How Long Does it Take to Withdraw Funds at Online Casinos Using Popular Payment Methods?
Familiarity with online casino payment methods and withdrawal times is the key to successful gambling. Knowing all the nuances of withdrawals via different payment methods enables you to enjoy fast cashouts without any issues. We compiled this guide to teach you everything we know about the most popular casino payment options in New Zealand. Stay tuned to find out the most popular options and their withdrawal times.
Overview of Payment Methods at Online Casinos
Be prepared to encounter varying deposit and withdrawal waiting times at different casinos. Influencing factors may be the transaction amount, casino policy, day of the week, and payment method. With this said, let’s take a look at the most popular banking options at online casinos.
Launched in 1998, PayPal is an online e-wallet that adds an extra layer of protection between your credit and debit card and the casino. Casino users need a simple account registration to use PayPal for deposits. To make a transaction with this payment method, link your account to the casino. When you get your money out of the casino, a question that may arise is: How long does it take to withdraw from PayPal? To put it simply, it takes around 24 hours if you are a regular customer.
Security and convenience make Neteller one of the most popular ewallets for casino gaming. To use the Canadian banking service, you need to create an account. Then, you’ll receive a six-digit security code to make online transactions with. Neteller’s 2.5% flat rate per payment only applies for deposits, so you won’t have to worry about it.
Along with Neteller, the secure e-wallet Skrill is widely supported at gambling sites because of its fast transactions. A Skrill registration is required, with only one small drawback: a lengthy verification process. An upside in the aftermath, if you are asking how long does Skrill take to withdraw, is that most transactions happen in about 24 hours. Fees are around 3.99% per transaction but verified users receive a discount.
The convenience, security, and withdrawal support make VISA cards one of the most favoured casino payment options. When you pick it up, a form will pop up asking you to fill in your card number, expiration date, and security code written on your card. Consider that the limits are N$20 minimum and N$5,000 maximum for all payments.
The solid security and hassle-free payment process of Mastercard make it a viable credit card option at casinos. Deposits work fine, but withdrawals are rarely supported with it. When casinos support Mastercard, payouts are rather slow and may last up to five days.
Bank transfer, or wire, is most widely supported for withdrawals but is suitable for large sums above N$2,000 due to N$10-50 fees. SWIFT-less wire transfers have smaller fees, but the waiting time is up to seven days to get the money into your bank account. To use a bank wire, head to the casino wallet and fill out your banking details.
Bitcoin, Ethereum, Litecoin, Binance, Thether, and other casino payment options have become common ways of payment at gambling sites. Granted, you can put questions like how long does it take to withdraw crypto aside because transactions at any crypto casino are instant. To use them, you have to set up a wallet and take note of its address. Also, remember that some blockchain networks will charge you various fees.
Specific Payment Method Withdrawal Times
Before picking one of the payment methods, consider the withdrawal times and the policies of your preferred casino. In the T&Cs of a gambling site, they will clearly state the waiting time. Based on our experience, cryptocurrencies are the fastest method, as their transactions are instant. E-wallets like Skrill and Neteller, in turn, are the most reliable and take around 24 hours, but if the sum is too big, it may consume up to 72 hours. Have a peek at the table below, listing the processing times for each withdrawal method.
|Average Withdrawal Processing Time
|Around 24 Hours
|Around 24 Hours
|Up to 3-5 Business Days
|Up to 3-5 Work Days
|Up to 7 Business Days
Withdrawal Problems and Their Solutions
Not all withdrawals always go smoothly. You may encounter seven main issues with the cashouts. Learn the solutions below and enjoy the fastest casino payouts hassle-free.
One key thing to remember at online casinos is not to use different payment methods for deposits and withdrawals. Often, casinos warn their users that if the payout request is made with a different payment method, they may refuse to pay you your winnings. Therefore, the easy solution is to stick to the payment you’ve used for your first deposit.
Before requesting a withdrawal with your preferred payment methods, make sure you consider the minimum withdrawal requirement, which is usually around N$10. Another thing to consider is the upper limit, which may vary from N$2,000 to N$5,000, depending on the gambling site. Solving this problem is easy: make requests within the specified limits.
Sometimes, when you ask for a withdrawal, you will see a ‘pending’ status. In other words, the casino is reviewing the transaction and should approve it within the specified time if everything is in order. The reasons may be withdrawal frequency, amount, active bonuses, or anything else. To avoid delayed payouts, stick to the rules described in the T&Cs of a casino.
The general rule is to avoid making payout requests if you have not completed all wagering requirements of an active bonus. Most casinos have clear conditions, as part of the bonus terms, that early withdrawals make bonuses void. The risk is you may lose your deposited money as well. Thus, a good practice is not to cash out when you have active bonuses.
More Than One Account
Gambling sites accept only one account per player. If you have registered twice with the same address or telephone, you may be refused a withdrawal, and even worse, your winnings may become void. Thus, it’s best to create only one account at a casino.
Another time the casino may refuse your withdrawal is when you have broken the rules from the general terms and conditions. We always advise players to read everything, including the fine print letters, to guarantee the money would get to your bank account.
Not Completed KYC Verification
At most casinos, you would be asked to pass a KYC identity verification procedure to receive access to the withdrawal function. If you have not completed it at the time of requesting payment, you will be asked to provide documents, or it may be denied. We advise readers to complete the KYC soon after their registration.
Withdrawal Times at Popular Online Casinos
Jackpot City, SkyCity, and Spin are top sites with fast payouts in New Zealand, beloved by gamblers for generous promotions and wide game selection. All three casinos have an average payout time of 24 hours to 76 hours — one of the fastest in New Zealand. If you’re interested in checking out more options with quick cashouts, we have compiled an extensive list of popular online casinos and their withdrawal times for you to explore. All featured sites have been tested by our gambling experts and proved safe and reliable.
Our research highlights PayPal, Skrill, Neteller, VISA/Mastercard, bank transfers, and cryptocurrency as the best ways for online gambling payment for Kiwi players. The average timeframes for each method — 24 to 76 hours. Bank wires take longer — up to seven business days — and are preferable for big sums due to the NZ$10-50 charge. Our recommendations are the e-wallets Skrill and Neteller, which guarantee swift cashouts of around 24 hours.
Cryptocurrencies are an option for people who prefer instant transactions and don’t want to be involved with fiat money. Or you can jump on the bandwagon with the most widespread payment, the VISA credit card. Whatever you choose, remember to stick to the T&Cs of a casino. If you do this, you won’t experience any issues with withdrawals. What’s left is to enjoy top sites like Jackpot City, SkyCity, Spin, and other popular gambling sites in New Zealand with fast cashouts.