Although bank transfer is far from being the most popular payment method in India, the number of bank transfer casinos is constantly growing. The main reason behind this phenomenon is that online gambling sites in this day and age try to add as many payment methods as possible, so having a bank transfer is a rather logical thing to do.
In our guide, find out what wire transfer is, how to use it, and what are the best bank transfer casino sites on the market!
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What is Bank Transfer?
First things first! Bank wire is a payment method based o banking networks that spread worldwide. Thanks to the network, banks can communicate different actions such as deposits, withdrawals, refunds, etc., via specific codes called IBANs, or international bank account numbers.
Essentially, a player will make a deposit at an online casino via wire transfer, and banks will use their IBANs to navigate the transaction.
Bank Transfer Casino Banking Guide
Before you play the first game at bank transfer casinos, you have to be sure you know what you are doing. As always, CasinoHEX India takes you step by step and makes sure you understand what it takes to successfully play at a bank transfer casino.
Opening Bank Account
The most essential thing to play on such websites is having a bank account that supports bank transfers. The online bank transfer can be executed only by players who have bank accounts.
The bank account can be opened:
- in a bank
If you choose to open a bank account online, you will have to fill out the online registration form, and wait up to 48 hours for it to become active. Also, be ready to send additional documents your bank may ask for.
If you choose to do things the old-fashioned way, your online casino bank transfer deposit account will be set up in no time. However, you will have to pay a visit to the bank and spend some time waiting in line.
No matter what option you choose, remember that you’ll have to showcase your personal ID, either in person or upload a scan or photo of it.
Bank Transfer Deposit
Now that you have your bank transfer gambling account ready, and have signed up with an online casino, you can finally make the first deposit. Most wire transfer casinos follow the same procedure when it comes to topping up.
Here is how things usually go:
- Open the casino website and log in to your balance.
- Head over to the cashier section. Choose bank transfer as your payment method.
- Enter the amount you wish to deposit. It can be no less than the set minimum.
- Submit the deposit.
- If necessary, approve the transaction by using a mobile phone banking app, SMS with a code, or a special token.
Most banks won’t set any payment limits, meaning, you’ll be able to transfer as little or as much money as you want. That being said, online casinos usually have some minimum and maximum deposit limits imposed. Find them on the casino site. That's it! Now you can start gaming!
Sooner or later, you will want to cash out. After all, that’s what bank transfer casino sites are all about – playing games, having fun and reaping the fruits of your effort! Before you ask for a withdrawal, make sure to wager the deposit, and the bonus as many times as required.
Have you already done that? Then we can proceed!
- Open the casino site and log in.
- Open the banking section and click the withdrawal button.
- Choose bank wire.
- Enter your bank account details.
- Enter the amount you wish to cash out via bank transfer.
- Wait for the money to arrive.
Fees are, unfortunately, an essential part of bank transfers. Players must be aware of the fact there are two kinds of charges that may apply to their deposits and withdrawals.
- Fees imposed by the bank – set by your banking company, bank transfer casinos have no power over them. They are mostly applied to international transactions, especially when you are on the receiving end (withdrawing). For this reason, it is good to have a casino with a bank account in India.
- Fees imposed by the casino – bank transfers ask for more manpower than any other, and therefore, tend to cost more. While the bank transfer deposit is usually free of charge, withdrawals come with a price tag attached. The fees range from reasonable, to quite high, so take a closer look before settling for a casino.
Minimum Deposit and Withdrawals
Most banks won’t set any minimum limits on wire transfers. Even so, it would be wise not to make minimum transactions, especially if there are fees involved. However, the casino will very likely set the minimum deposit limit, which will be the same as for all other payment methods.
Withdrawals at bank transfer casinos are usually higher than with other payment methods. Sometimes they are double as much, but they can also reach sky-high limits. For this reason, it is good to check the payment limits before signing up with the brand.
Other Information to Consider
Bank transfer casinos, like most others, tend to set a pending period on all withdrawals. Generally speaking, it may take anywhere between 24 and 72 hours for it to approve the payment. Then, it may take up to 5 or even 7 business days for you to get the money. Needless to say, wire transfers are not the fastest payment method around.
Regardless, there is one benefit to them, no other method has – insurance. Transferring money this way has been around for centuries and is supported by serious and reliable companies. They all have insurance, granting you to get the money if something goes wrong during the transaction. The bank’s policies may limit who and when gets a refund, and they may be terribly slow, but they do really put customers in the first place!
