Our extensive bank transfer guide covers all the essential elements of using this banking method in India. Check out the pros and cons of wire transfers in Indian online casinos so you can make deposits and start playing your favorite casino games.
Play at a Bank Transfer Casino in India
Wire transfers belong to the old-fashioned group of banking methods. Unlike modern e-Wallets, bank transfers do not need an intermediary between your bank and the casino. After all, the name of this banking method speaks for itself. But what makes a wire transfer a convenient payment gateway for Indian online casinos?
Well, the security of bank transfers is at the highest level. Indian banks are in control of these transactions, and this leaves very little room for malicious activities. On the other hand, extensive controls are time-consuming. As a result, wire transfers require a bit more time than other payment options.
Yet, the convenience of wire transfers is also an element that appeals to Indian players. The process of sending the rupees to and from a casino is simple and straightforward. Of course, you should always sign up with the best casino sites to maximize the potential of online gambling in India.
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What Makes Bank Transfer the Best Banking Method for Online Gambling?
The range of benefits provided by bank transfers is long and extensive. In a way, that’s also the reason why this banking method still manages to survive in the competitive world of online gambling. It seems that many players like to stick to the traditional systems instead of experimenting with new payment processors.
Here are some of the most prominent qualities of wire transfers in India.
Security and stability
We already said that bank transfers undergo a series of tests before they are authorized. In other words, the banks will scrutinize every deposit and withdrawal. For that reason, wire transfers are one of the safest banking methods in the Indian gambling community. Even though transactions are not anonymous, bank transfers are the best method for keeping your rupees as safe as possible. No other payment method service can offer government-backed safety infrastructure.
Fees and commissions are the nemeses of every casino enthusiast. They can take a considerable bite out of your bankroll, reducing the amount available for playing games of chance. Well, wire transfers are a cost-effective banking method, and they can help you avoid unnecessary expenses. The secret lies in the so-called fixed fees, which can let you know in advance how much money you are going to spend on a transaction. Unlike percentage-based commissions, the costs of wire transfers are predetermined by bank policies.
Convenience and ease of use
The convenience of bank transfers is also one of their strong sides. After all, what could be more natural than typing in an account number and entering the amount you wish to transfer? As easy as it gets. For that reason, novice players in Indian casinos often choose wire transfers as their preferred banking method. Nonetheless, more experienced players also tend to choose this payment system because of its intuitive nature. It is easy to open up an account and start depositing money through wire transfers in India.
One of the reasons why experienced casino-goers use wire transfers is the fact that this banking method allows high limits. In other words, you can deposit large sums of money through this payment system. Why is this so important? Well, high rollers often face problems when funding their accounts because other methods impose much lower limits. Plus, most other methods will take a percentage of the amount. On the other hand, bank transfers come with fixed fees. For that reason, pro players often decide to deposit via wire transfers in Indian online casinos.
How to Set up an Account for Bank Transfer at Online Casinos?
Unlike other banking methods, bank transfers are available at every bank in India. So, no matter if you use ICICI Bank, AXIS Bank, or the Bank of India, you should be able to make a wire transfer. But before you try to deposit funds into your gambling account, it is necessary to learn how to set up bank transfers as a banking method.
So, if you don’t have a bank account yet – it’s time to get one. Head over to your nearest Indian bank and fill in the necessary paperwork. Your account should be up and running in no time. After that, find the Cashier section on the casino website. From the list of options, select bank transfer and confirm. At this point, certain formalities will await you.
For instance, you will need to provide information about your bank account. In most cases, players need to enter SWIFT/BIC and IBAN code. Also, ID verification may be necessary, depending on the casino.
As a rule of thumb, the verification process lasts from few hours and up to a few days. However, modern casino operators are quite efficient when it comes to this process. So, you should be able to make deposits in a short while. The faster you fund your account – the sooner you can jump into action and play colorful casino games in some of the best online casinos in India.
How to Bet at Online Casinos with Bank Transfer?
