ONLINE BANKING
In the earlier days, the deposit and withdrawal processes tied to online betting were extremely bad.
The joy of the whole betting experience was compromised because of the inconvenience that players faced while transacting. Nowadays, it is easier to move your money around.
The number of betting sites that accept online bank deposits is increasing
Online banking is an easy way for players to deposit money into their betting accounts. A lot of betting sites now have the added option to use internet banking services to make payments from their bank account to their betting account.
Internet banking, net banking or online banking is a facility that financial institutions and banks offer that allows customers to use banking services easily over the internet.
With such trouble-free payment methods, players now have the ability to make super-easy betting deposits!
So how do you go about using net banking to enjoy placing bets, you ask? We will take you through it step-by-step.
This article is carefully put together to walk you through the whole procedure of using online banking for deposits and withdrawals on a betting site.
PROS & CONS OF DEPOSITING WITH ONLINE BANKING
Pros
- All your banking services are done online, so you can transfer funds whenever you want to without having to wait for the banks to open.
- Customers need not go to their banks’ physical locations to carry out their banking needs or write cheques or stand in long queues anymore.
- There is NO minimum or maximum deposit limit on your betting site, unless the betting site specifically mentions that clause
- There is NO transfer fees involved when you deposit money into your betting account
- Processing time is instant, and you can see your deposited money in your betting account
Cons
- Since fund transfers happen online, you have to always rely on an internet connection to carry forward all your banking transactions
- If the banks’ servers are down or are facing technical difficulties, you will not be able to access the net banking option for depositing funds
- Online banking is not a widely accepted method of payment in betting sites, so it is not always the most available deposit option. This limits the bookmakers you can choose from if online banking deposits is your top priority
- Withdrawal from a betting account into your bank account using internet banking methods can have variable processing times that depend on several other factors
How to deposit with Online Banking
STEP 1: OPEN AN ONLINE BANKING ACCOUNT
In order to make a betting deposit with online banking, the first thing you will need is a bank account.
But just because you have a bank account doesn’t mean that you can access the internet banking facilities.
You will need to set up online banking with your bank first before you can perform any transactions over the internet.
There are several modes of setting up an internet banking account. It can be done by visiting your bank, or even by mobile phone. But most of the time, the easiest way is to do it online by signing up on your bank’s website.
The exact steps of setting up online banking will be different from bank to bank, But here are the rough steps you need to follow in order to get started:
How to register for online banking
- Go to your bank’s website
- Find the NetBanking registration page on your bank’s website
- You will be prompted for your customer ID and your mobile number.
- The bank will now send a code to your registered phone number
- Enter the code in the box provided
- Enter your debit card information when prompted for it
- You will be asked to set up a PIN which is essentially your password for your internet banking account
- You can now log in to NetBanking using your customer ID and newly added PIN
Deposit money to your bank account
Now that you have online banking set up, the next thing to do is ensure that you have enough money in your bank account to make a deposit on a betting site.
If this is the first time you’re making a deposit on a betting site, we recommend you deposit as much money as you can spare.
If you need some money in your bank account you have 2 options:
- Go down to your local bank branch and deposit some cash to your account.
- Make a friend or family member transfer money to you and give them cash.
When you have the amount of money in your bank account that you need, you are ready to move on to the next step: deposit money on a betting site.
STEP 2: MAKE A DEPOSIT ON A BETTING SITE
Now that you have set up your online banking account, depositing funds to your betting account becomes super easy.
Depositing money on a betting site with online banking is still a very new concept, and so only a few betting sites accept this deposit method so far.
But more and more betting sites are beginning to accept Netbanking deposits every few months.
To give you an example of what it’s like to deposit on a betting site with online banking, let’s take the example of Betway.
To deposit funds into your Betway betting account from your bank via internet banking, follow these easy steps:
- Log in to your Betway account
- Click on the “Bank” icon on the front page and you will see a list of deposit methods
- From the list of deposit options, choose Netbanking.
- Now, select your bank from the list of banks.
- You will then be taken to the bank’s login page where you will be asked to enter your customer ID and PIN.
- For your very first transaction, you will be prompted for a one-time password that will be sent as a message to you on your registered phone number. You can disable this feature for future transactions
- Once a secure connection has been established, you can confirm the deposit and the transaction will be completed.
Congratulations. You have successfully made a deposit using online banking!
You will see the amount you deposited instantly reflected in your Betway betting account.
Even though this particular example talks about transacting with Betway, the deposit procedure is more or less the same for most of the betting sites that support internet banking methods for depositing funds.
STEP 3: START BETTING
Now that you have completed your online bank transfer and funded your betting account, it’s time to get started doing what it’s all about: start placing some bets!
All betting sites found here on Mybetting.in provide an abundance of sports that you can bet on, including cricket, football, kabaddi, and horse racing.
In addition, you will find tons of other gambling options like casino games, poker, online bingo, and much more.
There’s no need for boredom or procrastination. All the games you could possibly want are right in front of you.
So what about when it comes time to withdraw money from the betting site. Is that difficult and expensive? No, quite the contrary. It’s actually very straightforward. Let us tell you how.
HOW TO WITHDRAW MONEY FROM A BETTING SITE WITH ONLINE BANKING
So you’ve won some cash and made some nice profits on cricket betting or at the roulette tables and now you want to make a withdrawal.
Maybe you want to take your girlfriend to a fine dining restaurant. It’s perfectly fine, we all deserve to enjoy the fruits of our labor.
But how do you withdraw money from a betting site with online banking?
Don’t worry about it: it’s actually really easy.
Most betting sites provide free online banking withdrawals directly back to your bank account.
The amount of time it takes for the withdrawal to reach your bank account is up to your bank. It will sometimes take up to 24 hours on a business day.
Making withdrawals from a betting site with Netbanking is both safe and easy, so you don’t have to worry about a thing next time you want to withdraw some of your profits.
Get started today
If you’re ready to get started betting online today, then follow this guide and select one of the great betting sites that accept online banking deposits.
Making a betting deposit is easy when you use online banking!
So get started today – we can’t wait for you to join us!