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When luck comes your way and you have winnings on an online casino, you will understandably be keen to withdraw that money. There are several options available for this, from the method you used to deposit, to requesting a cheque in the mail. These vary from one site to the next, but most offer a simple bank transfer payout, perhaps the most popular choice for South Africans.
When making a withdrawal or requesting a payout, users will be presented with various options depending on their casino of choice. Most casinos offer payouts to the same method used to deposit, by default. For example, a user depositing with MasterCard will be offered withdrawals to the same MasterCard account. Sometimes, users can also ask for a cheque, but that relies on waiting for postal delivery and may not be available. The remaining choice is bank transfer payouts, which are essentially the default type of transfer and widely used by South African casinos.
With several online casinos using bank transfers, this method is a popular choice. The process is very simple and just involves transferring money from the casino to your bank, or vice versa. This uses your bank’s existing internet banking system. Clearly this is a very basic, simple and user friendly service. Bank transfers are used throughout the gaming industry, not only in South Africa. Most users of bank transfer payouts consider the biggest advantage to be that money is received straight into their bank accounts, with no middle men. This straightforward method is also advantageous in that you do not actually need to have a bank account. Some casinos may ask for identification on your first withdrawal or deposit, however. This will often be a photo identity card like a driver’s licence.
Withdrawing using a bank transfer payout is very easy. You can navigate to your site’s withdrawal or payout sections using the navigation menu or account section. Then you simply follow on screen instructions, filling out the details of your bank. You may have to fill in a paper form and send it back to the casino. Generally, you just need the same details you would usually find on your bank card. This data may be stored by the casino site, but all reputable sites use encryption to protect user information. Security standards can often be checked on a site’s FAQ page. Bank transfer withdrawals tend to take one or two working days to complete, between being processed by the casino and then cleared by your bank. The time required varies depending on your bank.
Bank transfer methods may also be referred to by sub-categories, such as wire transfers and instant transfers. Cheques can come under this heading too, being a paper variety of bank transfer. This option, overall, is ideal for users who do not have a credit or debit card or who prefer not to use these online. Unlike credit cards, funds must be in place to use bank transfers, which can help to avoid accidental overspending.