Wire Transfers Review

Wire transfers are among the oldest methods of sending funds from one bank account to another, and as such, they are considered the safest and most reliable by many online poker customers, especially those residing in Europe, where wire transfers are still wildly popular.

A wire transfer is basically about using an electronic medium to transmit data about a sum in one account that needs to be transferred to another. There are different ways to wire money, as even the use of one’s debit card can be considered a wire transfer. A proper bank transfer will have the player who intends to make a payment go to his/her bank and order the transfer personally, giving his bank the details of the recipient’s bank and account number. The most important drawback when it comes to wiring money consists in the fact that it usually takes around 3-5 days for the funds to reach their destinations, which is much more than most gamblers are willing to wait in this day and age. The possibility of ending up with a scam on one’s hands is indeed quite real when it comes to wiring money. Other than that there are no serious disadvantages to the payment method, but most players tend to shun it nonetheless in favor of swifter and more secure options. Wire transfers can be made in just about any currency and despite the potential safety issues, when the destination of the funds is a trusted one, the security of the operation is more than satisfactory.

Although wire transfers have been used for scams, and there will probably always be scammers aiming to take advantage of them, there are various regulatory agencies pretty much all over the world that keep track of wire transfers, so if a scammer does indeed abuse the method, chances are his joy will be short lived at the end of the successful transaction.

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