Casinos and their withdrawal policy and terms
Withdrawing your money from any online casino is an exciting part of any gambler’s casino play. You want to receive your funds as quickly and securely as possible and, in order to do this, you should always check the casino’s withdrawal policy. This information can be found in every casino's Terms and Conditions. As soon as you register at any online casino, you are bound by its withdrawal policies, so knowing them beforehand could save you a lot of hassle in the long run and could ensure a smooth and stress-free withdrawal process.
There are many different parts that make up a casino’s withdrawal policy, and each is as important as the next. First and foremost, withdrawal policies are in place to protect players against online fraud and this is why you will at most casinos be provided to verify your identity before a cash withdrawal will be approved. Upon checking the casino’s Terms you should be able to find out exactly what documents you will need to send in when you make a withdrawal. It is a good idea to read and to know these documents before you play. When you come to making a withdrawal you can have the documents required straight away to help speed up the withdrawal process. You may be asked to show one or more documents that include, but are not limited to:
- passport or driver’s license,
- a copy of the front and back of your debit/credit card used for depositing,
- and proof of address.
The Terms should also state a timescale in which these documents should be approved. All casinos have different processing times. The time from when you submit the withdrawal up until the casino processes it will also be stated within the withdrawal policy. Additional verification may be required if your withdrawal exceeds a certain amount, which will be stated in the casino's withdrawal terms.
You may also come across withdrawal time-frames for individual payment methods. Players always want to know how long it takes to get their money so in addition to the processing times we mentioned above the withdrawal policy should also state the additional time dependent on your selected method. The Terms will often state that withdrawals can only be remitted to the same payment method where the funds were paid into. What this means is you will only be allowed to request a withdrawal to the same payment method that you used to deposit. By knowing this you can ensure that you use a deposit method before you play that you know you can withdraw back to. You can always check with the casino before you play that they allow withdrawals to your payment method. The Terms may also tell you whether or not you will be able to cancel your withdrawal and have the funds returned to your player account.
Withdrawal limits are another important aspect of a casino's withdrawal policy. As well as stating the minimum withdrawal amounts the policies should also state the maximum withdrawal amounts. Should you be lucky to win a huge jackpot you want to know how fast you can receive your money as most casinos will not allow you to withdraw these in just one instalment. The Terms will tell you whether or not the casino has a daily, weekly or monthly withdrawal limit. It will tell you the exact maximum amount and also the terms in which you will receive your money. Some casinos may allow exceptions in case of progressive jackpot winnings but again this will be stated in the withdrawal policy.
Under the withdrawal policy you may also be told that, before the casino processes your withdrawal, your gameplay will be reviewed for any irregular betting patterns and the casino will often give examples of these. So, for example, bets that are low margin bets, equal or zero will be considered irregular playing patterns for bonus playthrough requirement purposes. If you are found to be displaying irregular betting patterns, the casino will state in their Terms that they reserve the right to withhold any withdrawals and/or confiscate all winnings and bonuses.
Withdrawal fees can also be found in the withdrawal policy. It may be that the casino you are playing in do not charge withdrawal fees and if they don’t they will state that their withdrawals are free of charge. However, if the casino does charge fees, they should specify them in their withdrawal policy or you will be directed to a separate section of the site where you will be able to read the fees. If the casino charges a flat fee as opposed to a percentage fee this will often just be specified in the Terms.
If there are any limitations in regards to player withdrawals, these will also be specified in the casino's withdrawal policy. For example, Visa credit and debit card withdrawals may not be available in certain countries, as well as MasterCard withdrawals.
These are the kinds of clauses you should expect to find in most online casino withdrawal policies. However, as each casino differs, you should always read and be clear of these Terms at every casino you play in. Knowing these Terms could be the key to your success and will ensure a pleasant experience at that casino.