For many e-commerce and online merchant platforms, banking is a thing of the past. With so many new and advanced financial institutions, as well as a range of completely revolutionary payment processing technologies, there is plenty to choose from.
Since the early days of the e-commerce industry, to its most prominent branches, the need for safer, faster and better payment solutions is what prompted such rapid and diverse development. Existing institutions adapted their current products to meet the needs of the new online marketplace, while new businesses worked to develop unique ways to approach the matter.
In this regard, numerous online payment processors...
... have since gained prominence. Most of these represent e-wallet solutions, as well as online intermediary services, although some have gone as far as to develop entire cryptocurrencies. Starting with Bitcoin, through the number of derivatives created from its basis, these are as far from regular, familiar banking practices as possible.
Yet, many of them are still working on perfecting various aspects of their services – speed, stability, reliability and the likes. Only a few are already at that level, and local/fast bank transfers are definitely among them.
About Fast Bank Transfers
Banks have existed for some centuries now, since the early days when the institutions would help people store their money, through offering the first cashless transactions, all the way to credit.
Nowadays, banks...
... are additionally able to provide their services to all interested customers through their online platforms. People can manage their funds, request transactions and handle all kinds of charges and operations straight from the computer or mobile device screen.
These kinds of services were commonly known to take a lot of time, until the latest techniques amended that. Local, or otherwise known as fast bank transfers are specific transactions from one bank to another, i.e. between two of their accounts, on a local, countrywide level.
Due to these specific features, it is not to be confused with the more widely familiar bank wire transfers. While they both signify the process of transferring funds from one bank account to another, wire transfers are additionally known to be executed across an international level. They take longer to complete, which is understandable given the extent of their coverage; additionally, such transactions would likely be subject to fees and charges.
Fast Bank Transfers: In Details
The Local/Fast Bank Transfers are normally performed between account holders from two different banks within the same country. This contributes to improved execution on a range of levels – security, speed, compliance to legislation and standardization provisions, as well as dedicated customer service.
This kind of bank transfer...
... works much alike the regular wire transfer people have grown used to. All you need to do is make sure that the banks in your country provide the service, since it is a transaction made on a national level.
Additionally, check if the online merchant of your choice also offers the Local/Fast Bank Transfer option as a payment method on their site. For this, they would need to hold an account at the banks in your country, which may not be sustainable for major brands with global presence. In such cases, the e-commerce platform usually offers a range of other payment methods, managing to meet customers’ needs with a different approach.
If both parties meet the necessary requirements, you can easily perform payments and deposits in exchange for the services or products you’d like to get.
Head to the banking page of the online merchant’s website, and look for the Fast Bank Transfer icon among the list of available payment methods. Click on it to select it as your preferred payment option.
Choosing it will open an additional window – customers can input the specific amount of funds that they are supposed to credit to the merchant. In case of fees charged by either them or the bank, you will need to calculate the specific amount in order to cover your expenses, plus the additional charge.
After confirming the amount, a different window shows customers their payment reference – this piece of information identifies your transaction. Enter your own bank from the selection and you will be provided with the merchant’s banking details (account number, currency and more). Such information is crucial in performing the actual payment.
Customers can take these details straight to their nearest bank establishment, provide them over the phone or use them to execute the payment by themselves at practically any ATM around. With this step, customers finalize their transaction and are left to wait for the funds to be credited to the appropriate recipient.
Security is a major concern in these situations, especially since individual bank account holders are supposed to share financial information. However, it is most reassuring to know that they are actually informing the recipient’s bank and no one else.
With banks...
... being among the safest institutions due to rigorous inspections and security standard practices they need to uphold, transactions through their gateways are most reliable.
The established reputation, renowned system and familiar services have popularized this method among a variety of e-commerce platforms nowadays. Retailers, online service providers, employment websites and exchange platforms are just a few of the range of e-merchants making use of this payment method wherever possible.
Using Local/Fast Bank Transfer for Online Casino Sites
Among the many e-commerce platforms packing this payment method, interactive gaming operators have been among the most welcoming. Their entertainment services allow them to reach a massive target audience, while specific segments such as banking and bonus offering contribute to a more personal approach.
Most often, gambling operators tend to offer as many banking options as possible in order to ensure player satisfaction. These include top credit card and debit card companies – MasterCard, Visa, American Express, the top e-wallet online payment systems – PayPal, Skrill, Neteller, PaySafeCard, Trustly and even the latest cryptocurrencies – Bitcoin, Litecoin, Dogecoin, Ethereum.
Fast Bank Transfer for Online Casino Deposits
The process of making an online casino deposit is much like any other payment, hence greatly resembles the procedure illustrated above. Nonetheless, players are advised to pay close attention to each guideline here, as well as on their specific casino site in order to avoid any issues.
