Even though you can select any payment method from the ones listed at your chosen casino, selecting Instant Bank would be one of the most convenient means to an end to make smooth and fast deposits and withdrawals. This is a solution offered across every second, if not at every single casino, found under different names, but still performing the same service: a transfer of funds between banks. As such, it is suitable for any online casino player, regardless of country of residence, and a great option for operators to offer to cater to their varied, international player pool. That’s one of the reasons behind its insane popularity across the online gambling industry, and the reason why you should consider learning more about it, in case you ever want or need to use it. What is Instant Bank and why decide to use it as your online casino payment solution?
About Instant Bank
Instant Bank is one of those payment solutions listed across many online casinos that you can always rely on to provide you with the most convenient transactions. It is the go-to choice for many online casino players precisely because of the convenience it offers, but also because there are several other perks it offers them, which we’ll discuss now. But, first, let’s explain what this solution does.
Well, even though it might not be evident from its name precisely, this is a wire transfer solution, which functions through the interbank networks and connects the sending and receiving bank. That’s why you’ll find it under different names, wire transfer included, when browsing the payment methods lists across online casinos, nevertheless, it will provide you with the same service.
Namely, what it does is, it provides you with an excellent service, by allowing you to make both national and international transfers of money via your own bank account, through global wire networks, which arrive safely to the recipient's bank account. Some of the most popular wire networks found across the globe are the European SWIFT (Society of Worldwide Interbank Financial Telecommunication), the US Federal Reserve Wire Network, and the Canadian CHIPS (Clearing House Interbank Payments System). Thanks to these, the transfer of money can be completed to and from any bank in the world.
This brings us to the first perk that this solution offers: global availability. Regardless of your country of residence, you can use it, and regardless of where the casino is based, you can make deposits and withdrawals with it, and in any currency of your preference. Another advantage we should mention here, since the transfer goes through an interbank network, this is one of the safest payment methods to use, making sure that your transaction is processed using the banking industry-standard security measures.
We should also address the “instant” part of its name; if you’re using the solution for a national, local transfer, the transaction will really be instantly processed and completed. For international transfers, it will take a few days to be completed, even though it will instantly be processed by your bank.
Having all of these in mind, you should not be shocked to learn that the solution is offered by virtually every single online casino that operates, except maybe crypto-only sites, which won’t allow traditional payment methods. So, every casino that you come across, bar crypto sites, would be an option for you to consider joining. Therefore, in case you wish to know more about it to eventually use it, continue reading, as we’ll cover the getting started procedure next.
Getting Started with It
It is probably clear as day to you that, in order to get started with the solution, you’d have to be a bank account holder, first and foremost. But, you’d also want your online banking profile activated, for the transfer to be even smoother to request, especially for you as an online casino player.
Even if you’re not pre-equipped, you’d just need to visit the nearest bank to your home and open an account in a few minutes; while at the bank, ask the clerk to provide you with your online banking credentials, too, as well as your SWIFT code, for instance, if from Europe. Any bank would do, since all banks are part of global wire networks, and can perform the service.
To use Instant Bank for sending money, or in our case, for deposits, you’d need to just select the solution as your default payment solution. You’ll be prompted to use your credentials to log into your online banking profile and enter the needed transfer details. The recipient’s banking details are needed next, but in our case, the operator’s details will probably be pre-entered for your convenience; if not, get in touch with your chosen casino’s Support team and they’ll provide them to you. If the transfer is international, make sure you ask the Support agents for the operator’s IBAN, too, as it will be needed for the transaction to succeed.
Once you confirm your request, the transaction will be put in motion, and processed through the wire network, with the two banks involved communicating through it to complete the transaction. If the transaction is national, the deposit will arrive instantly, if international, in a few hours to a few days.
The procedure would go the other way around for withdrawals, but we'll cover both procedures next so that you know the exact steps you'd need to make to fund your online casino account and cash out winnings from it using Instant Banks. Let's go over them right away!
How to Deposit at Online Casinos with Instant Bank?
