Direct Wire Sportbooks and Review
Direct wire is becoming more and more popular as a convenient and hassle-free method of transferring funds between two accounts. Online punters, especially, find this a very convenient way to transfer their funds from their favorite eWallet to their bank accounts from the top betting websites. Moreover, direct bank wires save a lot of time, energy, and money. Wiring money to someone is very easy too.
Pros/Cons
The biggest advantage of a direct wire transfer is that they are safe. In fact, wire transfer of funds from a bank account to any other account, including eWallet accounts, is believed to be the safest and simplest way of transferring funds. Owing to encrypted methods of communication, customers’ private information is safe and secure in case of a direct wire.
However, direct bank wires can cost a lot of money in some countries although it is quite affordable in most countries. Online punters also must be careful about wiring money to unknown agents because the money, along with the agent, has the tendency to disappear. Other disadvantages of a direct wire are that the wire transfer could get lost and the numbers could get transposed. The wire can also be delayed for a number of reasons.
Fees and Costs
The fees charged by a bank, financial institution, or an eWallet vary from country to country and from service to service. In the US, the Federal Regulation governs the pricing of domestic wire transfers. Online punters who want to avail of this convenient method of fund transfer must check out the FAQs of their bank, eWallet, or financial institution.
Best Accepted Direct Wire Sportsbook
SportsInteraction.com (For Canadians only)
How to Use It
Wiring funds to someone is very easy. Online punters can check out online money transfer sites such as Xoom, PayPal, Money Booker, and others, which allow customers to safely transfer money from online account to bank account and vice versa.
Western Union is the largest company that offers direct wire transfers. Customers do not even need to have an account with Western Union or any bank in order to send and receive money. However, customers do not seem to be happy with Western Union because it charges exorbitantly and blocks transactions in some cases.
Customers can go to their bank in person or make a call or go online in order to request a wire transfer. The bank then uses a service called SWIFT (Society of Worldwide Interbank Financial Telecommunication) to carry out the wire transaction.
Who it Benefits
The system is of great benefit to anybody who wants to transfer cash from one account to the other. It benefits employers who want to make payments to employees, customers who want to pay their bills, and online punters who want to direct wire transfer their winnings from their eWallet accounts to their bank accounts.
Background
Wire transfers have been around as a secure method of transferring funds from one bank to the other even before computerized banking became popular. Direct Wire is efficient payment merchant that uses a time-tested and proven method of fund transfers that has worked in the past and continues to work effectively even today.
