For most people, bank transfers are the most trusted method of making a deposit. It is often used to fund online casino accounts and is also one of the oldest banking options. New Zealand players view it as a safe, tried and tested option even though funds take a few days to arrive at the casino. Kiwis also call it wire transfers and this method was used long before the internet gambling became available. Bank transfers remain a popular method despite its venerable age and many online casinos still offer this option.
Bank or wire transfers are a form of transferring funds electronically and there is no other party or e-wallet involved. The transaction takes place between the casino and the bank. The casino receives the cash directly from New Zealand banks such as ANZ and BZN. The transaction takes place solely between the casino and the bank which removes all risk of identity or data theft. Bank transfers are more expensive than e-wallet transaction although an extra layer of security is added during the process.
New Zealander’s can make bank transfers from NZ banks by visiting their local bank and arranging the transfer in person. Bank transfers can also be arranged via telephone. The most convenient way to arrange a bank transfer is by requesting it online.
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The Benefits of Using Bank Transfers
The biggest benefit of using bank transfers is the safety aspect. The second as agreed by New Zealand players is that only the funds available in their bank accounts can be used, which void overspending. Banks only charge a nominal fee for wire transfers and even when it takes a bit longer to accounts, not at the same bank, this option remains completely secure.v
If funds are transferred to an account holder at the same bank, instant bank transfers are possible, and the funds reflect instantly or within a couple of minutes. Bank transfers are known by several names such as direct bank transfers, wire transfers or fast bank transfers. The names depend on where users are in the world, although the process remains the same.
The person wishing to transfer cash need the banking details of the receiving party. To deposit cash into the casino’s account you will need the casino’s banking details. For withdrawals, the casino would need the players banking details. All bank transfers are the process of transferring cash to and from bank accounts. Transfers between different banks can take a bit longer and the charges could vary.
According to statistics bank transfers are still one of the most used options and over 21 billion transactions take place yearly. When large sums of cash are transferred then wire transfers are still the most cost-effective. The banks charge the person requesting the transfer a fee and usually the receiver also pays a small fee, which is deducted from the funds transferred.
Using Bank Transfers at NZ Online Casinos
Of all the online payment option available, direct bank transfers are the one that stood the test of time. New Zealand players wishing to transfer funds from their bank into casino accounts can follow these steps. The best option is to choose an online casino in your country if that fails players will need to make an international transfer. International bank transfers need the casino’s banking details as well as its SWIFT or IBAN code. The bank is unable to process the transaction without the codes mentioned.
International transfers are almost never instantaneous and could take up to 4 or 5 working days. The number of days the transfer takes depends on the bank, system and the country. Banks use the IBAN code to locate the money transfer. The bank then transmits a message, usually the SWIFT code via a secure system to the receiving bank. This is basically a request to the receiving bank to affect the transferred amount or payment.
How to Withdraw Using as Bank Transfers
E-wallets are hugely popular for funding casino accounts although when it comes to withdrawals players still need to cash out directly into their bank accounts. Most New Zealand players find it easier to simply cash out their winnings into their bank accounts. It eliminates the need to go through a web-wallet and it keeps the process less complicated. To cash out winnings directly into their bank account, New Zealand players need to insert their banking details. The casino will process the transferring of the funds and it appears then in the players account within 3 to 7 banking days.
Finding New Zealand Casinos with Bank Transfers
Since bank transfers are one of the oldest methods of transferring cash between two bank accounts, finding an online casino is easy. Thousands of online casinos cater specifically for the needs of New Zealand players and almost all accept bank transfers.
Why UseDirect Transfers at NZ Casinos
Direct transfers are the obvious choice for Kiwi’s who do not own a credit card. It is the easiest way to transfer cash from one bank account to the next without using e-wallet services. Cash transferred internationally takes a few days longer although it still offers the player the chance to enjoy huge winnings.
Once the direct transfer clears the cash reflects in players casino accounts and can be used to play and win real money. Online casino’s offer exceptional welcome packages, which can double a new player’s deposit instantly. Existing players qualify for daily, weekly and monthly bonuses by using direct transfers. Regular play qualifies players for loyalty points. By accumulating loyalty points loyal players can redeem the points for cash bonuses or free spins bonuses.
Direct transfers remain the best option for New Zealand players who aim to win big. It is the most inexpensive option to transfer large amounts of cash between two banks.