A wire transfer is a type of funds transfer. It’s one of the oldest forms of sending and receiving money in modern banking. Originally, wire transfers were sent via telegraph, which explains the titular “wire.” These days, the process is entirely digital.
You may be wondering—if wire transfers are now digital, what makes them different from an Electronic Funds Transfer (EFT)? Well, the devil is in the details. A wire transfer is more flexible than an EFT.
You can send bank-to-bank wires, domestic wires, and international wires. You can also send wires directly from your bank or using a dedicated wire service (which may be less expensive than banks). However, wires in general are usually more expensive than other funds transfers.
They may also take several business days to process. In contrast, EFTs are often instant or near-instant and always process faster. EFTs are also considerably cheaper.
That said, they’re also far more limited in scope. International wires are really simple to do, but EFTs are completely unable to target foreign banks. This flexibility around international money movement allows wire transfers to remain a competitive casino payment method.
Using a wire transfer is one of the simplest ways to deposit or withdraw funds at Canadian online casinos. All you need is access to your bank or wire transfer service and the recipient casino’s wire information. Here’s how it works.
Making a deposit in a Canadian online casino using a wire transfer is remarkably easy. Follow these steps:
Initiating a withdrawal from Canadian online casinos through a wire transfer is quite simple. Follow these instructions:
Though wire transfers are among the safest payment methods out there, they’re not exactly famous for their speed. Your average wire transfer can take between 24 hours and five business days. Wire transfers must be approved by your bank and the wire transfer casinos’ banks.
That extended processing time wasn’t always such an inconvenience. However, these days, with most operators putting a premium on speed, wire transfer casinos are becoming increasingly rare. Instead, most casinos big and small offer electronic funds transfers (EFTs) via Interac.
Still, the best wire transfer casinos still offer wire payment processing, as well as bank transfers. A bank transfer isn’t quite a wire transfer, but any bank capable of processing wires can handle a transfer. They’re instant and usually free from any fees.
Below, we’ve compiled a brief list of the best wire transfer casinos in Canada like Kahuna, Betway, 22bet and LeoVegas. Some of these casinos only offer bank transfers though, so keep that in mind.
The Betway Group is one of the foremost gambling companies in the world, operating in regulated markets across dozens of countries. In Canada, Betway offers online customers a broad range of online gambling services in a pristine, modern website.
Betway provides you with a full-fledged online casino, including slots, table games, and live dealer games. In addition, you’ll also find a sportsbook, covering both real-world sports and esports. There are also countless promotions available.
New players get attractive welcome offers, while bonuses and loyalty rewards keep regular players coming back for more. Betway accepts a broad range of payment options and it’s one of the best wire transfer casinos in Canada.
Not all the best wire transfer casinos are old-school bookmakers. 22bet is a recent addition to the international online gambling scene. In a short time, it’s managed to expand throughout the world, becoming one of the most popular casinos in Canada.
The operator is best known as a sportsbook, but it offers a generous selection of online casino entertainment. You can choose between hundreds of video slot machines or realistic online casino table & card games. There’s something for everyone at 22bet.
While the interface isn’t as polished as those of other operators, it’s extremely intuitive and very mobile-friendly. 22bet has a vast list of accepted payment methods, including wire transfer and bank transfer.
LeoVegas is a Swedish gambling company and a titan of the online betting industry. As one of the oldest players in the game, LeoVegas has massive brand recognition, operating in dozens of jurisdictions. In Canada, it’s one of the best wire transfer casinos in the market.
LeoVegas offers a great number of online slots, table & card games for customers to explore. The website features a seamless, intuitive design, and excellent graphics. There are many enticing promotions and loyalty rewards to keep you interested as well.
On the payment side of things, LeoVegas runs a tidy ship. Dozens of payment options with detailed instructions are readily available for your convenience. You can easily initiate and complete a wire transfer or bank transfer.
There are a few reasons why you might want to use wire transfers over other casino payment methods. As mentioned before, a wire transfer is considerably safer than many other forms of payment processing. Requiring confirmation from both banks keeps things secure.
Another reason you might prefer wire transfers is familiarity. Wire transfers have been around for decades, and many customers know their way around them better than electronic funds transfers. Additionally, offline wire transfers can be easier to request than offline bank transfers.
On the negative side of things, a wire transfer is considerably slower than most modern forms of payment processing. From card payments and e-wallets to online banking and cryptocurrencies, the world has become increasingly demanding in terms of payment speed.
That leads us to the other major disadvantage of a wire transfer: the lack of availability. There aren’t many wire transfer casinos left in the market. While many still provide bank transfers, which are instantaneous, the amount of sites accepting wire transfers get smaller every day.
One of the best things about gambling online is the abundance of promotions and bonuses. You don’t get that kind of treatment at your average brick-and-mortar casino. Wire transfer casinos are no exception to that rule.
When you make a deposit at one of the best wire transfer casinos, you may qualify for a special deposit offer. These offers typically match your deposit amount in bonus funds by a certain percentage (most commonly, 100%).
It’s a quick and easy way to double your cash balance, so you can gamble to your heart’s content. Keep in mind that deposit-matching bonuses have a certain cap, or limit, beyond which the offer won’t match your deposits. In addition, there are wagering requirements to consider.
Wagering requirements must be cleared before withdrawing bonus funds or resulting winnings. To clear the requirements, you need to wager your deposit and bonus funds several times over (usually between 20x to 50x).
SuperLenny is a trusted source for information regarding Canadian online gambling sites. With objective reviews that consider the safety, transaction speed and reliability, we rate wire transfer casinos with total objectivity.