How to differentiate between good and bad casinos when it comes to payments
Picking an online casino to play in is never easy, with there being so much choice at the moment and one of the most important key areas that gamblers look for is their withdrawals. Every gambler wants to be able to receive their winnings and most would like them quickly, safely and efficiently. There are a few areas that will allow you to differentiate between good and bad casinos when it comes to payments and we will try to explain these to you in this guide.
To start off, you should always check the withdrawal pending times at every casino you play in, because these can sometimes be a pretty good judgement of how the casino works. These days there are a lot of online casinos, and certainly there are more and more reputable ones, which have very low pending times. For example, some casinos are even offering their players withdrawals that are processed on the very same day within just a few hours, while others are offering withdrawals between 24-48 hours. Playtech casinos are knowing for having slightly longer processing times with them lasting up to 4 days.
However, if the casino you are playing in states a longer processing time than around 7 days you really need to do your homework on this casino before playing. Make sure before you play the casino’s pending time for withdrawals is one that you are comfortable waiting for. Finding out once you have made a withdrawal that the pending time is up to 7 days could be extremely frustrating, as well as disappointing, after all the excitement of actually winning.
You may want to look for a casino that allows large withdrawal limits. Most casinos will place daily, weekly or monthly limits on their withdrawals and, if you were to win hundreds of thousands pounds, you want to be able to withdraw this as quickly as possible. There are many casinos that place maximum monthly withdrawal limits between 5,000 – 30,000. However, if the casino only allows you to withdraw less than the lower of these margins per month, it may take forever for you to receive your money. Every gambler is different and has their own requirements in what they look for, but good casinos are generally those that have these increased withdrawal limits. Reputable casinos are happy to see their players winning, contrary to popular belief, and they want to be able to pay you just as much as you want your winnings.
A good casino will also offer you multiple withdrawal methods. Most online casinos will have a number of different withdrawal options for you to choose from, and whilst your withdrawal is based on whichever payment method you used to fund your account, there should be multiple methods for you to choose from in the first place. If the casino you want to play in is only offering one or two payment methods, you should certainly take a look around, as there are plenty more that cater to a much wider market than this.
A good online casino will have a mix of credit and debit card options, e-wallet options, as well as bank transfer methods, prepaid cards and quite often cheques, too. When it comes to the processing times of each individual payment method, this is usually down to the issuer of the payment method. Once the casino approves the money and sends it to your payment method of choice, they can only give you a guideline of how long it will take until it arrives with you. However, checking that these processing times are not too high is a good idea. For example, withdrawals that are often sent to an e-wallet account like Skrill or Neteller are usually instant, once the casino has approved the withdrawal.
You will also run into withdrawal fees at some casinos. But be careful with this one. No one likes to pay fees on their withdrawals. However, do not think that because a casino charges you a fee for withdrawing that it is a bad casino. On the contrary, some of the most reputable online casinos have now imposed fees on their withdrawals. Whether it be on every withdrawal or only once you have exceeded your free withdrawals limit, fees have to be paid. For those casinos that do charge fees you should expect to pay around 2% with the exception of a cheque and wire transfer which could be a lot more. If you are playing at a casino that charges significantly higher than this, you should maybe reconsider your options and find a casino that does not charge so highly. After all, if you are making multiple withdrawals, these fees will end up taking a big chunk out of your hard earned winnings.
Need we say that withdrawing is an extremely important part of your experience? Therefore, taking a few moments of your time before you play to do your research will help you have an enjoyable experience if nothing else.
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