While in theory your winnings should land in your account as quickly as possible at a fast withdrawal casino, there are some conditions which could slow down the process. Here are 3 things you should be aware of before cashing out, and a bonus factor which might speed things up.
❗ Processing Times
While a payment provider might offer instant withdrawals, cashing out is still subject to casino processing times. After you submit a withdrawal, the online casino has to verify the request. This includes a number of checks. The player has to meet all conditions to be able to cash out, including any withdrawal limits and wagering requirements. Also, the gambling site ensures that the amount is being sent to the right person, and that there are no suspect financial activities.
❗ Account Verification
Before cashing out for the first time, you’ll need to send in some documents to verify your identity. This is part of Know Your Customer (KYC) checks, which UKGC licensed casinos carry out to prevent financial crime. Some documents you’d need to provide include a copy of your ID card, a utility bill, and the payment method you’ll use to deposit and withdraw. Ensure that you complete these checks as soon as you join the casino, so you won’t face delays with your withdrawal.
❗ Withdrawal Limits
Online casinos might have maximum withdrawal limits in place, and you’ll need to check the Terms and Conditions to understand what the weekly and monthly limits are. For example, if a casino’s weekly limit is £5000 and you land a big win of £20,000, you’ll have to cash out over 4 weeks. This being said, most casinos don’t follow this for progressive jackpots wins. Usually, no limits apply here.
✅ Faster VIP Withdrawals
When you enrol in a VIP programme at your chosen UK casino, not only do you benefit from high roller bonuses, but also from faster withdrawal times. For example, if you’re withdrawing with VISA and the casino you’re playing at normally processes this transaction in 5 days, you might be looking at a 2-day timeline as a VIP player.