Bank Transfer Betting Sites UK Options Updated for 2022

Bank Transfer Betting Sites

Updated: May 7, 2022

Most betting sites in the UK offer some sort of bank transfer system. They will normally operate under the Direct Debit system (run by BACS), but there may be other bank transfer betting sites options.

On this page, we are going to give you an overview of how the bank transfer system in the UK works. We are also going to run you through the pros and cons of the system (of which there are many).

Bank Transfer Betting Sites UK

See alist of latest betting sites that offer bank transfer as a deposit method.

1
BetGoodwin Review BetGoodwin Review
5 / 5
TOTAL SCORE

Bet £10 Get £10 Free Bet

New 2022 UK horse racing and sports bookmaker.

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18+ only Full Terms and conditions apply.
2
Highbet Sports Evaluation Highbet Sports Evaluation
5 / 5
TOTAL SCORE

Bet £15 Get £10 Bonus Bet

Highbet Sports Review - new betting site for 2021 providing a full range of sports, fast payouts and good banking choice. Live betting with all types of bets on offre. Promoting of fair play, security and efficient Customer service making the bookmaker a great choice for your bets.

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#AD 18+ Full Terms & conditions apply
18+ Full Terms and conditions apply.
3
Free Bet if 2nd to SP Fav on Horse Racing bets Free Bet if 2nd to SP Fav on Horse Racing bets
5 / 5
TOTAL SCORE

7 Places on the Grand National

Boylesports Review - join one of the biggest Independent bookmakers at Boylesports. Top flight entertainment provided from a respected betting site with telephone, mobile and online gaming. Good supply of betting features and promotions to suit all players.

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#AD 18+ Full Terms & conditions apply
18+. UK & IRE mobile customers only. 1/5 Odds. 25+ must run for 7 places. Applies to the Grand National, Aintree, 5.15pm Saturday 9th April. Applies to Each-Way Market only. Race will revert to normal place terms if criteria not met. Applies to bets placed from 3pm, Thursday 7th April. Applies to Outright Betting only. T&Cs Apply.
4
Bettarget Review 2021 Bettarget Review 2021
5 / 5
TOTAL SCORE

Bet £15 Get £10

If you are looking for a genuine decent online betting site then look no further than the Bettarget site. Concise Live betting display and responsive website design - with regular rewards - appeals to new and seasoned online bettors. Hard not to recommend.

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#AD 18+ Full Terms & conditions apply
18+,New customers only. Min wagering on sport £15. Max one £10 free bet. Qualifying bets must be placed at odds of 1/1 or greater. Paid as bonus token with min 4/5 odds req. Selected payment methods only. Bet expires after 14 days of being credited. Click to see full T&Cs
5
Betfair Sports Review Betfair Sports Review
5 / 5
TOTAL SCORE

Up To £100 in Bonus Bets

The UK's biggest Exchange and sportsbook gambling site.

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#AD 18+ Full Terms & conditions apply
New customer offer. Place 5 x £10 or more bets to receive £20 in free bets. Repeat up to 5 times to receive maximum £100 bonus. Min odds 1/2 (1.5). Exchange bets excluded. Payment restrictions apply. T&Cs apply.
6
Luckster Sports UK Review Luckster Sports UK Review
4.8 / 5
TOTAL SCORE

Bet £10 Get £10 Free Bet

New UK sports betting site launched in 2022.

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#AD 18+ Full Terms & conditions apply
18+. Full Terms and conditions apply.

How To Make a Bank Transfer to UK Betting Sites

As we said, there are a few different systems that online new betting sites can use in the UK.

A small proportion will use the Direct Debit system. This means that you will need to submit a Direct Debit instruction to the online betting site (normally in the banking section), and then wait a few days for your bank to approve it.

Once the bank has approved it, you can instruct the betting site to use the Direct Debit. Initial set-up can take 3-working days, and each additional deposit after that can take 3 working days too.

The second option will be to deposit your online banking. This process is a bit more convoluted but faster for first deposits (you don’t have to set up a Direct Debit)

  1. Head to the online betting site and discover their bank transfer details (normally under the banking options). Write these details down.
  2. Head to your online banking and start a new bank transfer. How you do this will be dependent on your bank.
  3. Type in the details that you received from the betting site.
  4. Wait 3-5 working days for the cash to be in your account.

Is It Secure?

Bank transfers are among the most secure of transactions that you can make.

If you deposit using Direct Debit, then you are protected under the Direct Debit guarantee. This means that the bank has a legal obligation to give you your cash back within a reasonably substantial time (if you didn’t authorise the transaction)

If you are using the online banking method, then it is unlikely somebody else will have the ability to go into your online banking system. There are too many safeguards for that.

Better Options

We always recommend that people steer clear of bank transfers, where possible.

It is always considerably better to use an eWallet (e.g. PayPal, Neteller, or Skrill) for your deposits and withdrawals. They are faster, and you can attach several different payment methods to them.

Pros and Cons

Let’s wrap up by giving you an overview of the pros and cons of the bank transfer system. This way you can decide whether it is the right system for you.

Pros

As we mentioned previously, the bank transfer system is incredibly secure. You don’t have to share your details with the new UK betting site. You don’t have to give them any personal information related to payments.

There will rarely be fees tied to the bank transfer too. We know that some online betting sites charge a little bit, but they are exceedingly rare.

You can also use the bank transfer system for deposits and withdrawals, which means that you only need one payment method on the site.

Cons

The major problem with the bank transfer system is that it is slow. Since all of these sites use BACS, you are looking at a minimum of 3 working days deposit and withdrawal time. You can’t get around this. That is a minimum. Sometimes it can take up to 5 working days. Not good if you want to gamble now!

The minimum deposit and withdrawal amounts tend to be a little bit higher than other payment methods too, which can be a bit annoying if you are a gambler that likes to play with lower stakes.

We also find that the process is a bit more complicated, at least on the deposit front. This is because (in most cases), you will need to use your online bank in addition to the online betting site. It is just more steps in the process.

Conclusion

Online bank transfer in the UK is a great payment method, but not necessarily when you are betting online. It is a secure method for getting cash into your account, but it is just too slow.

Only use online bank transfer if you are planning on gambling with the cash in the future.

If you need to gamble today, then we suggest that you use debit cards or eWallets.

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