BACS Payment Alternative For Casinos not on Gamstop
BACS payment (short for Bankers Automated Clearing Services) is a domestic UK bank to bank transaction protocol. By this method, users can transfer and receive money from any other party in the UK within several minutes without waiting for the usual procedures linked with remittances. Recently, many UK casinos accepted this scheme, the most prominent of which is Bet Victor.
Needless to say that AML and KYC protocols are applied to all BACS transfers. However, the advantage here is that all these standards are already in place on the sender/ receiver account before the payment. This ensures quick transfers always. In addition, all financial transactions made through BAC are regulated by the UKGC, which is the strictest committee in the online gambling industry.
The main objective of launching this service is the desire of the regular banking sector to gain a higher position in the competition with wallets and cryptos by offering faster transactions with lower fees and second to none security. However, the major drawback of this protocol is that it is only existent in the UK. So, you will not be able to use it in casinos outside GamStop.
On this page, we will provide you with a detailed guide to all the perks and drawbacks of the BACS service; How to use it safely in the casinos that accept it. Also, if you prefer to play at casinos outside GamStop we will provide you with the most prominent alternative methods.
Jason Farrell`s Blog on Electraworks limited alternative casinos. Last Updated: 26 November 2021
BACS Payment Alternative For Casinos not on Gamstop (November 2021)
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