Out of all the options players get when it comes to payment methods, many usually opt for Euro Standard Bank Transfer. This is one of the basic, most secure forms for transacting for players from the EU and EEA area. It allows players to make simple transactions via their online banking profile, in their local currency, and as such, it is not only extremely convenient but also a very accessible payment solution. You will find it across most, if not all, online casinos catering to European players, as many players prefer it over any other. Operators that wish to cater to European players in the best way possible make sure to add it to their list of accepted methods, so you'll surely get a lot of casino options to consider before you decide on the one to go with. If it sounds like a solution you'd like to know more about, make sure you stay with us. What is Euro Standard Bank Transfer and why use it as your payment method across online casinos?
About Euro Standard Bank Transfer
The exact date Euro Standard Bank Transfer launched cannot be really pinpointed, but naturally, it happened around the time the internet appeared and it was one of the solutions that marked the beginning of modern banking. This is a payment solution used in the EU and EEA area, where transactions are completed in euros. It is the most basic form of transacting, where you need to log into your online banking account to initiate a transaction.
You will find it under different names, too, but basically, it allows you to make a transfer of money from one bank account to another, with the help of the European clearing network, SEPA (Single Euro Payments Area). Transactions are marked with special codes that users need to share with their respective banks in order for them to succeed. Several correspondent banks are involved in the process in the background, but the sender and recipient need to share details on their respective bank accounts and the respective codes.
We’ll get more into the procedure in the following section, but for now, all you need to know is that this solution is incredibly easy to use and convenient, compared to other options you’ll find across online casinos. Online casino operators that cater to European players certainly list it as a payment method, therefore, you can rest assured that it will be an option across many sites.
If you wish to know more about it, how to start using it, and to eventually start making your deposits and withdrawals with it across the many casinos that accept it, follow our lead, as we'll take you through all the steps.
Getting Started with It
We already mentioned that the solution is one of the easiest, basic payment options you’ll ever come across. As long as you’re a resident in a country within the EU and EEA area, and you have an active bank account, with your online banking profile up and running, half of your job is done. These are the two conditions you have to meet to be eligible to use it in the first place.
If you don’t have a bank account or you don’t have your online banking credentials, the first thing to do is to visit a bank (any bank would do) and request for an account to be opened in your name, or in the latter case, ask the desk clerk to give you your online banking credentials. While at the bank, make sure you also ask the desk clerk to share with you your bank account’s IBAN (International Bank Account Number) andBIC (Bank Identifier Code) code. You’ll need these codes to successfully request and complete a transaction.
Assuming you’re equipped with what’s needed, it’s time to learn how to start using the solution. You won’t need to create any new accounts to start using Euro Standard Bank Transfer, as all you’d need to do is select it as your payment method on the eCommerce site you’re paying at (or in our case the online casino), and then, as prompted, log into your online banking profile using the credentials you got from the bank clerk.
Once inside, you'd need to provide the recipient's (the casino's) name, the country of its bank (if not pre-entered), and its IBAN and BIC code. Enter the amount you wish to send and with that, the transaction will be put in motion, to safely arrive at the recipient's account in euros in no time.
When the transaction needs to go the other way around, in our case for withdrawals, the operator is the one that will need your IBAN and your BIC code, to send you your winnings safely to your bank account in euros. So, when requesting a withdrawal, you’ll need to enter your bank account details for the transaction to succeed.
Your banks will communicate through the IBAN and BIC codes and ensure the transfer of money is done in a safe and effortless way. So, if already convinced that this is exactly the solution you’d like to try for your deposits and withdrawals, continue reading to find out the exact steps you need to take to make them.
How to Deposit at Online Casinos with Euro Standard Bank Transfer?
There’s no doubt that most, if not all, online casinos catering to European players offer Euro Standard Bank Transfer. You may find it under a different name, a term that's bank-related, but there surely will be hundreds of sites you can explore to join to transact with it. So, the first task you must complete is to find the proper casino for you to register an account with.
