Direct bank transfer (known also as bank wire transfer) is the oldest method of payment, and nowadays, after these transfers were updated with the possibility of conducting transfers from your personal computer, they’ve become the most secure and most reliable way of making a deposit into your online casino account, as well as internet purchases. With this method you have total control over when, where and in what amount you want to transfer funds, which are universally accepted by all e-commerce establishments, including online casinos in South Africa.
In order to make a bank transfer, a current bank account is required with sufficient funds to cover the intended amount you wish to send, along with all fees for the transaction. Traditional banking is still an option – you may go to your local bank, fill out the form and complete the transaction, but in the digital age, bank transfers are more commonly completed using online banking. When making a bank transfer, the total amount (plus the fees) is deducted from your bank account. Afterwards, you will have to wait a certain preretirement period of time, ranging from a few hours and up to 5 working days, before the transferred funds are received by the online casino and successfully deposited into your casino account. Withdrawals are possible with direct bank transfer, but like the deposits, they too are fairly slow.
Almost no online casino in South Africa will refuse a direct bank transfer. The reason is that it’s a very reliable and extremely secure method of payment. The one disadvantage, its slowness, is not a problem for the online casinos, as they don’t have to credit your account until the funds arrive safely. Gamblers are able to withdraw winnings via bank transfer as well, but you may find that sometimes it’s faster to simply request a check from the casino.
Direct bank transfer is still the most secure, safest and uncomplicated of any online payment methods. No sensitive data of any kind is revealed to the online casino where you are making a deposit. There is no risk of accumulating debt or interest charges. You can choose in advance the exact sum you want to spend. Direct bank transfers are limited to an amount higher than most other methods for online payment – more than 300,000 Rands per transaction.