There is no denying the fact that the main reason we all sign up to online casinos is to win! We most certainly do not sign up with the intention of losing, so it is vital that you check the financial matters very carefully. We all want to win and we all want to win big, so when it comes down to the very important stage of submitting a withdrawal, you need to know the ins and outs of the casino’s withdrawal timeframes and it is just as important to know as much information as you can regarding deposits, too. Just as players take their financial details seriously, so do the casinos themselves. You will notice the information they provide regarding financial matters is very detailed and it is important you pay close attention to this detail, as it may just be the key to your success. Try and make some time to read as much information as you can and really familiarize yourself with all the details concerning banking at the casino. Also, don’t forget every casino is different, but each just as important! Do this before you intend to deposit at a casino.
Finding the banking tab at any casino should be quite easy and will normally always be situated in a notable place of the casino website. Terms like banking, cashier, finances and other variants could also be used. If in doubt, you can contact support and they will be able to provide you with a link to all of their banking information. If you can’t see such information, do not dismiss it lightly. Instead, make sure you speak to the support team at that casino and ask them to provide you with the information. Never forget its importance.
There is a lot of information that can be found under the banking section, which will include all the information you need regarding available methods for depositing and withdrawing at that casino. Even though each casino may have very similar methods of depositing and withdrawing, it is important to check the information at every casino you play in, as they do sometimes differ and this will eliminate any disappointment in the future. The average online casino with a good reputation within the industry may display between at least 10 to 15 alternatives for you to make your deposits and withdrawals. There may even be more. Banking methods will include the most popular ones like credit cards, debit cards, a direct bank transfer, also known as a wire transfer, and e-wallets. There may be cheque options and the option to deposit via Paysafe or Ukash, although most casinos will not allow withdrawals back to these methods. Some casinos also allow players to deposit and withdraw via a Paypal account. Additionally, certain casinos may allow the option of Mastercard, although it is important to note that Mastercard is restricted from the ability to be used for making gambling deposits in many countries. E-wallets include Skrill (previously Moneybookers), Neteller, ClickandBuy and others. Generally e-wallets have the quickest withdrawal times and are becoming more and more popular with online casinos.
Now that you know what methods are available, it is important to check fees for depositing and withdrawing funds. If you don’t check these beforehand, you may have a nasty shock. Therefore, always take a few minutes out of your time to ensure easy, hassle-free transactions. It is actually very unusual these days for an online casino to charge players a fee for a deposit transaction. If, however, you do come across an online casino that does impose such fees, we advise you that a fee above 2% is considered to be beyond the average standards and you should take your participation in it into consideration! It is much more common for online casinos to still charge players a fee when it comes to withdrawals and, believe it or not, a great number of casinos do it! If you decide to use a regular mail check, then be prepared to pay at least $30, sometimes $50 and in very rare cases – even more! We cannot emphasize the importance of checking this information before you deposit. Do not check it just before you withdraw; check it before you deposit to avoid any disappointment, as you are bound to the financial Terms and Conditions as soon as you register at any casino. The great news is that more and more casinos are abolishing their withdrawal fees or are just charging very little fees.
There are many technicalities that surround depositing and withdrawing at online casinos, the main one being if you try to withdraw to a payment method that differs to the one you deposited with. If you attempt to do this, more often than not your funds will be returned to your casino balance. In other words, if you have deposited via credit card, than you are allowed to withdraw at least the amount of the deposited sum back to your credit card before using any other methods!
Depositing funds to your casino balance is usually pretty simple and does not involve any waiting times as the deposited sum is usually instantly available in your casino balance to play with. The only times a deposit may take a few days to appear in your account is if you do so via bank transfer. When it comes to withdrawing funds from a casino, there will always be some kind of waiting time and this is where players are caught out. As soon as you submit a withdrawal at any casino, it will go into what is called a ‘pending withdrawal’, meaning your withdrawal is currently being processed at that casino. This may be referred to as “processing period”, “time for processing” or just “processing”. Whilst your withdrawal is in the processing period, the casino takes this time to examine your withdrawal request. They look at your personal details and take the time to carry out all the security measures that are required for the correct and safe cashout. Once the casino is happy that all of these steps have been successfully carried out, the transaction is completed and your withdrawal will come out of the pending process. If you are making your very first withdrawal at a casino, it will always take longer than subsequent withdrawals at that same casino. This is because your personal identity will need to be verified before your withdrawal can be processed. Don’t worry; once this has been done that one time, usually you will not be asked again for documents unless you change your address or debit/credit card. Once your withdrawal has been successfully processed by the casino, it will then leave the casino bank balance and travel to your bank with the very last step being you receiving it!
