Across online casinos you're exploring, you may have noticed inter-account transfer as an option for deposits, and you may be wondering how it could be used to fund an online casino account with. Sure, it does seem weird, but there are reasons why it is offered, the main reason being foreign currency transactions. Sometimes, you may find yourself frequenting a casino that does not accept your local currency, so you'd need to make the deposit in a foreign currency. In that case, inter-account transfer will be the best option to make the transaction, by using funds from your foreign currency account. We'll go into details in this article, but for now, it is important for you to know that it is, indeed, a great option in the lack of better ones. What is inter-account transfer and why use it as your payment method at an online casino?
About Inter-Account Transfer
If you ever had bank accounts active, you must know what an inter-account transfer means. This is the transfer of money from one of your bank accounts to another. It means a transfer you initiate by yourself to send to yourself, from one account to another. So, when you came across this article about its use across online casinos, you must have wondered, how and why it can be actually used. That’s where we come in, to clear things up.
On its own, true, the solution is weird, to say the least, to be offered at an online casino for deposits. However, have you thought about all those times when you've joined a casino that does not accept your native currency but accepts the foreign currency you have an account in? Or when you had funds on one of your accounts but could use more from a different account to complete your deposit? That’s where inter-account transfer shines in.
This solution allows you to move money from one account to another to complete a full transaction. It can be in your local currency in case of insufficiency, and it can be in a foreign currency, in case your transaction requires it. As such, the solution is perfect for online casino deposits across international online casino sites. Regardless of your country of residence or your local currency, you can use it to make the smoothest and safest deposits at your chosen online casino. So, if interested in knowing more about it and how to put it to good use, follow our lead as in the next section, we'll guide you through the steps you'd need to take to get started with it.
Getting Started with It
The best thing about this solution is that you don’t need to take any further steps than open two or more bank accounts with the same bank. We’re talking at least one in your native currency and one in a foreign currency, if not more. If you already have them, good, you’re ready to continue, but if not, now it’s a great time to do it. Just visit any local bank and ask the desk clerk to open the accounts in your name, specifying the currencies you’d like to use. Of course, you’d need to fund those accounts right then and there, while at the bank, to have funds at your disposal to use the solution if needed.
Assuming you’re now equipped with the accounts, it is time you learn how and when to use the solution at an online casino. We said that in case you have insufficient funds in one account but you've got more in another, to make a bigger deposit, you can combine them to complete the transaction. You’d need to log into your online banking profile and first do the inter-account transfer, specifying how much you’d want to transfer from one to another account. Or, in case your casino does not accept your local currency but accepts the foreign currency you have an account in, transfer money from your local to your foreign currency account.
As you'd assume, these transfers between accounts will be subject to fees, conversion fees, which you'd need to have in mind. Just like any other currency exchange, the fee will depend on the exchange rate for the day you're making the transfer, so you better get in touch with your bank to know more about the rate.
Now that you know how the solution works, let's see next how the depositing procedure will be with it. One thing you should be certain about is that you will find it listed across a surprisingly decent number of casinos so that you can select it as your method whenever you need it.
How to Deposit at Online Casinos with Inter-Account Transfer?
Inter-account transfer, as introduced, may seem like a rather unusual payment method to be offered across online casinos, but it still is and across a decent number of global casinos. The reason why operators offer it to players is obvious: they want to give global players the chance to fund their casino accounts in the most convenient way. And since there are so many such players in need of it, this solution is an option.
So, the first thing you need to do here is find at least a handful of casinos that accept it and then go over their offering. The minute you find a nice casino, that not only offers your favorite games but also has a wide range of bonuses and promotions you could use, register your player account with it. From here, to successfully use inter-account transfer to make your first deposit, go through these steps:
Use your credentials to enter your registered player account.
Find the Payment Methods/Banking page and look for Inter-Account Transfer’s logo.
Redirected to a different page, you’ll be prompted to enter your online banking profile as you normally do.
Right there on the spot, specify how much you want to transfer from one account to another.
Once you have the funds in the desired account, enter the amount you wish to deposit at your chosen casino.
Confirm the transfer, and in no time, the funds in your preferred currency will arrive on your balance.
How to Withdraw Winnings with It?
Due to its nature, the solution is not offered for withdrawals. Considering operators have many different ways and channels using which they can send you your winnings, they do not need this solution to complete a transfer.
For that reason, whenever you select it as your deposit method, make sure you have a different method prepared for your withdrawals, as this one won’t be an option. To give you a hint, you could use global eWallets or even digital currencies to get exactly how much you won, without paying any hefty fees.
Fees and Limits
Given its nature, both fees and limits are to be expected, naturally. You will be instructed by your bank on the precise numbers since this will solely depend on the bank.
You will be told how much really can be transferred from one account to another and at how big of a fee. The operator, however, won’t charge you extra for your transfer.
Allowed Countries
This banking option is offered by all banks from all over the globe, so when it comes to availability, you can rest assured that regardless of your country of residence, you’ll be able to use it.
Now, one thing to keep in mind is that online gambling is not allowed everywhere, and in fact, plenty of countries have banned it, like Russia that put a ban long time ago, or China. If you are a resident of such a country, you better avoid using the solution, as the transaction to the casino will be marked as an online gambling transaction on your bank account statement.
Accepted Currencies
It is probably clear to you by now that any currency can be used with this payment solution. One of your accounts might be in your native currency, like the euro, and you may have a foreign currency account in US dollars, so you can use them both for your online gambling purposes.
Now, the thing to watch out for when joining an online casino is the supported currencies, since you’d want to join one that accepts at least one of the currencies you have bank accounts in. That way, you’ll avoid unnecessary and additional currency conversion fees.
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Is there an official website I could visit to find out more about inter-account transfer?
The solution itself is a service offered by individual banks, so to find out more about it, you can visit your bank’s official website. If they are offering the service, and most of them are, they will have a page or a section on their official website to inform users on how to use it.
Who do I get in touch with in case I want to ask something about the solution?
You have two options: one, to contact your bank, and two, to contact your online casino's Support team. Your bank will certainly provide you with all the answers you need on the questions related to how the solution functions, while your casino's Support agents will assist you with anything you might need when it comes to making deposits with it.
How do I know whether my bank allows inter-account transfers?
Most banks certainly do, as this is a normal functionality a casual bank account user needs. But, just in case, do not hesitate to get in touch with a bank representative to ensure that it is, indeed, a service you can use.
Is it possible to use this service for withdrawals?
It is highly unlikely because we have found no casino that offers it for withdrawals. You may want to try transferring funds from one account to another prior to using a standard bank transfer, as a bank transfer is usually an option for deposits across most online casinos, but that would be your only option.
How many online casinos approximately offer inter-account transfer for deposits?
We cannot sugarcoat the fact that not that many options are out there, but you will still find at least a dozen online casinos that will offer the solution as it is. In case you like a casino and would like to perform the service to make a deposit, you might need to consider doing the inter-account transfer prior to making a deposit with a regular bank transfer.
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