What is a Bank Transfer?
I am sure you already know the meaning of bank transfer, but it wouldn’t hurt to refresh your already great memory. In the simplest form of explanation and in the interest of time-saving, bank transfer means to send money from one bank account to another.
It is an electronic method of transferring funds from one person to another, business to business, business to an individual, etc. (you get the idea).
As you can imagine, bank transfers have a greater appeal to the masses due to the record of safety and other advantages which will be touched on later. Bank transfers are one of the oldest methods of deposits and therefore favoured by many people but at the cost of time.
It takes a couple of days before your deposit at the desired account or withdrawal reaches your account. Therefore, you might have to hold off, only for a short time, on playing at an online casino as you wait for funds to reflect on the end. The great use is the share number of businesses and online casino’s that accept this form of payment.
Why you should use the Bank Transfer method
As to continue on the advantages of using the Bank Transfer method follows a list of pluses that we would consider as noteworthy;
- Safety – funds are deposited directly into the recipients account from the comfort of your chosen location, therefore, providing a safer platform then cashing checks and other ancient deposit methods such as walking into a bank.
- Speed – this method of funds transfer used to be a slow process when you still had to walk into a bank to deposit and possibly wait a couple of days for funds to reflect on the opposite end. The modern wire transfer is fast and instant (company dependent), requiring a short time of transfer.
- Privacy – as mentioned above, no need to walk into a bank with money on you. Transfer from the safety of your own lounge, bank to bank, personal account to online businesses, etc. All you need is an internet connection and you are set to play!