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Bank Wire Transfer in Mexican Casinos
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It is no secret that Mexico is one of the LatAm markets that grow at the fastest rate, with hundreds of sites already properly licensed to cater to Mexicans, most of which allow them to make deposits and withdrawals with a bank wire transfer. Mexicans have the freedom to use any payment method they want to fund their online casino accounts, and since bank-related methods can be legally used across online casino sites, many players choose to use wire transfers for their deposits and withdrawals. The reasons for that are simple: this method offers convenience, ease of use, and speedy transactions. Continue reading more about it, so that you have all the info you need on it, to eventually give it a try yourself. What is bank wire transfer and why use it across Mexican online casinos?
Online Gambling Regulation in Mexico
Mexico has been offering a legal land-based gambling market since 1947. That’s why it is one of the most popular LatAm markets, which counts over 300 casino establishments within its borders. Both locals and tourists can frequent these casinos, and enjoy a variety of casino games without a worry on their mind. Each casino is more attractive and lavish than the other, these establishments have been attracting tourists from all around the world for years, boosting the country’s economy along the way.
Now, the law that regulates land-based gambling in Mexico is the Ley Federal de Juegos y Sorteos. This law was updated in 2004 when the country legalized online gambling. With the new Federal Games and Draws Law 2004, both land-based and online gambling are legal in Mexico. Operators that already had land-based operations were allowed to automatically apply for an online license, and many of them got it right away. But international operators were also given permission to apply for a license, too, by the Ministry of Interior, which is the regulatory body in charge of monitoring and licensing operators.
Through integration and partnership deals with Mexican brands, many expanded their presence in Mexico, both international operators and world-class software developers and the content Mexicans had at their disposal was unrivaled. However, even though allowed to team up with locally based operators, there's no actual law that either allows or forbids Mexican players from accessing international online casino sites. Leveraging this, millions of Mexicans frequent online casinos, regardless of whether licensed locally or internationally.
This freedom benefits operators and players alike, and that's why Mexico today is one of the most powerful LatAm online gambling markets. The industry was redefined with innovative partnerships between Mexican brands, and today, Mexicans have access to state-of-the-art games to get next-level online gambling experience. Developers like Evolution, EveryMatrix, and BetConstruct, are giving them access to next-gen games from categories like Live Dealers, slots, and other table games Mexicans enjoy playing.
So, even though the authorities tried to make amendments to the law to make the market more stable in terms of who could and who could not cater to Mexicans, no amendments were introduced to this day. That is why you, as a Mexican player, have access to any online casino that accepts Mexicans. You are, of course, advised by the regulator to join licensed sites, but you can join international sites, too. And that’s why you have hundreds of sites at your disposal.
The best part is, that you are free to use any payment method you wish to fund your casino account and cash out winnings from, even bank-related options. Since the country is not against online gambling, but rather pro-online gambling, online gambling transactions are completely allowed. So, why look for fishy alternatives, when you can use a standard bank wire transfer for your deposits and withdrawals?
With it, you get to make your deposits and withdrawals through your bank account, without having to go through getting started procedures with other methods. You can use your bank account, and your native currency, the Mexican peso, to make the most convenient, effortless, and swift transactions. The solution is offered practically across every single Mexican online casino, so you don't even have to limit your casino choices based on whether or not they accept the solution, as most do. Therefore, continue reading to figure out how to use it and why, and you will see that it will be on your to-try list for the next time you wish to make a deposit at a Mexican online casino.
Bank Wire Transfer is popular in these countries
Casinos for Players from Mexico that Offer Bank Wire Transfer
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Using Bank Wire Transfer Across Mexican Online Casinos
There are a few things you need to understand before moving money across international borders, and the most important one is that it hasn’t always been easy. It is no secret that immigrant Mexicans had so many obstacles when they tried to send money home in the past, but thanks to the evolution of banking and technology innovations, things are better now. You have so many alternative solutions that allow you to send and receive money in Mexico, but did you know that you can use a simple bank wire transfer, too, and avoid the inconvenience of having to get started with a new method?
