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Wire Transfer – Casinos That Accept Wire Transfer
A wire transfer is the movement of funds from one bank account to another. This deposit and withdrawal method has been the longest existing of all casino banking methods.
In the context of withdrawing funds at online casinos it is transfer of funds from the online casino’s bank account to your bank account. The name wire transfer goes back to the 1870s when the transfer instructions were given using the national telegraph network.
Today a bank wire transfer is carried out electronically. Furthermore, they are governed by federal regulation. Wire transfer is one of the most secure real money withdrawal and casino payment method at online casinos.
Unless you are wagering in bitcoins, wire transfer is one of the two default withdrawal options at US online casinos, the other being check payment. In fact casinos that accept wire transfer accomodate both the high roller and regular player. Here we outline the advantages and disadvantages of wire transfers to bet on casino games. Additionally we list all the best USA casinos that accept wire transfer as a banking method.
Online Casino Bank Transfer Deposit and Withdrawal
As compared to check payment, wire transfer is much faster. The actual wire transfer happens in real time. Given the traffic in the clearance system this could mean a few hours. The time from the request to the credit in your account is variable and can be about 3 days after pending period.
This is because usually the online casino will confirm the transfer request to its bank and after your bank receives the money it has to be routed to your account. The other advantages are that no credit card banking details are required and the system is absolutely secure and reliable. It functions similar to Western Union minus the middle man or third party
Instant Bank Transfer Casino Costs
Wire transfer is perhaps the costliest withdrawal method. Casinos that accept wire transfer may or may not charge a processing fee, but will definitely recover the charges it pays to its bank from you.
Your bank will also charge you for the transfer. Some US online casinos may bear this cost for its VIP players. Others may limit one free wire transfer withdrawal per month. You may need to clear this issue with customer support.
You will have to give your bank account details to the online casino and some players are not comfortable with this.
Online Casino Wire Transfer Withdrawal
When you want to make a withdrawal at your US online casino using the wire transfer option follow these steps:
Log in and access the cashier.
Choose the withdrawal option and from the methods displayed select Wire Transfer.
Fill in your personal details. These include bank name, bank address, IBAN, SWIFT code, your account number and home address.
You will also have to enter the amount that you want to withdraw. Carefully fill in this section care to avoid careless errors.
The IBAN and SWIFT codes uniquely identify your bank and branch and enable the transfer to that branch. These numbers should be available on the documents the bank has given you like check books. If not, you can obtain them from the bank. Please make sure that there is no error in giving this information.
Wire Transfer Casino Withdrawal Time
Make sure that the amount is within the minimum and maximum limits specified for wire transfers by the online casinos. Also make sure that the amount does not exceed the withdrawal balance in your online casino account.
Your bonus balance is not withdrawable. Complete the steps given on the screen. After the pending period is over the online casino will initiate the wire transfer.
Normally US banks send a text message or e-mail to confirm that the amount is received in your account. If you do not have this arrangement with your bank then you will have to check online or with them to ascertain that the funds have been received.
From wire transfer and check payment, the former is definitely the more advantageous option even if it comes with a cost. The time for check payments to be realized are much longer with greater uncertainties.
Wire Transfer FAQs
Can casinos wire transfer winnings?
Yes casinos online do wire transfer your winnings. You just have to provide your bank account details and verify your identity with the casino before any online casino wire transfer withdrawal request is approved.
How do online casinos payout?
Online casinos payout using the same method you use to deposit. So choose a method that’s convenient and has the best withdrawal time for you from one of the many easy withdrawal online casino options.
How do you pay at a casino?
Casinos have a variety of deposit methods you can use to fund your gambling games. Wire transfers are the the most common way to deposit although the funds are not instantly cleared. If you prefer faster methods, you can use a credit or debit card, bitcoin and gift cards.
What happens if you don’t report gambling winnings?
If you’re receiving your casino winnings via wire transfer, chances are the IRS already knows you have money in there that you haven’t reported. You are not required to pay taxes on all your winnings. Each state has different benchmark amounts where taxes begin to apply. It’s your responsibility as the player to report your winnings and remember you can claim gambling losses in most states.
What online casino has the fastest payouts?
The deposit and withdrawal method you use is the biggest factor in how fast you get your payout. Bitcoin and electronic wallets are the fastest withdrawal methods paying out in under 48 hours and in some instances in 24 hours after the withdrawal request is approved.