General payment processing guidelines
It is important to know and understand a casino’s withdrawal policy when playing for real money. Many casinos only process withdrawals at a set time of the month, have maximum and minimum limitations on how much you can withdraw. Some casinos may further require proof of ID and funding authority before releasing any funds into your account, so make sure you read the terms and conditions before depositing any money.
When it comes to processing the withdrawal, the casino will first check to make sure that you are allowed to withdraw any funds. This could include checking any paperwork and ensuring that any and all wagering requirements have been met. Some casinos will request that the player state which withdrawal will work best, while others will enforce a particular withdrawal method. Some casinos can still send money to your credit or debit card, although this is becoming rare as many banking institutions block gambling transactions. If this method is available, the funds will usually be available within three to four business days.
It is worth noting that some online casinos run withdrawal scams in a bid to keep players' money. Many casinos add a 'Pending Period' to withdrawals, which means you wait for your funds to be available in your account, sometimes up to seven days depending on the banking method being used. During this pending period, there is the option to cancel your withdrawal, at which point the funds go back into your account, and you can use it to continue playing. This is what these casinos want you to do as the money goes back to the casino and they never actually pay out.
Specific payment methods and inherent delays
E-wallets are becoming the chosen method of payment at online casinos for both deposits and withdrawals. E-wallets like Instadebit are constant fixtures at online casinos because it is one of the easiest and safest online banking methods available. You can fund your e-wallet in a variety of ways before quickly and easily transferring the money into your casino account. This requires no checks, no disclosing of personal information and no fees.
Players who prefer the more traditional route can still use methods like bank transfers and cheques, which are available at a few casinos. However, this is by far the longest and most expensive route, with cheques known to take up to five weeks to arrive. Courier cheques, while faster, are usually more expensive. Also note that these types of payments are more likely to be restricted to deposits or withdrawals only.
A good idea would be to use country-specific banking methods, should they exist in your region. As Canadians, we prefer options such as virtual wallets like Instadebit and bank transfers like eCheck. Vouchers available for PaySafeCard are a convenient option and are available at your nearest Canada Post or at many convenience stores. Nearly everyone has a PayPal account but not many casinos offer it as a payment method as there are many country specific restrictions. We are here for you though as we do provide a list of the top PayPal casinos available specifically for Canada. Again, you should check that your favourite casino offers your banking method of choice and that they offer both deposits and withdrawals for that method.
How to find fastest payout casinos and what to watch for
Most online casinos have been focusing on speeding up their withdrawal processes to attract new players to their site. With technology increasing at an astonishing rate, it is only a matter of time before instant withdrawals are available, and online casinos need to keep up with the times. Many players are looking to online casinos with the fastest payouts as the best platform at which to play.
Many popular and trustworthy online casinos are known for their fast and efficient payouts. These casinos will always feature a variety of reliable banking methods to choose from, including bank transfers, e-wallets like Instadebit, credit and debit cards as well as cheques. Because these casinos have the latest software and advanced banking facilities, other online casinos are realizing the value of faster withdrawals and following suit slowly but surely. Some of the fastest payout times can range from instantly to a couple of hours, which is fair considering that you are waiting for money that is owed to you.
While casino players may have various preferences when it comes to gameplay, casino atmosphere, gaming options and more, what they all have in common is they require fast and easy payouts. What you should remember is that the speed of payouts sits on the shoulders of an online casino, and they do have the power to improve withdrawal speeds as they see fit. Therefore, players should be wary of casinos that offer unnecessary long waiting periods as these could be rogue casinos look to scam players out of their payouts.
For peace of mind, ensure you play at casinos that feature the following banking methods as they are proven safe and reliable with minimal waiting period:
PayPal - PayPal is not available at all online casinos, but is definitely one of the fastest forms of withdrawals and deposits as you can expect the money to appear immediately into your account.
e-Wallets, especially Instadebit and ecoPayz - These are two of the most popular e-wallets available and are considered one of the most convenient and fast methods of payment.
Paysafecard - Paysafecard gives you the flexibility of being able to pay and receive funds using a 16-digit Pin number. Funds can be easily withdrawn from your Paysafecard account and deposited into your link bank account in a fast and efficient way.
The best online casinos will offer first class services and facilities in all departments, including extensive game options, excellent customer service, generous welcome bonus, high percentage odds, lucrative promotions, as well as reliable banking methods and fast payouts. Players must make sure that their desired online casino meets all these needs and more before signing up and, most importantly, depositing any money into the casino's account. Gambling at online casinos should be a fun and rewarding experience, and minimal time should be spent stressing about the status of your funds. It is important to realize that online casinos are in control of your payouts, and if a withdrawal period seems too long, there are plenty of other gambling platforms available that have more reasonable time periods and more reliable banking methods. Be sure to do your research, making sure an online casino ticks all the right boxes before making a commitment to the casino.