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Let’s Start from the Basics: What is a Bank Transfer Casino?
Before you learn about a bank transfer casino, you need to know how this payment method works.
Electronic fund transfers occur between two credit unions or banks via a system or network that’s managed by hundreds of financial institutions and other service agencies in the country. The networks include:
- Federal Reserve Wire Network (Fedwire)
- Large Value Transfer System (LVTS)
- Clearing House Interbank Payment Systems (CHIPS)
- Society for Worldwide Interbank Financial Telecommunications (SWIFT)
When you choose bank transfer as a payment method at online casinos in Canada, it’s merely a case of giving your bank instructions to move funds from your bank account to your casino account.
Which Canadian Banks Allow Online Casino Transfers?
Canada is home to five leading financial institutions. The good news is that all of them allow online gambling deposits.
The five banks are:
- Bank of Montreal – this bank processes transactions to and from offshore bank transfer casino sites, considering them like cash transactions.
- Canadian Imperial Bank of Commerce – under this bank’s contract, the institution has the right to deny casino-related payments. But if they don’t consider your transactions fraudulent, they will process your casino deposits and withdrawals.
- Royal Bank of Canada – the largest bank in the country, this one allows both local and offshore casino deposits and withdrawals. Of course, they’re within their rights to prevent casino payments made with debit cards, but you can always transfer funds to an e-wallet.
- Bank of Nova Scotia – Scotiabank will only allow you to make transactions at casinos regulated by the Canadian government. Under their user agreements, offshore gambling is seen as illegal.
- Toronto-Dominion Bank – this bank will restrict you from playing at a bank transfer casino, but you can use your bank account to top-up e-wallets for online gambling.
Frequently Asked Questions About Bank Transfer Casinos
Can Canadians play at a bank transfer casino?
Yes, all the casinos on our top list accept players from Canada.
How fast are transactions at bank transfer casinos?
Bank transfers can take 3 to 5 days to deposit when you want to withdraw your funds. While deposits are often instant at casinos, you might wait a few days for funds to reflect when you use bank transfer.
Are bank transfer casinos safe?
Yes, the casinos we recommend use top-notch security, and bank transfer is one of the safest payment methods. There are no third parties involved, so you’re guaranteed secure and private banking to and from your online casino of choice.
Does my bank allow me to make transfers to and from online casinos?
Some Canadian banks will query direct payments to and from online casinos, and if they feel anything is untoward, they’ll stop the payment. But when you play at trusted bank transfer casino sites, everything should be smooth sailing.
Are there any downfalls to playing at a bank transfer casino?
There can be processing fees and long wait times compared to other casino payment methods.
Are there bank transfer casino deposit limits?
Yes, but it differs from one casino to the next. Also, the minimum deposit may not be the same as the deposit required to claim a bonus.
How Does a Bank Transfer Casino Work?
The good news is that playing at a bank transfer casino is a piece of maple syrup pie.
- You initiate a transaction at a bank transfer casino.
- The casino takes the information and transaction amount and transfers the information to the bank.
- The bank verifies the authenticity of the credentials for the transaction and transfers the amount to the casino.
Gambling With Bank Transfer
If the idea of knowing that your money is securely and professionally transferred, gambling at one of the Canadian bank transfer casinos on our site is for you.
This is a casino payment method that provides a guaranteed and tight level of security, but it does come at a price. Canadian gamblers who decide to use bank transfer deposits and withdrawals should expect to pay fees for the service.
Oftentimes, these fees can be twofold. Firstly, your bank will charge you for transactions, and secondly, some casinos may impose fees for using this payment method. That’s why we always recommend you read a casino’s terms and conditions around banking before you sign up and to avoid you being caught out with unexpected expenses.
On the upside, many Canadians agree that playing at a bank transfer casino offers tight enough security to justify the costs.
A Few Fun Bank Transfer Casino Facts
- When you choose a bank transfer casino on our top list, you are eligible for generous welcome bonuses and other lucrative promotions.
- This is one casino payment method that doesn’t require you to hand over a list of personal and sensitive information.
- Take note that bank transfer rules can vary from one casino to the next, but rest assured this is one of the most secure payment methods for Canadian gamblers.
How to Deposit at an Online Casino via Bank Transfer
Now you have a good understanding of how a bank transfer casino works, let’s get down to the important stuff: depositing and playing your favourite games.
Luckily, depositing funds in your bank transfer casino account is a breeze. You just need to know your bank account details and how much you’d like to deposit. You can do your casino banking either on your computer or your mobile device if you’re hooked up for mobile banking.
- Choose a bank transfer casino site from our top list and register an account.
- Go to the cashier section and choose the “deposit” option.
- Choose bank transfer (sometimes called wire transfer) as your payment method.
- Enter the amount you’d like to deposit and the necessary banking details. Remember that most casinos have a minimum deposit amount you’ll need to meet.
- Complete any security checks your bank requires – like a code you receive via text message or a password you need to enter.
- Wait for the funds to reflect in your casino account. Most casino deposits are instant.
How to Withdraw at an Online Casino through Bank Transfer
Once you’ve had fun on all the best slots, table games, live casino games and more, you’ll want to cash out your winnings. It’s just as easy as making a deposit:
- Go back to the casino’s cashier and choose “withdraw.”
- Enter how much you’d like to withdraw and complete any other banking details.
