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Best Bank Accounts for Gambling Affiliates
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Locating quality affiliate programs is as important as finding reliable banking solutions. The best bank accounts for gambling affiliates provide peace of mind through secure and convenient payments.
Reputable affiliate program sponsors recompense gambling affiliates regularly. However, receiving your part of a revenue share program on time will mean little if your partner bank doesn’t fit your needs, has high fees, and makes it difficult to manage your money. Therefore, it is paramount that you side with a bank that has all your requirements covered and lets you feel all the perks of top-quality gambling affiliate programs.
Introduction to Gambling Affiliate Bank Accounts
Partnering up with the right online casino affiliate program and expanding your reach through joining the best affiliate networks can lead to excellent results. However, it’s essential to set up a bank account with a reputable banking institution that works with gambling transactions. Picking the right bank will allow you to get the funds online gaming sites pay you swiftly and with minimal hassle, wherever you may be located.
With the right bank transfer option, you will also be able to pay minimal fees for things like currency conversions and standard bank charges. Lastly, trustworthy banking methods utilise the latest in fraud prevention technology. As a result, they allow online casinos to transfer money to gambling affiliates securely and with almost no associated risks.
Significance of Banking Partnerships for Gambling Affiliates
The bank you pick as a gambling affiliate won’t be just a method for you to send and receive online bank transfers. It will also be your partner throughout your gambling affiliate endeavour. The right banking partnership can pay dividends to both those who have just entered the online gambling industry and those with years of experience in it.
Payment Processing
Sports bettors and casino players look for payment methods that facilitate instant deposits, fast withdrawals, and low fees. If deposit and withdrawal times are not up to their liking, they won’t hesitate to explore alternatives. The success of your gambling affiliate business will depend on finding gambling-friendly banks that support low-cost, lightning-fast transactions and process payments in multiple currencies. Only banks that work with operators of online gambling sites and provide affiliates with competitive transaction speeds and minimal fees will do.
Global Reach
One of the perks of going with the best bank accounts for gambling affiliates is that they open the doors to global transactions in multiple currencies. This expanded reach enables collaboration with online sportsbooks and casinos worldwide. Moreover, the ability to receive money from casino affiliate sponsors and online sportsbooks from all corners of the world means you can tap into international online gambling audiences, improve your content with expert copywriting techniques, and target various wagering jurisdictions.
Regulatory Compliance
Gambling affiliates always advise players to open online gambling accounts with licenced and regulated online casinos and sportsbooks. So, why shouldn’t that be the case with the banks of gambling affiliates? Trustworthy banks are regulated by renowned financial authorities, such as the Consumer Financial Protection Bureau, the European Central Bank, the Financial Conduct Authority, the Bank of Lithuania, and others. Their operations are bound by strict market-specific regulations aimed at customer protection, ensuring that choosing regulated banks is a reliable means of safeguarding your best interests.
Fraud Prevention
Gambling-friendly banks use sophisticated fraud prevention and security technology to ensure that transactions from online casino providers to gambling affiliates won’t become the target of malicious software attacks. These include multifactor authentication, firewalls, spyware and ransomware detection, and encryption protocols to secure data. Reliable banks prioritise fraud prevention by swiftly notifying you of suspicious activity and preventing it. They use biometric data, artificial intelligence, IP analysis, and behaviour patterns to make sure that you don’t become the target of fraudsters.
Factors to Consider When Choosing Affiliate Bank Accounts
You should look at several factors before deciding to partner with a financial institution and open an affiliate bank account with it. The bank you choose will become an integral part of your gambling affiliate business network, so you should spend some time and energy picking the right one.
Security & Fraud Protection
If your gambling affiliate website does well, there will be a lot of money moving in and out. Therefore, it is paramount that the bank you choose utilises the latest in security technology and fraud protection practices. In short, your partner financial institution must protect you against phishing and identity theft, as well as various malware attacks.
And because the bank is the epicentre of all financial activity and the place where you will see how successful you and your online casino affiliate networks are in meeting your goals, it must build an impenetrable security wall between you and fraudulent individuals too.
Transaction Limits and Costs
Reliable banking institutions provide you with several bank account plans, and you choose the one that best works for you. Transaction fees and bank account costs are usually the first things you should check. If banks have hidden fees, eliminate them right from the start.
Once you do that, you can focus on the plans that are most cost-effective. For instance, consider how often you will need to do currency conversions, pay administrative fees, or cover account maintenance costs. Then locate the plan that seems suited to your needs.
Payment Processing Speed
The best bank accounts for gambling affiliates facilitate super-fast transactions. Even though bank transfers aren’t the fastest and most expedient payment methods out there, the top banks for casino affiliates still provide you with decent processing speeds.
However, the problem here is that you rarely know the exact speed of transactions until you start using the bank account yourself. Fortunately, you can hire professionals to perform comprehensive payment testing services that will tell you exactly how long payments take, thus helping you choose the right financial institution for your gambling affiliate business.
Multi-Currency Support
Top banks for gambling transactions work with a wide range of currencies, including traditional fiat currencies and digital cryptocurrencies like Bitcoin. For example, in recent years, Bitcoin has gained popularity, and its integration into these banks reflects the evolving preferences of businesses and affiliates in the gambling industry.
The best multi-currency banks will usually charge a lower transaction fee for currency conversions and eliminate the risks associated with fluctuating exchange rates. The fact that all your payments will be received by a single bank makes accounting more straightforward too.
Online Banking & Mobile App Experience
These days, you would be hard-pressed to find deposit and withdrawal methods that don’t offer dedicated online banking and mobile payment solutions. That goes double for the best gambling payment gateway solutions, which must be mobile-friendly to succeed in the competitive fintech and gambling industries.
