There is anxiety when it comes to withdrawing your online bingo winnings due to the long wait. Players worry that their winnings will take weeks or months to complete or have their transaction rejected by the bingo site operator. To give you peace of mind when thinking about taking home your winnings, we discuss the withdrawal options.
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How Long Do Bingo Winnings Withdrawals Take
Legitimate online bingo sites offer a wide range of payment options with their transaction methods. Here are the most common options available and how long their withdrawal will take.
|Method||Average Processing Time|
|Debit Card||1 to 5 working days|
|Bank Transfer||2 to 5 working days|
|PayPal||Instantly, or within an hour|
|Skrill||Instantly, or within an hour|
|Neteller||Instantly, or within an hour|
|Cheque||At least a week|
By Debit Card
Debit cards are tied to your checking account and have the same process as credit cards. What makes this mode of payment different is how it takes money from your account instead of charging you through credit. This payment option adds a layer of protection that prevents criminals from charging an exaggerated amount of money from the card since its limit is the cash available within the account.
Regarding how long do bingo winnings withdrawals take for debit cards, it can be completed within 1 to 5 working days. This is the average wait time for transferring money from a different payment option to your debit card.
By Bank Transfer
As the name suggests, bank transfer involves moving or sending your bingo winnings directly to your bank account. What makes this option appealing is its simplicity where you do not have to sign-up for any additional service just to take out your online bingo winnings. In addition, a bank transfer is widely accepted among online bingo sites.
Another advantage of bank transfer is its security. Since there is no third party involved in each transaction, your money is secured as it is moved towards your bank account.
What makes players choose a different withdrawal option is the long wait period for bank transfers. Processing time for wire transfers can take anywhere between 48 hours and 5 working days, which can be stressful for certain players.
Considered as one of the popular e-wallets around the world, PayPal is an ideal withdrawal option because of its security. This service is very strict when it comes to picking its vendors, which makes the option a green flag for a trusted online bingo site.
How long do withdrawing bingo winnings take with PayPal? Nearly every transaction is completed in less than an hour. There is barely any downtime when it comes to withdrawing with PayPal.
One major disadvantage of PayPal is its availability where only a few online bingo sites offer this option. These bingo sites include WinkBingo and 888Ladies.
Skrill is a long-running e-wallet service that is much friendly to online bingo sites and other gambling services. This payment option is available across numerous sites and is capable of supporting various currencies.
When it comes to withdrawal speed, Skrill is one of the fastest payment options in the industry. Withdrawals can occur instantly or within an hour.
While Skrill is one of the best withdrawal options in terms of speed and security, it’s not a good choice for its fees. Its processing fees are substantially higher than other available payment methods such as debit cards.
Neteller is an e-payment service based in the Isle of Man. Being an e-wallet service, withdrawals can be as fast as 10 minutes and less than 24 hours. Apart from its availability, Neteller supports all EU currencies to make online bingo accessible to various players.
Fees are the reason to consider a different withdrawal option. Transactions through Neteller are £7.50, which can eat up a large chunk of most online bingo payouts.
One of the oldest withdrawal methods is to send a player’s online bingo winnings by cheque. What makes this option appealing is its disconnection to the internet, which makes it impossible for hackers or anyone to know your private banking information.
Because of various factors, the fees associated with cheques are incredibly higher than credit cards or other withdrawal options. In addition, the speed of this withdrawal option depends on the efficiency of your local post office. You could receive your cheque as early as a week or within a month.
What Can Slow Down Cashing Out Bingo Winnings?
Withdrawing money from a bingo site is generally swift but let’s review what factors can slow down cash-out processing times.
Traditional payment methods are expected to delay your withdrawal speeds. Debit card transactions are usually accomplished within one workweek while checks can last for one to four weeks. You can avoid this problem by considering e-wallets or cryptocurrencies since both options can be completed within an hour or one day.
Abuse of Offers & Bonuses
Online bingo sites or any digital casinos often frown upon multiple accounts since this practice has led to bonus abuses. It is not uncommon for a handful of players to make another account just to try their luck in completing the wagering requirement.
Any player who is attempting to create more than one account is at risk of delaying their withdrawal as well as having their account suspended. Online bingo sites can easily spot players with multi-account by connecting their IP addresses.
Every licensed casino is required to run a background check on their patrons, which involves asking for government IDs and other documents. If there is an issue with verifying a person’s identity, such as uploading a low-quality image of their driver’s license, the online bingo site cannot complete the KYC procedure. This issue will require an operator to stop any withdrawals from a player’s account.
Hackers tend to crack the PRNG of online gambling games by betting in a specific way. Modern online gaming software platforms have a way to find potential hackers by flagging accounts that are betting suspiciously. If you happen to be flagged by the system, whether by accident or on purpose, the operator will delay your withdrawals.
Money Laundering Checks
Anti-money laundering (AML) measures are in place among online bingo sites. Sending a check with a name or business that is a part of a federal government list can flag an account and delay withdrawals. While it is impossible to know if your check can later lead to an issue when it comes to withdrawing your bingo winnings, it pays to use an alternative deposit method such as a debit card instead.
How To Speed Up Online Bingo Withdrawals
Clearing the identity verification process for an online bingo site’s KYC policy can pave the way to a faster withdrawal. One of the best ways to clear this process is to provide one of the qualifying documents such as your passport or driver’s license. It is important to note that these licenses must still be active.
Online bingo site operators are wary of a player’s first withdrawal, especially when a player is withdrawing a quarter of what the gambling website makes in a month. A good rule of thumb is to withdraw half of what you deposited on your first time, which will make your account look profitable for the bingo operator. After your first withdrawal, you can increase the number of your bingo winnings to take out on succeeding withdrawals.
To increase the speed of your withdrawals to less than a day, consider signing up for an e-wallet account such as PayPal, Skrill, or Neteller. While the three services have a significant fee for all transactions, you can ensure a nearly instant withdrawal with an e-wallet option. Cryptocurrencies are another option to consider if fees are an issue. You just need to find an exchange to buy and sell Bitcoin and other crypto coins for this option.
With the right withdrawal options, such as e-wallets, you can instantly receive your bingo winnings. In addition, you can avoid delays to your withdrawal by making sure you provide the right KYC documents.