How to Deposit and Withdraw at Online Casinos
If you’ve decided to sign up and play at an online casino, you might be wondering what the next step is. Before you can claim that juicy welcome bonus and spin those reels, you will need to deposit. Depositing at an online casino can be daunting if you’re not prepared for it. Fortunately, on this page, we will walk you through the process of depositing at online casinos. We will also guide you through the process of cashing out your winnings.
Choosing Your Online Casino Deposit Method
Before you can do anything, you will need to decide which deposit method you wish to use. Not every casino offers the same options. However, most will provide a handful of these banking options:
- Credit Cards: VISA and MasterCard are the two most common options. However, Maestro and VISA Electron debit card options may also be provided.
- E-Wallets: Skrill, Neteller and PayPal are the big three, although other options may also spring up. Depositing with e-wallets is generally considered to be safer than depositing via bank cards, as you don’t need to hand over your banking details.
- Pre-Paid Options: Pre-paid options such as Paysafecard are the safest options of the lot. They involve buying vouchers which you can use top-up your account directly. However, you are unlikely to be able to withdraw with these methods.
- Cryptocurrencies: Bitcoins and other cryptocurrencies are ideal for players who reside in countries where gambling is generally forbidden, as they offer anonymity. They are also amongst the speediest options around.
- Pay-by-Phone: Some mobile casinos also allow players to deposit via their phone. In this case, whatever you deposit is added to your phone bill. However, the limits tend to be small, and again, you cannot withdraw winnings via these methods.
Check Your Deposit Terms
After deciding which payment option you wish to go with, there are a few other checks you need to make. Most of this information will be available on a casino’s banking/cashier page. Here is a rough guide to things you need to keep an eye out for:
- Check Deposit Limits: Some deposit methods have limits on how little or how much you can withdraw. Check them out before deciding to use a banking option.
- Currencies: Likewise, some payment methods can only be used with specific currencies. Make sure you choose one in your currency, or you may face exchange rates.
- Eligibility for Bonuses: Some bonuses cannot be claimed if you deposit using X, Y or Z. Check the promotions page (and the terms and conditions) to ensure that when you deposit with one option, you can claim a bonus with it.
- Fees and Charges: Most online casinos do not charge fees for depositing. If yours does, find somewhere else to play.
- Transaction Times: Almost all transaction times for deposits should be instantaneous. There may be a few exceptions, but there are rare.
How to Deposit at Your Casino
Now that you know what to look for; it is time to deposit. Here is how you can do that:
- Head to cashier or banking page at an online casino
- Select the payment method you plan on using
- Enter the amount you wish to deposit
- Fill out the e-form details for your chosen banking options, as they appear on the screen
- Confirm the transaction. You may be redirected to a confirmation page to close the transfer.
Choosing Your Withdrawal Method
If you’re lucky enough to land a decent win, you’re going to want to know how to cash out your winnings. The process is quite like depositing (albeit in reverse). Most casinos have fewer cashout options than deposit ones. The most common payment methods are…
- Credit Cards: Withdrawing with these options may see a fee applied to your transfer, and transaction times can take between 1-3 business days to clear.
- E-Wallets: A far faster cashout option; withdrawing via e-wallets often takes up to 24 hours but may take 1-2 days. This option is usually provided free of charge.
- Bank Transfers: Bank transfer withdrawals are usually the most expensive when fees are involved. They also take the longest, upwards of 5 days, sometimes longer.
- Cryptocurrencies: Cryptocurrency withdrawals are the fastest cashout options around, and some can take as little as an hour to clear. Again, you’re unlikely to see fees attached here.
Check Your Withdrawal Terms
Before you withdraw, there are one or two things you need to make a note of. These include:
- Check Cashout Limits: Almost every casino has a minimum withdrawal limit, and many have maximum ones, too. Maximum limits may include daily, weekly or monthly caps. Check what they are before you try and withdraw.
- Fulfil Wagering Requirements: If you haven’t fulfilled the wagering requirements of a bonus, you won’t be able to withdraw your winnings.
- KYC Procedure: You may need to go through a KYC (know your customer) process before you can withdraw. This involves handing over details and documents to the casino, which verifies your identity.
- One Option for All: Some casinos require players to use the same option for both deposits and withdrawals wherever possible.
- Fees and Charges: A handful of casinos may charge a fee for cashing out your winnings. This is becoming rare, though, and the best UK casino sites do not do this.
- Transaction Times: The transaction times often vary depending on the payment method you’ve selected. Find one which offers speedy withdrawals, if that matters to you.
How to Withdraw Winnings from Your Casino
Cashing out your winnings is a very simple process. It is almost the same procedure as depositing. Here is what you need to do:
- Head to cashier or banking page once more
- Select the casino withdrawal method you wish to use
- Enter the amount you want to cash out, and make sure you have that sum on your account
- Fill out the information for the withdrawal method, as you did when depositing
- Confirm the transaction. If all is successful, you should have your winnings within the timeframe listed on the banking page
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