Here is a rough idea of the kind of withdrawal time frames you can expect to find at a casino. All days are meant as working days, meaning Monday to Friday and not including Saturday and Sunday.
Withdrawal method: e-wallets
Pending period: 0 hours – 3 days
Processing time: 0 hours – 2 days
International transaction: 0 hours – 24 hours
Withdrawal method: credit/debit cards
Pending period: 1- 3 days
Processing time: 1- 5 days
International transaction: 1 – 10 days
Withdrawal method: bank wire transfer
Pending period: 1- 3 days
Processing time: 1- 5 days
International transaction: 1 – 10 days
Withdrawal method: cheques
Pending period: 1- 3 days
Processing time: 1- 5 days
International transaction: 5 – 45 days
It is obvious e-wallets are the fastest way to get your money, and it is not a surprise at all that the number of players using such accounts has significantly increased in the last few years!
We touched on the subject of identification earlier, but it’s time to go into a bit more detail now because this is a crucial part of your all-important withdrawals. You will normally be asked for your documents to confirm your identity after you initiate your first deposit at a casino, but in some cases you may be asked to verify your identity as soon as you register. You will be contacted by the casino’s security department, usually via email, and you will be asked to provide some kind of documentation you can send to them via email, through their own website or, in some cases, by fax. This type of documentation includes (but might be not only limited to):
- a scanned form of the both sides copy of your driver’s license or ID,
- a scanned document from the both sides copy of the used credit/debit card for depositing,
- a copy of a recent utility bill (not older than 3 months),
- or maybe a copy of your bank statement, proving that you have deposited from this account in particular!
If you deposited via an e-wallet, you may be asked to take a screenshot of the account details as verification. The reasons you are asked to send in these documents is because the casino needs to be 100% sure that you are the person that has registered and deposited and the person who is requesting the withdrawal, but more importantly, they also need to make sure that the money is going to be sent to the right person and the right place. While this is a single, one-time procedure, it will have a crucial impact over your casino stay – even a single, one letter difference between the documents and the details you have provided during the registration process can turn into a long and painful soap opera, usually with a devastating result for the player! When registering at a casino, it is vitally important that you check whether all the information is accurate down the very letter, as even one mistaken letter may resulting in you saying goodbye to your withdrawal!
If a player tries to deceive a casino in any way during the verification procedure, they will immediately close your account and all winnings will instantly become void. Try to make the documents you send in as clear as possible and, when taking a photo of a document, make sure you can see all four corners of the paper within the photo. Always hide the middle 6-8 numbers on your credit and debit cards which are on the front and cover the security code when taking a photo of the back of the card. In fact, this can be used as a casino reputation test – absolutely each reputable casino will advise you to hide those numbers when requesting documentation! Any documents that are sent into the casino that are not 100% clear will not be accepted and you will be asked to retake the photos. Making sure the documents are right first time will speed up the withdrawal process.
Finally, we will discuss the minimal and maximum amounts for depositing and withdrawing funds. The average player may not pay much attention to these facts, but it is important to know the minimum and maximum amounts, especially if you are lucky enough to hit the big jackpot. Imagine your dismay if you were to find out you could not withdraw it all because of the maximum withdrawal limit. A good example of a bad casino policy concerning withdrawals is to set the minimal amount, available for cashout to 100 credits, despite the fact that more than 75% of the gambling customers deposit and withdraw less than a hundred dollars! So, once again, compare your opportunities with the given casino limits and do not rush; take everything into a serious consideration, if you do not want to lose money!
To conclude this section, it is important to know every aspect of a casino’s financial details before depositing, as it will make your relationship with that casino a lot more pleasant.
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