The Best Bank Transfer Betting Sites
Punters have been using bank transfers to fund bookmaker accounts for many years and this method still popular with high rollers. In our review of the best bank transfer betting sites, we will tell you which bookie offers the best value and the highest odds. If you are new to betting using bank transfer, we will explain how to do it and what are the pros and cons of using this payment method.
Betting Sites That Accept Bank Transfer
Once upon a time, almost all bookmakers would accept bank transfers. Even some high street bookies would accept them, especially for regular, high-value customers. In the online world, many bookmakers did accept them initially but have now phased out accepting them, preferring lower costing, faster methods. To save you time searching for a bookmaker that does, we have checked all the legal operators in the UK and have listed our top three in the table below;
|Bank Transfer Bookmaker||Welcome Bonus||Min. Deposit||Max. Deposit||Odds Levels||Website|
|Unibet||£40 Bonus First Bet Insurance||£20||No Limit||Up to 95.45%||Bet Now!|
|bwin||£10 Back-Up Bet||£10||£3,000||Up to 96.74%||Bet Now!|
As you can see from the table above, the three recommended betting sites give an excellent variety of options when depositing with a bank transfer. If you are betting on a budget, bwin offer the smallest minimum deposit, just £10 is needed, whereas this figure is £25 at William Hill. Although it is possible to withdraw less than £25 at William Hill if your account balance is less than this amount, you must, however, request to remove the total amount of your balance. All three offer great promotions ranging from free bets to no-lose betting on your first bet.
What do I Need to Do Before a Bank Transfer?
There is very little you need to do to prepare for making a bank transfer. You will be using your own bank’s online portal so it may be worth checking that you have these details, or apply for the facility if it is not active on your bank account.
- Step 1 Check that you have your internet banking details to hand.
- Step 2 If you don’t have Internet Banking visit your bank’s website and apply
- Step 3 Check that you have enough funds in your bank to cover the deposit.
The only other thing to ensure before you use the best bank transfer betting sites s that you have enough money in your account to cover the amount you wish to deposit. It’s also a good idea to check you don’t have any direct debits due to come out as going overdrawn can lead to dreaded bank charges!
How to Deposit using Bank Transfer at Betting Sites
Adding funds at betting sites that accept bank transfers is a two-stage process but don’t let that put you off as it is an easy process. You’ll firstly need to log-on to your online bookmaker. If you don’t already have an account, you could use one of our recommended operators. Once logged in, access the account section and select deposit.
- Log-in to your bookies’ account The first step in depositing funds is to log in to your online sports betting account. Once done, choose the account section and select deposit. [1/3]
- Choose bank transfer You will now see a list of available deposit methods, click on the icon that says bank transfer [2/3]
- Access your internet banking The bookmaker will display all the information that you will need to complete the bank transfer. Log on to your internet banking and use the information you have been given to complete the deposit. [3/3]
In the deposit options, select bank transfer and the bookmaker will display all the information you need such as the bookmaker’s Name, Beneficiary Bank Name, Beneficiary Bank Address, Beneficiary Account, Bank Sort Code and your online bookmaker account number. Either make a note of these details or open another tab and access your bank’s internet banking. Log in and create a new payment using the details given to you by the bookmaker. Enter the amount you wish to deposit and confirm the transaction.
How to Withdraw with Bank Transfer
There may be a lot involved in depositing funds at a bank transfer betting site, but the process isn’t that difficult as the steps you need to take are laid out at the bookmaker, the same is true for requesting to withdraw winnings, it becomes second nature when you have done it once. Access the account section or ‘My account’ at your bookmaker and select the bank transfer withdrawal option and enter the amount you wish to withdraw. You now need to enter your bank details. You will need to enter the full name of your bank in the bank name field. Now enter your personal information which includes the account holder’s name details, your bank account number along with your sort code. Finally, enter the amount you wish to withdraw and confirm.
Bank Transfer Fees at Bookmakers
Despite a bank transfer being a relatively expensive method for the operators, the good news is that none of the three recommended sites we feature has decided to pass on these costs to the punter. Depositing and withdrawing are free for the customer no matter how much you put in or take out.
While it is great news that none of the bookmakers charges for transactions, the same may not be the case with your bank, which may charge you for depositing and withdrawing. Each bank is different so you would need to confirm this with the bank or building society that you use.
Advantages of Betting with Bank Transfer
To help you decide if bank transfer gambling is for you, we have collated what we believe are the highs and lows of this payment method. First up, we tell you the good things, what makes this method better than others? Why should you consider using this when there are so many other options out there?
Details not Shared with the Bookmaker
The simple fact is that the more you share your card details online, the risk of your details being compromised increases. This isn’t just true when using betting sites but any transactions online or not. Therefore using your online banking portal reduces this risk significantly, you control the transaction, and you benefit from the security measures that your bank employs.
No Charges From the Bookmaker
As we have discussed earlier in our review, none of the best bank transfer betting sites will charge a single penny for either depositing or withdrawing when using bank transfers. This compares well against other payment methods, especially e-wallets who often charge a small fee to use them and while the fees are not overly excessive, they can add up over the lifetime of using them.
Ideal for High Rollers
Many of the less popular payment methods we have reviewed impose quite heavy restrictions on the amount you can deposit and withdraw at the online sports betting sites. There are no such concerns when using bank transfer bookmakers, with some operators, such as Unibet having no restrictions to how much you can pay in or take out – making this an ideal choice for high-rollers.
