What is a bank transfer

  • Wire transfer
  • Type: Payments through online banks
  • Available currencies: UAH / USD / EUR / RUB / GBP
  • Commission: 1%

Basic information

Bank transfer is the classic method of payment. As gambling establishments have gone online, every virtual casino customer has thought more than once about deposit methods. The essence of the financial transaction is the transfer of electronic funds between bank accounts.

The advantage of the payment system is that the customer does not need to have a personal bank account at all, although having one provides a higher level of comfort. The electronic card account can also be used for bank transfers, which allows the subscriber to access the transferred money later by withdrawing it at the nearest ATM. As a result of the transaction, the money will be transferred from the player's personal account to the virtual institution's account.

Types of bank transfers

Money can be transferred within or across countries. It is not unreasonable to mention that funds transferred abroad often generate good commissions and thus provide many countries with a good source of income. There are also international financial transfers that come separately. Bank card transactions are now very common - this transfer option includes the ability to send funds from one electronic payment card to another.

The client receives the amount of money addressed to him in the currency that is used in circulation in his country of residence, because during the transfer process the currencies are converted according to the current exchange rate.

How to make a bank transfer?

In order to transfer money, you need to visit a bank branch, where you will need to fill in a prescribed form. This procedure is also available to internet users (electronic banking). However, the proposed method is not very fast - the time required to transfer money can vary from one day to one week. The potential user should also take into account the fee, which depends on the type of financial transaction. For CIS countries it will not exceed 5% of the amount sent.

The information for the transfer application is as follows: the account numbers of the sending bank and the beneficiary bank. You also need to know the name of the bank involved in the transaction. The next step is to enter personal information about the sender and the recipient, including passport details and address. Don't forget to also enter the amount of payment and its purpose.

Using the electronic transfer method will be even more convenient, because the user will be able to perform the necessary actions by visiting the official website of the selected bank. As a payment option, money transfer is a common procedure, but it is worth knowing that the algorithm of the classic financial transaction may be different - it all depends on the bank whose services you decide to use. Bank transfers are faster as the time to send the money ranges from 2 to 4 days.

What nuances should be considered when making a bank transfer?

There is a clause in the rules for using any payment system that specifies the amount that can be transferred at one time. The receipt, which is issued to the sending user, should be carefully filled out and contain true personal data of the customer, including his/her surname, first name and patronymic.