What is Bank Transfer?
Bank transfer is arguably the oldest and most popular form of electronic transfer of money. The system dates back as early as 1875 and almost all banks and esports betting sites support this type of payment. Bank transfer involves electronically transferring funds from a bank account to another bank account or a system capable of receiving financial assets, such as a sportsbook or an esports betting account. Due to the number of banks available around the world, there are different types of bank transfers. Each of these bank transfers differs with regards to value, cost, and volume of money transferrable.
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Esports Betting Sites With Bank Transfers
As stated in the previous section, bank transfers are one of the oldest means of transferring money electronically. This means that the payment method is quite popular and in use in many industries, including the esports betting industry. Thus, almost all of the esports betting sites that you know and can think of, allows you to use bank transfer as a means of payment.
Here are some of the esports betting sites where you can make deposits and withdrawal with bank transfers;
Bet365
One of the biggest names in esports betting is Bet365. The bookmaker has been around for quite some time and has established itself as a leading name in the industry. This is why we were not very surprised to see that the online bookmaker allows esports punters to make deposits and withdrawals using bank transfers.
At Bet365, using bank transfer as your preferred means of payment comes with several benefits. These benefits include an enviable bonus for punters who make their deposits using bank transfers. With this bonus, punters get as much as a $100 bonus in bet credit. This means that you get rewarded $100 when you make your deposit with a bank transfer on Bet365. You can enjoy this bonus three times from your first deposit which means that the total bonus you enjoy from Ber365 for depositing with bank transfers is $300.
Another benefit of using bank transfers with Bet365 is the opportunity to enjoy and use the esports in-play betting system. Also known as live betting, the system allows you to place bets as the esports game is ongoing. If you are a fan of esports live betting, this is an exciting benefit.
By using the online bookmaker with bank transfer, you get to enjoy the impressive and simple site navigation offered by Bet365. Unlike many esports betting sites, Bet365’s interface is simple and uncomplicated. This means that punters of different ages and experience levels can easily use the esports betting site without running into any problems or issues.
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Thunderpick
It is almost impossible for any esports punter not to have heard about Thunderpick. This esports bookmaker is arguably one of the foremost brands in the industry, holding the reputation of providing one of the most extensive esports title arrays. There is hardly any esports title that you wouldn’t find on Thunderpick. This feature makes the bookmaker a popular choice among other esports betting sites.
To add to its impressive offerings, the esports betting site allows punters to make wagers and withdraw their winnings using bank transfers. As one of its payment methods, bank transfer on Thunderpick is very simple and also comes with several benefits.
Some of the benefits include a whopping $500 welcome bonus to new punters who just signed up and created an account on the esports betting site. As long as these punters make their first deposit on Thunderpick with a bank transfer, they are eligible for this bonus. Another advantage of using bank transfers as your preferred means of payment on Thunderpick is the opportunity to enjoy very high and competitive betting odds on the esports betting site. Apart from its reputation for offering a lot of esports titles for punters to enjoy and wager on, Thunderpick also provides some of the highest esports betting odds in the industry. These odds considerably increase your potential winnings because the higher the odds, the more your winnings will be.
Lastly, Thunderpick allows you to enjoy live esports streams. This means that not only can you place bets on live esports games, but you can also watch the game and follow its progress as it goes on in real-time. This feature makes it easier to make informed live bets on esports titles and helps you enjoy the game even more.
Luckbox
While reputation and popularity are important features of an esports betting site, it is important to say that there are relatively new and unpopular bookmakers that offer great and impressive esports betting experiences. An example of such a bookmaker is Luckbox. Luckbox is a relatively new esports betting site, having started operation a few years back. Regardless of its age and time spent in the industry, the online bookmaker has an impressive array of esports betting offerings that would blow your mind away.
One of these offerings is its payment options and the presence of bank transfer as one of the options. Using bank transfers for depositing and withdrawing funds on Luckbox is a gateway to enjoying many perks and bonuses.
One of the perks includes a 100% welcome bonus for new punters who just signed up and made their first deposit with bank transfers. This bonus means that punters will get their first deposit doubled simply because they made their first transfer with a bank transfer.
Another benefit of using this online bookmaker with bank transfer is the combination of extensive esports titles and competitive odds. This is an excellent feature because one rarely finds an esports betting site that offers these two features at the same time. Most esports bookmakers either offer a large esports games library with small odds, or competitive odds with a small library of esports titles. Thus, Luckbox got it very right by combining these two features and you get to enjoy them when you use bank transfer as our preferred means of payment on the esports betting site.
Finally, there is also the opportunity to place live bets and watch the game pan out through the live bet and live streaming service offered by Luckbox. Again, for a relatively new esports betting site, this feature is highly commendable. In the end, Luckbox is an excellent esports betting site and when you use bank transfer as your preferred payment method, you get to enjoy more of its excellent offerings.
Other reputable esports betting site that allows you to use bank transfer for your deposit and withdrawals on their platform includes;
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How to Use Bank Transfer on Esports Betting Sites
You can carry out two major transactions on esports betting sites using bank transfers; these are deposits and withdrawals. Using bank transfers to carry out these transactions is as simple and straightforward as it is with other payment methods. However, the only difference is that you go through more verification procedures with bank transfers than you do with other payment methods.
Depositing with Bank Transfers on Esports Betting Sites
To make a deposit on your esports betting account with a bank transfer, you need to log in to your esports betting account and select the Deposit option. Choose the bank transfer option as your preferred means of payment. Bank transfer, on some esports betting sites, is also known as a wire transfer.
You can then proceed to enter the amount you wish to deposit and provide your banking details. These details may include sort code, bank account number, bank account name, and other information required. You will then need to confirm and verify this transaction and wait for your deposit to reflect in your esports betting account. This usually takes between 1 and 10 days, and both your bank and esports bookmaker will alert you of the success of the transaction.
