When online casinos first launched, you could be waiting days for your deposit to land in your casino account. If you wanted to cash out any winnings, we’re talking weeks. It wasn’t a great experience, and gambling brands realized things had to change. Thankfully, they did, and over the years the entire deposit and withdrawal process has improved significantly.
What’s particularly interesting is that the online casino industry has seen the biggest development in payments in the last 12 months than it has in 2 decades. Why is that? What technology is changing? And, more importantly, which are now the fastest casino payout methods in 2021? Keep reading to find out more.
Trustly and Zimpler
Whether you can use these two super-speed payment methods will depend on where you are in the world. Trustly and Zimpler are incredibly popular in Scandinavia and the Nordics, in places like Sweden and Finland. In fact, the term nopeat kotiutukset, which means fast withdrawals in Finnish, is one of the most Googled things in the country. This is evidence of just how important fast payout methods have become.
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Trustly and Zimpler are both digital wallets, and users in certain countries are able to add funds to casinos without even creating an account. This is because these digital platforms can identify you through your bank card, impressive right? We’re hoping to see both Trustly and Zimpler available in other parts of the world very soon.
PayPal
PayPal is the biggest online wallet, used by hundreds of millions to make digital purchases. Its original popularity is partly down to its integration with eBay, but PayPal now plugs into thousands of websites for quick, safe, and painless transactions.
PayPal isn’t only quick to deposit and withdraw into and from an online casino, but it’s trusted and it’s familiar. You know that your details and finances are safe, and this is why players love it so much. Withdrawing cash from a casino to your PayPal account takes around 24 hours, with is considerably faster than other payment methods. It is because of its efficiency, and its low fees, that PayPal will continue to thrive amongst casino players.
Neteller and Skrill
Neteller and Skrill are very similar to PayPal, in that they are digital wallets that provide users with fully encrypted transactions. Although you can use these platforms to purchase almost anything, they have become incredibly popular at online casinos. Part of the reason for this is that they are accepted almost everywhere, in most countries. Unlike some more ‘exclusive’ payment methods, these are very accessible.
Neteller and Skrill are fast. Deposits are credited instantly and withdrawals in about a day. The catch? And the reason they’re lower than PayPal on this list? Fees. Both charge transaction fees, they may seem small but over a period of time or regular gaming, it can add up to quite an amount. This means that your cash doesn’t go as far with these options.
What is the casino payout process?
People tend to think that when they press withdraw, the cash is instantly on its way back to the bank. This isn’t the case. There is an entire background process going on, and that’s why payouts aren’t as fast as we would like.
Your account will need verifying first, but this only has to be done once. If it’s your first withdrawal and you’re being asked for verification documents, there’s going to be quite a significant delay to your payment. That’s because the documents are checked and approved manually.
Even if your account is verified, there are manual checks done on each withdrawal and an approval process from a dedicated payments team. They check everything is in order, that your payment details match, and that no terms and conditions have been broken. The good news is that this part of the process should only take a day.
Only then is your payment approved and processed. At that point, it’s down to the payment method itself. This is why bank cards and credit cards can often be the slowest withdrawal methods, as they have significantly more processes before releasing the funds. E-wallets and digital platforms have better and more efficient technology which is why they are the number one choice for casino players.