Internet banking is one of the most widespread payment solutions for making deposits at established online casinos. The method does precisely what its name suggests – it enables players who are customers of a brick-and-mortar banking institution to transfer funds online from their bank accounts to the accounts of their chosen online casinos.
Internet banking is sometimes referred to as “online banking” or “e-banking” because the player is essentially using the online banking services of the banking institution with which they hold an account. Of course, to transfer funds in this way, one must first register for online banking with their financial institution. The customer will then be provided with a unique password for verification purposes. To make a payment to an online merchant, or in this case to an online casino, one simply needs to visit their bank’s secure website and log in with their customer username and password.
This payment method offers a number of benefits and is widely popular among online casino players because it provides convenience, flexibility, reliability and time-efficiency. Below, you will find more detailed information on fees, security and the way deposits via internet banking work.
Depositing at Online Casinos via Internet Banking
Internet banking enables players to boost their online casino balance quickly and efficiently, regardless of their location. However, the policies with regard to internet banking differ from one bank to another. For instance, some banks may impose limitations that prevent customers from sending money to specific locations, in which case players will be forced to look for an alternative payment solution. Players are advised to acquaint themselves with the policies of the banking institutions with which they hold accounts before attempting a deposit via this method.
The procedure of depositing via internet banking is simple, secure and quick. Some even regard this method as the safest way to transfer money to your favourite online casino. One option is to initiate a direct bank transfer using your online banking account.
To do so, head to the casino’s cashier section and select direct bank transfer from the list of deposit options. To process the payment, you will need the casino’s banking information, such as its IBAN and BIC codes. When you visit your bank’s online banking page and log in, you must complete the form correctly and submit the payment. You will be notified by email as soon as the transaction has been completed and the casino has received your deposit.
At many casinos, it is possible to make a deposit via internet banking by using a third-party instant banking intermediary such as Trustly, POLi or iDebit. Once you select the instant banking processor from the list of available methods and enter the amount you wish to deposit, simply choose the affiliated bank with which you hold an account. You will be automatically redirected to the bank’s online banking log-in page to confirm the transaction. The funds will be transferred to your casino balance immediately, so you can start placing real-money bets straight away.
Internet Banking Fees
As already mentioned, policies with regard to internet banking differ depending on the banking institution with which players hold an account. The same applies to internet banking fees, which also vary from one financial institution to another. Some banks even prohibit customers from sending funds to offshore online gambling sites, so players might be unable to process a deposit at all. Therefore, it is advisable to contact your bank’s representatives in advance and request information on any internet banking fees. This will spare you unpleasant surprises and prevent you from incurring unwanted charges.
Internet Banking Security
Internet banking is widely regarded as one of the most reliable deposit methods available. Because your banking institution carries out the transaction, you do not disclose any sensitive information to third parties. Note that some banks utilise a direct modem connection for their internet banking services, which means the payments are not even transmitted over the internet.
Other banks process transactions using strong encryption that encodes sensitive data so that only the intended recipient can read it. Sophisticated 128-bit encryption offers a high level of security, and players can rest assured their money and banking details are in safe hands. To ensure the online banking page is secure, players can simply check their browser’s address bar. If they see a small padlock or key icon, the page (and therefore their transaction) is secure and encrypted.
In addition, players are required to confirm the internet banking deposit by entering their unique password and Personal Identification Number (PIN). Please note that you can change your PIN as often as you wish.
Pros and Cons of Using Internet Banking at Online Casinos
Obviously, internet banking offers numerous advantages – otherwise the method would not be so popular among online casino players. One of the greatest benefits is security, as players are not required to share sensitive information with any third parties. All data concerning bank account numbers, identification numbers and the like remains secure between the player and their bank.
In addition, internet banking is more affordable, especially when compared with other methods such as certain e-wallets. It is also straightforward, and many players are already familiar with it, as they probably use it to pay their utility bills and make online purchases from the comfort of their homes. Moreover, the method is widely available and you will find it offered at all reputable online casinos.
On the downside, in some instances deposits processed via internet banking may take a little longer to complete, because banking institutions send the payment manually and the online casino must wait to receive the money either by bank transfer or by cheque before it can top up your account.
You can avoid this delay by using a third-party instant banking intermediary such as iDebit, iDeal or Citadel. Deposits via these processors are just as secure but are completed immediately. Unfortunately, if you opt for internet banking through one of these processors, you will have to choose an alternative method to cash out your winnings, as withdrawals are often impossible with them.
