Bank wires have been a depositing option for many years in the digital gambling industry. The method of deposit is often referred to as the older method. Bank wire transfers, also referred to as, wire transfers or bank drafts, were first established over two centuries ago. This type of deposit option is perfect for bettors with a big appetite for risk. This is because of their almost limitless betting amounts. Wire transfers are liked by many Canadian bettors because it offers easy usability. Bettors in Canada can trust this method for banking deposits because you can depend on it. The success rate of this kind of deposit is quite high. In other words, depositors will hardly get denied.
Among the many attractive benefits of this kind of transfer is its simplicity. Not every one that bets use credit cards. Therefore this kind of transfer gives bettors the option of simply using cash. More often than not betting with credit has some problems. Unlike with other deposit methods, banks don’t have much power over Wire Transfers
Sportsbooks That Support Bank Wire Transfers
Considering that the bank wire transfer system has been used by many financial institutions for the past decades it only makes sense that Canadian sportsbook trust this method. Some sportsbooks take up to 5 working days to process a deposit and others take up to one day. These are the sportsbooks you can trust with your bank wire deposits in Canada.
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What You Will Find in this Guide:
Bank wire deposits do not offer instant deposits for gamblers. This is not ideal but there are plenty of benefits attached to using this kind of transfer.
- This type of deposit method guarantees your money’s safety. This makes security a major benefit.
- Another benefit is linked to wire transfer is the trustworthiness. A Canadian bettor can trust this method to do what it’s meant to do.
Bank Wire deposits have some pros and cons attached to it. Below we will look at some of the pros of using this payment method.
- Bettors can stretch their deposits because they have high limits.
- Bank wires are second to credit card transfers when it comes to speed of deposit. They process payments in a speedy manner.
- Wire transfers are convenient as opposed to most banking methods.
- Bank wires are available to anyone with a bank account. Funds can be transferred from anywhere in the world. This type of transfer does not box people.
With every positive, there is an unwarranted negative. These cons are however not entirely off-putting. As previously mentioned, the only identifiable negative in this instance is that the deposits are not as instant as they should be. Though it’s just one negative it is still a major one considering the world of digital gambling is fast-paced.
Bank wires are quite cost-effective if we compare them to other methods of deposit, particularly relating to credit card payments. It is the most preferred banking method based on experience to this day. Wire transfers have very low to no fees attached to their transactions. There is no reason why Canadian bettors should shy away from using this deposit method.