Wire Transfer Poker Sites
A wire transfer is an old fashioned way to send money from one bank account to another. It has an important use in today’s U.S. online poker market. That is because it is nearly impossible to block a bank wire transfer. This method is also the best way for deposit amounts over $1,000.
Wire transfers are available to players outside the U.S. This is a good option to consider after a large tournament score.
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How to Make a Wire Transfer Poker Deposit
The first step is sending a bank wire is to get the online poker room bank account information. This will include a SWIFT number, the bank account number, and the location of the poker site’s bank.
The next step is to contact your bank. Depending on its size, a wire can be sent in multiple ways. Some banks offer the ability to send a bank wire on its website. Banks may allow a customer to call them to send the wire. The policy may require a customer to visit a bank location to initiate a wire transfer.
Your bank will require the receiver’s information provided by the poker room. Your information will already be in their system. It typically takes one business day to process a bank wire. It may take two business days if the wire is initiated in the afternoon.
There is a fee to send a bank wire. It is usually about $25. The poker site may also charge a fee to receive the wire transfer. Asking for a deposit bonus to offset some of this fee is standard. Some sites will cover the entire fee if the deposit is large enough. If the fee is covered, it will be deposited into your poker account when the wire transfer arrives.
How to Withdraw a Poker Wire Transfer
Some poker sites offer wire transfer for withdrawals. It may not be shown in the lobby as this option is sometimes reserved for large winners. This is due to the limited access that poker sites have to the U.S. banking system. You may need to contact support to see if it is available privately. Ignition and BetOnline are two poker sites that have this option in the standard cashier.
You will need to provide the online poker room with your bank routing number and account number. The routing number is on the lower left section of the check associated with the account. If the account does not have checks, contact the bank to find out its routing number. The account number is in the center of the check. The poker site will also need your address, as well as the bank’s location.
Fees Associated with Wire Transfers
The fees can be steep for wire transfers. That is because of the process that it can take to go from a bank in another country to the United States. The poker site will likely charge $25-$50 for the transfer. There may also be a charge from the intermediary bank that handles moving the money from one country to another. The receiving bank is likely to charge about $25 to close the transaction. This can mean that the total fees of a wire transfer can run as high as $150. It is important to reserve wire transfers for large withdrawals that cannot be handled in less expensive transactions due to its size.