arrive in time for you to be able to claim your bonus.
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.
Is it Safe to Use Bank Transfer with Betting Sites?
One of the strongest arguments to use bank transfers with betting sites is that they’re extremely safe and secure. Banks are, obviously, subject to strict laws and regulations. This means that when you instruct your bank to send funds to a specific account (like a bookmaker’s), then there’s no chance that the funds could be intercepted by any third parties.
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.
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 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 e-wallets offer. When using a lot of bookies’ apps, payments through e-wallets like PayPal and Skrill can happen instantly, as the e-wallets’ 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.
Pros
Extremely safe
Low fees
High limits
Universally accepted
Cons
Slow
Higher minimums
Advantages
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
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:
❌ Slower than most other 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.
Alternative Payment Methods
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 e-wallets, to payment intermediaries, to more traditional methods, punters always have choices.
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 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 are no waiting times.
PayPal
PayPal is one of the most widely used e-wallets 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.
Skrill
Skrill is another e-wallet that is popular all over the world and accepted by almost all betting sites. Payments are instant, and you even get a pre-paid MasterCard associated with your Skrill account. Skrill can even be used on mobile betting sites, thanks to their handy app.
Debit Cards
As of 14th April 2020, customers from the UK are no longer allowed to make credit card transactions at online betting sites
Debit card payments are perhaps the most common online transactions and are accepted by the vast majority of bookies. The two main benefits of this method are that (a) you already likely have a debit card, and (b) debit cards are extremely versatile and can be used for all kinds of transactions across the internet and in the real world.
The most common debit 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.
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.
Why Punters 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.
Bank Transfer Betting Sites FAQs
Are there any transaction fees with Bank Transfer Betting Sites?
Plenty of transfers are completely free transactions, as well as transactions with minimal fees. Some types of transfers and some country combinations, however, can have higher processing fees, so always check with your bank before transferring funds! Take a look at our guide to bank transfer fees for more information.
Will I have to wait ages for the Bank Transfer to be processed?
Bank transfers have been getting faster and faster each year, and most transactions will clear within 24 hours today. The country your bank and the betting site’s bank are located in, however, could change that. Some transfers can take several days, though this is much less common now than it used to be.
Which bookies are Bank Transfer Betting Sites?
The short answer: Almost all of them! The vast majority of betting sites accept Bank Transfer as a deposit and withdrawal method, and give their users much higher deposit and withdrawal limits when using Bank Transfer. With so many bank transfer betting sites out there, things can get a little overwhelming. We would suggest checking back to our list of the best bank transfer betting sites above. These are some of the most trustworthy online bookies out there. You have our word!
How do I make bank transfer betting deposits?
Luckily, making betting deposits via transfer is easy. All you need to do is copy the betting site’s banking information and enter it into the form your bank has you fill out when setting up a transfer. For anyone who’s new to this, we recommend taking a look at our illustrated step-by-step guide to bank transfer betting deposits. You’ll be up and running in no time.
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