Popular Internet Banking Methods
Below you will find short overviews of all payment methods that are based on internet banking. The listed methods are secure, flexible and easy to use, and they are available at many legitimate and renowned online casinos. Please note that some of them are country-specific and may be unavailable to players domiciled in certain regions.
Standard Internet Banking
Many casino players choose to use the online banking services of their financial institutions as a deposit method. The funds are taken directly from the player’s bank account and transferred to the online casino’s account without the involvement of any third-party agents in between.
Of course, fees are usually involved, but they depend on the banking institution with which you hold an account. As mentioned earlier, you might sometimes have to wait longer for the transaction to go through. However, a major advantage of standard internet banking is that anyone can use it as long as they have an account with a bank and have registered for its online banking services.
iDebit
iDebit is supported in over 20 countries and enjoys great popularity among online casino players because it offers a secure, quick and easy way to pay directly from one’s online banking account. What is more, no credit/debit card is required in order to do so.
However, players are expected to register for an iDebit account in advance, but this registration is free of charge. Another requirement is to use the online banking services of a bank that is affiliated with iDebit. Deposits with iDebit involve several steps. You need to select iDebit from the list of available options in the cashier section, log in to your iDebit account, choose your affiliated bank, enter your online banking credentials and approve the payment. Some of the best-known online casinos that accept this method include 888casino, bet365 and BGO Casino.
Citadel
Citadel provides instant online banking solutions to customers in 33 countries and is associated with over 300 banking institutions worldwide. The company was founded in 2000 and has its headquarters in Vancouver, Canada. One of the greatest advantages of Citadel is that no registration is necessary in order to process an online payment with this method. The only requirement is to have opened an account with one of the associated banks and to use its online banking services.
Deposits with Citadel follow the standard procedure where players are expected to click on this payment solution in the casino’s cashier menu, select their affiliated bank, sign in to their online banking account with their user ID and password, and authenticate the payment. Within a few moments, the funds will reach their online casino accounts.
Some online casinos support withdrawals with Citadel Instant Banking as well. It is recommended that you contact your preferred casino’s support team in advance if you wish to cash out with this method. Please note that withdrawals with Citadel are typically not carried out instantly, owing to verification procedures, and may incur charges. Citadel is particularly popular among players from the United Kingdom, Canada, Germany, Sweden and France, among other countries, and is supported by first-rate online gambling operators such as 888casino.
POLi
POLi is the leading online payment system in Australia and New Zealand, allowing players from these countries who have internet banking accounts at affiliated banks to make quick, secure and instant deposits to online casinos. There is no need to sign up for an account to use POLi’s services.
You simply select it from the cashier’s menu, enter the amount you want to deposit and click on your bank. You will be immediately redirected to your online banking account, where you must authenticate the transaction, and that is all. The money will be available in your casino account straight away. Players cannot process withdrawals with this payment processor, however. Those who use it for deposits will need to choose another method to cash out their winnings. Deposits via POLi can be made at Betway, William Hill and Roxy Palace, among other casinos.
Nordea
Players who reside in Scandinavian countries such as Sweden, Norway, Denmark and Finland have probably heard of Nordea. It is a financial services group that was created through the merger of several Scandinavian banks. Nordea’s Netbank enables players to boost their casino balance in a hassle-free manner, but the service is also exceptionally secure since it employs the so-called Access Codes. These consist of a unique user ID, one-time security codes and confirmation codes. Only account holders at banks associated with Nordea can use the service. Additionally, Nordea bank account holders can transfer deposits via Skrill (MoneyBookers).
The deposit process consists of several steps. Players should click on Nordea’s logo in the casino’s banking section and enter the amount they want to transfer. They will be taken to Nordea’s Netbank log-in page where they need to enter their Access Codes, fill in their payment details, and authenticate the transfer with a confirmation code. The funds will be transferred to their casino account balance right away. As for withdrawals, these are not possible with Nordea; many players who use this method resort to cashing out via standard bank transfers.
iDeal
Introduced in 2005, iDeal is one of the most popular internet banking processors among casino players from the Netherlands. Since its inception, iDeal is said to have processed over one billion online payments and is accepted by more than 100,000 online merchants as well as many web-based casinos, including 21 Nova and William Hill. It is important to mention that iDeal is not a centralised electronic payment system, but rather a set of technical agreements between banking institutions and payment processors.
