Online casino banking options are split into two categories – deposit methods and withdrawal methods, and contrary to popular belief, not all payment methods can be used for both. What this means is that your favorite deposit method may not necessarily allow you to make online casino withdrawals, and you should be aware of this when choosing your banking options.
types of casino withdrawal methods
Just like their deposit counterparts, there are many different types of casino withdrawal methods, and you must select those that best fulfill your financial requirements. Note, however, that some can only be used by players that live in certain countries or territories.
The most common categories of withdrawal methods are (from fastest to the slowest) e-wallets, credit cards, pre-paid cards, wire transfer and checks. While we have indicated average processing times, actual processing times may vary.
While e-wallet casino deposits are instant, e-wallet withdrawals can take between 2 to 3 days, and are renowned for being reliable. Click2Pay, Neteller and Skrill (Moneybookers) are popular deposit and withdrawal methods.
Credit card withdrawals can take up to 3 days to clear. While unusual for most people to transfer money back into their credit cards (which is different to paying off a credit card), it is a common practice amongst online casino players. MasterCard and Visa are the most used.
Depending on what pre-paid card you are using, withdrawals can range in processing time, although the average can be anything from 1 to 5 working days. PaySafeCard, EntroPay and Ukash are all popular withdrawal methods, which are also reliable and trusted deposit methods.
Although not one of the more popular online casino withdrawal methods, you can cash out your casino funds via a wire transfer. You can transfer funds directly from your casino account to your personal bank account, eliminating any “middlemen.” Processing time can take up to 5 days.
Even in this electronic age, checks are still a popular withdrawal method amongst many casino fans. But with this method you will be at the mercy of casino country’s postal system as well as your own, which means delivery could take as anything from a few days to a couple of weeks.
To find out which online casino withdrawal methods match your cashing out requirement the best, see our reviews on all the best withdrawal options.