The rise of e-banking is making wire transfers more convenient than ever. Back in the days, players had to go to the bank and request a transaction in person. Nowadays, you can make wire transfers from the comforts of your living room.
Either way, the process is similar, and you will need to follow a particular set of instructions. But don’t worry, we got you covered. We will take you through the process in our step-by-step guide. Here are the basics of making deposits and withdrawals with a bank transfer in India.
One of the notable advantages of using wire transfers is the fact that banks will allow you to transfer INR directly. So, no pesky conversion fees will take a cut out of your bankroll. However, banks will often charge a certain sum for wire transfers, even if the casino forfeits their commission.
When it comes to the waiting period, bank transfers in India can take a while. In some cases, you could be waiting for up to 10 days to see your money in the account. On average, the deposits take 2-3 days to complete.
Bank transfers in Indian online casinos are often the subject of controversy. Due to unclear legislation, banks often block transactions from gambling sites. Of course, this action frustrates the players, who then decide to use other methods for cashing out their winnings. Nonetheless, you can try using wire transfers for withdrawals.
Some of the benefits of using bank transfers for cashing out are the high limits. In most cases, the maximum amount you can withdraw through this banking method is 5.000.000 INR. Yet, the restrictions vary from one casino to another, so check these elements before signing up.
Can you Bet Online at a Mobile Casino App and use a Bank Transfer?
Indian banks are keeping up with the trends, so you should be able to make wire transfers from a mobile device. As we all know, smartphones have entered into every aspect of our lives, and financial transactions are not an exception.
Also, Indian players can make bank transfers by using mobile casino apps. Almost every casino establishment in India offers an intuitive and responsive application. Players need to find the download link somewhere on the casino website and install the app. All in all, wire transfers are available on iOS or Android devices.
Bank Transfer Customer Service
We already said that unclear regulations often cause inconvenience in online gambling in India. Well, these issues are the most common reason why players need assistance with wire transfers.
However, there is no universal customer support for bank transfers in India. Every bank offers separate customer service, and not all banks provide high levels of quality. Yet, the majority of them provide several means of communication that you can use to contact support. Also, FAQ sections can help with some of the common problems.
Likewise, players can reach out to their casinos if they experience issues with bank transfers. Indian casinos also offer a wide range of channels for communication, such as email or live chat.
The History of Bank Transfer in Gambling
The first bank transfers in online casinos took place at the very start of the virtual gambling world. In other words, the history of bank transfers could be traced back to the mid-1990s. Of course, the expansion of online casinos during the 2000s saw the rise of wire transfers as well.
When it comes to India in particular, instant bank transfer as a banking method first appeared in 2008. Even though the international transactions included a hefty fee, players did not give up. At the time, wire transfers were the only available banking method, alongside credit/debit cards.
Later on, modern technologies brought the rise of e-banking and mobile banking. As a result, Indian players can now make wire transfers quickly and efficiently.
Is Bank Transferring Reliable for Online Gambling in India?
Since bank transfer is a banking method facilitated by the Indian banks, there is no reason to doubt its credibility. After all, the major Indian banks support this payment system. On top of that, wire transfers are easy to make and the process is swift and convenient. In addition, high rollers can benefit from the use of this banking method because bank transfers are cost-effective.
Yes, almost all of them accept bank transfers. Besides, every bank will offer bank transfer as a payment option.
Yes, you can. Bank transfer is a recognized banking method, which you can use at almost every casino in the world.
Bank transfer is a payment method that goes through in-depth scrutiny by Indian banks and financial authorities. So, yes, it is safe.
No, you cannot. Bank transfer is a method that requires a valid bank account to make the transactions.
Bank transfers may not be the best option for withdrawals. Yet, you can cash out the winnings by choosing Bank transfers from the list of options at the Cashier section.
Online gambling is kind of legal in India, but the government allows it as long as you play on offshore online casino websites.
Bank transfer is a banking method that comes with fixed costs. In other words, banks will charge a commission for their services.