Types Of Money Transfers Available at Online Casinos

One of the payment methods that you’ll certainly find across most, if not all, online casinos, is money transfer. It has been around in the online gambling industry since its very dawn; therefore, it has been serving players from across the globe for years now. It is the perfect choice for players, since regardless of their country of residence, with it, they can make smooth deposits and withdrawals to any online casino, regardless of where it is based, in their local currency. Being such a convenient method for global casinos and players alike, it is also one of the most popular solutions in the online gambling industry. So, what is money transfer, and why decide to use it as your payment method at an online casino?

About Money Transfer

While there are plenty of useful payment solutions for international transfers, money transfer is by far the most convenient and efficient method to use for sending and receiving funds regardless of the countries where the sender and the recipient are located in. That’s actually one of the main reasons why this solution is extremely popular across the online gambling industry since players from any country in the world can make smooth and effortless deposits and withdrawals to and from any online casino, regardless of where it is based.

Even though many players opt for credit and debit cards to make deposits and withdrawals, since they are already using these cards in their everyday lives for all kinds of purchases and payments, many players think differently and don't want to share card details with the casino operator. And that's where money transfer comes in. Offering a convenient, and maybe even more effortless service, this is a solution using which you keep all your banking and card details to yourself, while still being able to make an international transfer of money.

What happens is that this is a service that acts as the intermediary, making sure the funds arrive from point A to point B safely, through their network. In the past, brands that offer the service, like Ria, MoneyGram and Western Union, used to have only physical presence, with offices scattered all around the globe, in every corner of the street, in every city, in every country. With the arrival of the internet, all of these brands went online, even further facilitating the process of sending and receiving money to users.

The main reason why the service was invented in the first place was the lack of such a service that would help immigrants send money to their loved ones overseas. And while it is still mostly used for the same purposes, its scope has expanded, and today, people are using it for all kinds of things that involve the transfer of money, including online casino deposits and withdrawals.

And in fact, this is one of the most popular solutions for deposits and withdrawals among players and operators alike. Any player, from anywhere across the world, can use it, so operators insist on having at least one brand that offers the service listed on their accepted methods lists. Therefore, if willing to give it a try, stay with us to learn how to get started with it, to eventually start using it across online casinos.

Money Transfer vs. Wire Transfer

One of the first things we need to distinguish here is that, even though you'll find them both across online casinos, there's a difference between money transfer and wire transfer. Even though they both facilitate international transfers of money, they are not the same thing, as we’ll explain next so that you don’t confuse them.

As mentioned, the former is a service where providers send the transfers through their own network, their own communication systems that offer asecure passage of money from point A to point B. For just a small service fee, you can send/receive money with them any time of the day, any day, without ever having to share any banking details with the operator. The latter, wire transfer, on the other hand, runs through the banking system, meaning bank A and bank B are involved in the transfer, through bank-related networks like the European SWIFT. Wire transfer is basically an electronic funds transfer (EFT) where two banks communicate via the SWIFT system to ensure the funds are credited from one bank to another.

Getting Started with It

Now that we got that out of the way, let’s focus on how money transfer, the third-party service provider, actually works. So, the first thing you need to decide is whether you’ll initiate the transfer offline or online. If offline, as said, all of the brands have a huge network of offices all around the world, so you’d just have to leave your house, look around, and you’ll find one. If online, you’d need to visit the official website of the brand you went with, and that would be it.

In both cases, you’d need to fill out a form, where you'd need to enter the recipient's personal details, the country they are located in, and the way in which they'd like the money to be delivered to them, be it bank deposit, home delivery or physical pickup at any of the service provider's offices. Then, you'd need to enter the amount that needs to be sent, in the currency of your preference, and pay for the actual transfer, using eWallets, bank transfer, cards or even cash, if you went with the offline option.

We basically described how the depositing procedure would go with the solution just now, but the withdrawal procedure will be the other way around, so basically the same, only initiated by the operator. Continue reading to find out the exact steps you'd need to make to make deposits and withdrawals with money transfer, as we'll explain them next.

How to Deposit at Online Casinos with Money Transfer?

The first thing we should emphasize here is that the solution is, indeed, one of the most frequently offered payment methods across online casinos. Seriously, you’ll find it across any online casino you’re eyeing. So, find the one that would work for you best, and create an account with it.

To make a deposit with money transfer, do the following:

1. Locate the Cashier/Banking page at your casino and visit it.
2. Look for the Money Transfer/Ria/MoneyGram/Western Union logo and press it.
3. In a new window, a form will appear, with the operator's details pre-entered, so you only need to fill in the field for the amount that needs to be sent and the currency.*
4. Confirm the transfer and watch the funds arriving on your balance immediately.

* In case the operator’s details are not pre-entered, which would be highly unlikely, get in touch with the casino’s Support team and ask for them; they’ll be happy to assist.

How to Withdraw Winnings with It?

Withdrawals with the solution are common, too, but not as common as deposits really. Don’t despair, as you’ll still find plenty of online casinos that offer withdrawals with it.

The thing is, since the procedure goes the other way around, you’ll be the one that does most of the info entering, as you’ll be the one that needs to specify how much money needs to be transferred, in which currency, and how. Meaning, you’d need to choose your preferred way for the delivery, depending on the options offered by the provider. The operator will take its time to review the request and eventually send the money, but once sent, the funds will be yours to pick up in no time.

Fees and Limits

Both fees and limits would apply when using money transfer, but these would be much more affordable and convenient compared to those charged when using wire transfer.

So, each brand that offers the service sets out its own fees and limits; some even come with no limits. But fees are always charged for the basic service costs. These would depend on the amount of money being transferred and the countries involved. Don't worry, though, because as soon as you complete the form, the transfer fee is calculated, so you'll know how much is it before you complete the transaction. You can always cancel it if the fee doesn't work for you.

Allowed Countries

Most of the service providers facilitate transactions to and from any country in the world. Some come with some restrictions, but you’d need to check with the brand you want to go with, to see the country availability.

But, you can safely say that no matter your country of residence, you’ll certainly find at least one brand that will allow you to make the desired transaction, regardless of the countries involved.

Accepted Currencies

Since this is a solution offered globally, money transfer allows you to use any currency you wish. All of the currencies of all the countries in the world are your options.

The US dollar is always an option with all providers, as is the euro and the UK pound for instance. Some providers even presented service via their apps to buy and sell crypto, too! Therefore, your choices are limitless.

Helpful links:

• Ria official website
• MoneyGram official website
• Western Union official website