Written by:
Alex Windsor
Fact checked by:
Damjan Jugovic Spajic
Updated:
February 27, 2024

Bank Transfer Betting Sites

Bank Transfer Betting Sites

There was a time when bank transfers were the only reliable form of banking with online bookies. Of course times have now changed, and in the modern day most online sites offer dozens of reliable banking methods. Despite this though, many players still prefer bank transfers. And it’s no wonder why. Most users already have a bank account, so there’s no need to sign up for any new service — and most users already know exactly how bank transfers work. Plus, when it comes to secure banking, nothing tops a bank transfer.

Additionally, since they’re so reliable, nearly all legitimate UK betting sites accept bank transfers. So if you’re just starting off your sports betting journey, bank transfers are a great way to both deposit and withdraw your funds. However, there still are some hurdles. But don’t sweat it, because in this guide, we’ll be giving you a comprehensive look at how bank transfers work when betting online and what the best bank transfer betting sites are.

How Bank Account Transfer Online Betting Works in the UK

When online sports betting first was getting started in the UK, wire transfers through your bank account were about the only reliable method you could use. For this reason, bank transfers have remained ever-popular. But while wire transfers are still offered and used by many betting sites, the most popular form of bank transfer is electronic banking. This is where you simply deposit and withdraw money using your mobile banking app.

Then when you want to withdraw, the betting site will already have your details, and all you need to decide is how much you wish to withdraw. It really can’t get much simpler.

Online Betting Sites That Accept Bank Transfer

bet365 UK

4.6/5
  • £5 Minimum Deposit
  • Advanced In-Play betting
  • Live streaming
  • Betting & Casino
  • Can restrict big bettors
  • Longer cash-out procedure
Bet £10, Get £30 In Free Bets
Play Now

Because of the long standing relationship between online sports betting and bank transfers, as well as the massive popularity in the UK with this banking method, it’s no wonder that nearly all legitimate UK betting sites will offer a bank transfer option. This is obviously a good thing. However, the only issue is that with so many sites to choose from, where should you sign up?

It’s a difficult question for newcomers. Though that’s where we come in — many members of our expert team have been betting online since wire transfers were the only reliable form of banking. Through this time, we’ve learnt what makes a great sports betting site. Below, you can find our picks for the five best UK bank transfer betting sites.

Best Bank Transfer Betting Sites:

🥇BetMGM

When it comes to sports betting in the UK, there are few names as big as BetMGM. They’ve got an all-around gold-class site — with great odds, many markets on offer, and good bonuses. And of course, they accept bank transfers for both depositing funds and withdrawing money. A minimum withdrawal of £10 is stated on their site. However, if you’re after a smaller withdrawal, you can do so by contacting customer support.

One other important thing to keep in mind is that withdrawal via DBT (Direct Bank Transfer) can only be made to a non-UK bank account in your name.

🥈Sportingbet

With minimum deposits via bank transfer starting at £5, Sportingbet is one of the best online sportsbooks for users on a budget. Minimum withdrawals via bank transfer are £10. Though you can go for a smaller withdrawal by contacting the Sportingbet customer support team.

I’m a big fan of Sportingbet, as I find that when it comes to bank transfer withdrawals, they’re one of the fastest sites at processing them. Plus, deposits and withdrawals via bank transfer are fee-free.

🥉bet365

bet365 UK

4.6/5
  • £5 Minimum Deposit
  • Advanced In-Play betting
  • Live streaming
  • Betting & Casino
  • Can restrict big bettors
  • Longer cash-out procedure
Bet £10, Get £30 In Free Bets
Play Now

Since first starting in 2000, bet365 has been one of the most popular UK betting sites. Back then, your best option for depositing funds was through wire transfer. Thankfully though, bet365 now also has electronic banking options that you can take advantage of for as little as £5. Although to claim their welcome bonus of £30 worth of free bets, you’ll need to make an initial deposit of at least £10.

When it comes to withdrawals, whether you go for a traditional wire transfer or an electronic bank transfer, the minimum withdrawal is the same at £5.

🎖️Unibet

When it comes to depositing via bank transfer, Unibet is quite unusual with the limits they set. This is because if you’re depositing with a wire transfer, there are no minimum or maximum limits. This means it’s feasible to get started for as little as £1. However for electronic bank transfers, this does increase to £10.

But that’s just the start of what makes Unibet such a great betting site. And for new users who sign up via our link, Unibet is putting their money where their mouth is with first bet insurance — giving users up to £40 back if their first bet loses, plus an extra £10 for their online casino.

🏅LeoVegas

Depositing and withdrawing funds via bank transfer at LeoVegas is simple. That’s because no matter how you choose to deposit, the minimum deposit is £10. There’s a similar minimum withdrawal that LeoVegas enforced of £10 across the board. But if you are looking for a smaller minimum withdrawal, they are willing to help you so long as you contact their customer support.

While a newer name to the UK sports betting scene, LeoVegas is turning a lot of heads. One reason for this is their new player promotion, which gives users the chance to score up to an extra £100 if they win their first qualifying bet with stakes of at least £10.