Practically anyone who holds an account with a bank affiliated with iDeal can use the method. Depositing with iDeal is rather straightforward – you simply need to select it as your preferred deposit method from the casino’s cashier menu and pick your bank from the list to be redirected to its online banking page, where you can confirm the transaction. Unfortunately, withdrawals with iDeal are not possible. Players will have to look for an alternative payment solution to cash out their winnings.
Giropay
Giropay is a reliable online banking processor that is widely used by casino enthusiasts from Germany and Austria. The payment processor is affiliated with over 1,500 German and Austrian banks. With over 17 million customers, Giropay serves as a hassle-free, reliable and convenient way to boost your casino balance, even if you lack a credit/debit card.
The procedure is straightforward – you select Giropay from the listed deposit methods at the casino’s cashier and are redirected to your affiliated bank’s internet banking page, where you fill in the form and authorise the payment with a special TAN code. The money will be available straight away, but if you want to cash out, you will need to use another method such as a bank transfer. This method is available at reputable online casinos such as William Hill and Eurogrand.
Trustly
Established in 2008, Trustly is a popular direct internet banking solution based in the Swedish capital, Stockholm. The company is highly regarded for its reliability, particularly as it is licensed by the Swedish Financial Services Authority. Over 50 million customers use Trustly’s services, with the company being affiliated with a great number of banking institutions across Europe. Moreover, Trustly specialises in direct internet banking via mobile devices like smartphones and tablets, making it possible for players to deposit while on the go.
Players who select Trustly as their preferred deposit method are not redirected from the casino’s website when they initiate a transaction. Instead, they are required to fill in a pop-up form with their banking details. Deposits are carried out instantly, but one of Trustly’s biggest advantages is that players are not expected to hold an account with a bank associated with this payment processor; the deposits will simply take longer to complete, usually between one and three business days. Another advantage is that it is possible to cash out your winnings with this method as well.
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When I play in online casinos I always deposit via Internet banking because I transfer the money directly from my bank account to the casino. Overall, this method is simple and straightforward, and it’s accepted by almost all large gambling sites. But last month when I was depositing into one of my favourite casinos, I accidentally entered a significantly larger amount of money – instead of £100, I entered £1,000 and immediately confirmed the transaction. I realised my mistake the next second, but it was too late. I tried to cancel the transaction. I called the customer support at the casino, then I called my bank, but to no avail. These transfers could not be cancelled so I ended up with £1,000 in my casino balance, which was terrible. At least the casino gave me a bonus, so now I will play for months with this sum and hopefully, I’ll be able to win something.
I have used several instant banking services and for me, they are, by far, the most convenient methods for depositing into online casinos. The transfer is indeed instant and it’s incredibly safe, as it is completed through the online banking system of my bank. But there are bank fees I can’t avoid and when it comes to withdrawals, you might want to consider an alternative payment method. Even if some casinos do allow withdrawals via instant banking services, it is simply too costly and time-consuming. The support agents at the casino where I was playing at told me I could use Citadel to withdraw my winnings. It turned out that I had to wait for over a week for my bank to verify and allow the transfer and charge me with a £45 fee.
When I visit an online casino for the first time, I always look at the payment methods it accepts before I register. I never use my credit card for gambling, because I prefer playing with the money I actually own, not with borrowed finances. My bank allows deposits into casinos, but its online services are quite slow and for this reason, I use a separate instant banking service. Through it, I can top up my casino account in a matter of minutes, while at some casinos I can use it even to withdraw my winnings. This, however, takes significantly longer and the banking fee is really steep. Still, compared to other payment methods, Internet banking is safer and more reliable.
I prefer using Internet banking when I make payments online because it’s safe. However, I’ve tried to make a deposit in several casinos, using the e-banking services of my bank and the payments were cancelled by the financial institution. This is extremely frustrating, especially when the bank employees don’t have a logical explanation regarding the cancellation. Well, when I opened an account at another UK bank I made a successful deposit into a casino, but the transaction took 2 days to complete, which was ridiculous. Since then, I’ve started using instant banking services and I am more than happy. There are still fees charged for every transfer, but at least my deposit appears in my casino balance immediately.