What’s a reverse pending period?
Online casinos have reverse pending periods where they will process your cashout/withdrawal request after a certain amount of time (normally between 24 and 48 hours). The better online casinos have no pending periods and process cashouts within hours or even minutes. Some of them have a lock withdrawal feature where you can safeguard your cashout request so you are sure to receive your winnings.
Lock Withdrawal feature
A few UK online casinos now offer a service whereby you can lock your cashout request – this means that you’ll receive your winnings and you cannot cancel your withdrawal (so you are not tempted to play away your winnings).
If you like SlotsMillion Casino for example, you can lock your withdrawals from the ‘Lobby’ section. Casumo Casino lets you go to the ‘Withdrawals’ section and select the ‘Lock’ button. NetBet Casino/Vegas also allows you this but you will need to use Live Chat to get in touch with the Customer Support team to request the service.
Verifying your account
In order to cashout at an online casino, you will need to verify your identity – this will entail providing them with documents. This may include your driver’s license, passport, bank statement (recent ones), utility bill, council tax bill, HRMC tax notification, tenancy agreement and/or mortgage or home loan statement.
You will be asked to provide 2 forms of identification normally – this is a requirement of the UK Gambling Commission (UKGC) and applies to all online casinos in the UK. Some online casinos verify your identity as soon as you sign up (they will check your name, age and address based on electoral records etc).
You will need to prove the banking method you’ve chosen is correct though once you request your first cashout. Verification is needed to ensure people under the age of 18 cannot gamble online basically – it protects you as much as it does them. We advise you send in the documents as soon as you sign up so you can get on with playing and hopefully cashing out. The good online casinos will verify your account within minutes.
What payment/banking method should I use?
The banking or payment method you use to cashout will affect how quickly your receiving your winnings. If you use a debit or credit card for example, you have to factor in banks’ processing times – this means that you’ll receive your funds within 2 to 4 working days. If you use e-wallet solutions such as PayPal or Skrill for example, you’ll receive your winnings within hours or even minutes.
Whilst e-wallet solutions are preferable when it comes to cashing out at a UK online casino, many of the casinos don’t allow these banking solutions to be used when claiming a first deposit bonus offer. If you take Trada Casino, they allow you to claim the welcome offer using PayPal – withdrawing with PayPal is also lightning quick.
Online casinos with betting shops have a distinct advantage
Many online casinos are run by sports betting companies – such as Paddy Power Casino (Paddy Power) or Coral Casino (Coral). With betting shops scattered across the UK, they both offer their own cards. If you have a betting shop close to you, this can work hugely in your favour.
If you take Paddy Power, they have a PP Cash Card – you can link your online account to your card. When you go to withdraw, you can head down to your local Paddy Power betting shop and collect your winnings in person, and in cash. Bear in mind you can deposit up to £2,500 per 24 hours with the card and withdraw up to £1,000 (per day).
Coral Casino have a Connect card – you can use it in their betting shops, online (via mobile and tablet devices too). You can deposit cash in any of their shops and play online or on your handheld device. By the same token, you can collect your winnings in cash over the counter at your local Coral shop (they have more than 1,800 in the UK!). Coral Casino also rewards Connect customers with exclusive promotions and offers.