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Bookmakers Which Take Bank Wire Deposits

Bank WireIf its bank wire betting sites you are looking for then this section of Cheeky Punter should be able to assist you. I’ve researched the best bookmakers which accept bank wires and the list of options available to you are displayed in the table below this text.

All of the sites I recommend to visitors have been scored with at least an A grade in my reviews section and have quality free bet offers available as well.

List of Bank Wire Friendly Bookmakers

*Info accurate as of 16-01-2019 for the UK market.

Compare Bank Transfer Betting Sites

Bookmaker Min Deposits Withdrawals Fees
Betvictor £5 2-5 days 2-5 days 0%
Coral £5 n/a 2-5 days 0%
William Hill £10 3-5 days 3-5 days 0%
Paddy Power £5 1-5 days 1-5 days 0%
888Sport £20 2-5 days 5-10 days 0%
Betfred £5 2-5 days 2-5 days 0%
Ladbrokes £10 1-5 days 1-5 days £0-£15
Unibet £10 2-5 days 3-5 days 0%
Betfair £10 2-5 days 3 days 0%
Boylesports £20 2-5 days 3-5 days 0%

Bank wire isn’t a term used often in the UK, but it generally describes a method of payment where money is transferred directly from one account to another. Ten to fifteen years ago, bank wire transactions was one of the fastest ways to transfer money before debit cards came onto the scene and when online banking first appeared, which allowed customers to set up bank transfers themselves, rather than calling their bank.

Bank wires, or bank transfers, are not so commonly used these days, as it’s much easier to transfer money using a debit card, which effectively does the same job. The process also takes some time to complete, up to five days in some circumstances, and this makes it a bit too slow for topping up an account. In most cases you’ll want to add money to your account immediately and start using it, but with bank wire, you’ll have to wait until the money is transferred before you can use it. There is a new system called “fast bank transfers” that promises the transfer of funds within two hours, but the standard service is still quite slow.

How to Use Bank Wire

Bank TransferIn order to use bank wire and transfer money into your account you will either need access to your bank account online, or you’ll need to call your bank to set it up. This is because you cannot set up a bank transfer solely from a bookies website. Fortunately through online banking, setting up a transfer is a relatively simple matter.

There are a few details you’ll need before heading to your bank’s website however, and that’s the account name, account number and sort code of the account your bookmaker uses. You should also find out your gambling account number, as it’s likely you’ll need this as a reference number so that your bookmaker knows which account to credit the money too when it arrives from your bank.

Log onto your online banking system, and look for the section where you can set up a new transfer or payment. All online banking systems work differently from one another, so you’ll need to find the correct section before continuing. Find the section for entering a new payment, and follow the instructions and enter the details for your bookmaker. You may also need to follow extra security steps to activate the payment. Many banks now require you to enter a code which they either send you by text message or by calling your home phone number. This is to prevent unauthorised people from breaking into your online banking account and setting up their own transfers.

Once all this has been entered, you just need to tell your bank how much you want to transfer. You will usually be given a choice also when you want the payment to go ahead. Choose the nearest date possible, and you will be informed how long the transfer is likely to take and when the money should appear at its destination. As soon as your bookmaker receives the money it will be added to your account. It’s not uncommon for transfers to take under 24 hours even though longer time frames are suggested.

Bank Wire Security Online

SSL SecurityOne of the best things about a bank wire transfer is that they are extremely secure. This is mainly because they are initiated and controlled by your bank, which will have some of the best security systems available. The amount of security that is employed is solely down to the specific bank you use, and their online banking systems, but this is usually a great deal more than a bookmaker would use on their site.

Using online banking, it’s very difficult for someone to steal money directly from your bank account. The only way is to try and trick the customer into giving up their username and password using something called a “phishing” attack on their computer. (A phishing attack is where a different (but convincing) website is displayed instead of your normal online bank website, and this fools the user into entering their online banking details).

Assuming you don’t fall for this kind of scam, the only person who has access to your bank account is you, so the issue of setting up payments to other people or companies such as your bookmaker is very secure indeed.

No part of the transaction takes place on the actually bookies side of things. You only need to know their account number, sort code, and your reference number, and after that everything happens on your online banking website. All online banking services are fully encrypted and use SSL (secure socket layer) technology to ensure privacy, so you’ll find that you are safe from any eavesdropping.

Bank Wire Transfer History

Bank transfers have been around for a long time, before online banking was even a reality. It was always possible to call your bank and ask them to set up a transfer to another company. This usually involved a lengthy conversation with your bank, and sometimes required you to physically visit the bank to set up a transfer mandate.

With the invention of the Internet and online banking however, setting up a bank wire transfer has become a great deal easier. You can now do this yourself from within an online banking website.

Is should be noted however that debit cards have taken over the role of bank transfers to a greater extent, since using this method money is transferred immediately, which is a lot more convenient when transferring money to an account. The result is also the same, where funds are transferred directly from your bank account.

Fees Associated with Bank Wire Deposits

Bank wire transfers are a slow but sure method of transferring money to your account, there are very rarely any fees involved, although some sites do charge a small fee or percentage to withdraw funds to a bank account.

the Cheeky Punter
The Cheeky Punter is an ex professional online sports bettor and trader with over 15 years of experience in the industry. He has worked for a number of top bookmakers including Ladbrokes, William Hill and Coral. He's also written for a number of leading news outlets including the Guardian, i (newspaper) and Soccer Lens. More about him here.