There are many factors to consider when choosing UK online casinos to join and play on such as if they're licensed, reputable and thus trustworthy, how good their game (software) providers are, the variety of payment options they offer, the RTP on their games, if they offer 24/7 support, how frequent and generous their bonus offers are, and the list goes on.
UK players may overlook choosing online casino sites based on how jacked up they are when it comes to processing Payouts.
Online Casino Payouts
One factor that many players overlook, however, is how jacked up UK online casino sites are when it comes to processing Payouts, or which withdrawal methods are the fastest, most reliable and cost-effective. For instance, where most deposit methods allow funds to clear almost instantly, the same cannot be said for withdrawal methods which can vary greatly.
For instance, where credit card cash-outs typically take 2 to 5 business days to clear, cash outs by check can take up to 28 business days to reflect. This is why it's important to have this information before you sign up with any online casino, to ensure you can use the fastest and most convenient cashing-out processes with no unexpected surprises or delays.
As Payout methods and everything associated with them differ, so do Payout policies and processes as per UK online casinos. For instance, some casinos may request you to submit various ID and/or verification documents with your initial withdrawal request. This is done to protect them from money launderers and ensure their players are on the 'up and up.'
You'll normally only be asked to supply this paperwork once, and thereafter all subsequent withdrawals should be quick and easy. Called Know Your Customer (KYC), this process may seem like a hassle when all you want to do is cash out, but the silver lining is that casinos with strict Payout policies are often the most trusted, popular and highly-regarded sites.
Read on to find out how you can avoid frustration and disappointment when it comes to facilitating online casino payouts at the choicest UK online and mobile casinos:
UK Online Casinos with Fast and Friendly Payout Processes
Casino Withdrawal Costs
The costs of making withdrawals will vary based on your chosen withdrawal method and online casino. Where some online casinos charge small fees for withdrawals, others don't. To find out if a casino does or doesn't charge fees, visit its banking or payment page. If not listed in there, try its terms and conditions and if not in there, contact casino support.
UK casinos that charge withdrawal fees typically limit them to 1% of the total withdrawal amount up to a maximum depending on the withdrawal requested. Mr Green, for instance, offers players one free withdrawal each week. Thereafter, it charges 1% on all withdrawals (a £1 limit for up to each £99 withdrawn and a £10 limit for each £100 or more withdrawn).
Royal Panda Casino is a good example of a UK gambling site that doesn't charge you fees if you make a withdrawal using use a credit card or debit card, Fast Bank Transfer, Skrill or Neteller. As such, it's not surprising that most experienced UK online gambling fans seek out and choose to only play at online casinos that don't charge any fees for withdrawals.
Casino Withdrawal Transaction Times
When it comes to transferring funds from your internet casino account to your personal account, if you're in a hurry to receive your funds there are some payout methods you should avoid and others you should favour. For instance, e-wallets (electronic wallets) such as ClickandBuy, Skrill and Neteller usually only take 1 to 2 days for your funds to clear.
Debit cards and credit cards, can take from 1 to 5 days for your funds to clear, along with fast bank transfers. On the other end of the spectrum, checks and regular bank transfers can take up to 28 days to clear. It's important to note that most casinos will only allow you to facilitate withdrawals using the same method you used to deposit, so bear that in mind.
- Neteller - 1 to 2 days
- Skrill - 1 to 2 days
- ClickandBuy -1 to 2 days
- Fast Bank Transfer - 1 to 2 days
- Credit Cards (Visa, MasterCard, Maestro etc.) - 1 to 5 days
- Checks - up to 28 days
- Bank Transfers - up to 28 days
Why Casinos have Know Your Customer (KYC)
Any industry or business involving the transfer and processing of money has various checks and balances in place to ensure firms and their customers are as secure and protected as possible, and online casinos are no different. When you make your first withdrawal request at any particular UK online casino, you'll likely be asked to send through certain documents.
This is a process called Know Your Customer (KYC) which is a way for casinos to verify that you are who you say you in order to combat fraud and money laundering when it comes to cashing out casino payments. This is why you'll only be subjected to KYC when you make your very first withdrawal request. Thereafter, your details should be 100% verified.
The way the KYC process works is that as soon as you make an initial withdrawal request, you'll be asked to send the casino (via email, fax or even post) copies of selected ID and various other documents to verify your name, age and identity. These may include your:
- Driving license
- Birth certificate
- National Identity Card
- Most recent utility bill
- Most recent bank statement
Once you've sent the casino all of the required documentation, you should hear back in a few days as to whether everything is in order or not. If in order, your withdrawal request will be processed without delay, as will all of your subsequent withdrawal requests now that your information has been verified.
If not in order, the casino may ask you to submit further documentation or in extreme cases, block your account and withhold your funds if it finds you to be in gross violation of its terms and conditions. This is why whenever you sign up for a new online casino account you must provide correct and accurate information.
Payment Reversal Times
No gambling establishment, be it a land, online or mobile casino, wants its players to cash out their winnings and walk away. And while none will stop you from cashing out if you so choose, in the case of many UK online casinos they have a 'withdrawal reversal period' designed to tempt you to keep on playing instead of running off to count your winnings.
A withdrawal reversal period is essentially the time period between when you decide to facilitate a withdrawal and when your funds are finally released by the casino and can no longer be 'reversed' and put back into your casino account. Payment reversal times vary from casino to casino but in the United Kingdom are typically in the region of 2 to 3 days.
The idea is that during this 'waiting' period you'll get an itch to gamble some more and then cancel your withdraw request, essentially giving the casino another chance to recoup its losses. While a withdrawal reversal period is standard practice in many mobile and online casinos in the UK, be aware their sole purpose is to tempt you to play back your money.
As such, be sure to check the banking, payments or withdrawal page of your chosen online casino to see if it has a payment reversal period, and if so, how long it's for.
Withdraw limits vary from casino to casino, and include a minimum and maximum amount you're allowed to withdraw in given period - daily, weekly or monthly. In some casinos limits may be increased for VIPs and/or high rollers. Pretty much all UK casinos have withdrawal limits in place to ensure that you can't cash out all of your funds in a single transaction.
This is why we recommend that you investigate a casino's withdrawal limits before you sign up so you know what to expect. While casinos can limit withdrawals any way they choose, hey have to disclose them on their site somewhere, usually in their terms and conditions. In the case of progressive jackpot winnings, your windfall may be split up by the casino.
If you're lucky enough to win a sizeable progressive jackpot, some casinos may pay you out in monthly installments (as specified in their T&Cs) while others may pay you out in full. Whether they do or don't depends on the casino and in many cases their respective online software providers. Microgaming casinos, for instance, pay in full and faster than average.
The point here is to learn all about a casino's payouts and policies before you sign up for a new account and make an initial deposit. This way you'll know precisely how to cash-out whenever you want. All you need to do is spend a couple of minutes reading the UK casino reviews here as well as the casino's payment information and/or terms and conditions.