Minimum Withdrawal Casinos
There’s one thing that a lot of us don’t check when signing up to an online casino. Can you guess what it is? Surprisingly it’s the deposits, withdrawals, how liberal they are and how often we can do both. Which when you think about it, is crazy! This is your hard-earned cash we’re talking about! But funnily enough, we check the deposit and withdrawal methods but not always the frequency at which we can do both, how much the maximum is on each ‘swing’. As you’d know online casinos are happy to accept your deposit without so much as a second glance, often regardless of how small the amount is that you are depositing. We often assume that we can withdraw the same minimum amount, unfortunately as some of you may know from previous experience this isn’t always the way that the cookie crumbles.
Many online casinos have a minimum withdrawal amount that quite often is more than the deposit amount, the figures vary between online casino sites however it can be as high as 4x the minimum deposit amount, on other online casino sites it can be more than that even. Obviously for high-rollers and players with a higher limit this doesn’t make much difference. Generally because high rollers are depositing so much into their account that the withdrawal minimums don’t often cause them concern.
Which is great for them. But what about the lower limit players? Researching and knowing your stuff about minimum withdrawal casinos can make all the different to customer who have limited cash in their bankroll and are interested in not only increasing that bankroll but are also looking to win some bonuses.
Now it may seem at this point that high rollers and big depositors have all the perks whilst the little guys are left out in the cold. That’s certainly not the case, those high rollers have their own terms and conditions that affect them. When these big players go for the maximum bets on tables or the huge spins on slots, hoping for big wins and large pay-outs. Which sometimes they do get, however when they win big they often have to wait several weeks to get their withdrawal. This boils down to an online casino’s maximum withdrawal limits, and also the number of withdrawals they will allow their customers to make within a certain time frame.
Fear not though, if you’re in the market for an online casino that allows smaller withdrawal amounts, there are plenty to choose from.
Why do casinos have a minimum withdrawal limit?
There are a number of reasons why casinos implement withdrawal limits. The main one of course is to protect themselves, lets face it no online casino wants to see you logging off with a giant wad of cash in your back pocket. They put limits in place so that you hang around and keep playing their casino games.
Also withdrawal limits are in place so that casinos aren’t bankrupted by a bunch of super lucky players who happen to playing and winning at the same time. This is paramount if you’re an online casino offering those massive progressive jackpots. You know the ones, where the jackpots can be tens of millions of pounds. A lot of players aren’t aware, but many online casinos have terms and conditions in place that state they will pay jackpots pay-outs in monthly instalments.
So how do you find out what the withdrawal limits are? Some online casinos have them readily available in the Cashier or Banking tabs on their websites, however if you can’t find them there simply head to the terms and conditions and they should be easy to find.
It’s important to know that whilst most online casino have minimum withdrawal limits, these limits can vary between them. For instance, some online casinos might have daily limits, whereas others as weekly or monthly limits. It depends on the online casino you choose to sign up to, check before you register.
What you need to know about withdrawal limits
You already know now that most online casinos have withdrawal limits in place. You also need to know that limits may also vary depending on which withdrawal method you choose. And these limits can apply to both the minimum and maximum amounts of withdrawal. In fact, there are some online casinos were you’ll come across limits based on a daily, weekly or monthly basis which will depend on the minimum withdrawal you are trying to make.
The point we are trying to make is that online casinos can reserve the right to limit withdrawals full stop. The minimum amount, the maximum amount and the frequency of withdrawals. The information relative to the online casino that you are thinking about joining or already have joined is all available in the Terms and Conditions page. We recommend that you check the limits preferably before you sign up to any one online casino.
Minimum withdrawal limits at online casinos
Across the online casino industry minimum withdrawals tend to be very similar. Many players overlook the minimum withdrawals and tend to more interested in the maximum withdrawal limits. Having read this far you already know that minimum withdrawal limits apply with most online casinos, and most of those have a minimum deposit requirement as well; which can be anything from £5 to £10. It’s worth mentioning here that withdrawal methods such as cheque and wire transfer tend to have a higher minimum withdrawal limit than other methods such as e-Wallets.
The industry average for withdrawal limits is £20, of course there are exceptions to the rule and there are some online casinos that have limits of £10. It’s important to note here that it’s the casinos themselves that set their own limits, and they vary depending on the casino and the casino focus. For example an online casino that focuses on live dealer and table games might have a higher limit than an online casino that focuses more on slots.