We’ve established that you’ll have plenty of online casinos to consider before you decide on the one to join since Instant Bank will be an option across most, if not all, online casinos available across the online gambling industry. Its availability is unrivaled, truly, so you'll have no issues finding a site to join fast.
Assuming you’ve found one already, register an account with it, providing some basic personal details. To successfully deposit with Instant Bank, you’d need to do the following:
Find the Cashier/Banking page at your chosen casino and go to its Deposits section.
Look for Instant Bank’s logo and press it the minute you find it.
In a pop-up, you’ll be redirected to a page where you’ll be prompted to use your online banking credentials and log into your online banking profile.
Type in the needed bank account details and specify how much you wish to deposit.
Confirm the transfer and depending on the nature of the transaction, the funds will either arrive instantly or in a few hours or days.
How to Withdraw Winnings with It?
Instant Bank is actually one of the players' favorite payment methods for withdrawals, especially when it comes to international transfers. While they wouldn't want to wait for hours or even days to start playing when using it for deposits, they are more than willing to wait to receive their winnings, as long as the withdrawal arrives safely in their bank account.
The procedure goes the other way around, as we briefly mentioned. You’d need to select the solution from the Withdrawals page and specify how much it is that you wish to cash out and enter your banking details, and international codes, if necessary. The casino will check out your request, and when all is set, approve it. The funds will reach your bank account in a few days.
Fees and Limits
Considering this is a solution that functions entirely through banks, it goes without saying that fees apply. For local transfers, you may avoid paying fees, but for international ones, expect fees to be charged, either by yours or the casino’s bank, or both.
The amount charged would depend on the banks involved, sometimes even on the amount of the transfer, so you’d need to get in touch with your bank to figure out more about the fees involved.
Allowed Countries
Expect no country restrictions with Instant Bank; as said, all banks in the world are members of at least one wire network, so regardless of your bank, you’ll be able to use it, no matter your country of residence.
The only obstacle you might come across would be the restriction implemented by certain banks regarding online gambling transactions. While, for instance, Canadian are greenlighting them, some banks choose to not process online gambling transactions, so before you attempt to use the solution for deposits and withdrawals, make sure you check your bank’s stance on this matter.
Accepted Currencies
Given its global availability, it goes without saying that all currencies are your option when transacting with Instant Bank.
Be that the US dollar, the UK pound or the euro, to name a few, you can rest assured that you’ll be able to transact using your native currency when you go with this solution. And if the casino you joined accepts your native currency, too, you’ll even avoid currency conversion fees!
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Who do I get in touch with in case I have issues with my Instant Bank transaction?
Since this is not a standalone product but a service offered by banks, you’d have to contact your bank’s Support service to find out what happened with your transaction; there’s no separate Customer Support Service to use here. Or, you can get in touch with your casino’s Support team, and see whether they can assist you with the matter.
Is it possible to use Instant Bank via an app?
If your bank has an app, sure, you could use your bank’s app. The solution, since it is not a product itself, but a service, does not offer a separate app, but as long as you’ve downloaded and installed your bank’s app, you can certainly use the service to make transactions via it.
Approximately, how big the fee can be when using Instant Bank for deposits and withdrawals?
The fee, as mentioned, would entirely depend on the banks involved, as operators rarely, if ever, charge additional fees for deposits and withdrawals. Usually, the fees range from as little as $5 to $10, to as much as $50 per transaction, depending on the amount transferred.
Is it possible for the withdrawal waiting times to be shortened in some way?
No, sadly, that’s not possible, especially when talking about international transfers. First, the casino must take its time to review your request, and that usually takes 24 to 48 hours, but then the banks need to verify the transaction and complete it, so expect your withdrawal to arrive in a few days.
What is the main disadvantage of using the solution across online casinos?
The withdrawal waiting times and the fees involved would be the major downsides of the solution, but compared with the perks you're getting, global accessibility, unrivaled online casino availability, safety, and instant deposits, in all currencies, we can safely say that there are more perks than downsides with the solution.
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