Bank transfer is a popular banking method that is pretty much available at all reputable online sports betting sites. Although it has fallen out of favour with some punters, the banking method is still widely used by many punters. Essentially, the cash transferral method allows punters to take money out of their account and transfer it into that of the recipient. The money goes straight into the bookmaker’s account. It is quite a convenient banking solution as almost everyone has some sort of bank account.
To learn more about making bank transfers and the Aussie sports betting sites that accept bank transfers, be sure to keep on reading. Down below we highlight the advantages and disadvantages of using this well-known deposit and withdrawal method.
Best Betting Sites that Accept Bank Transfer 2020
- Step 1 – Log in to your online betting account and navigate towards the site’s online banking section. There’ll be a load of different methods available to choose from. Pick the bank transfer method.
- Step 2 – The sports betting site will then take the punter to a page that features their banking details. The prospective bettor will then be able to use those details to make a transfer either online or through a phone call. They can even go to their bank and request the transfer if they prefer the old-fashioned method.
- Step 3 – You’ll then need to wait for the transfer to clear. Once it does, in anything from instantly to a few days, you’ll then be able to begin betting on your favourite sports.
Bank transfer is probably the most popular withdrawal method at online sportsbooks. If you’re wondering how you can withdraw your funds using this banking method, then you’ve come to the right place. Just log in to your sportsbook account and navigate to banking section, select the bank transfer option and select how much you would like to withdraw.
You will then be prompted for your bank account details, which you will need to provide to get paid out. Once you have done all this and selected accept, all you need to do is wait for your funds to be paid out.
Advantages of Bank Transfer Gambling Sites
There are loads of reasons you should choose to use bank transfers as your preferred deposit and withdrawal method at online sportsbooks. Some very important benefits include the following:
- Safety – in general, bank transfers are very safe. The money is heading from one bank to another so you know there is nothing that can intercept it. (Keep in mind though that although the transfer method is safe, there is no guaranteeing that the sportsbook isn’t rogue.)
- Convenience – due to modern technology, it is possible to make a bank transfer anywhere you are as long as you have an internet connection. Just log in to your bank account and add the sportsbook as a beneficiary.
- Availability – pretty much all online sportsbooks in Australia allow punters to make deposits using bank transfer if they like. If this is your preferred banking method, you will not need to worry about finding a sports betting site that accepts it. This is particularly true with withdrawals, which only a limited number of banking options are available.
- No Sharing Card Details – many Australians don’t like the idea of sharing their credit card details with online Well, if you choose to use the bank transfer banking method, you won’t have to!
Disadvantages of Bank Transfer Betting Sites
There are a few drawbacks associated with using this very popular online sportsbook banking method. Some that punters need to take not of include the following:
- It sometimes takes a while before a bank transfer clears and your funds are made available in your account. This may be anything from a few hours to a few days. The unfortunate thing is that it means a delay in you being able to bet. With live sports taking place at every hour, this may mean that you miss out on some good opportunities to bet online.
- Bank charges are a real thing. While not all banks will charge you for making a deposit, some definitely will. While the sum may not be huge, it is definitely something to keep in mind when making a transfer.