Direct Bank Transfer is a very easy way to deposit funds directly from your bank account into your online sports betting account. In order to fund your account using the Direct Bank Transfer you simply provide your banking details including your bank name, account number, institution number and branch transit number to the online sportsbook, as well as the amount you wish to deposit. All of this information can be found on a personal cheque, so this method is very similar to sending in a cheque, without having to physically mail in the personal cheque.
Sportsbooks Accepting Direct Bank Transfers
Bodog is the only one of our top rated betting sites that accepts Direct Bank Transfers.
If you are considering using the Direct Bank Transfer deposit method I suggest considering the Interac e-Transfer method instead. You have to provide far less bank details with Interac and it is much easier to use.
Direct Bank Transfer Deposit Guide
Here is a step by step guide to depositing via Direct Bank Transfer:
First of all you will have to fill in the Direct Bank Transfer form, an example of which can be seen below (from Bodog):
If you are unsure what your Branch Transit, Institution ID and Account Number are, they are all easily found on your personal cheque. Here is an example:
As you can see the first 3 digits on the cheque are simply the cheque’s number so they are not needed in this form. The next 5 numbers are the Branch Transit number, with the following three digits being the Institution ID. The remaining numbers on the cheque are your account number.
You must also enter the amount you wish to deposit, your account type (Savings or Chequing) and your Bank Name.
You also have to include the last four digits of your SIN #. I know this is a deal breaker for many people. Again, I suggest the Interac deposit option as a much easier alternative to Direct Bank Transfer.
After filling out all of this information go ahead and click Deposit to fund your account.
If everything was filled out correctly you will receive a confirmation message that your deposit was successful.
Withdrawing via Direct Bank Transfer
The great thing about Direct Bank Transfers is that when you decide to withdraw the money is paid out directly to your bank account.
It will usually take between 1 and 3 business days from the time of your payout request for the funds to appear in your bank account.
At Bodog all Direct Bank Transfer payouts are free and you are allowed 1 withdrawal per day.