Deposits and Withdrawals
Before you can place a bet on a casino game, you’ll need to transfer some funds. That’s all a deposit means — picking a payment method and adding cash to your casino account. A withdrawal simply means to transfer money back out of your casino account into your bank or e-wallet.
Here are a few key points to bear in mind when it comes to online casino payments.
Casino Processing Times
The time it takes to receive your withdrawal request depends on a few things: first, the method with which you’ve withdrawn the funds; second, the casino’s own processing times; and third, the processing time of the payment vendor.
The fastest payout online casinos make a commitment to shorten their processing times, and most will do so within 24 hours. Once the request has been processed, the speed with which you receive your winnings is entirely dependent on the payment method. Some, like e-wallets, are fast, while others, like debit cards, are slow.
Bear in mind that the withdrawal process is also hindered if you want to forward winnings to a different banking system. For example, if you’ve made a withdrawal request to an e-wallet, you’ll have the choice of keeping the funds in your digital wallet or sending them on to the wallet’s linked bank account. If you choose the latter, you might have to wait a few days for the money to appear in the designated account.
KYC (Know Your Customer) Checks
As is the case with online sports betting sites, it’s a legal requirement for licensed online casinos to perform Know Your Customer (KYC) checks before allowing players to deposit funds, so not completing them will certainly slow you down. The process is carried out to confirm your identity, and that you haven’t previously chosen to self-exclude from gambling. KYC checks are also carried out to prevent criminal activity such as money laundering.
Your casino may be able to automatically verify your account by checking database records, but if not you’ll be asked to provide identity documents — either a passport or government-issued driving license, as well as a recent utility bill or bank statement with proof of address — in order to complete the verification process and deposit.
You’ll usually complete KYC checks as part of the sign-up process when you open a new account, but certainly before making your first deposit and playing real money casino games.
If you have any questions about the verification process, it’s worth contacting the casino’s customer support team for extra clarity.
It’s only natural to want to receive your casino winnings as soon as possible, it’s your money after all. Some banking methods – particularly debit cards – can be very slow in processing payouts, often taking up to five working days. But at an instant withdrawal casino, casino players will generally be able to get their hands on their winnings as soon as they request them. At the very least, fast payout casinos will deliver funds no later than 24 hours from the request, even on weekends.
However, bear in mind that withdrawal times will vary depending on the payment method you use. Casinos that accept cryptocurrencies are usually among the fastest, but this is still a fairly niche withdrawal method. For most casino players, e-wallets like PayPal, Neteller and Skrill will tend to offer the fastest payout times.