Great options would be Tusk, Casoo and BetSomnia, but hundreds of others, really, are at your disposal. Create an account with the one that suits you most and you’ll be ready for the next step, depositing with Euro Standard Bank Transfer. Just follow these steps to detail:
Log into your registered player account at the casino and look for the Banking page.
Look for Euro Standard Bank Transfer’s logo (or any bank-related term) in the Deposits section and press it.
In the new window, enter your online banking profile credentials.
Once you’ve accessed your online banking profile, enter the operator’s bank account details as described earlier.
Specify how much you wish to deposit and confirm your transaction.
Instantly or in a few hours, the money will reach your casino balance safely.
Side note: Depending on whether the banks involved are in the same country or a different one within the EU and EEA area, the transfer can be instant or might take up to a few hours. Nevertheless, on the same day you initiate the deposit, you'll be able to start playing your favorite games.
How to Withdraw Winnings with It?
Given the fact that the transaction goes through banks, it goes without saying that Euro Standard Bank Transfer is an option for withdrawals.
We even mentioned earlier that for withdrawals the transaction will go the other way around, with you sharing your IBAN and BIC codes with the operator for your winnings to arrive safely in your bank account, so all you have to do is select the solution from the Withdrawals section and enter the required details. After you specify how much it is that you wish to cash out, the operator will check out your request and if all is in order, approve it and have its bank send you your winnings to your bank account.
Fees and Limits
Euro Standard Bank Transfer transactions are incredibly inexpensive and usually come with basic transfer fees.
These fees would depend on the banks involved in the process, but you will barely notice them, as the SEPA system was designed to facilitate the way Europeans transact online in their native currency and make their transactions as cost-efficient as possible.
Allowed Countries
When it comes to the countries that offer the solution, the 27 member states of the European Union are the allowed countries, plus Norway, Liechtenstein, and Iceland, which are not part of the EU but part of the EEA area.
If you’re a player from any of these 30 countries, you can rest assured that you’ll be able to use Euro Standard Bank Transfer as your payment method. Keep in mind, though, that not all of these countries offer legal online gambling. Cyprus caused general controversy when it banned online gambling, for instance, but many other European countries also decided to take an anti-online gambling stance. So, before you decide to use Euro Standard Bank Transfer, make sure you double-check whether online gambling is legal in your country, as your transactions will certainly be recorded in your bank history and you could get in trouble, but they also might even fail.
Accepted Currencies
Euro Standard Bank Transfer does not cover transactions in currencies other than the euro, considering it works through the SEPA network.
You won’t be able to use a different currency, so before you select the casino to join, make sure you choose one that offers the euro as one of the supported currencies you can make your default when making deposits and withdrawals, to avoid any complications or conversion fees.
Euro Standard Bank Transfer Casinos
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Do I need to download any apps to use Euro Standard Bank Transfer?
Not necessarily, no. In case you wish, you can download your bank’s app and initiate the transaction from there, but you can as easily transact with the solution via any web browser. You do need to have your device connected to the internet, though, for the transaction to succeed.
How many European-targeting casinos offer Euro Standard Bank Transfer?
Hundreds, really. We’re talking around 800 sites that offer Euro Standard Bank Transfer under this name or some other bank-related term. As long as you have your codes, and your online banking credentials, you can transact with it across hundreds of sites.
How do fees range when transacting with the solution?
Fees range depending on the amount transacted and can go anywhere from €5 to €10 for smaller amounts sent, or €50 or more for bigger amounts. Get in touch with your bank to find out exactly how big of a fee you'd need to pay for the transaction you'd like to make.
How long do withdrawals take with Euro Standard Bank Transfer?
Withdrawals with the solution won't be instant if that's what you're interested in. First of all, operators take 24 to 48 hours to check and approve your request, and secondly, the banks need to communicate before they complete the transaction. So, expect your winnings to arrive in a few days safely in your bank account.
Can I use a smartphone to make deposits and withdrawals with the solution?
Without a doubt. You can use any device, as long as connected to the internet, to make safe and smooth deposits and withdrawals with the solution, across hundreds of online casinos. Whether you prefer a smartphone or a laptop, is up to you, but as long as you have your banking details and codes at hand, you're good to go.
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