Depositing and withdrawing money at a casino is a relatively easy process. Most players are able to sign up at a casino instantly without having to provide too much personal information as long as they have a personal form of payment that matches their name. When it comes to withdrawing money the process is more or less the same but at times can be a bit slower. Below we look at the factors contributing to why there are variances in speed when it comes to cashing out money at an online casino and what the fastest paying casino sites are in Canada.
To break things down simply, here are the contributing factors to casino payout times:
- Banking
- Casino Policy
- Payment Method
- Amounts
- Date of Withdraw
- Fastest Casino Payout Withdraw Times
Banking
The type of banking method you choose to cash out with affects the speed at which you will receive your earnings. For example, a wire transfer can take up to 2-3 days both on the sending and receiving side to verify and process before it enters your account. This is standard banking process and is irrelevant to the amount of money being withdrawn or the casino issuing the money. On the other hand, an e-wallet transfer can be as quick as one day but will remain in your e-wallet account. A method like this is typically the fastest but should you need to transfer the money into your checking account that will take a few extra days so it really depends on where you are allocating your funding.
Casino Policy
Most casino policies are the same but the main differentiation is in how much a casino is willing to send money per a payment method. For example, some casino sites require a minimum of $100 in earnings to cash out for a payment method such as a wire transfer while others are $50. The same goes for other payment methods. Therefore, if we are considering speed you may be held up at certain sites to play longer until you reach a certain amount, which can botch things up. We suggest using the recommended sites above in order to avoid this because they are bigger brands that have lower minimum withdraw amounts.
Payment Method
As mentioned, one of the slowest methods is a wire transfer and one of the fastest is e-checks. However, this does not mean they are the best. A wire transfer is good for larger amounts because some third-party wallets like Neteller may restrict the amount put on your card whereas with a wire transfer there are no limits. Credit card and debit card transfers take about 1-3 business days and are probably the best medium between getting your payouts fast and directly in the form of cash.
Amounts
Most casino sites have certain withdraw limits because of fees associated with transferring money. A casino cannot afford to pay a $20 wire fee if you are trying to withdraw $5 and therefore set limitations for good reasons. The exact amounts tend to vary and the best way to see which method works best for you is to ask a casino directly. Most likely though you will find a web wallet or credit card transfer to be the easiest and quickest transfer option.
Date of Withdraw
We should note that withdraw times are based on business days so if a casino site displays 1-3 days for a web wallet transfer it is referring to business times.
Fastest Times
If you withdraw over the weekend and the process begins underway by Monday, you most likely will receive payment by the end of the following week, if not sooner. Plan ahead accordingly and rest assured payment will come but that it might vary according to your preferred method.
How to Speed Up the Payout Process
In some cases a casino site will want to verify yout information in order to make sure the transfer goes more smoothly. They may ask for a utility payment copy or a copy if your passport in order to ensure your name matches. This is done for security reasons so that if a bank has any concerns the casino banking department can notify them the transfer is legit and to make sure there are no mistakes such as spelling errors when it comes to listing your name with the transfer.
We recommend having a copy of one of some sort of verified document with your name on it in order to be safe and speed up the process. This way if a casino asks for it you can submit it right away without having to wait until you get back home, thus delaying the process by another business day.
Fast Payout Sites
There are many casino sites out there but the best ones are the ones that have a balance with game variety, bonuses and payout times. And for those reasons we choose the above-mentioned casino sites such as Royal Vegas, which Canadians have been using since the site’s establishment in 2001. One of the most widely played games at this casino is blackjack, both in tournament and live dealer forms, and the casino boasts up to $1,200 in free bonuses for new players.