How to withdraw the minimum amount from an online casino
The great thing is that it’s an easy process and works exactly the same way as if you were withdrawing above the minimum amount. Simply log into your account and head to the Banking or Cashier page and select the withdraw button or tab. Enter the minimum amount you want to withdraw and choose you withdrawal method.
Again, we can’t stress how important it is to read through and understand the casino’s withdrawal policy and procedures. It’s never going to be more frustrating than not being able to withdraw you winnings. Policies vary between casinos and can include a verification process as well as using an accepted withdrawal method.
Can the same banking method be used to deposit and withdraw casino funds?
This is a tricky one to answer and it depends on the payment method you choose and the online casino you’ve signed up to, generally speaking though the answer is yes. Most online casinos allow withdrawals and deposits to made with the same banking method, credit cards like Visa and Mastercard are a good example of this, also e-Wallets are becoming increasingly popular and nearly all reputable online casinos will offer deposit and withdrawal into an e-Wallet account.
How long do withdrawals take?
Again this one is a bit tricky to answer and depends on the online casino you’re registered with and the withdrawal method you are using. Withdrawals can take a couple of minutes to process or a week. Wire transfers as a general rule take much longer than e-Wallet withdrawals. It’s worth mentioning here that e-Wallets are not subject to the verifications and security protocols that other withdrawal methods are put through.
Is there a best minimum withdrawal method at online casinos?
You may have noticed in the last couple of paragraphs that we mention e-Wallet a bit. They are the best and most popular of the withdrawal methods, particularly the minimum withdrawal method. Some industry leaders in e-Wallets are PayPal, Neteller and Skrill. These guys boast the fastest online casino pay-out times, they have second-to-none security and they are so basic to use and easy to get the hang of. If they are just not your thing, credit card would be our next top pick and bank transfers after them.
Why would a withdrawal be declined?
We understand that it’s frustrating when this happens, but generally there are pretty good reasons why an online casino has rejected your withdrawal request. Lets break those down for you and hopefully help you avoid them in the future.
The first one that comes to mind has to do with promotional offers and bonuses. Most players are quick to jump on those bonuses, cash backs and free spins. But more often than not players forget to read the terms and conditions, specifically the wagering and withdrawal requirements attached to these offers. Failure to meet these requirements usually results in both your winnings and whatever bonus credits you have left being voided from your account.
The second one is a lack of verification of your account. Most online casinos are simple enough to join. Name, address, phone number, email address and you’re done. Enter in the deposit details and you are free to play. However the withdrawal process always begins with a verification request which is generally a little more involved than the sign up one. Like we’ve mentioned there are ways to get around this, by using an e-Wallet account.
Online casino withdrawal terms and conditions
We understand that trawling through the terms and conditions on your preferred online casino is boring and in a perfect world, online casinos would have withdrawal minimums that were the same as the deposit minimums.
However we also understand that casinos need to have those differences in the withdrawal and depositing amounts and that those differences depend on the different banking methods. We can’t fail the casinos that we review that have differences between their withdrawal and deposit minimums. It’s the industry norm, and besides that we’d have to fail nearly all the casinos we review.
Casinos set their own withdrawal minimums and they can vary from £10 – £30. Just like the withdrawal times can vary between the method you use, from a few minutes if you are using an e-Wallet to up to 7 working days for a cheque, the average time across the industry is 1-2 working days. We’ve noticed that if you request less than the maximum withdrawal amount at an online casino you’re likely to be paid quicker than if you had requested bang on the maximum amount allowed. Just food for thought there.
Conclusion
Online casino terms and conditions can be long-winded and hard to understand especially when it comes to banking and they absolutely affect your gaming. No more is this evident than with low limit players who have just turned £25 into £110 and have done so with an online casino that has a withdrawal limit of £150.
Before you sign up to an online casino, it’s important to understand what the minimum withdrawal amount is, especially is you play low and withdraw low. You’re going to need to find a casino that allows you to do that with minimal fees and fast withdrawal times. The key here is to always play at reputable online casinos, we have lists of reviews that will help you find the best minimum withdrawal casino to fulfil your gaming needs.