Esports Bookmakers Accepting Transfer Money

Money transfer from one bank account to the next can be traced back to 1,800 BC. The idea started in Babylon when money lenders would give loans and charge interest. At the same time, Roman and Greek banks were accepting deposits as savings.

Throughout history, banking technology has taken several twists and turns, but the ability to transfer money over the internet has been the most significant change. Online banking started as soon as web-based connectivity became a global thing in the mid-90s.

Is Transfer Money popular?

Transfer Money is probably the oldest method of transacting. It is also the most popular payment system in all countries worldwide. It comes as no surprise that it is the most widely-used payment option for esports betting. Almost all commercial banks today have an online banking platform where users sign up to monitor and manage their finances remotely.

Some banks transfer money electronically without a charge as long as the recipient has an account within the same institution. Others will do it at a fee, but the transfer time is dependent on the amount in question.

Any gambler who has used an e-commerce site for a business understands how easy it can be to transfer money from a website to an individual bank account. Withdrawing winnings from a bookmaker is the reverse of depositing.

1. Open the eSports betting site and log in with a password and email or username
2. Navigate to the banking/cashier/payments page
3. Confirm winnings and the amount to withdraw
4. Choose a payment method for withdrawal- internet banking, bank transfer, or wire transfer
5. Provide a unique online banking ID
6. Verify the betting account and the banking ID (must be in sync)
7. Wait for approval
8. The bookmaker transfers the money to the player’s bank account within 2-5 working days

Transfer Money withdrawals are not instant. First, the eSports betting provider will take some time to verify the player’s identity. This is a crucial security measure for online gambling that helps to avoid any online fraud. It has become increasingly common for online gamblers to be defrauded of their hard-earned winnings. That is why all legitimate and safe sites take time to double-check whether the person requesting a withdrawal actually participated in placing eSports bets.

To acquire a Transfer Money account, one needs a national ID, meaning they must be of legal age. It is also possible to open an international account that can accommodate different currencies. But such accounts are often limited in terms of how much to transact daily. Plus, it takes longer to perform a wire transfer to a different country.

Some countries allow minors to have bank accounts, but they must be supervised by adult guardians or parents. Opening a new bank account doesn’t require another bank account because every institution operates independently.

How to set up an account

It takes a simple but formal procedure to open a bank Transfer Money account.

• Choosing a banking institution and type of account: Each bank has different account options, i.e., checking account, fixed deposit account, savings account, etc. A checking account works best for online Transfer Money.
• Filling up personal details: The account opening form is like a proposal. Here, the applicant provides their full name, email, phone number, address, and tax compliance details.
• Proof of identity: Banking institutions will ask for a passport-sized photo, ID card, fingerprint, and signature.
• Creating an online banking profile: Once the application has been accepted, the customer can open an online Transfer Money account. The process can be done on the bank’s website or corresponding mobile app.