History of payments by bank transfers Pros and cons of bank transfers Finding the best bank transfer casino for you How to pay by bank transfer in an online casino Bank transfer casino bonuses. Bank transfers as we know them have a history stretching back to the 19th century . The term 'wire transfer' comes from the 1870s, when a bank operator, after receiving money from the sender, would transmit a message via telegraph, or 'wire' as it was known, to an office in a different city to authorize the release of funds to a person there. A 'telegraphic transfer' also gets its name from this procedure. In the 1970s, seven international banks formed a co-operative transfer system called Society for Worldwide Interbank Financial Telecommunication or, conveniently, SWIFT for short . The goal was to standardize the transfer process between countries, offering customers a guarantee that funds would be sent securely. It works by assigning each institution a different code, directing the funds to the correct place. Here's a quick summary: While the internet age has led to people preferring transfers via apps and digital wallets, there is still a large customer base for bank transfers .
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