- Confirm your transaction and wait for the casino to process the funds.
Most of the bank transfer casino sites on our list will require you to complete a KYC process before your first withdrawal. It’s a way of making sure you really are who you claim to be. To complete the process, you’ll need to submit copies of identification documents and proof of address. If you don’t like the sound of that, you might want to check out no verification casinos instead.
Carefully Consider Bank Transfer Casino’s Terms and Conditions
We mentioned that one of the downfalls of using this deposit method is the fees. The processing fees can be anywhere from $5 to $50, depending on the cash amount, your bank, and the bank transfer casino. Toronto-Dominion Bank, for instance, charges anywhere from $30 to $80.
In most cases, deposits come with minimal fees, so it’s cheaper to use this option for casino deposits.
While transactions are pretty straightforward, there are also waiting times involved. In some cases, you could wait up to five days for funds to reflect in your casino account. Withdrawals can take up to five or more working days to process once you’ve made the request.
Is A Canada Bank Transfer Casino Safe?
So, you don’t need to hand over much information when playing at a Canadian bank transfer casino, but is it a safe payment option?
It’s a hard yes. There are no third parties or middlemen to spy on your information – it’s just your bank and the casino’s bank. Banks in Canada use the highest levels of security to ensure only the safest transactions.
All the casinos that we recommend on this page also use superior encryption and safety technology to keep your details secure at all times.
Just make sure that you have all the right information. As soon as you initiate a deposit, there are no chargebacks to your bank account. We’d say double, or even triple, check the digits before you confirm a casino transaction.
Pros and Cons of Bank Transfers at Casinos Online Weighed Out
- Safety – bank transfers are one of the safest ways to fund your casino account and withdraw your winnings. Since no third parties are involved during the transfers, it’s difficult for fraudsters to get their hands on your details.
- Larger transactions – bank transfers allow for larger transactions, making it the perfect method for high rollers. Whether you want to make a large deposit or get your hands on your big jackpot win, a bank transfer casino makes it easy, and the charges aren’t too bad when you’re dealing with bigger sums of cash.
- Popularity – this is a widely accepted payment method at all the best online casinos in Canada. It’s not only popular at offshore bank transfer casino sites, but also at top-rated Canadian casinos based in the country, especially in provinces like Ontario and Quebec.
- Casino bonuses – all the best casinos in Canada offer incentives to players who use bank transfer as their preferred casino payment method.
There are very few cons when it comes to playing at a bank transfer casino, but there are two points we want you to be aware of:
- It’s not a cost-effective option for small payments.
- Transactions are one-time and irreversible.
Tips & Tricks for Casino Bank Transfers
- You must be 18 years or older to play at a bank transfer casino in Canada. Reputable casinos will ask you for proof of your ID, so there’s no getting around it.
- Before you sign up at a casino, make sure you’ve read reviews and familiarise yourself with the site’s banking terms and conditions.
- Before you make a deposit, know what the casino’s minimum deposit requirement is and if there is a larger minimum amount needed to claim a welcome bonus.
- Check out the maximum withdrawal limit before you deposit at a bank transfer casino.
- Find out what fees your bank will charge for casino deposits and withdrawals.
- Always choose a casino payment method that suits your needs and budget. If you want faster cashouts and low to no transfer fees, a bank transfer is not the right option for you.
Our Bank Transfer Casino Review Considers all these Characteristics
If you’re anything like us, you want the best bank transfer casino site and you want to start playing as quickly as possible. That’s why we’ve done the hard work for you and put together our list of the best Canadian bank transfer casino sites around.
We’ve checked out all these sites to ensure they’re up to scratch and that they check our list of important criteria, including:
- Game variety – having a large selection of games and a variety of wager limits means you’ll never get bored at a site.
- Promotions – we check out the bank transfer casino bonuses and promotions for fairness, transparency and generosity.
- Mobile gaming – the best bank transfer casinos can be accessed on your smartphone and tablet, so you can take all the fun with you wherever you go.
- Safety and security – bank transfers are a highly secure payment method, but we also like to recommend casinos that offer at least 128-bit SSL encryption along with verification from third-party professionals like eCOGRA.
- Timely processing – if a site offers instant deposits and fairly fast bank transfer withdrawals, you’ll find it on our top list.
All of the sites that we recommend have been tried and tested by our team. If they tick all of the above boxes, you’re assured a safe, secure and super-fun gambling environment.
Alternative Online Casino Payment Methods to Bank Transfers
A bank transfer casino isn’t for everyone. You might prefer not to pay transaction fees, or you might want to get your hands on your winnings a whole lot faster. Fear not. The best Canadian online casinos have plenty of alternative banking options for your Dollars.
EcoPayz – this is a popular payment method in Canada that can be used to fund your casino account instantly.
Neteller – one of the most popular e-wallets around, Neteller allows for instant deposits and withdrawals usually don’t take longer than 24 hours to process.
PayPal – a secure and well-known online payment method, PayPal is accepted at all the best bank transfer casino sites for Canadians.
Visa and MasterCard – debit and credit cards are also popular payment methods at online casinos, and while it’s a faster option than a bank transfer, you do need to hand over personal details.
Prepaid card – you can purchase prepaid cards at retail stores and deposit the funds into your casino account, but you can’t use this method for withdrawing your funds.