Step 1: Find a suitable online casino that holds an account in your country and features Fast Bank Transfers as a payment option. Moreover, check for game software providers, availability of player promotions and anything else that contributes to your entertainment.
Step 2: Head to the banking section and select the icon for the Fast Bank Transfer method. This action will immediately trigger a new window with designated boxes. Input the amount you want to deposit, as well as any additional information on bonuses and deposit match offers that you may be looking to claim at the time.
Step 3: Moving on to the following step, players will get the payment reference as a unique identification for their transaction. They are supposed to select their own bank out of the provided list of institutions and the casino’s banking details will appear. Their bank account, currency, account holder name and other information are all mandatory for the completion of the payment – get them and finalize the transaction at your bank, via phone banking or at the ATM.
Step 4: Going back to the casino website after completing this procedure, you may need to be a bit patient. These transactions normally depend on your responsiveness –how soon you perform all steps of the procedure, but also on the platform’s processing times. Either way, you should be able to see the funds land in your player account in about a day or so, allowing you to show off all your skills and know-how on the real money gameplay options.
Fast Bank Transfer for Online Casino Withdrawals
Considering that withdrawals are just deposits made in the opposite direction, players should already be partially familiar with the procedure.
Step 1: Head to the banking section of your online casino and choose Fast Bank Transfers as a withdrawal option. Now, once you have used your bank account for this kind of deposits, you can simply enter the same account as a recipient of your withdrawal amount.
Step 2: Aside from the bank account, the player will additionally need to specify the amount of funds they wish to cash out of the casino. The information should be input in the popup window, and confirmed by the end of the process.
Step 3: Since the casino are the ones sending the funds in this case, they will be the ones to receive the payment reference and settle the transaction. All that is left for players to do is offer some proof of identification, normally required by operators and legal institutions alike. These players tend to use bills and personal documents to prove their identity and address.
Step 4: After the casino verifies your ID, you will receive the reference number and the funds from the transaction straight into the specified banking account. It is advisable to check the balance before using it next, just to confirm that all is in order.
Advantages of Online Casino Fast Bank Transfers
Security and reliability – Banks are normally authorized by the respective licensing body for financial security, as well as other legal provisions referring to real money transactions. This is the foundation of the banking method, further supported by the following point.
Direct and immediate connection – It is a fact that these local transfers eliminate any intermediary payment processors. So, players do not share banking information with anyone other than the banks involved in the transaction, which is a huge advantage towards greater security and easier connectivity.
Familiarity – Even with the novel technology, better encryption and confirmation procedures, this method still follows the principles of online banking. This has been a familiar and established way of transacting since the start of e-commerce businesses, benefiting modern online casino players through the familiarity with the service.
Lack of fees – Due to the specific nature of these transactions, banks normally avoid charging fees for their execution. Some operators however, may be prone to impose a fee for using this service, although this is practiced much more rarely due to the negative effects on player satisfaction.
Convenience – Due to all the aforementioned points, as well as its device and OS compatibility features, the generally interactive, easy-to-use layouts and more, convenience is yet another benefit identified directly with the Fast Bank Transfer.
Disadvantages of Online Casino Fast Bank Transfers
Country restrictions – As mentioned in the beginning, you are good to go with this payment option as long as your casino holds an account at the local banks. Otherwise, players will need to look for an alternative method. What is more, the top ranking casinos boasting an international player base may be unavailable for players looking to perform banking in this manner.
Speed of transactions – Neither deposits nor withdrawals are performed instantly, which may be a nuisance for some players. The former usually take up to a day to verify, but the latter are bound to take an average of 3 to 4 workdays before completion.
Local/Fast Bank Transfers Casinos
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What are the minimum and maximum limits for deposits and withdrawals with this payment method?
The minimum and maximum limits for Fast Bank Transfer deposits and withdrawals differ from one case to another. In fact, they mainly depend on the online casino operator’s terms and conditions, as well as any restrictions imposed by the specific banks.
Is there a customer support service I can turn to for any issues with the banking method?
For any issues or inquiries, players can turn both to their specific bank of choice that allows this type of transaction, and the customer support at their casino site. Both destinations normally include all the latest contact channels – phone, email and live chat, although minor issues could be resolved through some help from their FAQs.
Could you name some of the top online casinos that offer this banking method?
What are the usual fee charges that may be imposed for this banking option?
Just as the case with amount limitations, fee charges are normally imposed on separate occasions and usually determined by the casino operator.
Are there any specific charges for using the banking option on my mobile device – smartphone or tablet?
The Local/Fast Bank Transfers are subject to the same fee rates, if any, no matter the device used to perform the transaction. However, players are advised to check with their banking institution – some of them are known to charge separately for using mobile banking apps or platforms, regardless of the type of transaction in question.
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