In the beginning, when online betting was still in its infancy in India, punters had a lot of problems choosing the best way to deposit money into their accounts. But those days are behind us as multiple methods have risen in time. The evolution of funding player’s accounts also brought forth faster ways of making deposits that include online banking.
For that reason, NetBanking has emerged as one of the most popular methods used by punters in India. NetBanking features fast and convenient ways to fund your online betting account, which consequently made it one of the most preferred methods for Indian players.
If you want to know how to deposit money through net banking, you will find the answer in this article.
What Is NetBanking?
NetBanking is a widely-known internet banking facility in India. It is one of the most reliable online payment methods in India as well. There are plenty of banks in the country that accept these types of services.
Transactions are done over the internet, making it substantially easier for users to make transfers. Ease of use is what makes it so appealing to punters. Making fast deposits and withdrawals is also one of the reasons for using NetBanking.
Their app also offers one of the most convenient mobile payment methods and speeds things up significantly.
To open a NetBanking account, one needs to register with their bank first and then create a password and a customer ID.
NetBanking Betting Sites
Seeing how popular NetBanking actually is with the players, many online betting websites have adopted this service. Making it available as a payment method has attracted new users to certain platforms.
If you are interested in finding out which bookies offer NetBanking as a payment method, take a look at some of the picks below:
Are Online Bank Transfers to a Betting Site Legal?
There are always concerns with legality when it comes to payments. NetBanking is perfectly legal. There is no law in India that prohibits moving funds to your online betting account.
However, some limitations may occur when sending bulk sums to companies located outside India. But this is not the case with funding your player’s account. You are simply depositing funds in your account and not transferring money abroad, making NetBanking India perfectly legal for these types of transactions.
How to Use NetBanking?
If you are still with us, then that means that you want to learn more about using this payment method. The process is pretty straightforward and does not differ much from other available funding methods that bookies have.
The main steps include:
- Obtain a bank account.
- Link your bank account with online banking.
- Choose NetBanking as your payment method on the operator’s site.
- Follow the procedure that the bookie proposes to fund your account.
Setting up Online Banking With Your Bank
After obtaining a bank account, you need to link it with online banking. The process may differ from bank to bank, but the usual methods include you putting in a request in person at the bank or doing it over the phone.
Some banks may allow you to do it yourself by going to their website. You only need to follow the proposed guidelines.
Depositing Money to a Betting Site Through NetBanking
If the bookmaker accepts NetBanking as a payment method, you need to select it as your preferred type of payment. Follow the deposit procedure exactly as stated and the funds will appear in your account.
Keep in mind that there may be a deposit limit, so you should check it before you start.
How to Withdraw Funds From a Betting Site With NetBanking?
Cashing out is almost the same with every bookmaker. There may be slight variations or limits on how much you can withdraw, but the entire process is almost the same with every betting provider.
Once you log in to your account, head on over to the cashout section, choose NetBanking as your method and enter the sum you want to withdraw. Follow all the steps and provide all the necessary details to finish.
The processing time may take around 48h. It may also depend on your bank how many business days are needed for the funds to be credited to your bank account. You will most likely not be able to transfer large sums, but you can make multiple smaller transfers instead.
NetBanking Advantages for Punters
NetBanking poses a lot of conveniences for punters in India. There are a lot of benefits to using NetBanking and some of the most important ones are:
- Availability – The majority of prominent bookmakers offer NetBanking.
- Easy to use – Very user-friendly and you can do everything online without ever needing to make a trip to a bank.
- Security – You will have access to the history of all transactions and can feel safe as NetBanking provides exceptional customer care.
- Convenience – Fund your account online without any stress or by using a payment app.