Bank Wire Transfer is one of the most popular methods for depositing funds and withdrawing any winnings (fingers crossed), as all you require is a bank account. Therefore, many players based in New Zealand use this method for all of their online casino transactions. Another reason many use this method, despite it being slower than other types of transaction is that it does not require any third party company in the middle and no additional verifications are needed.
Simply put, it is the transferring of funds from one bank to another. So, in order to get money into your casino account, you will need to get a hold of the casino’s bank details – for withdrawing you can just enter your own details at the time, no problem. These account details for the casino are either given in the deposit area of the site, on their FAQ page or by contacting customer support who will be able to give you a step by step guide on what you need to do. Therefore, we highly recommend using the latter method, as it will be the most up to date.
Once you have the details, which normally requires the name of the bank, its address (in some cases) and the SWIFT or IBAN number (the full international code for a bank’s account number), you can go ahead and make the transfer by telling your bank to send New Zealand Dollars to the casino’s bank account. After that, get in touch with the casino’s customer support team again to inform them of the transfer and the expected date of arrival, so that they can manually verify the amount has gone through and they can add funds to your casino account.
Using this method to make a deposit may seem like a hassle in today’s instantaneous transfer of funds and information, but withdrawals are super easy using this method. Get a hold of your SWIFT or IBAN number for your own bank, enter these details on the casino website when requested and it will be processed internally in one or two days, then sent to your account.
The most basic answer is that there is no middle man or company involved whatsoever. It is a straight transaction between your bank, the casino’s bank and back again. That means no verification process or hassle when things go wrong. It’s also a fantastic solution to online identity theft, as all a person who steals this information can do is send you some money!
As you might well have gathered, this isn’t the quickest or easiest method out of all the options available to you. It has the security advantages mentioned above, but the downside is that it generally takes much longer to see your deposits in your account (versus credit cards which are instantaneous, for example) and it can take up to seven business days to receive your winnings, which is quite a long time to wait – other methods can be as low as one or two days if you’re lucky.
Another negative point is that some bank wire transfers come with fees, especially if it is an international transfer or it involves converting your New Zealand Dollars into another currency. These can soon add up and end up costing you much more in the long run compared to other payment methods. Therefore, it makes more sense to only use this method when you are either deposit a large amount (with a one time fee) or you are withdrawing an equally large amount – in fact, some online casinos insist on bank wire transfer for big jackpot wins due to its security.