So, when considering which gambling affiliate banks to pick, don’t forget to check their mobile and online banking options. These digital banking options grant you round-the-clock access to critical financial features, allowing you to check your balances, transfer money, and view pending transactions.
Customer Support
The best bank account providers for affiliates work with most online sportsbooks and casinos. That means they are well-versed in providing support to businesses and individuals in the online gambling industry and know the issues they face.
Therefore, before opening a bank account, check if the bank has experience with gambling deposits and withdrawals. Then examine the communication channels it provides and how long it takes for help-desk personnel to answer your queries. Lastly, make sure that the support service works around the clock.
Best Bank Accounts for Gambling Affiliates
If you have just started as a gambling affiliate or want to change the existing bank where you receive your gambling affiliate payments, now is a great time to open a bank account with a proven financial institution. To help you with that decision, we have shortlisted four of the best banks for gambling affiliate payments, leaving you to partner with the one that seems like a good fit for your future plans.
The Kingdom Bank – A Crypto-Friendly Haven for Gambling Affiliates
Established in 2015, The Kingdom Bank is a proven partner of companies operating in the online gambling industry. This ISO-27001-certified bank is licenced and authorised by the Financial Services Unit of the Ministry of Finance in Dominica. The great thing about The Kingdom Bank is that it is a crypto-friendly financial institution that facilitates secure crypto transactions 24/7.
The award-winning bank also specialises in various banking solutions and excels in B2B banking and B2C payments, making it possible for users to exchange both money and digital assets both locally and globally. OTC trading is also available, allowing bank account holders to trade independently and exchange equities, commodities, and currencies effortlessly.
| Bank | The Kingdom Bank |
| Established | 2015 |
| Country of Operation | Multiple |
| Head Office | Roseau |
| Fraud Protection | Yes |
| Customer Care | Live Chat, Email, Telegram |
| International Banking Solutions | Yes |
Wise – Global Leader in Fast and Cost-Effective Payments
Established in 2011, Wise, formerly known as TransferWise, is one of the most reputable international financial institutions. Authorised by the Financial Conduct Authority (FCA), Wise operates in 160 countries and facilitates bank transfer payments in 40 currencies. Over 300,000 international businesses use Wise to do everything from paying employees to receiving payments, and more than 16 million people use Wise’s multi-currency accounts to send borderless payments.
Another thing that sets Wise apart from other banks is the low cost of sending money, boasting some of the lowest fees for bank transfers. In fact, the bank based its whole business plan on outsmarting the system that was fleecing customers with steep hidden fees. Wise also ranks as one of the fastest online payment methods, with an estimated average period of 18 hours for sending 1,000 GBP to EUR.
| Bank | Wise |
| Established | 2011 |
| Country of Operation | Multiple |
| Head Office | London |
| Fraud Protection | Yes |
| Customer Care | Live Chat-Email-Telegram |
| International Banking Solutions | Yes |
Revolut Business – One Platform for All Your Business Needs
Launched on July 1, 2015, Revolut Business is a bank transfer payment solution that adds more than 10,000 businesses to its list of clients each month. The payment provider issues over 130,000 cards a month, and payments can be sent from and to 100+ countries.
With Revolut Business, you can initiate and accept local and international transfers in 28 currencies, but you also have the chance to spend using 150 global currencies. You can issue physical and virtual debit cards to people in your team and set smart spending rules too. Another perk of using Revolut Business is that you can create as many sub-accounts as you need and do that in each currency.
| Bank | Revolut |
| Established | 2015 |
| Country of Operation | Multiple |
| Head Office | London |
| Fraud Protection | Yes |
| Customer Care | Live Chat, Email, Phone |
| International Banking Solutions | Yes |
PayPal for Business – A Proven End-to-End Bank Transfer Payment Method
Founded in 1998, PayPal is a renowned payment system, and its PayPal for Business service is popular with gambling affiliates. PayPal for Business allows businesses to accept payments into your PayPal account from various banking options, such as PayPal, Venmo, and Pay Later, as well as credit and debit cards. Because the banking solution works with state-of-the-art eCommerce and accounting tools, it makes running a business more predictable, helping you save time and money.
Businesses partnered with PayPal can get paid via invoices, links, or by processing payments manually through a web browser. When it comes to security, PayPal for Business provides gambling affiliates with comprehensive fraud management instruments to choose risk tolerance levels, set up filters, and create block lists, thanks to PayPal’s vast experience in the industry and security technology that is the direct result of a $1.36 trillion payment volume (for 2022) and constant pursuit of innovative security solutions, such as the recent pilot scheme of photo verification of payments.
| Bank | PayPal |
| Established | 1998 |
| Country of Operation | Multiple |
| Head Office | San Jose, California |
| Fraud Protection | Yes |
| Customer Care | Live Chat, Email, Phone |
| International Banking Solutions | Yes |
Conclusion – Affiliate Success through Secure and Efficient Banking
As you can see, picking a reliable bank is a prerequisite to the success of your gambling affiliate business. You can locate the best online gambling affiliate programs and join the most prosperous affiliate networks. However, if you don’t partner with a respectable bank that has a proven track record of working with online casinos and sportsbooks, you might expose your affiliate business to unnecessary risks.
Fortunately, there are many top-quality banks that have indirectly helped gambling affiliates boost revenue by providing them with a secure and predictable banking environment. Contact Revpanda today and discover the perks of safe affiliate banking and enhance your prospects of success!
FAQ
Locating a reliable bank for your gambling affiliate business provides you with a myriad of opportunities for growth. We hope we helped you find that gambling-friendly bank that fosters a safe and secure banking climate for your future endeavours. However, if you need additional information to make an educated choice, feel free to go through our FAQ section for the best bank accounts for gambling affiliates.
