There are two types of bank transfer that we offer, a standard bank transfer and Pay by Bank. This article will focus mainly on standard bank transfers. For information on Pay by Bank, see our article here.
How do I register for standard bank transfer?
You don't need to register for a standard transfer, you just need to make a deposit or withdrawal using your bank details. Follow the steps below:
- Once you have logged in on the app, click on the account symbol at the top right of the Home Page
On browser you can shortcut to the Deposit Page by clicking on the Deposit button in the top right.
Alternatively you can visit our Deposit page available here.
2. If using the App, then select 'Deposit' or 'Deposit Funds'
3. Select the 'Other Methods' Tab for Pay by Bank.
You can make a Bank Transfer from this page by looking for the below symbol and following the instructions alongside (withdrawals) or underneath after clicking on it (deposits):
What are the main differences, benefits and timescales between a standard and Pay by Bank?
- Standard Bank Transfers take between 1 & 5 days to reach your Betfair account (deposits) or your bank account (withdrawals). After your first deposit via Pay by Bank (which can take up to 90 minutes), subsequent deposits & withdrawals are immediate.
- The minimum deposit amount is lower via Pay by Bank (£5.00/5.00EUR vs £20.00/20.00EUR on standard)
- The minimum withdrawal amount is also lower via Pay by Bank (£5.00/5.00EUR vs £10.00/10.00EUR on standard)
- Pay by Bank is much quicker to set up as you can do all the verification checks using your banking app whereas the standard transfer asks you to put input your bank details so you will need these to hand
- In both instances, payments are authenticated directly with your bank and personal details are never stored or shared with anyone.
Are there any fees associated with Bank transfers?
Fees do not generally apply to either type of transfer. However, with standard transfers you have a daily limit as to the amount you can send. If you go above the daily limit, the transfer could be rejected, and a fee applied. This limit should be detailed at the time on the deposit/withdrawal page when making the transfer.