Payment method: bank transfer

Bank transfer, that is, the transfer of money between two bank accounts, is the most basic of the means of payment, which does not mean that it is the simplest to perform. Most online casinos accept this form of payment, but there are several requirements to be met, in terms of maximum limits, provision of personal data, etc. Some casinos only accept bank transfer as a form of withdrawal (of game prizes), and not payment.

How does bank transfer work on a casino platform?

In terms of concept, bank transfer is quite simple. The online casino must provide its IBAN (acronym for “International Bank Account Number“) or the BIC (acronym for”Bank identification code"). Next, the user must indicate to their bank (either over the counter, at an ATM or at “homebanking”) that they want to transfer a certain amount to that IBAN or BIC.
Remember that the casino will receive an amount coming from a bank account in your name, but the assignment of that amount to your casino player account may not be automatic. After making the transfer, you should be required to contact the casino and provide proof of transfer to facilitate the completion of this process.

What is the difference between IBAN and NIB?

The IBAN, whose use is now mandatory in transfers instead of the NIB (Bank identification number), is no more than the NIB itself preceded by the particle “PT50”, which identifies New Zealand (this in case the account is open in a New Zealand bank). In practice, the IBAN is "PT50 + NIB".
The IBAN will only not start at PT50 if the casino's bank account is open with a foreign bank.

Facts to take into account when choosing bank transfer as a means of payment

In addition to usually requiring a later validation, the bank transfer is not usually instantaneous. It may take a few business days for it to complete, depending on the banks involved and also on how the casino will associate the transfer with the player's identity. This process becomes simpler after the first transfer is made, since then the casino can already link the player's account with the bank account. In any case, the provision of some personal data is almost always the rule.
If you wish to make an instant bank transfer, additional fees may apply.
In any case, the procedure is relatively simple and accepted by most New Zealand online casinos.