When online casinos began in the last century, consumers only had two finance options for completing online withdrawals. Visa and Mastercard were the leading players. Today, payment systems have evolved dramatically, and consumers now have various options. Consumers now also use e-Wallets, cryptocurrencies such as Bitcoin, mobile wallets, and bank transfers.
Withdrawal times vary depending on what financial option you choose. For this reason, withdrawal times are essential for consumers, and casinos are now using this as a marketing tool as a new customer will be more likely to sign up with an operator that promises faster, less painless withdrawal times.
In this article, we’ll explore all the available withdrawal times and why they’re of importance to you.
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Online Casino Withdrawal Finance Options for Consumers
Let’s look at all the available online casino withdrawal finance options currently available to consumers at the fastest withdrawal casinos.
Debit, Credit Cards
This method remains popular. It’s best to note that withdrawals can take three to even seven business days to process.
E-Wallets
Many consumers have adopted this method. It’s mainly for the convenience factor. An online casino can process transactions instantly or take up to 48 hours to release your funds, and creating an online account is typically fast and straightforward.
Cryptocurrencies
Completing online casino transactions using crypto is increasing in popularity. Many online operators have adopted this method in order to gain more customers. Crypto withdrawals can be instant, take a few minutes, or can be processed within 24 hours.
Bank Transfers
Bank transfers are the least popular method for completing online casino transactions. This is because your funds can take up to 14 days to process, depending on the operator you choose.
Mobile Wallets
Various mobile wallets are available, which have become popular with the advent of mobile online casino games. Mobile wallets are usually instant or can take up to 48 hours.
Why These Finance Options Are Important to You
So why are these withdrawal finance options vital to you? The importance is that you need to take note that withdrawal times can vary between each method.
Debit, Credit Cards
Many online casinos offer this as a deposit method, and some offer it as a withdrawal method. When choosing bank cards as a finance option, be mindful to check whether the casino also offers it as a withdrawal method.
Typically, this is not the case, and you may encounter some difficulties withdrawing your winnings as you’ll have to register an additional banking method and complete the KYC protocols again before your money is released. Bank transfers can typically be used for deposits and withdrawals.
Additionally, when using these methods, you should be aware of the hidden banking charges from your institution. Banks add a percentage to the amounts that are processed.
E-Wallets
All online e-Wallet transactions offer competitive transaction fees, and online casinos will offer this banking option as a deposit and withdrawal method.
Cryptocurrencies
Crypto deposits and withdrawals will offer you additional anonymity when completing your online transactions. All transactions are completed using your crypto wallet identification number, and hackers will have more difficulty accessing your cash.
There’s also the additional safety of blockchain technology, which enables higher security. Lastly, cryptocurrencies are decentralised. This means that no government or banking institution will have access to or be able to control when you get your money.
Bank Transfers
If you enjoy fast withdrawal processing times, this method is not recommended. Additionally, opting for this withdrawal method requires entering your bank details and can be a lengthy process. Some online casinos have instant bank wires. However, these can still take a few days to process, and you may have to pay additional bank charges.
Mobile Wallets
Mobile technology has enabled everyone to carry their entire lives in the palm of their hands. Mobile wallets such as Google Pay and Apple Pay mobile wallet can be used to complete deposits.
However, only Google Pay and other e-Wallet providers with mobile wallet apps allow for processing withdrawals from online casinos. Additionally, Apple Pay will only function on an Apple device.
Final Take Away
There are various reasons why withdrawal times are important when choosing your financial options at an online casino. It’s recommended that you read the information above carefully and choose the financial option that best suits your preferences and online playing habits.
For example, if you enjoy playing your favourite casino games on your mobile, the mobile wallet option would be your best choice. Alternatively, if you enjoy more anonymity online and want to receive your winnings quickly, we recommend choosing crypto as your banking method.
Lastly, online casinos should not charge you for any online financial transactions. Our best tip for today is that you avoid any operator that does want to charge you fees when you wish to withdraw your cash.
