What is a bank transfer?
As a payment method for online casinos, electronic payment services with low fees and quick completion of procedures have been gaining popularity.
However, several services, including Neteller and Skrill, have withdrawn from services for Australia, and there is a risk that electronic payment services will suddenly become unavailable.
On the other hand, bank transfer is very easy because you just use your existing account, and you don't have to worry about service interruptions.
In this article, we will explain the advantages and disadvantages of using bank transfers at online casinos. We also introduce how to open an account with Rakuten Bank, which is recommended for deposits and withdrawals at online casinos.
Bank transfer overview
Bank remittance refers to depositing or withdrawing money directly from an online casino from a bank account in Australia.
Almost all Australian banks accept deposits and withdrawals from online casinos, so you can use your existing bank account to complete the procedure.
When depositing or withdrawing money at an online casino, enter the bank name, branch, account name, account number, account type, account name, deposit/withdrawal amount.
Then, the amount will be reflected in your account in a few hours to 3 business days.
Online casinos that accept bank deposits and withdrawals are listed below.
・Queen Casino
・188BET
・ Vera & John Casino (withdrawals only)
・Inter Casino (withdrawals only)
・Casino Secret (withdrawals only)
All banks can be used at these online casinos, but if you want to make the process easier, we recommend using an online bank such as the one below.
·Rakuten Bank
・Australia Net Bank
・SBI Sumishin Bank
bank transfer fees
In the case of bank transfer, basically no commission is charged on the online casino side.
However, in the case of online casinos, it is treated as an overseas remittance, so fees may be charged by the intermediary bank or the receiving bank. In this case, a fee of 2,000 yen to 5,000 yen may be deducted for one procedure.
Please contact your bank for details on fees.
Benefits of bank transfer withdrawals
Here are some of the benefits of using bank wire transfers.
○ less time and effort
The advantage of withdrawing money from online casinos using bank wire transfers is that there is less hassle. In the case of bank transfer, you can deposit money into your account with just one procedure, and you can use it as cash as soon as you withdraw it from an ATM.
However, when using an electronic payment service or virtual currency such as Bitcoin, you must first transfer funds from the online casino to the wallet of the electronic payment service or virtual currency exchange. After that, you need to transfer more funds to your bank account.
Therefore, in order to be able to use it as cash immediately, at least two procedures are required, which takes time.
If you want to use it as cash immediately, we recommend bank remittance, which saves time and effort.
○ Easy fund management
If you use an internet bank among banks, you can easily manage funds from your smartphone. Since you can check how much you have deposited and how much you have withdrawn in a list, it is easy to grasp your monthly balance.
In addition, since you can check your transaction history along with your bank balance, you can prevent the situation where you have run out of funds before you know it.
○ High safety
Bank transfer is a service provided by Australian companies. Therefore, it is highly secure and the risk of unauthorized use is extremely low. In the unlikely event that there is a problem, you can consult in Australian at the counter or over the phone, so it is also attractive that you have a high degree of security as a user.
In addition, unlike electronic payment services, banks will not suddenly stop providing services, so you can use it with peace of mind.
Disadvantages of bank transfer
Here are the disadvantages of bank transfers.
▲ Available online casinos are limited
Not many online casinos accept bank transfers. There are many online casinos that do not support bank transfers, such as Lucky Niki Casino, Kajitabi, and Live Casino House, which are popular in Australia.
Therefore, if you want to deposit and withdraw by bank transfer, it is better to check if the online casino supports bank transfers before registering.
▲Remittance takes time
Deposits and withdrawals at online casinos are treated as overseas remittances. Therefore, in some cases, it may take a few days for the application to be reflected in your account.
Also, in the case of banks, procedures cannot be carried out on Saturdays and Sundays. Therefore, depending on the timing of the application, the process may take about a week.
Banks are not open 24 hours a day, so the transfer process takes longer.
▲ You may receive a phone call
If you transfer a large amount of money from an online casino to your bank account, you may receive a phone call from the bank suspecting the possibility of fraudulent use.
In this case, there is no problem if you tell the bank that you are using it yourself. However, if you do not answer the phone call from your bank and cannot verify your usage details, your bank account may be temporarily restricted for security reasons.
If you want to avoid phone calls from your bank, it is best to transfer small amounts to your account over time rather than moving large sums at once.
▲In many cases, it can only be used for withdrawals
Even if an online casino accepts bank transfers, not all online casinos accept deposits. Vera & John Casino, InterCasino, and Casino Secret only support withdrawals via bank wire transfer, so you will have to use other payment methods to deposit into online casinos.
In other words, in the case of bank transfer, at least two payment methods must be prepared.
We recommend using a credit card as a payment method. Using a credit card is the easiest way, as you don't have to open a new account like you do with electronic payment services.
How to register for bank transfer
Here is how to open a bank account. There are many types of bank accounts such as Sumitomo Mitsui Banking Corporation, Mitsubishi UFJ Bank, and regional banks, but here we will explain in detail Rakuten Bank, an online bank that is convenient for depositing and withdrawing money at online casinos.
Even if you already have a bank account, if you do not have an online bank account, you may want to take this opportunity to open an account.
Step 1. Enter customer information
First, access the official website of Rakuten Bank and click "Easy account opening application".
Then, you will be taken to a page called "Customer Information Input" where you will need to enter the following information. *If you are already a Rakuten member, you can skip entering the information here.
・Name (kanji/furigana)
·sex
·Date of birth
・Confirmation of “American”
・Confirm country of residence
·Profession
Step 2. Enter contact information
Once you have entered your customer information, the next step is to enter your contact information.
Here you will be asked to enter the following information:
·address
·phone number
·email address
Notification emails will be sent to this email address when funds are withdrawn or deposited from your bank account. Therefore, register an email address that you use frequently on a daily basis.
Step 3. Enter cash card selection
After entering all the information, select the type of cash card.
In addition to ordinary simple cash cards, you can choose cash cards with debit functions and cash cards with credit card functions.
If you select credit card function here, you must pass the examination by the card company. If you have a credit card function, it is recommended because you can use it for deposits and withdrawals at online casinos.
Each card has different annual fees and reward points, so choose the card that suits you best.
Step 4. Enter other information
After selecting the type of card, select the "Purpose of use of the account" and "Confirmation method of personal identification information".
There are more than 10 types of “purposes for using the account”, such as paying living expenses, using a mortgage, saving/asset management, and using a debit card. If you mainly use deposits and withdrawals to online casinos, you should choose to use overseas remittance.
Confirmation documents for personal identification items include driver's license, personal number card (with face photo), basic resident register card (with face photo), card-type health insurance card / additional documents, residence card, special permanent resident certificate, You can use your passport, etc.
There are three methods for confirming identity verification documents: presenting the documents to the delivery person when they arrive, sending them using a smartphone app, and sending them by mail.
In the case of a smartphone app, it is recommended because all you have to do is download the app, take a photo, and upload it.
Step 5. receiving the card
Once the identity verification is completed, the cash card and documents will be delivered to the registered address within 1 week to 10 days.
This document contains an initial user ID and a temporary login password, so let's use these to log in to the Rakuten Bank site. Then, as the initial settings, set the user ID, login password, PIN, one-time authentication, and password that will be used from the next time onwards.
Once these procedures are completed, you will be able to use Rakuten Bank to make deposits and withdrawals at online casinos.