Instant bank transfer casino nz

What Are Instant Bank Transfers?

Instant bank transfers (IBTs) are a payment method that uses the instant money transfer service provided by your bank. This payment method cuts out third parties, with all transactions occurring directly between you and your bank. In addition to speeding them up, this makes the transfers far more secure, as banks have state-of-the-art encryption technology which minimizes the risk of fraud, identity theft, or other criminal activities occurring.

For this system to work correctly, the online casino must be registered with a licensed financial institution in New Zealand. It also needs to have an account with that institution to accept funds from customers who wish to make deposits or withdrawals via IBTs. The best part is that these accounts usually require little or no paperwork on behalf of the players.

Deposit and Withdrawal Limits

While instant bank transfers typically don’t have strict limits on the minimum and maximum amounts you can deposit at any one time, casinos that offer this payment option often do. For example, $10 deposits are a common requirement for taking advantage of the casino’s welcome offer, but they are by no means the only deposit requirement you’ll find.

The minimum deposit limit is the least amount of money you can put into your account at an online casino, while the maximum withdrawal limit is the most you can take out of it. These limits will differ between casinos, and some may even offer higher limits as a player climbs the ranks of their VIP ladder. It’s often used as a major incentive for sticking around and becoming a regular instead of changing casinos often to make use of their welcome offers.

Cashing Out

Unfortunately, while instant bank deposits are slowly replacing the much slower and less secure traditional bank deposits, the system hasn’t quite picked up pace when it comes to cashing out. As such, even at instant bank transfer casinos, you’ll want to use another method such as digital wallets if you want to get your winnings as soon as possible. Luckily, casinos with instant bank transfers often also support popular e-wallet platforms like PayPal and Skrill.