It is not a good practice to leave all your winnings at the online casino for wagering in the future. You should withdraw your winnings, especially if you have made a big hit. This section will guide you through the withdrawal process, explaining the critical issues like banking options, processing times and reverse withdrawals.Get Started Learn More
When you sign up at an online casino you will be asked to send copies of documents like passport or driver license as proof of your identity and address. This is a safety measure to ensure that no one else is using your name to wager at the online casino. You will be allowed to make deposits and wager, before you send these documents but you will not be able to withdraw funds. Therefore before you make your first withdrawal make sure that you have complied with this condition.
In order to make a withdrawal, you log in at the online casino using your user ID and password. You select the Cashier (Banking) tab from the menu bar and then select the Withdrawal option. All the eligible withdrawal options will be displayed on the screen. You have to select the option used for making deposits and if that is not available then select check payment. The amount that you want to withdraw has to be entered along with other information that will depend on the option chosen. You follow the steps mentioned on the screen to complete the process. Your withdrawal request will be registered with the online casino and given effect after the processing is complete.
The broad policy at all Australian online casinos is that you make withdrawals using the banking option selected for deposits, if that option allows withdrawals. Otherwise you will receive your payment through a check. Hence the banking option has to be chosen after considering both deposit and withdrawal requirements. Both electronic wallets and wire transfers support deposits and withdrawals. Most Australian online casinos support withdrawals to credit cards, but it is better to confirm this with customer support. POLi does not support withdrawals.
The time taken for you to receive your funds is an important factor and is discussed in detail later. The cost of withdrawal is the second factor you must consider. Withdrawal to credit cards is free. This amount will be offset against your credit card bill and will usually not be available to you in cash. Withdrawal to electronic wallets is free, but withdrawing funds from your electronic wallet has a cost attached. Withdrawal using wire transfers has a cost attached.
Withdrawal limits imposed by the online casino and the banking option provider also needs to be considered. In general credits cards and electronic wallets will have lower minimum and maximum limits and are more suited for low rollers. Wire transfers and checks are more suited for high rollers.
The period between when you make your withdrawal request and when you get access to the funds can be split into two components.
The first component is the time taken for processing by the online casino. The online casino leaves a window for reverse withdrawals, which are discussed later, and begins processing only after that. The processing involves the usual checks like making sure that the right person is getting the right amount. The time that online casinos take for the processing varies and depends on the backlog at a given time. Also withdrawal requests from VIP players are processed on priority. The best online casinos commit cautiously and deliver ahead of commitment. You can factor in a time ranging for 24 hours to five days.
The second component is the time taken by the banking option to deliver the payment once it is received from the online casino. Credit cards and e-wallets conduct direct electronic transfers, which are instantaneous. Wire transfers can take a few days because one or more intermediate banks are involved and the process may have to be initiated manually at each stage. Paper checks take the longest. The online casino prepares the check and posts it, the postal service delivers it to you, you deposit it in your account, it is sent for clearing and then you get the funds.
In simple terms, reverse withdrawal refers to the cancellation of a withdrawal request. Online casinos give you a certain period in which you can cancel your withdrawal request. They will start processing your request only after this period has expired. A reverse withdrawal works as follows. Say you have AU$550 in your account and you make a withdrawal request of AU$500. Immediately on receipt of the request your balance will be reduced to AU$50, even though the online casino takes no action on your request. You put a reverse withdrawal request within the stipulated period. Your account balance will be restored to AU$550 and your original withdrawal request will be cancelled.
The purpose of reverse-withdrawal is to give you a chance to rectify any error you might have made in the withdrawal request. Suppose you wanted to withdraw AU$60 and keyed in AU$90 by mistake, you can reverse your withdrawal request and make a correct new one. Some online casinos began to keep inordinately long periods for withdrawal requests. The underlying idea was to give players a chance to use up their remaining balance and then cancel the withdrawal request so as to get more funds for wagering. The best online casinos restrict the period for reverse withdrawal to the minimum, say 24 hours.