Withdrawing with Bank Transfer on Esports Betting Sites
There is not much difference between the withdrawal and deposit process. Although, most esports betting sites prefer that you use the same bank account that has been used for deposits for withdrawals. So all you need to do is log into your esports betting account, choose the amount you wish to withdraw, and provide the required details. You then proceed to confirm the transaction and wait for the money to reflect in your bank account. As with the deposit process, you may have to wait for as long as 10 days to get the withdrawn amount, and you will be alerted of the success of the withdrawal.
Advantages of Using Esports Betting Sites with Bank Transfer
Being the oldest and one of the most popular methods of payments in the esports betting scene, one expects that bank transfers most hold a lot of benefits for esports betting sites and punters alike. As expected, there are lots of benefits to be enjoyed when you use bank transfers for esports betting. Some of these benefits are;
Security
The primary benefit of using bank transfers for esports betting activities is the security that it provides for your funds. As against other payment methods which usually have to do with storing your funds on an online platform, bank transfers involve moving money stored in your bank accounts. Thus, there is a level of security for your funds - much like you would receive when using esports betting sites with American Express.
Also, the bank institutes some levels of security for the online transaction through which you transfer money to and from your esports betting account. These levels of security include numerous verification and confirmation to ensure that only you can authorize a deposit and a withdrawal transaction from your bank account to your esports betting account.
Traceable Transactions
Unlike payment methods such as cryptocurrency where punters cannot trace mistaken transactions when you make mistakes transferring money from your bank, you can trace the recipient of the money and retrieve the money. Banks keep the log of transactions that occur through your bank account. This includes the date, time, amount, and details of the recipients. With these details, you can track your misplaced transfer and retrieve the money, although the process may be a bit helpful.
When you use bank transfer as your preferred means of payment, you get many bonus offers. While some esports betting sites offer you incredible welcome bonuses when you make your initial deposit with bank transfers, other esports bookmakers reward you for every deposit made on the esports betting site. Either way, you get to win lots of bonuses when you use bank transfers to make deposits on these esports betting sites.
Another type of bonus or promotion that you enjoy when you use bank transfers on an esports betting site is the VIP bonus. Some esports betting sites offer VIP and tiered-based promotions for members, and one of the requirements for these VIP levels is that punters must have wagered a certain amount of money. Bank transfers offer a way for punters to qualify for the VIP bonus and go up the VIP levels, much like esports betting sites with MasterCard.
When you use other payment methods for esports betting activities, you need to create an account with the e-wallet or online payment service even after opening a bank account. This means you have to provide personal and financial details, and some payment services require your location details and means of identification to register. This process is a bit stressful and for people who are big on personal security, it may feel uncomfortable.
The use of bank transfers for esports betting help solves this problem. Punters need not open another payment service account when betting on esports sites. The bank account will suffice for both deposit and withdrawal transactions on the esports betting site.
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Disadvantages of Using Esports Betting Sites with Bank Transfer
While this payment option is beneficial and with its advantages, it is not without its disadvantages. Here are some of them:
Long Payment Processing Duration
The primary disadvantage of using bank transfers as a payment option for esports betting activities is that it takes a long time to process your transactions. On average, deposit transactions take between 1 and 10 days to complete, while withdrawals take almost ten days before reflecting in your bank account. The effect of this slow payment processing duration is the fact that punters have to wait for long periods to get their money. It means you cannot use your winnings from esports betting to settle emergencies as the funds take over a week to complete.
As a result of this disadvantage, many punters now opt for other methods of payment as these payment options guarantee faster payment processing and payout duration.
Transaction Fees
Another downside to using bank transfers to fund your esports betting account and withdraw your winnings is the fees charged on each transaction. Banks charge a fixed amount of money on every transaction and this includes deposit and withdrawal transactions. It is however important to state that the fees charged are minimal and usually do not affect your cash flow that much.
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Alternatives to Bank Transfer
Given the downsides of using bank transfers on esports betting sites, punters may want to explore other payment options. Some of the available alternatives to bank transfer on most esports betting site are;
You can check out the review of each of these payment options on strafe.com - we'll even share which games you can bet on depending on the provider, such as our SC2 betting with PayPal guide.
Conclusion
Bank transfer is one of the most popular and widely used payment methods in the esports betting industry. The payment method involves the electronic transfer of funds between your bank account and your esports betting account. With bank transfer, you get to enjoy lots of benefits and advantages which include strong security for your funds, the ability to track and recover a mistaken transaction, and many more. The glitch with the usage of bank transfer for esports betting activities is that bank transfer takes a long time before processing payment. You may have to wait for as long as ten days before payments reflect in your bank account (withdrawal) or esports betting account (deposit).
In summary, a bank transfer is an awesome way of financing your esports betting activities, and you stand to enjoy lots of benefits from the use of this payment service. If you are looking for something a little more mobile-friendly, we suggest checking out the best esports betting sites with Apple Pay.
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Bank Transfer FAQs
❓ Is It Safe to Use Bank Transfer For Esports Betting?
Much like esports betting sites with Visa, bank transfer is one of the safest methods of transferring funds for esports betting. Punters have to go through different levels of verification before they can send or receive funds into the bank account.
⏳ How long does it take to receive payments through bank transfers?
Ideally, you should see your funds reflect in your bank account within days. However, unlike online bookmakers with Google Pay that offer incredibly fast payments, you may have to wait for as long as ten days to get your funds.
💰 Are there transaction fees when using Esports betting sites with Bank Transfer?
Yes, you will have to pay certain fees for deposit and withdrawal transactions made through bank transfers on esports betting sites. Find out which on our dedicated bank transfer page.
