Whenever you look for new casinos online to enjoy gambling, you should check the available deposit and withdraw methods. After all, that’s how you will be able to fund your wagering and hopefully extract your winnings to your bank account. While many of your been pleased about the recent post about the fastest payment solutions for new casinos, here we instead take up the slowest.
You will typically find there are various payment methods available in most new online casinos, each with their own strengths and weakness. In this article, we’re focusing on one of the most traditional options, which also happens to be one of the less responsive. Both credit cards and wire transfers are well known for their slow withdrawls; regardless, all new casinos still feature these options along with modern alternatives like e-wallets and cryptocurrencies.
Are you wondering about why these payment methods have such slow withdrawls? Would you like to know if they have any real benefits worth considering? Read through the following sections for a clarifying overview of this topic.
Which are the slowest withdrawls methods available in new casinos?
When you think of slow withdrawls, your mind will typically turn to conventional banking options such as major credit cards (MasterCard, VISA, American Express, and Maestro) along with bank transfers. These are the most traditional options available that you can use to fund your new casino account. They all involve far slower processing times compared to newer options such as e-wallets and payment cards.
Regardless, many people are still turning to their credit cards, for an obvious reason: they allow you to play using borrowed money. While this is not necessarily the most advisable course of action, it’s one of the most typical reasons why people choose this option even though it has such slow withdrawls associated.
All of the leading available credit cards (VISA, MasterCard, American Express and Maestro) work similarly. The main points of contrast between these options include the number of countries where they’re accepted, as well as their interest rates on the credit and the processing rates on the deposits. If you’re planning to use a credit card, choosing the right one will hinge mostly on these factors since they usually have similar payment processing times and slow withdrawls that will take around 2-5 business days to complete.
Credit cards do offer an additional layer of protection on your transfers, but they’re not the most advisable method to use if you want to keep track of your spendings. It’s not unheard of for people who use credit cards to only really notice how much credit they’ve been using until they get the bill, and interest rates can sometimes be unnerving.
Additionally to credit cards, the other traditional payment method available in every new casino is a simple bank transfer. This involves simply sending money straight from your bank account to your casino account, or to otherwise send the money you win at your new casino to your old bank account. This is typically the slowest payment method of all the options available at online casinos, with processing times of 5-7 business days.
The reason why people choose this payment method is that it’s the most convenient and widely accessible. Everyone has a bank account, these days, and it can be a practical way to transfer money back and forth to your new casino. The problem with wire transfers, asides from the slow withdrawls, is that some banks can charge you exorbitant fees when processing international payments. You should make sure to check the applicable fees with your bank, since the numbers can vary dramatically depending on a number of factors – ranging from the actual bank to your account type and the countries involved in the transfer.
Why do these traditional payment methods have such slow withdrawls?
Go directly to
- 1 Why do these traditional payment methods have such slow withdrawls?
- 2 What other options do you have if you want faster withdrawls?
- 3 FAQ: Common questions about slow withdrawls
- 4 Why are withdrawls so slow from casinos when using VISA and Mastercard?
- 5 How come it takes over 3 days to take out money from new casinos with Maestro?
- 6 How come e-wallets are so much quicker than debit and credit cards?
- 7 Are banks not innovative enough to handle quicker payments?
There is a simple reason why credit cards and wire transfers always have such slow withdrawls: these are very traditional payment systems that involve heavy bureaucracy and have many extensive protocols in place, to keep the transactions secure – both yourself as well as the banking institution.
When you choose one of these payment processing methods, your money will go through different layers of verification and fraud protection, until they’re eventually approved. This usually requires different clearance levels from different types of employees in a banking institution, which means your withdrawal request will go through many different loopholes before it’s eventually approved.
Additionally, traditional banks do not operate on a 24/7 routine like some of the newer alternatives do. While credit cards and traditional bank accounts are great for a number of traditional financial operations, they are not the best options available when you’re dealing with new casinos. In this situation, you will likely want to choose modern payment methods that have much faster processing rates and that have been specifically devised to facilitate quick transactions.
It’s worth noting that many of the newer modern options are simply additional financial layers that work together with traditional options. For example, e-Wallets are just a virtual account meant for fast electronic payments; you will usually put money into your e-Wallet using a wire transfer or credit card, so you can then use those funds in more convenient and faster ways that are best suited to the fast-paced dynamics of the Internet.
What other options do you have if you want faster withdrawls?
If you’re concerned that using credit cards and wire transfers will keep you stranded waiting for slow withdrals to come through, then you should consider looking into e-wallets, payment cards, and similar options. These modern alternatives usually have much faster processing times. In fact, making withdrawls to most e-Wallets is instant – except of course, in cases where the casino you choose actually makes a point to keep the procedure pending for 24-48 so they can verify if there are no potential issues.
For anyone who would like to learn all the details about all the available deposit and withdrawls methods available at all online casinos, we have written extensive information that you should make sure to consult. It’s a really good idea to become familiar with all your available options as well as their unique strengths and drawbacks, so you can choose wisely. By educating yourself on all the available payment options, you will be able to choose those that best suit your particular requirements, while making sure to avoid wasting money in unnecessary fees (or to otherwise avoid wasting time, if that happens to be your priority).
Having options is always a good thing. Depending on a number of factors, you may at some point choose one withdrawl method over another. Make sure to get familiar with all the available options in any new casino you join, so you can decide which is best for you at any given time. It’s also worth noting that different casinos will have different processing times and unique fees for each payment system, so you should check these details carefully whenever you plan to join a new casino.
Some casinos will actually provide you unique bonuses and promotions to incentivize you to chose specific payment methods, so it’s also a good idea to compare and contrast the available bonuses. Since retrieving all this information can be bothersome, you may instead simply check the reviews available on this site. We have carefully done all the leg work on your behalf, so you will be able to make informed decisions at a glance, without losing much time or energy.
FAQ: Common questions about slow withdrawls
Here are a few of the most commonly asked questions about delayed withdrawls that new online casino players ask us about.
Why are withdrawls so slow from casinos when using VISA and Mastercard?
The reason why VISA and Mastercard withdrawls take so long to process is that both these methods are land-based, even though the actual card is electronic. This means you will initiate the process instantly, but it will usually go through different layers of verification across different institutions and will require various clearances from different professionals before it’s eventually processed.
How come it takes over 3 days to take out money from new casinos with Maestro?
Just like any other card, Maestro has slow withdrawls because it will require multiple clearances (from the actual online casino to the credit card company and the associated banks) before the money is transferred.
How come e-wallets are so much quicker than debit and credit cards?
E-Wallets such as Skrill, Neteller, Trustly and Zimpler have been specifically devised to provide fast and secure online payments; these payment methods have been developed from scratch to allow instant payments over the Internet.
Are banks not innovative enough to handle quicker payments?
Banks are not meant to be innovative, they’re meant to be secure and reliable. The reason why they don’t provide quicker payments is that they put the emphasis on maximum security over maximum effectiveness.