Apart from finding a New Zealand online casino regulated and licensed by a reputable authority, withdrawal methods and cash out times are the most important. While security is one thing that concerns all online users, how fast you can get your winnings that matters most. Players that join online casinos are motivated by two major factors, the first is to enjoy high-quality gaming and the second, most important reason is to bag big winnings.
When that once in a lifetime win takes place, you’d like your cash in the fastest way possible. This is when players need to consider the differences between banking options. Online casinos offer a wide variety of banking methods, including credit cards, debit cards, e-wallets, direct deposits, bitcoin and bank wire. Online players need to complete the wagering requirements if they achieve winnings after accepting a bonus. The wagering and any other rules can be found in the terms and conditions section of the bonus.
Finding the perfect withdrawal method comes down to personal choice. We take a look at the most popular options and list both their pros and cons.
Credit Card Withdrawals
Most online casinos prefer players to use the same withdrawal method as was used to make a deposit. If your initial deposit was made via credit card, your winnings can be paid into your credit card. The withdrawal process requires players to select credit card as their preferred method and to complete the details. Depending on the casino, several documents are needed to complete the procedure. This is called the pending period since the casino could need some extra time to authenticate the documents. The money is transferred once the transaction is approved. Credit card withdrawals can take around 3 up to 7 days and cards accepted at NZ online casinos include MasterCard, Visa and Maestro.
Debit Cards Withdrawals
Debit cards are a popular choice and many players use this method to withdraw winnings. It allows funds to appear directly into your bank account and it is one of the most secure and reliable options. The process of withdrawal winnings into a debit card is more or less the same as with credit cards. Again, the process would require some identification documents as well as proof of address. Debit card payments can take from 2 up to 7 working days to reflect in your bank account.
Credit and debit cards are probably the most popular choice for both depositing and withdrawals. Both need players to share their bank account details with the casino via the internet. This is a major concern for most individuals due to the increase in hacking activities. E-wallets remove the necessity of sharing bank information and are gaining a huge increase in popularity. A large number of different e-wallets are available and major online operators. Casinos accept payments via EcoCard, Ukash, PaySafeCard, EntroPay, Click2Pay, InstaDebit, Skrill and Neteller.
E-wallets act as intermediaries between players bank and the online casino. Funds can be loaded onto e-wallets via credit cards or direct bank transfers. The e-wallet can then be used to deposit cash into your casino account. This payment method offers many advantages of which the most important is that players get to keep their financial information safe. E-wallets put players in control of their spending since only the amount added to the e-wallet can be spent. By using e-wallets you avoid being clocked by the bank and funds are available immediately. Apart from reliability and speed, e-wallets allow online users to use a single wallet for gambling and all information remains safe. The best benefit of using this payment option is the low transaction fees for both withdrawals and deposits.
Bitcoin is a decentralized payment method offering individuals the opportunity to remain anonymous. The cryptocurrency started out small and within a few years became widely recognized. It is now one of the mainstream payment options. While only a selected few online casinos accepted Bitcoin before, it is now recognised by most operators.
To deposit with the cryptocurrency, players need to create a free Bitcoin wallet. The currency is available at many currency exchanges. The wallet can also be funded via bank transfers, which makes it easy to use. The benefit of using Bitcoin is that no financial information is shared with the casino. Deposits clear instantly and withdrawals are processed within an hour.
Direct or bank deposits are another great way to use for withdrawing funds from online casinos. Players need to register a valid bank account with the casino for this option. There are different types of bank deposit options, including instant transfers and wire transfers. In several countries banks are prohibited by the government to allow transfers to casinos and for this reason the option is not available to all.
Withdrawal Time Periods
Withdrawal periods are an important part of any online casino experience. Understanding how the process works at different online casinos is important. Each operator has its own set of rules regarding withdrawal limits and pending periods. The best way to avoid frustration is to read the terms and conditions section before joining any online casino. Most online casinos require players to use the same withdrawal method as used in depositing funds. The turnaround time differs hugely from one withdrawal method to the next. What could also have an effect on claiming your winnings are the withdrawal limits. Generally, the turnaround times for debit and credit cards are 3 up to 7 working days. By selecting e-wallets could mean you have your cash within an hour up to 24 hours, Bitcoin cashouts are basically instant and bank wires can take 3 up to 7 business days.