Banks are rather old financial institutions allowing people to manage their funds easily and, what's more important, safely. So it's no weird they are so trusted. In general, banks are providing their clients with the best services and total security during financial transactions due to high competition and responsibility to society.
One of the most popular bank transfers is Wire transfer because of its safety. This payment option is highly popular among large corporations as well as ordinary people.
Wire transfer is the best option when security is prior to speed. Funds transferred via this option are never lost and cannot possibly be stolen.
The reason of such perfect security is that banks are checking both the sender and the receiver, and neither of them can stay anonymous. Both parts have to be reliable to be able to use wire transfer. That limits the possibility of fraud to zero.
How it works?
In order to transfer money with the help of wire transfer method, you have to have an opened account in the bank and provide it with the account details of the recipient bank. Bank will also require information about the purposes of such transaction for security issues. Then, you will need to fill in special form and indicate the amount of money transferring. If both sender and recipient account details are correct, the funds will be transferred with 100% security.
- Wire transfer eliminates the necessity of opening a new intermediate account as it is a direct transfer between two financial institutions;
- Wire transfer is an extremely easy and safe way of making financial transactions due to the latest security systems and complete control when operating;
- Wire transfer option is available to US online players;
- When using Wire transfer as online casino payment option, many online casinos are offering extra bonuses;
- Banks set limits on the sum of money can be sent; the limits can vary, it depends on the bank's policy;
- Wire transfer can be even quite expensive due to the charging fees set by banks; the fees are also different in different banks;
- Wire transfer is the safest and the most reliable money transferring option in the world;
- Wire transfer allows its users to send money in the local currencies, converting them in the process according to the destination;
- It is possible to make money transfers via Wire transfer in a great variety of languages.
Wire transfer advantages
- the highest security when transferring;
- tested method of any kind of financial operations;
- support of variety of currencies;
- available as a payment option in almost every online casino.
Wire transfer disadvantages
- the most time-consuming option among many other alternative methods (it can take up to 5 working days);
- slight possibility of fraud when transacting;
- rather high charging fees (varying from bank to bank).