Understanding Withdrawals in Online Casinos
Nothing is more exciting than withdrawing your winnings after a long day of playing in an online casino. Often, withdrawing is just a click away. But sometimes, depending on the withdrawal option, you need to do a lot more steps.
In this article, we will discuss the factors affecting the steps in withdrawals, how to deal with the troubles that you encounter during cash out, and tips on how to hasten those withdrawals.
Factors Affecting the Withdrawal Process
- Some online casinos have a reputation of encashing those winnings too long. These casinos approve the players' withdrawals, and sometimes it takes longer for them to approve it. In other cases, the operators may approve the cash-out but will delay and will take more than the supposed release date. Therefore, the reputation of the online casino affects the pending time of the withdrawal process.
- Online casinos have different types of withdrawal methods that their players can choose. Sometimes, the options depend on the place where the player lives. For e-wallets, the fastest options are Neteller and Skrill. Online casinos also post the pending times of their withdrawal options to make a heads up to their customers.
Dealing with Withdrawal Problems
The withdrawal method that you choose plays an essential role in the time that you have to wait to get your money, which is why you have to do more research on the type of withdrawal you're going to use.
It usually takes five to ten days before encashing the winnings for customers who use bank wire transfer or cheques. In that instance, you cannot do anything with the long wait since it is already part of the bank's policy and not the online casino.
Another problem with withdrawing in online casinos is the improper documentation during withdrawals. Casino policies require documentation such as the KYC during cash-outs so as not to have any issues if ever you encounter a fraud. However, this will blowback to you once a problem will occur since the casino can say that you entirely had the consent to have the transaction documented.
To prevent this from happening, you might as well not provide the documentation, so the online casino can immediately refund you for any transaction and prevent any chargeback.
Cash-out Pending Time
Depending on the withdrawal method that you used, cashouts will usually take days. It is often difficult to withdraw instantly in online casinos. Whenever you apply for a withdrawal, the online casino must first approve the request. The fastest way to withdraw your winnings is through E-Wallets. It usually takes one to three business days before you can encash your money.
If you used credit cards or debit cards to encash your winnings, you have to wait for three to six business days. The slowest option is the bank wire transfer. If you use bank wire transfer for your withdrawal, you have to wait for five to eight days before you can encash your winnings.