Sometimes, in the internet poker world, certain payment methods aren’t available. It might be a logistical issue, a regulatory one or an operator’s own preferences. However, there are times when you might not be able to make poker payments online using an eWallet, for example. But, for all the diversity and differences between poker sites, there remains one constant: an online wire transfer.
When other methods aren’t available, an online bank transfer for poker payments will almost always be available. This is because operators have bank accounts and you likely have one too. So, it’s easy to facilitate transfers between the two, similar to, but perhaps easier than, Western Union. What’s more, online gaming regulators recognize online wire transfers as a safe, secure, and lawful way of processing online poker payments. So, you’ll never be short of a way to pay with this method.
Is a Poker Wire Transfer Safe?
Yes. In fact, there’s an argument to be made that poker wire transfers are the safest way to pay. Why do we say that? Firstly, these payments are handled by major banks. These banks have stringent security protocols that are defined and overseen by financial regulators. In other words, banks are held to the highest security standards when it comes to financial transactions.
This does make processing payments slightly cumbersome. However, that’s the price you pay for added protection and peace of mind. The second thing to note is that you may have to provide additional pieces of evidence to verify your identity. This will be on top of anything you’ve previously submitted to a poker site. Again, this makes the process slightly slower but extremely secure.
Online Wire Transfers Pros and Cons
What are the pros and cons of using bank transfers to top up your poker account? Let’s take a look.
- Extremely Secure
There’s no questioning safety of wire transfers. You must have a verified bank account and show credentials to a site’s security team, so transactions are double secure.
- Always Available
In almost all instances, wire transfers will be available at our recommended real cash poker sites. There may be the odd occasion where it’s not offered but it’s extremely rare.
- Deposits and Withdrawals
Bank transfers can be used for deposits and withdrawals. We can’t say the same about other payment methods. For example, prepaid cards are great for separating your banking and poker accounts. However, you can’t make withdrawals to these cards.
- They’re Slower
Online wire transfer deposits are processed instantly. But, withdrawals can take up to 5 working days because they have to go through various checks. Comparatively, eWallet withdrawals just take < 24 hours.
- Higher Limits
The deposit / withdrawal limits for online wire transfers are higher than other methods. For example, local bank transfers to PokerStars start from £/$10. But using a non-local source means a £/$5,000 minimum. These transfers are more suitable for high rollers.
- Extra Fees
You may not have to pay any extra fees for wire transfers. However, to expedite the process or cover costs, some banks will add a small charge to wire transfers.
Online Wire Transfers vs eWallets and Card Payments
We’ve made the case that wire transfers in online poker are safe and secure. We’ve also said that they’re a constant when other options aren’t available. However, we have to acknowledge that this method isn’t as speedy as others. One such “other” is the humble eWallet. Companies such as PayPal and Neteller were designed for the digital area. As such, transactions are authorized sooner.
That doesn’t mean they’re unsafe. PayPal et al are regulated by the same agencies as banks. It’s simply the case that there are fewer hoops to jump through. The money isn’t going from an online poker site to an offline bank. Instead, it’s going from one digital platform to another, which streamlines the process.
Then you’ve got debit cards. These weren’t created in the digital era but they have evolved. They’re not as efficient as eWallets but they’re faster than wire transfers. Moreover, payments are processed by recognised names such as Visa and MasterCard. The size of these companies means you can make smaller transactions and not incur any fees. In short, wire transfers are great for larger transactions that require double security. But, when it comes to accessibility and efficiency, eWallets and cards have the edge.
Make an Online Wire Transfer Deposit
Join one of the top online card rooms we recommend.
Create an account and verify your identity.
Head to the cashier and select “bank/ online wire transfer”.
Input payment amount (above min. requirement).
Confirm and the money goes into your account in seconds.
Withdraw Via Online Wire Transfer
Head to the cashier page
Select “bank/wire transfer” if not already default.
If it’s your first, send proof of identity, address and photo ID.
After verification, input min. payment amount or more.
Confirm and wait 24-48 hours for processing, then 3-5 days to arrive in your bank account.
More Payment Options:
Check the various online poker deposit options you can use at our recommended card rooms.
Online Bank Wire Transfer FAQs
Are there any transaction fees for poker bank transfers?In general, poker sites won’t charge any fees for bank transfers. However, you may be charged a fee by your bank. It all depends on whether the transaction is local or international. If it’s a local bank transfer (i.e. within the same country), there probably won’t be a charge. If it’s classed as an international wire transfer, there could be. For example, a PokerStars wire transfer could incur a bank charge of $30.
What is the deposit limit for an online wire transfer on poker sites?The deposit limit for wire transfers will vary but this method is suited to those that want to make large transactions. For example, PokerStars has a minimum deposit of £5,000. It’s the same for withdrawals. At Partypoker, for instance, the minimum withdrawal is $/€1,000.
Can I get cashback for wire transfers on poker or betting sites?Yes, you should be able to get poker bonuses when you use wire transfer. Certain deposit methods do exclude you from promos, but this is due to issues with verifying your identity. With wire transfers, that’s not a problem.