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Home > Bingo 101 > Deposit & Withdraw at Bingo Sites by Bank Transfer
Deposit & Withdraw at Bingo Sites by Bank Transfer
| Written by Carol Dian

Online bingo is arguably the most popular form of online gaming in the world!With every single bingo site that you can reel off the top of your head offering bigger and more impressive bonuses, bingo fans have been going mad depositing and receiving their fantastic welcome bonuses!The lowest welcome bonus you’re likely to find is 100% - which immediately doubles whatever you have deposited and gives you double the cash to splash!Because of this, there has been a huge surge in depositing players, and more depositing player’s means more ways to deposit and more secure methods being introduced.

Is Bank Transfer Right for Me?
Basically, a money transfer takes the money in your account and passes it to a third party (of your choosing) and then you can use this third party to deposit funds into your bingo account or receive your winnings.When you choose this method, your money is then exchanged between your own personal bank and the bank of your bingo provider.Because of the way it works, your details have to be passed around.This really isn’t ideal for everyone.Whilst some people don’t mind, others are very nervous about providing their confidential information and because of this, it may not be right for you.However, this does not mean it is NOT safe – it just means it is a slightly riskier option than PayPal or pre-paid Ukash vouchers.

The Pros of a Money Transfer through your bank account
- It is seen as a simple method of payment due to the fact that there is no need to set up an account of any kind – all you need is your bank account and you’re raring to go.
- It is easy to keep track of the money coming in and leaving your account, which is handy because a difference in your spending would be noticed if the worst does happen and you fall victim to fraud.
- They are accepted pretty much everywhere, but naturally you should always check that your method of payment is accepted at the bingo site in question before you try to make a deposit.
The Cons of a bank Transfer
- Of course the most obvious con is the one that comes with inputting your details to then be passed to a third party.We are all more than aware of the dangers of inputting your details into the internet and you would be quite right to be cautious.
- Your bank may charge you – and this charge is actually taken from the money that you choose to move into your bingo provider’s bank, leaving you with less money to deposit.This could also cause complications regarding your deposit bonus.For example, you give the third party £20 to place into your bingo’s bank, but your bank then takes a chunk of that to pay the charge (which is simply a charge for the pleasure of moving your money!).If you need to deposit £20 to receive your bingo bonus, this subsequent charge could mean you miss out on that.
- Your bingo site may even charge you – when you want your winnings to be paid into your account, it could very well be your bingo provider issuing the charge and they could take a chunk of your winnings to pay it.
Of course it is not fair to tar every bank and bingo site with the same brush – this may only be relevant to some bingo sites and not to others.This is why we stress the importance of reading your Terms & Conditions, especially when you sign up with a bingo site, as no 2 T&C’s will be exactly the same.

When you choose money bank transfer, your money is then exchanged between your own personal bank and the bank of your bingo provider.

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Deposit & Withdraw at Bingo Sites by Bank Transfer

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