Play The Best Bank Transfer Casinos
CasinoHEX will introduce you to a high-quality range of bank transfer casinos so you can pick your favourites. But what are the criteria we use? And how can we be sure these casinos that accept bank transfer are really the best?
Here are some things we find relevant, and take a look into during our reviews.
Bank Transfer Casino Bonus
Every bank transfer casino we promote must have a solid range of bonuses for all players who use this method. As you probably know, casinos are entitled to put a ban on bonuses for certain payment methods.
However, our team double-checks to see you get great deals, with reasonable rollover, even if you use this traditional type of payment.
All bank transfer casinos we endorse have user-friendly payment policies. Okay. But what does that mean? Well, this means that both deposit and withdrawal minimums are set to fit every budget.
If there are any fees, they are not overwhelming, nor will they put you into a compromising position. Furthermore, the processing times are fair, and you’ll enjoy your money in no time!
Safety and Security
When it comes to bank transfer online casino payments, there’s no room to cut corners. Safety and security are of uttermost importance for all players, including you. We take a look at the casino’s license, and if it’s approved by 3rd party authorities.
Then, we check what safety systems and protocols it is using and how they apply to the end user. Better safe, than sorry!
Bank transfers are a tiny bit more complicated than using alternative payment methods, especially if you are a beginner to both the casino industry and banking. This is where reliable customer support comes in handy, and can help you complete the process without much hassle. We always like brands with good support, and so should you.
Ultimately, we have games. Although an important part of the gaming experience, they landed at the last spot for a simple reason – these days, most bank transfer casino operators have a breathtaking selection of games.
This is no longer the 2010s, but the 2020s when every site is equipped with thousands of games. At least, those we recommend are.
Wire Transfer Casino Games
Casinos with bank transfers don't impose any restrictions regarding the games you can play while using this particular payment method. They will allow you to try out the entire repertoire, with no limitations. So what are the games Indian players enjoy the most?
Teen patti, also known as Indian poker, is one of the most beloved games among players who use this method. Available in the live format, and as a standard RNG game, teen patti is action-packed and impossible to resist.
The most basic version is played with 52 cards, but it is also possible to find more elaborate variants. We strongly recommend taking a look at our teen patti guide for more information.
Is it gonna be andar? Or perhaps bahar? The andar bahar game stuns with its simplicity, dynamics and straightforward approach to gambling. Immensely popular among gamers who use bank transfers, it can be found in the table games section, or at live dealers.
Slot machines are games that need no introduction. They are vivid, colourful, and can pay more than 10,000x your bet! Also, there are one of the most represented types of games in Indian online casinos.
Fairly simple and without complicated rules, these games are a pure joy to play. Even so, we suggest taking a shot at the demo mode first, if for nothing else, then to see whether you like the game or not.
Bank wire gamers have a soft spot for live casino games. We are not sure if that’s because they are conservative, or they just jumped the bandwagon and decided to join the live gaming craze.
In addition to teen patti and andar bahar we previously mentioned, you can also play roulette, poker, blackjack, sic bo, baccarat and all sorts of table games. Recently, live gaming suppliers even expanded the range by adding live slots and game shows that are more thrilling than you can imagine.
Pros and Cons of Bank Wire Transfer Casino Sites
Are bank transfers the perfect payment method for every gamer? No, they are not. Just like most other methods, they have both good and bad sides to them, and it is upon every gamer to figure out whether it is the right transaction method for them.
CasinoHEX will provide you with an insight into all things, both good and bad, related to this payment method.
- Bank transfers are extremely safe, and are known as one of the most reliable payment methods around.
- This type of banking is available at all casinos operating in the Indian market.
- Unlike some more modern payment methods, bank transfers support both deposits and withdrawals.
- This kind of banking is rarely facing bank transfer casino bonus restrictions and supports all sorts of deals.
- Withdrawal limits are, generally speaking, higher with wire transfers than with any other method.
- Wire transfer payments toward your casino may cause trouble if you are looking for a bank loan. Customers who gamble are often deemed unsuitable for loans.
- By choosing wire transfer, you won’t be able to keep your gambling habit private. All casino transactions will be visible on your bank account.
