Wire Transfer Deposit Bingo

In order to win big real money prizes in online bingo, you first have to fund your bingo account. If you have been looking for online bingo deposit methods, then you can consider wire transfer. Wire transfer (also called bank transfer) is a way to process payments from your bank account to your bingo account. There are different advantages and disadvantages of this method, and we will talk all about it here.

Availability of Bingo Sites that Support Wire Transfer

When it comes to availability, wire transfers are often found on the list of bingo deposit methods. Bank transfers are not as popular as credit cards, but most all new bingo sites do accept it as an option.

Security of Wire Transfer Deposit Bingo

When you use a bingo wire transfer, you primarily process your payment on the bank’s site, unlike credit card payments which are processed on the bingo site itself. This means that bank transfers do provide greater security, because your bank details are not stored in the bingo site.

Bank transfers also have more security checks. When you transfer funds from your bank to a new top bingo site, your bank will require a passcode to authorise the transaction. The advantage here is that every time you deposit, you are protected by your bank’s security measures. So for every transaction, you will be sent a randomised password via SMS for you to confirm that it is, in fact, you who is making a payment. How is this advantageous? Other online deposit methods will only ask for your confirmation once, and then automatically process payments after. In rare cases of a hack, your credit card details can be used for other transactions without needing authorisation. This is the kind of danger that bank transfers avoid.

Speed of Bingo Wire Transfer

If security is the major upside of wire transfer bingo sites, the speed is its major downside. Unlike credit cards, electronic wallets, and prepaid vouchers, bank transfers can take a while before your money enters your bingo account. While there are some banks that are faster, wire transfers can take up to five days to process. It can even take longer if you are not a resident in the country your bingo site is registered to. For example, if you want to play at new UK bingo sites but you do not live in the UK, your transactions will take time.

We also mentioned earlier that your bank details are not stored in the bingo site. This means that every time you have to make a wire transfer deposit bingo transaction, you have to process it all over again at your bank’s site. Although this is not the most taxing thing in the world, it can prove to be tiresome for some players.

Final Thoughts on Bingo Wire Transfer

As we have explained above, bingo wire transfer payments are highly regulated, which makes them extremely secure, but also takes longer to process. Another reason why wire transfers take time is because of international transactions. But if you are more concerned about protecting your financial (and personal) details than the time that it takes for the money to arrive in your bingo account, then bingo sites that support wire transfer payments are a solid choice. And if you do decide to go for this option, our advice is for you to look for wire transfer bingo sites that are registered to your country for faster transactions.