Bank Transfers in UK iGaming: Stability in a Rapidly Evolving Sector

Over the past decade, the UK iGaming market has seen dramatic changes in how players deposit and withdraw funds. Digital wallets, pay-by-mobile solutions and new fintech providers have steadily entered the space, offering fast and seamless payment flows.

And yet, bank transfers continue to hold their ground.

Often viewed as the slower alternative, bank transfers still rank among the UK’s most trusted and widely used payment methods. Their appeal may not lie in speed, but in something many players value more: familiarity, control and long-term reliability.

To explore why bank transfers remain a go-to option for many UK players, we spoke with Severi Haverinen, Marketing Manager at Bojoko, a popular online casino comparison platform. Haverinen closely follows trends in player behaviour, payment preferences and operator offerings across the regulated iGaming market in the United Kingdom.

“Bank transfers are not flashy,” Haverinen says. “But they have been around for years, and players know what to expect. Especially in the UK, where players are more cautious and aware of licensing and security, the comfort of using your own bank account still carries a lot of weight.”

For many, the decision to use a bank transfer comes down to familiarity. “There is no extra app to download, no new account to verify,” he explains. “It is the same bank they use for everyday purchases. That creates a sense of control that newer payment options cannot always replicate.”

Speed is the one area where bank transfers still lag behind. But Haverinen says that, for a lot of users, that is not necessarily a dealbreaker.

“They know it takes a bit longer, and they are okay with that,” he says. “When a player prioritises safety and transparency, the convenience of an instant wallet is not always enough to make them switch.”

And the process itself has improved. “It used to be clunky with long forms, unclear instructions and slow confirmations,” he adds. “But most platforms have invested in improving the user flow, especially on mobile. It is a smoother experience now.”

Part of that improved experience comes from changes behind the scenes. “In some cases, technologies like Open Banking have helped make bank payments feel noticeably faster and more seamless,” he says. “For players, that can mean quicker confirmations and a more efficient flow overall.”

Bank transfers remain widely used, and many players actively look for casinos that support them. “That is why we track payment methods closely and offer an updated list of these offers, so British players can easily find the best casinos that support bank transfers,” Haverinen says. “For a lot of players, it is still a deciding factor when choosing where to play.”

He notes that bank transfers are particularly popular with more experienced or high-value players. “You often see it among regular depositors or those who prefer to keep things simple and direct. It is viewed as the more stable, trustworthy option.”

As the industry continues to innovate around speed and convenience, bank transfers remain one of the few methods that have consistently earned player trust.

“They are not the fastest, and they are not the newest,” Haverinen says. “But they have stood the test of time. And in this space, trust continues to play an important role.”