Electronic Funds Transfer Payment Method

The Electronic Funds Transfer (EFT) is one of the quickest and most reliable payment methods for online gamblers to transfer money to the online casino. Let’s look at the Electronic Funds Transfer and see if it is still a good option for making deposits and withdrawals.

An Electronic Fund Transfer is defined as any transfer of funds which is done electronically from one account to another. It can be done through one bank or it can be done using multiple financial institutions. The EFT can actually refer to a number of different transactions including direct deposits, credit card payments, wire transfers, etc. but when it comes to transferring money to an online casino it is simply a transfer from the gambler’s bank account to the designated account that the online casino uses.

There used to be a time when the EFT was a great method for making payments to online casinos and that is still the case in some countries. That has changed to some extent as banks have made it more difficult to transfer money to online casinos, especially banks in the U.S. That has resulted in gamblers choosing other options like EntroPay, Skrill, Western Union, etc. to make deposits and withdrawals. Gamblers outside the United States still like to use Electronic Funds Transfers though because they are fast, convenient and reliable.