Why We Selected These Bank Transfer Bookmakers

Since just about every sportsbook will offer bank transfers, selecting which ones to feature can be a little challenging. Though with that being said, there are a few criteria we use to rank sites. To start with, bank transfers usually come in two forms — manual bank transfers/wire transfers and electronic bank transfers. While I prefer the speed and simplicity of electronic transfers, other users prefer traditional transfers. That’s why for a site to make our list, they have to offer both.

Secondly, minimum deposits and withdrawals are important to us. We know many players are on a budget, so the lower the sportsbooks can make these limits, the better. Additionally though, we also consider the sites themselves. How user-friendly is the interface? Are mobile phones supported? Is the customer support well trained? Are there bonuses available for both new and existing customers? Positive answers to all of these are a big tick in our eyes.

Finally, we’ll also ensure that a site is legal in the UK. For that reason, proper licensing and following all the relevant legal procedures is crucial in making our list of top bank transfer betting sites.

For other similar reviews covering different payment methods, having all of the above may be enough to make our picks. Though for a banking method like transfer that pretty much all legitimate UK sportsbooks offer, we’re able to be picky and only select the best of the best. So we also consider market odds, market availability, and cool features like the ability to live stream sports. Once we’ve gathered all this information for all the sports betting sites in the UK, we compare the data and select the five standout sites.

How to Deposit with a Bank Transfer at Online Sportsbooks

Depositing via bank transfer at a UK betting site is easy. Since most people already have a bank account, there’s no need to sign up for any new service. Although if you don’t use online banking, it can be well worth downloading your bank’s mobile app and getting familiar with it. Once you do, you’re ready to sign up to a sports betting site and make a deposit.

  1. Using our links, navigate to your chosen sportsbook and click the registration button.
  2. Fill in a few pages with your basic information and click through the prompts. Make sure to enter in this information accurately, as you’ll need to provide ID to confirm your identity and that you meet the minimum age requirement to bet in the UK.
  3. Once registration has been finished, you’ll receive a confirmation message to your nominated email. Click the link inside to complete your registration and confirm your online sports betting account.
  4. If you’re not automatically logged in, do so and head to your account page.
  5. From here, you’ll need to navigate to the deposit section. Exactly which button you’ll need to click on will vary based on where you signed up, but it will usually say either ‘Cashier’ or ‘Deposit’.
  6. Once you’ve done that, just click on one of the bank transfer options as the payment method and follow the prompts.
  7. If you deposit via some form of electronic banking, you’ll be automatically taken to the relevant pages to make your payment. On the other hand, if you choose a wire transfer, you’ll need to head into your banking app or to a physical teller to manually deposit your funds into the sportsbooks’ account. Don’t worry though. Once you choose a wire transfer, this information will be provided to you.
  8. If you choose an electronic bank transfer, your funds will be immediately available in your account, and you’ll be ready to make your first bet. But for a wire transfer, it can take a couple of business days.

Since this will be your first deposit, we recommend depositing enough to meet the bonus deposit minimum limit to claim your first deposit welcome bonus. This will sometimes be the same as the minimum deposit. However, not always — so it’s definitely a good idea to read through the terms & conditions of the bonus you want to claim before making your first deposit.

Bank Transfer Minimum and Maximum Deposit Limits

When it comes to depositing limits, bank transfers get you the best of both worlds. Of course the exact specifics will vary from betting site to betting site, but typically electronic bank transfers will allow you to make the smallest minimum deposits offered, while a wire transfer will allow you to make the largest possible transfers. Maximum deposit limits aren’t usually relevant unless you’re depositing £25,000+ per transfer, as most depositing methods including an electronic bank transfer can facilitate a fee-free deposit worth thousands of pounds. However, if you are a high roller, wire transfers will be for you.

For me personally, I like to just top a little at a time. And for this, electronic bank transfers are the best — regularly allowing transfers as small as £10, and with some sites even getting as low as £5.

How to Withdraw From A Bank Transfer Betting Site

If you deposited via a bank transfer, withdrawals via the same method will be easy.

Just head to the cashier section in your betting account, enter how much you want to withdraw, and then select how you want to receive your bank transfer payment. Since you already would’ve deposited via a bank transfer, the betting site will already have your account details — and so withdrawing to your bank account will usually only take a single click of a button.

An interesting feature of UK betting sites is that there’s technically no minimum withdrawal limit. Sites will advertise minimum withdrawal limits — however you can always go for an even smaller withdrawal so long as you contact customer support. Although going this route can sometimes tack on some extra fees.

Withdrawal Processing Times

Withdrawal processing times will vary dramatically based on what type of bank transfer you go for. For an electronic bank transfer, you’ll be looking at 24-72 hours, with 48 hours being the sweet spot for the betting site to process your withdrawal. Once they do process it though, your funds will instantly appear in your bank account. For wire transfers however, you’ve got that same 24-72 hours for the sports betting site to process your withdrawal request — but on top of that, you’ve also got the wire transfer time frame of 24-48 hours. This means for wire transfers, you can be looking at up to five business days for the funds to appear in your account.

