You will obviously want to withdraw your winnings from the online casino. Time lost while the online casino processes your payout request is opportunity lost. We have listed the Australian online casinos with the fastest cashout times. The actual cashout times experienced by our experts are much less than the times guaranteed by these online casinos.Get Started Learn More
The cashout time is the time from when you make a valid payout request to the online casino to the time the funds are in your payment option and can be used by you. Your payout request could be invalid for reasons like the amount specified exceeds your cash balance or the maximum withdrawal limit. Invalid requests would be rejected immediately. The cashout time can be broken into two components. The first is the time taken for the online casino to process your request. The second is the time taken for you to receive the funds after online casino has remitted them.
It is mainly because of the first component that cashout times vary from one casino to the next. There could be several reasons. Online casinos process payouts of VIP players on preference. If you are an ordinary player at an online casino that is dominated by VIP players then your payouts may take longer to be processed. If there are more players at an online casino then the queues waiting to be processed would be longer and the processing could take more time. The top online casinos factor all these parameters and set up their system to process the payments well before the times committed by them.
When you consider signing up at an online casino, you must also try and evaluate how much time it would take in processing payouts. The industry norm is between three and five working days for most withdrawal options. If the online casino states that it will take more time than that, then it should be classified as a slow paying casino. An indirect way that online casino delay in paying out winnings is setting high minimum withdrawal limits. This means that the winnings lie with the online casino for longer periods. Therefore also compare the withdrawal limits being offered by the online casino under consideration with others.
Many online casinos allow you to cancel or reverse withdrawal requests. The objective is that if you have inadvertently made the request or entered a larger amount than you intended to then you can cancel the transaction. The best online casinos provide a window of a few hours for this. But if an online casino provides a window of two days, it will not process your request till this period is over. And it may tempt you to cancel your request with some incentives.
If an online casino delays your withdrawal by more than its committed period, take it as a warning signal and start looking for another place to wager.
The most common withdrawal methods at online casinos are credit cards, electronic wallets and wire transfers. Due to their inherent nature different cashout times are involved for each. For the same withdrawal method different online casinos would have different cashout times because of the nature of their operations. Therefore this section discusses the issue in a general way. For detailed information, check out the banking section of the Australian online casinos.
Credit cards from Visa and MasterCard are the most common withdrawal option at Australian online casinos. The online casino first processes the withdrawal request. It then remits the money to the credit card issuer. This is done electronically and is absolutely instantaneous. The amount then reflects in your credit card account after processing by the issuer. The first and third steps can take some time for internal processing. In all, online casinos indicate 3 to 5 days for this withdrawal method. Electronic wallets follow a similar process. For Neteller and Skrill, the most reputed electronic wallets, the cashout times indicated by the online casinos are similar.
Wire Transfers use the banking channels and take longer times. The benchmark indication is 10 working days. If the payment is made using a paper check instead of wire transfer, then the postal system comes into play and the cashout times are even longer.