Wire transfers are one of the safest, easiest, and quickest ways of funding one’s online casino account. The term ‘wire transfer’ comes from the historical fact that money transfers were processed over telegraph wires back in the 19th century. However, in the last ten years, this has seen a great evolution worldwide.
Currently, wire transfers are processed online and the term refers to transferring funds between accounts. Internet casinos in New Zealand offer wire transfer as a payment method allowing Kiwi players to make instant deposits and withdrawals at their favourite casino. Read on for more on casino wire transfers and find the best wire transfer NZ casino to play at.
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What is a Wire Transfer?
Wire Transfer is a term used to refer to the process for moving real cash from one bank account to another. At internet casinos, money is moved from the player’s bank account to that of the gambling site. While such transfers are usually performed by banking institutions, there are also other money transfer companies such as the popular Western Union. The Western Union path requires players to apply online or visit the company’s local offices.
Why Use Wire Transfer at a Casino
Using wire transfer is secure and simple; especially via bank wire transfer. This is a method Kiwi gamblers can trust in. More so, bank wire transfers at a casino come with many benefits including higher deposit and withdrawal limits than other casino banking options. Top-rated NZ casinos, such as those on our list, allow wire transfers as a withdrawal option. Although credit cards are popular, other internet casinos may not allow Kiwi players to withdraw back to their MasterCard credit card or prepaid vouchers.
How to Make a Wire Transfer Deposit
Making a bank wire transfer to an online casino is easy. All you need is a current NZ bank account to complete the transaction. Choose your favourite wire transfer casino on our list and follow the easy and quick steps below:
- Visit the cashier page at the wire transfer casino site.
- Select the ‘Bank Transfer’ or ‘Wire Transfer’ option.
- Enter your bank name, address and your account number.
- The wire transfer casino will either supply you with a special online account number (Virtual Account Number – VAN) or their own details.
- Select the amount you wish to deposit onto your wire transfer casino.
- Deposit your funds using the casino username or the VAN as your reference.
Kiwi players can use their mobile banking app or make deposits at their own bank. Usually, transfers take from 1-10 days. However, this depends on which banks the player and casino are using. Some banks have a Fast Transfer option, meaning your deposit can be processed even quicker.
Wire Transfer Withdrawals
Making an online casino wire transfer withdrawal is relatively easy. Players only need to follow the steps below:
- Visit the cashier section.
- Select withdraw via wire transfer.
- Enter your bank account details. Double check if you’ve entered your bank account details and other information correctly.
- Click ‘confirm’ to have your wire transfer withdrawal processed.
Advantages of Using Wire Transfer
Casino wire transfers come with a lot of advantages including the following:
- They are highly secure.
- There is no need to reveal your details to third parties.
- Wire transfers are the most suitable payment option for high rollers.
- You can deposit and withdraw using wire transfer – no need for an alternative method for cashing out.
- They give you fast access to your money – fast wire transfers usually take two to three days.
- Wire transfers have minimal to no fees if the player is transferring money between two NZ bank accounts; this also depends on the type of account they’re using.
Disadvantages of Wire Transfer
Although wire transfers can be a handy way of funding your online casino account and making withdrawals, there are also associated disadvantages which players should be aware of. Below is a quick list of the cons associated with bank wire transfers.
- Time consumption – wire transfers are not instant. So, expect to wait anything from hours to a few days for your transfer to go through.
- Wire transfer charges – this method charges potentially high fees if a player does an international wire transfer.
- Limited recourse – bank transfers do not offer the various levels of consumer protection offered by credit cards when you’re using them to buy goods. It is extremely difficult to reclaim any money once it’s transferred. However, this is something gamblers shouldn’t worry about as they can reclaim their real money back by requesting a wire transfer withdrawal.
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