Of course the exact times can vary between sites. But as a general rule, if you’re after a speedy withdrawal, you’re better off going for an electronic bank transfer.

Fees and Charges when Betting with Bank Transfer Bookies

When it comes to depositing via bank transfer, there are no fees that you’ll need to pay. Unfortunately though, the same can’t be said about withdrawing via bank transfer. For electronic bank transfers, you’ll almost never need to pay any fees for withdrawals, but for bank wire transfer withdrawals, you will sometimes get stuck with a fee.

These fees will of course vary from site to site — with some sportsbooks not charging any fees. However, many sites will charge you a fee of £5-20 when you make a withdrawal via wire transfer. For this reason, if you are set on making all withdrawals via wire transfer, it can be well worth checking out what each site’s policy is on withdrawals via wire transfer before signing up to them. Additionally, since wire transfers also take a while to process, we typically recommend that you do the vast majority of your withdrawals via electronic bank transfer and only consider a wire transfer when you’re going for a significant withdrawal of £1,000+.

Tips for Managing Your Bankroll at Bank Transfer Bookmakers

Betting with a betting site that will accept bank transfers is good, but it’s only the first step to being successful at betting. Arguably, there’s no more critical skill in sports betting than managing your bankroll. For that reason, our expert team has come up with some tips for new and experienced players alike.

Make Small Deposits

Electronic bank transfers allow you to make small minimum deposits from your online bank account. Take advantage of this by sticking to small deposits. Only deposit how much you plan to bet that week or weekend. Then when you need to top up your online sports betting account for the next week, you can make another small deposit.

Take Advantage of Bonuses

With bonuses, you can turn a small deposit into a big one. The best of these bonuses will be attached to your first deposit or bet — giving you free bets and bonus cash.

However, welcome bonuses aren’t the only promos on offer by UK bookies — and you’ll always be able to find a wide range of bonuses by heading to the promotions tab at a sports betting site. And if they don’t have any you like, you can just as easily sign up to a new site and take advantage of their welcome bonus.

Consider Responsible Gambling Tools

Sports betting should always be fun, and you should never be betting with money that you can’t afford to lose. If you do believe that you’re having a problem with gambling, take advantage of the responsible gambling tools on offer by all legitimate UK sports betting sites. In the UK, all licensed sites have GamStop. GamStop is a self-exclusion program, and by opting into it, it’ll exclude you from all UKGC licensed sportsbooks for a chosen time period.

Use A Unit Betting System

While there’s nothing wrong with betting on the fly, if you are hoping to become a more successful bettor, consider a unit betting system. This system ensures that all bets you place are for 1-5% on your bankroll — with the higher the percentage being directly related to your odds of winning your bet. By doing this, you’ll never lose too much on a single bet. And more so, you’ll be able to tailor your bet size based on your odds of winning.

Stick to Sports That You Know

When you’re starting off, it’s best to stick with sports and leagues you know. For me, that’s the EPL, La Liga, and UFC. When I bet on one of those sports I win far more often than if I venture into rugby or the NFL on a whim. And for most experienced sports bettors, it’s a similar story. So stick to betting on sports that you enjoy watching recreationally and know a lot about.

Pros and Cons of Using Bank Transfers for Online Betting

✅Pros❌Cons
Low minimum deposit limitsWire transfers can be slow
High maximum deposit limitsWire transfers can incur fees
Very convenient. Don’t need to sign up to new services
Electronic banking is fast
Secure
Offered by most UK sportsbooks

As you can see, the cons of bank transfers come with wire transfers. That’s not to say that wire transfers are inherently worse, but if you are considering playing at sports betting sites that accept bank transfers as a banking method, it can be well worth getting comfortable with electronic transfer if you’re not already.

Alternatives for Betting in the UK

Bank transfer is one of the best methods of depositing and withdrawing online betting sites in the UK. However, there are alternatives.

FAQs

  • What gambling sites accept bank transfer?
    Given its popularity, nearly all sports betting sites will accept a bank transfer. This includes accepting both electronic bank transfers and wire transfers.
  • Can you withdraw money to your bank accounts?
    So long as you deposit money with a bank transfer, you can just as easily withdraw money to the same bank account.
  • Is electronic banking or wire banking better?
    Electronic transfer and wire transfers both have their strengths. However, unless you're a high roller, it's usually a better idea to stick with electronic banking due to its speed and lack of fees.
  • Are bank transfers safe?
    Funding your online betting account through bank transfers is arguably the safest method of depositing funds. Similarly, withdrawing via a bank transfer is just as safe whether you're doing a wire or electronic transfer.
  • What is the minimum deposit for bank transfers?
    The minimum deposit for bank transfers will vary from site to site. However, it's usually £5-10.
  • Can you claim sports betting bonuses with bank transfers?
    Nearly all sports betting bonuses including welcome bonuses are available to users who deposit via bank transfers.
AUTHOR
Alex Windsor

Alex is the Head of Content here at Minimum Deposit Betting Sites, leveraging his immense experience in the sports betting and iGaming industry to steer the boat and make sure all of our content is up to par and of the best possible quality.