- Safe and Secure
- No Charges from Bookmakers
- Trusted by Companies
- High Deposit and Withdrawal Amounts
- Transaction Times
- Not Universally Accepted
- Two Stages to Deposit
- Your Bank May Charge
Disadvantages of Gambling with Bank Transfers
It has been so far, so good with betting sites that accept bank transfers. We like the security and safety that this method offers as well as the fact that the bookmakers make no charge for using this method to bet. However, it’s not all good news, and we list a couple of areas that we feel are not the best elements, and there are better options out there to consider.
Funding your online betting account by bank transfer is one of the most secure ways to pay in terms of deposits and withdrawals, but this comes at the cost of speed. This payment method is one of the slowest for both depositing and withdrawing with only cheque betting taking longer. The time to process transactions ranges from 1-4 working days at Bwin, 3-5 working days at William Hill and 1-3 working days at Unibet. Working days, of course, do not include weekends or bank holidays.
Possible Charges From Your Bank
While none of our recommended bank transfer bookmakers charges you for choosing this payment option for deposits and withdrawalas, the same may not be true about the bank that you use. A fee can depend on which method of transfer you use. A standard transfer takes between 1-5 working days; however, you can speed up the process by choosing a Swift transfer (takes 1-3 working days) or a CHAPS (Clearing House Automated Payment System) which can complete your transaction in as little as one business day. These alternative methods are likely to attract charges.
Legality and Safety using Bank Transfers
Performing a bank transfer to pay for goods and services is one of the safest and most secure ways to pay and has been trusted by organisations for over a hundred and fifty years. Banks, as we know, have the most sophisticated fraud detection systems available and all transactions are encrypted to ensure your details are safe from prying eyes.
As you use your bank’s internet banking platform to fund your account when using bank transfer betting sites, the bookmaker never has access to your bank account, nor do you ever disclose your sensitive financial information to the operator. As a result, even if the bookmaker suffers a data breach, they do not have your financial data.
A Short History of Bank Transfers
In our payment method reviews we like to give you a bit of background information about the company who run the service, with bank transfers there isn’t just one company who offers the facility, there are thousands. Bank transfers are also called wire transfers (especially in America) and take this name as requests for money were sent over the telegraph network from one office to another. When first used in 1872, the operators would use passwords and codebooks to authorise the release of the funds. It’s a lot simpler when using a bank transfer bookmaker nowadays, all you need is your internet banking user name and password with most of the security processes being invisible to the user.
Alternative Payment Methods to Bank Transfers
As we near the end of our bank transfer review, you should by now have a good idea if this is a good option for your bets. However, before you decide we have a couple of alternatives, you may wish to consider. If another option interests you, you can read our comprehensive review on that payment method.
A highlight of bank transfer betting sites is the fact that you do not need to share credit or debit card information; this can also be achieved by using an e-wallet. Recommended ones include Neteller and Skrill. A bonus is that the deposit and withdrawal timeframes are much shorter. If using your bank account directly is vital, PayPal is highly recommended, you can fund your PayPal account using Trustly which enables you to fund directly from your bank but in a fraction of the time of a bank transfer.
Conclusion – Is Bank Transfer Betting Worthwhile?
The chances are that if you are considering betting sites that accept bank transfers, it is because you have a specific need or reason to do so. And while there are some excellent benefits about using a bank transfer, such as security and being in control of the transaction with no third party involved, there are also many negatives.
Why William Hill Is Great for Bank Transfer Bettors Large Maximum Deposit Excellent Odds Wide Range of Markets Great Mobile App Read our William Hill review
Time scales are very long, potentially taking weeks to deposit and withdraw your funds, there is also the real possibility of charges being levied by your bank. It is also becoming increasingly challenging to find the top bookmakers who will accept this payment method with many phasing the bank transfer option out. The simple fact is that other options can give you all the benefits of bank transfers but also address the weaknesses. Therefore, unless you absolutely need to use bank transfers, there are better ways to fund your online sports betting accounts.
FAQ’s About Bank Transfer Betting
We aimed to make out guide to bank transfer gambling the most comprehensive and accurate guide as possible. To help us in our quest, we have searched online to find out what punters are asking about this payment method. We list these questions and answer them below;
How Long Does it Take to Deposit and Withdraw?
Even in perfect conditions both depositing and withdrawing using bank transfers take a while, and this length of time does vary between different bookmakers. For depositing, 2-5 working days is the average, and this increases to 3-7 working days for withdrawal requests. As this figure is working days, it will take longer at weekends and bank holidays. You can find individual timeframes for our recommended sites here.
What is the Maximum Amount I Can Deposit?
The amount you can withdraw at online sports betting sites that accept bank transfers varies from site to site. This payment method is one of the few that is popular with high-rollers as some bookmakers do not impose any restrictions on the amount you can deposit with them. More information is available in our review.
Will I Be Charged for the Bank Transfer?
While none of our recommended online sports betting sites will charge you for either depositing or withdrawing funds, your bank may charge you for the transfer. As this varies at different companies, you would need to contact the bank or building society that you use. There are different types of transfers, and some are more expensive than others, especially if you wish to fast-track the transaction. We cover this in more detail in our fees section.