If you’re looking for a simple and reliable way to fund a betting account, you can’t go far wrong with bank transfer. Pretty much every top sportsbook and betting site lets you deposit funds via this method.
To find out whether bank transfers will work for you as a deposit method, you’ll want to read on. We’re going to point you toward the best bank transfer betting sites. We’ll also answer all the questions you might possibly have about the payment method. So, let’s get cracking.
Betting Sites That Accept Bank Transfer
Deposits, Withdrawals & Time Scales
|Betvictor||0-48 hours||£25||No Limit|
|William Hill||48 hours||£20||£50,000|
Best Bank Transfer Betting Sites & Why:
The following list details the best bank transfer betting sites and why we picked them:
- Betvictor – best odds & limits
- Bet365 – biggest bonus deal
- William Hill – great promotions
- Coral – good all-rounder
- Betfred – double sign up offer
- Betfair – betting exchange and bookmakers
- Ladbrokes – trusted UK name
How To Use Bank Transfers For Online Betting
Most of us today are pretty familiar with online banking. If you manage a bank account on the net and have an online betting account, it’s easy to use bank transfer for deposits. The exact details of depositing will differ a little according to your bank and the betting site you use. The principal steps, however, remain broadly similar.
What You Need to do on the Betting Site
The first step to making a betting deposit using bank transfer is to head to your chosen sportsbook. Once there, login to your account and head to the ‘Deposit’ area of that account. This is usually pretty straightforward to find. Often, there’ll be a link to click or tap toward the top of your screen. Otherwise, it will be one of the first options you find on your account’s main menu.
Once you’ve found the ‘Deposit’ area of your account, you’ll see a list of possible payment options. You’ll need to select the ‘Bank Transfer’ option, which some sites may call ‘Bank Wire’. Selecting this option will take you to a new page. That page will contain all the info you need to make a deposit via bank transfer.
That information will include the account name, account number, and sort code of the betting site’s bank account. Make a note of these details as you will need them when you head to your online bank. The page should also give you a reference number or ID unique to your betting account. This ensures that it is your account that’s funded when you transfer money to the bookmaker. The reference number or ID will often be your betting username or account ID. With all this information, you can now head to your online bank.
What you Need to do Through Your Online Bank
The rest of the deposit process gets handled by your bank. You need to head to your online bank and log in to the account you wish to use for your betting deposit. Then, head to the section devoted to making one-time payments and transfers.
Your bank might ask you if you want to make a payment to a new or existing payee. If you’ve never deposited to a particular betting site before, you’ll need to choose the new payee option. You’ll then get taken to a page asking you to provide details of who you wish to pay.
That page is where you input the account name, account number, sort code, and reference ID that you got from your chosen betting site. You’ll also need to enter how much you wish to deposit as part of this initial transfer.
All that’s left now is to fulfil the same authorisation process as you would for any payment from your bank. When you ask your bank to transfer funds, you’ll often get asked to do one a few things to authorise the transaction.
Some banks need you to generate a code using a card reader and to enter it, to confirm the transfer. More popular today, though, is two-step verification via your mobile. When you attempt a transaction, your bank sends a text to a mobile number registered to the bank account. You then enter the code from that text through your online bank to verify the transaction.
Once you’ve actioned and verified the bank transfer, it’s job done. You simply have to wait for your funds to appear in your betting account. How long that takes will depend on your chosen betting site, as explained in the table further up this page.
Why Use Bank Transfers?
Deposits made via bank transfer are arguably the most secure around. The payments themselves get handled entirely by your online bank. Banks leverage the most sophisticated encryption and other cybersecurity measures in existence. All to keep your money safe.
If you read our description above, you’ll have realised that depositing by bank transfer is really simple. It’s like making any other payment using your online bank, and only takes a couple of minutes of your time.
Head to pretty much any betting site worth its salt, and you’ll find bank transfer as a payment alternative. It’s one of the most widely available deposit options, worldwide.
It’s free to deposit – and withdraw – via bank transfer pretty much across the board. Only a tiny minority of betting sites attach fees to bank transfers. If you find a site that does, it’s probably worth deciding to bet with someone else.
If you deposit via some payment methods, bookies exclude you from bonuses and offers. That’s never the case if you fund your betting account via bank transfer. Sites don’t need to protect themselves from fraud, as they do when punters use some e-wallets.