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Introduction to Instant Banking

instant banking

Instant Banking is a safe, secure and convenient method for making payments using online banking services.

The system allows users to make a quick transfer of cash from a bank account into a betting account within a matter of minutes.

Many top betting firms offer Instant Banking as a payment method to their customers including Sports Interaction and 888sport.

There is no account set-up process and no need to load up an electronic wallet – as the name suggests, Instant Banking happens instantly!

Instant Banking transactions can be completed on desktop, laptop, tablet and mobile, making it one of the most effective payment methods around.

The system uses the latest encrypted technology to ensure that punters are full protected when they make deposits or request withdrawals.

In order to use the service you must be at least 18-years-old and have a bank account at one of over 300 supported financial institutions worldwide.

Most of the leading banks in Canada support Instant Banking payments including Bank of Montreal, CIBC, HSBC, National Bank of Canada, Royal Bank of Canada, Scotiabank and TD Canada Trust.

Advantages and disadvantages of using Instant Banking

Pros

  • The simplicity of Instant Banking is its major selling point, with the system offering a reliable alternative to using debit/credit cards, e-Wallets and other payment methods.
  • The immediate nature of the service means you can keep fully up-to-date with your spending and stay within the boundaries of your betting budget.
  • Withdrawals are generally received back into your bank in a timely fashion, with 2-3 working days the norm for the majority of requests.
  • Instant Banking also allows you to make payments in different currencies – meaning you can send funds to gambling sites overseas.

Cons

  • Users of the service are generally given a limit when they first submit a payment, although this can be increased as people build up a history of successful Instant Banking payments.
  • Some Instant Banking transactions are subjected to fees, but these are generally very small. Given the convenience of the service most people have no issue with the charge.

How to deposit funds using Instant Banking

If you have never previously completed an Instant Banking transaction with your bookmaker you will need to create a new payment via your online banking system.

Login to your account using your usual personal information and navigate to the payments section on the site.

Choose the ‘set-up new payment’ option and enter the details of the gambling operator. If you can’t find this information on the site, their customer service team will be able to help you.

Once you have entered all the requested details you will be able to action your deposit. Click on ‘Make Payment’, enter the amount and click ‘Send’ or ‘Confirm’.

There may be a further verification process to navigate at this point, although is usually only applied to the first ever payment you make to a vendor.

Most deposits will be credited to your betting account immediately, although some may take an hour or two to reach the site.

Check out the terms and conditions on your chosen site to understand the timescales involved and make sure you check out whether any bonuses are available for depositing via this method.

When the Instant Banking transfer is credited to your bankroll you will be able to start placing bets on your favourite events.

instant banking

 

Verify_deposits - instant banking 

How to withdraw funds using Instant Banking

Withdrawing your winnings via Instant Banking is simple – just visit the ‘Cashier’ or ‘Account’ section on your bookmaker’s site to get started.

When you land on the page you will be greeted by a list showing the different withdrawal methods offered by the operator.

Most leading firms require you to withdraw via the same way you made a deposit, so make sure you are happy with Instant Banking’s timescales before using this method.

When you are ready to start the process, click on ‘Withdrawal’ to be taken to the appropriate page. Enter the amount you wish to withdraw and click ‘Confirm’ or ‘Withdraw’.

The site will already know your bank account information based on your deposit, so this helps to speeds up the process.

You may be required to enter your password (or selected digits from it) before being allowed to complete the transaction.

Once this is completed your withdrawal will be actioned. Some sites do this instantly, while others may take up to 48 hours before releasing the funds.

Depending who you bank with you may have to wait between two to seven working days before receiving the funds back into your account.

Each bookmaker has a payment table on their site, so always check this out before signing-up to make sure they meet your needs.

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