Next to security and convenience, when depositing or withdrawing funds from an online casino account, most players are looking for methods that enable you to get money in your account straight away so you can start playing immediately, and that also let you get your hands on your cash as fast as possible when you want to make a withdrawal. Therefore, the speed at which this can be accomplished is crucial, and can be make-or-break when you’re deciding whether you want to play at a site or not.
When you make a withdrawal request, regardless of the casino you’re playing at, there will always be some processing time, particularly when you’re making a first withdrawal (see more on this below). The time this takes, however, does vary; some will complete a withdrawal request on the day that it’s made (provided that it’s done within business hours), while at others it can take up to 3 working days before a withdrawal request is finalised. That’s why we always recommend reading our online casino reviews and a site’s banking T&Cs so that you’re clear in advance as to how long you can expect to wait to receive your money.
You have to take the payment method that you use into consideration as well, as this will have a significant impact on the speed with which you can get your cash. It’s important to remember that the method you use to make deposits will also be the one that the casino automatically opts for when you request a withdrawal; therefore, if you use a deposit method where this isn’t possible, the casino will generally send you your cash via a bank cheque, which is by far the slowest payout method, so bear this in mind.
As well as the time it takes a casino to finalise a payout, you should also consider the additional processing time by your financial institution on top of this. For instance, using a debit or credit card can mean that it takes an additional 2-5 working days before your funds are available; with direct bank transfer or bank cheque it can be anywhere between 10-14 working days.
This is why we always recommend using a payment method that is not operated by a bank or similar financial institution. We prefer third-party methods, such as e-wallets, pre-paid and virtual cards, or electronic payment systems that are not run by banks, as these tend to be much quicker overall, and certainly give you the fastest payout times. Another tip is to choose your deposit method with the accessibility and convenient of withdrawals in mind, as using different methods for each will slow down considerably the speed at which you can get your cash out.
E-wallets have become a preferred online casino banking method because not only are they easy to use and simple to set up, and come with good levels of security, but they also offer the fastest casino payout times.
Almost all of the sites that we feature accept payments using Skrill, Neteller and EcoPayz, the three most dominant brands in the market (although there are other e-wallet options available), and all of which are noted for their fast payout times. An e-wallet has the added advantage that it acts as an intermediary between you and the casino (or any other online merchant you’re doing business with), which gives added protection and security as you don’t have to share any of your private banking details with them, nor is this then stored.
Setting up an account with any of these e-wallet providers is free of charge, and quick and simple to do, while withdrawing funds to an e-wallet is fast — at most of the sites we feature, as soon as the casino has processed a withdrawal request, your cash is there for you in your e-wallet immediately. In this way, you avoid the slow processing times imposed by banks and other financial institutions, while at the same time also benefiting from additional layers of security.
PayPal is a universal brand with which almost all New Zealand players will be familiar, and many of you no doubt already have an account if you’ve ever bought anything on E-Bay or shopped online. Because it’s such a big global name and has a reputation as the world’s biggest electronic money transfer system, you can be assured of cutting-edge security and safeguards being in place.
Although not universally accepted as a payment method by our featured sites, a growing number of New Zealand online casinos are beginning to accept PayPal for deposits and withdrawals and, aside from its accessibility, the biggest advantage is that it has amongst the fastest payout times.
Once a withdrawal request has been processed by the casino, your cash is available in your PayPal account immediately and can be used straight away. However, if you then transfer money from PayPal to your bank account, you can expect additional processing time by your financial institution of between 1-3 working days.
Credit and debit cards are accepted at all our recommended sites, although there are different conditions applied to each of the major brands.
Both Visa credit and debit cards can be used for making deposits and withdrawals, and for most of these, you can expect there to be an additional processing time of between 3-5 working days by your issuing bank once any withdrawal request has been finalised by the casino.
The case with MasterCard is, however, different. Although credit cards are accepted at the majority of sites for deposits, with debit cards likewise available to use at most, withdrawals are generally not available to either form of MasterCard if it’s issued by a New Zealand bank. We would always recommend an alternative payment method, as if you use MasterCard to make deposits, you will receive your funds when you withdraw via bank cheque, which is by far the slowest payout method.
The same applies to the small number of online casinos where Diner’s Club cards are accepted — this will be for deposits only and you won’t be able to withdraw funds to it.
Pre-paid and virtual cards, along with electronic fund transfer systems, are popular and efficient ways of moving money into your online casino account. They’re a good alternative for those players who don’t have, or don’t want to use a conventional credit or debit card, as well as those who are looking for additional layers of security or enhanced privacy, as you don’t have to share or store your personal and financial information on the casino’s servers.
EntroPay is a virtual Visa card that is probably the most widely-used and accepted pre-paid method at our recommended sites, and can usually be used to make both deposits and withdrawals. It has the added advantage of fast pay out times, so when a withdrawal request has been cleared by the casino, funds are available in your EntroPay account immediately.
PaySafe Card is a pre-paid card that has largely replaced Ukash, which is no longer in operation. This is an easy to use and widely-accepted payment method, but for online casino players there is the distinct disadvantage that you can’t use PaySafe Card for withdrawals, and so you have to fall back on the ultra-slow bank cheque.
POLi is another popular pre-paid method, and you’re not required to set up an account or register to use it — you simply transfer funds via POLi directly from your bank account to your casino account. However, while this is a very convenient method to use for deposits, it is not available to use for withdrawals, and so this needs to be remembered if you’re looking for the fastest casino payout methods.
Almost all of our featured sites accept direct bank transfer (also known as a wire transfer) to deposit money into your casino account, and some enable you to use this method for withdrawals as well (but not all, so check).
The most significant drawback, however, is the time it takes to process transactions going both ways. For instance, it can take a deposit via wire transfer up to 3 working days to reach your casino account, and the same amount of time to make a withdrawal, remembering of course that you also need to add the casino’s processing time on top of this.
There is also the fact that, while direct bank transfers are very secure, they don’t come with much privacy attached. Your dealings with your casino will appear on your bank statements in one form or another, and while for some this isn’t an issue, for many players it’s enough to make them seek alternative, faster payment methods instead.
As described above, if you make deposits using a method that is not also accepted for withdrawals, you will then usually receive your cash in the form of a bank cheque. This method has by far the slowest payout times and should be avoided if at all possible (which is easy enough to do with all the alternatives listed above).
Once your withdrawal request has been processed by the casino (which can take between 1-3 working days), you can then expect there to be anything up to 10 more working days before a cheque is produced. You then need to factor in delivery time, so all up the process can take in the region of two or more weeks — an eternity when compared with some of the instant payment methods available — and so we always recommend using an alternative if you possibly can.
Whenever you make a first withdrawal request, you will be asked to provide ID and so prove your identity i.e., that the person requesting the withdrawal is the person who signed up, that you’re over 18, and that any credit cards you used actually belong to you.
It’s important to know that casinos won’t even begin to process a withdrawal request until they are satisfied as to your identity (this is because of international anti-money laundering laws, and to protect underage players) and so it is in your interests to get any requested documentation to them as soon as possible if you want the fastest payout times. In fact, we always recommend preparing this in advance, so below is a list of what you might be asked to provide (this is not exhaustive, however):