Nowadays, gamers have access to multiple payment options and can choose the one which suits them the most. While e-wallets and crypto become more and more popular, there are still many players who prefer bank transfers. Moreover, according to CasinoHex, most players choose this option over others because bank transfers can offer numerous advantages.
Bank transfers have been around for many years and considering that almost everyone and their cat owns a bank account, it becomes rather simple to make a transaction and enjoy your favourite games. Even though there are still several factors to consider. For example, the game you are playing, terms of the bank, and the payment network the card operates on (Visa, Discover, etc.). Continue reading and we will tell you why gamers should pay closer attention to bank transfers.
Bank transfer has lots of different names including wire and credit transfer. The concept suggests transferring cash digitally from one banking account to another. If you already have a bank card, there is no need to go to an office to make a transaction because everything can be made from home easily and quickly. To pay for the game or to make a deposit, you only need to choose Bank Transfer in the list of available options and then insert details of your card. Voila, your payment is completed!
Advantages of Bank Transfers
There are many reasons why players choose this payment option and we will introduce you to the most common ones.
Bank transfers remain one of the safest banking methods on the modern market. Bank cards have been in the arena for more than 50 years and established a solid reputation. They are regulated internationally, have strict policies, and constantly improve security measures to prevent fraud. Plus, there are lots of encryption tools and technologies applied.
To fund the account, you don’t need to use third parties and mediators because the bank card details are inserted in the cashier section. This also adds an extra layer of security.
2. High limits and fixed fees
Another reason to choose bank transfers is the available limits and fees. While most banks set limits per one transfer or day, these limits are usually more than generous and can reach $100,000 for a transfer. Plus, there is usually a fixed fee and not a percentage. That is why you don’t have to puzzle yourself and calculate how much you will need to pay.
3. Available on most platforms
Considering that billions of people have bank cards, it will be safe to say that bank transfer is the most common payment method on Earth. This means that the majority of gaming platforms offer this option and you won’t experience any inconveniences and a need to search for alternatives. You can make a payment simply by indicating card details and not by setting up and verifying a new account first.
Disadvantages of Bank Transfers
It is impossible to find a payment method that would have only positive features and bank transfers are not an exception. Here are a few drawbacks to consider when deciding whether this option is for you:
- Slower compared to e-wallets and crypto. Usually, you might have to wait for a few hours until the money land on the account.
- You will need to disclose personal information like your full name.
- Higher fees. Usually, e-wallet transfers are cheaper (1-1.5% per transaction).
Comparison with Other Payment Methods
Considering that almost every person has a bank account, it is not surprising that bank transfers are accepted by most gaming platforms. That is why when choosing a game, you can be almost 100% sure that it is possible to pay with a bank transfer without a need to open new accounts and wallets.
When compared with other payment options, bank transfers have their pros and cons. For example, you don’t have to share data with third parties (which is required for e-wallets). But crypto payments can be much quicker and more secure. There are lots of alternatives and you have the freedom to decide whether bank transfers are suitable for you. Remember, your comfort and security are in your own hands!