What is a Fast Bank Transfer in Online Casinos

What is a Fast Bank Transfer in Online Casinos?

Author: Craig Healy Reviewed By: David Adams
Last Updated: 25th October 2022.

Fast bank transfer online casinos allow players to make transfers from their accounts that are secure and have little to no fees. We know that players want the fastest payment methods possible and although fast bank transfers do not provide that, they have lots of other big advantages that make them a go-to option for online casino players.

What is a Fast Bank Transfer in Online Casinos

What is a Fast Bank Transfer?

A fast bank transfer allows players to move their cash from a domestic bank account to another bank account. However, it should not be confused with bank wire transfers and this payment method is used to make transfers between international bank accounts. When using this payment method, players must authorise it before it can go ahead.

 

How to Use Fast Bank Transfer to Make Casino Deposits

Using fast bank transfers to make casino deposits is easier than you think. If you are thinking of making this your preferred payment method at an online casino, follow our step-by-step guide below to get started:

  1. Choose your fast bank transfer UK online casino to join
  2. Log into your casino account
  3. Visit the banking area and click on the deposit button
  4. Choose ‘fast bank transfer’ as your depositing payment method
  5. Enter your depositing amount
  6. Keep note of any payment references and choose your bank provider
  7. Give the payment reference to your bank as well as the payee information
  8. Once the bank has authorised the payment, the money will be credited to your casino account

When the deposited cash has successfully been transferred, you can start playing all of our favourite online casino games.

 

How to Use Fast Bank Transfer to Make Casino Withdrawals

As well as making deposits using fast bank transfers, you can also make withdrawals. Follow these steps to make a withdrawal using this payment service:

  1. Log into your casino account
  2. Visit the banking area and hit the withdrawal button
  3. Choose fast bank transfer as your withdrawal payment method
  4. Enter your withdrawal amount and enter your bank details
  5. Submit the withdrawal request

Once the withdrawal request has been approved by the casino and the bank, it will reach your bank account. If you want to use this payment method for a withdrawal, you will need to first use it to make a deposit.

 

Are Fast Bank Transfers Instant?

Unfortunately, fast bank transfer deposits are not instant. Before the money can be transferred from your bank account to your casino account, it has to be approved by the bank. This usually takes between one and four working days. How fast this transaction happens is all down to your bank processing times.

Roughly the same processing times apply to withdrawals and it can take up to four working days for your withdrawal to be approved and the winnings transferred into your bank account.

 

Do I Have to Pay to Use Fast Bank Transfer?

There are no fees associated with a fast bank transfer. The vast majority of online casinos will allow you to use this payment service to make deposits and withdrawals free of charge. This means you get to keep more of your money to enjoy exciting gambling games.

 

What Are the Pros and Cons of Using Fast Bank Transfer

There are both pros and cons to using fast bank transfer. Whether or not this payment method is right for you will all depend on what your priorities are.

Pros of Using Fast Bank Transfer

Here are some of the advantages you can expect from using this payment service:

  • Security – fast bank transfers are highly safe and secure. Players will benefit from their bank’s security features as well as the SSL encryption technology used by online casinos to protect payments
  • Fees – there are no fees associated with fast bank transfers
  • Direct transfers – players can cut out the middleman and directly transfer cash between the bank account and casino account. This means there is no need for e-wallets such as PayPal or Skrill
  • Reputable – as this transfer is made via your bank, you will be using a reliable and reputable service without having to worry about a third party service

Cons of Using Fast Bank Transfer

Alongside these advantages, there are some disadvantages of fast bank transfer payments to consider including:

  • Processing times – this form of payment method is not the fastest and players will need to wait for the deposit and withdrawal processing times to be completed by their bank before they can complete the transfer of their cash
  • Privacy – many players like to use payment methods such as e-wallets as it allows them to protect their sensitive banking information

Players should consider both the pros and cons of this payment method as this will help them to decide whether it is right for them. If it is not, other payment methods you may want to consider include debit cards, e-wallets, e-vouchers and PayByPhone.

Author

Craig Healy
Editor-in-Chief

Craig Healy is the Editor-in-Chief at PayByPhoneBillCasino.uk. He has over a decade of experience in writing and editing, with a focus on creating content that is both informative and engaging.

He is a keen researcher and devotes his time to covering everything payments. In addition to his work at PayByPhoneBillCasino.uk, He also contributes articles for other publications such as Business Insider UK and Forbes Middle East, where he shares insights about the latest developments in the payments industry around the world.