Thanks to these global wire networks, no matter where the casino you joined is based, you can send/receive money in just a few taps or clicks on your mobile/desktop device. Using codes or keys, through global wire networks, a bank wire transfer allows you to send money to and receive money from anyone, as long as you both have an active bank account and online banking profile. What's more, the transaction is processed in your local currency, the Mexican peso, so you don't have to exchange it for foreign currency. One of the most popular wire networks for international transfers to and from Mexico is SWIFT. To send/receive money to or from Mexico, all you need to do is share the code/key of the respective bank accounts. The wire networks take it from there, helping banks identify the codes/keys to process the respective transaction.
The best part is that you don’t need to lift a finger when it comes to the getting started process. As said, you don’t need to register any new accounts; you just have to have an active bank account with any bank in the world. Assuming you do, you just need to prepare your transaction request, enter the needed banking details, including the international code/key, and that's it. Things will get clearer to you once we go through the actual steps for depositing/withdrawing at a Mexican online casino, so just stick with us, as that's exactly what we'll focus on in the following section.
Deposits and Withdrawals with Bank Wire Transfer
We already established that no matter the casino you're eyeing to join, it will probably accept bank wire transfer. If not, you always have hundreds of other options to explore, since most, if not all online casinos that give Mexicans access offer it.
So, what you need to do here is to select a few potential sites to explore, and after you check their offering and decide on the one to join, register an account with it. To fund your player account with a bank wire transfer, do the following:
- Once you enter your player account, look for the Banking page.
- On it, find the Deposits section and locate the little Bank Wire Transfer icon.
- Press it, and a new window will open, where the needed banking details must be entered, including the needed wire code/key.
- Set the amount you wish to deposit and confirm.
- Depending on whether a local or an international transfer, the funds should arrive in your casino balance in a few hours or in up to 48 hours.
Bear in mind that for withdrawals, an additional 48-hour wait will take place, since the operator will need to check your withdrawal request before you get the approval to cash out as much as you requested.
The procedure, however, will be pretty much the same. You will need to select the solution from the list of accepted Withdrawal Methods, enter the needed banking details, and then set the amount you wish to cash out. After you get the approval, wait for the funds to arrive in your bank account.
Conclusion
Mexican online casino players have their options open, both when it comes to casinos to join and methods to use, but one of the most reliable and convenient methods for them is certainly the bank wire transfer. With it, you transact directly from and to your bank account and know that your money is safe as it is processed through the standard banking system with the aid of wire networks.
FAQs
Is online gambling legal in Mexico?
Yes, as of 2004, online gambling is completely legal in Mexico. Plenty of operators have obtained a license to cater to the market, many through partnership deals, so players have the freedom to choose from so many casinos to finally join the one that suits them best.
Can Mexicans frequent international online casino sites?
Offshore sites are not blocked, even though players are advised to join licensed casinos. Many international operators have acquired a license to operate on the market legally, though, so yes, Mexicans can frequent international online casino sites.
Is bank wire transfer offered across many licensed Mexican casino sites?
It is offered across basically all online casinos that cater to Mexicans, except for crypto-only sites. Operators know how convenient bank account-to-bank account transfers are for Mexicans, and that's why they make sure to deliver on the demand and allow them to use this solution for their deposits and withdrawals.
Will I be able to find bank wire transfer on social media?
You might be able to find information on it on social media platforms only if you check out the profiles of some Mexican banks since this is not a standalone product, but a service offered by banks via wire networks. Since there’s no company behind it, but it is a service that your bank offers, try checking out your bank’s social media platforms to see whether any content on it ever gets published.
Do any fees apply for deposits and withdrawals with bank wire transfer across Mexican online casinos?
No, actually, that’s one of the many reasons why Mexicans love using it. Usually, deposits and withdrawals with the solution are fee-free, and rare are operators that charge fees to players who decide to use it.