- You have to choose the casino and the bank carefully, as the fees may eat all your winnings.
Bank Transfers for Gambling in India
Prior to discussing the status of bank wire transfers in India, let’s take a look at how this banking method ranks in the rest of the world.
In Germany, 99.14 of all adult citizens have a bank account they use for this kind of transaction. In the UK, the number is still around a pretty solid 97%. France also stands solid as the rock, with 94%. And what about India?
In India, only 80% of all adults are bank account holders. This number would be much lower if there wasn’t for the Government’s initiative that took 10 years to convince the locals to open a bank account.
Namely, in 2011, only 30% of all adults in India had a bank account. Reasonably so, traditional banking is not as much used as some alternative payment methods. But, with the numbers on the rise, we can say that it is establishing a reputation and building a loyal following.
What Banks in India Support Casino Deposits?
Using your bank account to top up is 100% legal in India to play online casinos with Indian rupees. For your bank operator, it will be simply yet another transaction you have decided to pay. There is nothing scandalous about it. Plus, all the banks in India use the latest technologies and methods to keep your money safe.
You can handle casino transactions both online and in land-based bank establishments, but we have to say, online banking is the way to go. Simple, easy, efficient, and available 24/7, it is a true competitor to e-wallets and the like.
Now we will list some of the most popular Indian banks, with online bank transfers.
- UPI is becoming the #1 choice of many gamblers looking for safe and simple transactions. The main downside is occasional delays in payments.
What Indian banks support casino deposits via bank transfer?
- All banks operating in India support money transactions to online casinos. Choose the one in close proximity to your home or office and the one that offers the best value for money. Some of the best and most popular Indian banks are HDFC Bank, SBI, and ICIC Bank.
Are Indian banks safe to use for bank transfers in online casinos?
- Indian-based banks and banks operating in Indian territory are 100% safe to use. In fact, they can be considered much safer than most alternative payment methods, as they are all approved by the National Bank.
Can I deposit via bank wire, and then cash out with another method?
- Generally speaking, no, you cannot. Most casinos will ask you to use the same payment method for your deposit and your withdrawal, especially if the method supports payments in both directions, and wire transfer does. You can always send a special request to your casino operator, but don’t count on an affirmative answer.
Can the bank block my account if I use it for gambling?
- For now, there are no legal implications that the bank could prevent you or block your account if you use it for gambling. Still, laws are subject to change, but from past experience, legislation rarely interferes with bank wire deposits.
PhonePe took e-wallets and UPI transfers and levelled them up. One of the most popular casino payment methods in India gathers payments, utilities, insurance, loans, and all things financial in one place. Described as “one app for all things money”, PhonePe allows you to add as many payment methods as you like, and use them with a few taps in a single app.
The maximum amount you can transfer per day is ₹100,000, just like with UPI, but PhonePe sets a limit from 10 to 20 transactions in a 24-hour period. Also, take this limit with a grain of salt, as certain banks connected to PhonePe online casinos impose lower limits per day and per transaction.
PayTM is an Indian digital payments and financial services company, based in Noida. It was founded in 2010, and serves as a platform between you, the bank and the online casino. to put it simply, you connect your bank account with PayTM, and the casino never sees your IBAN or other information, as the transaction has been completed through the app.
It is an ideal option for players who wish to have the safety of the bank, but with an added level of privacy. The daily Paytm casino online transaction limit is ₹200,000.
RuPay is yet another payment method by the National Payments Corporation of India. It launched in 2012, as the first-of-its-kind Global Card payment network from India. The best way to explain it is as a debit card, with more than the benefit of online payments.
RuPay is available with 56 selected banks, including State Bank of India, Punjab National Bank, Canara Bank, Bank of Baroda, Union Bank of India, Bank of India, ICICI Bank, HDFC Bank, Citibank N. A. and HSBC. One thing to keep in mind is that different banks may impose different fees on any given transaction, including casino deposits and withdrawals. Check out our RuPay casino list to find all the brands accepting the payment.
Netbanking is not a payment method per se, but an additional service provided by many banks in India. With the rise of the internet and online retail, as well as online services, Indian banks started offering the option of web-banking or Netbanking in casinos.
This is a service not available by default, and customers usually have to pay a monthly fee to get access to the online payment platform. The best way to describe it would be to say it is a bank wire, but online. Simple as that!