Withdrawal Methods
It can be difficult to know what the fastest payout method is for different online casinos. That’s because different casino sites often have varied withdrawal timelines. Fortunately, I took the liberty of researching the fastest payout method according to reviews from players and terms and conditions of online casinos.
Take a look at this table that shows the timeline for different withdrawal methods. Online banking users, as well as credit and debit card users can take advantage of it if they are looking to switch to a quicker option. The secure online casino you partner with should feature at least some of these payment methods to ensure the fastest withdrawal processing times.
PayPal
PayPal is perhaps the most well-known e-wallet in the online casino industry and beyond. This e-wallet platform’s withdrawals are both simple and fast, with the process being even faster if you put your initial deposit using PayPal. There are several pros and cons of using PayPal as your preferred deposit and withdrawal method.
Pros
- Well-established and trustworthy
- Instant deposits, often instant withdrawal times
- User-friendly sign-up process
- Minimal fees for withdrawals or deposits
Cons
- Transaction limits apply
- Some online casinos don’t accept PayPal transactions
Skrill
Skrill is yet another popular e-wallet for online casino players. It’s widely accepted by some of the most popular online casinos. With Skrill, you can easily make deposits and withdrawals just like you would with PayPal. I’ve included pros and cons for you to consider based on research on this popular (and growing) e-wallet.
Pros
- Financial information stays secure
- Accepts worldwide currencies
- Widely accepted in casinos
Cons
- Customer support response times take days
- Strict limits and verification process to increase limits
Neteller
Neteller has gone through several changes in ownership and overall since its launch in 1999. Today, Neteller is one of the largest e-wallets online casinos depend on, and for good reason. Here are some of the benefits of using this diverse e-wallet for your withdrawals.
Pros
- Highly secure like Skrill and PayPal
- Easy sign-up process
- Instant processing of withdrawals and deposits
Cons
- Less known and used than Skrill and PayPal
- Fees up to 7.5%
Cryptocurrency
Virtual currency is becoming increasingly popular in the online casino world. In fact, some casinos now only accept cryptocurrency for withdrawals and deposits. While some players find this option a bit unique and somewhat intimidating, there are some worthwhile benefits to using cryptocurrency for your online casino transactions.
Pros
- High level of anonymity and security
- Flexible conversion to different currencies
- Deposits and withdrawals almost instant
Cons
- Very volatile in terms of value
- Not accepted by many online casinos compared to traditional e-wallets.
Play+
Play+ is one of the most unique e-wallet options in the online casino realm. This prepaid card offers a secure and convenient way for players to fund their online casino accounts, without having to give out any personal banking information. Want to learn more? Check out these pros and cons while doing some digging on Play+ for online casinos.
Pros
- The account is FDIC Insured
- Easy to fund account using debit/credit card
- Prepaid card automatically available to fund with cash
Cons
- Limited deposits and withdrawals without physical card
- Doesn’t accept all methods, like American Express, to fund account
VIP Preferred
E-check options like VIP Preferred offer a convenient and secure way for players to fund their online casino accounts directly from their bank account. This can be a great option for those who aren’t comfortable using credit or debit cards, or for larger transactions.
Pros
- Can accommodate larger withdrawals and deposits
- Funds go directly to your bank account
- No fees charged for using this method
Cons
- May take between three to ten business days
- Bank information including account and routing number must be shared with casino
Visa/Mastercard Credit and Debit Cards
Visa, Mastercard, and other credit and debit cards are by far the most widely accepted payment methods by online casinos. With so many people having a credit or debit card, knowing the benefits of using one can help when deciding what withdrawal method to use.
Pros
- Widely accepted at almost all online casinos
- Automatically links to bank account
- Processed almost instantly
Cons
- Bank information fully exposed to online casino
- Possibility for overdrafting when depositing
Bank Transfer
Initiating a bank transfer can be one of the simplest methods for casino players to access their winnings. High rollers can enjoy higher limits as well, but there are some drawbacks and benefits to using bank transfers for online casinos.
Pros
- High maximum limits on withdrawals
- Widely accepted at online casino sites
- Minimal fees or flat rate fees
Cons
- Longer wait time for withdrawals
- Different banks could delay the process