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Bank Transfers and Wires

Bank Transfers and Wires

For many years, millions of people have trusted bank transfers and wire transfers to transfer money between accounts. From high level transactions to migrant workers sending money home to their families, these methods have been chosen for their speed, security, reliability and ease of access from almost anywhere.

This type of money transfer is simplicity itself, but it does require that you actually go to your bank. It’s therefore perfect for those who don’t have access to online or electronic banking facilities. All you do is go to the bank and instruct them to make a transfer of the amount of money you want moved to another account. A secure message is then sent from one bank to the other to effect the transfer, instructing it to pay the money to the designated recipient. It should be noted that fees are typically charged on both ends of the transaction – as the sender you pay a fee to your bank, and the receiving bank deducts a fee from the amount that it pays to the recipient.

Many people worldwide identify bank and wire transfers with the most historically visible enabler of such transactions – Western Union. However any bank can facilitate this sort of transfer. All that’s required is that the banks involved hold accounts with one another.

There are numerous advantages to using bank transfers and wire transfers. Firstly, as we’ve said, they’re convenient when you don’t have access to electronic funds transfer mechanisms.

Secondly, they’re very secure. Not only must both parties positively identify themselves, but a bank transfer or wire transfer will only be sent by the bank once it has confirmed that the sender has sufficient funds available.

Thirdly, reliability is a hallmark of bank transfers and wire transfers. A massive volume of these transfers is processed in any given period, making it essential for banks to have robust failover technology to ensure uninterrupted transmission.

So if you’re looking for a hassle-free way of transferring funds for your casino play – without the need to open any special extra accounts – bank transfers and wire transfers make a good choice.

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