Quick and Hassle Free Cashout Options
When you win big at an online casino, you want to receive your money as soon as you can. After all, nothing destroys the excitement of a big win like having to wait over a week to see your money. Luckily, the days of slow cash-out options are behind us, at least for the most part.
There are still some options that are very slow. If you opt for a bank transfer or a wire transfer, for instance, then you can expect to wait for as long as a week. If you choose to cash-out to a debit card or a credit card, then at best you’re looking at three days before you see your money. And at worst, it may take up to 10. But if you opt for a web wallet or an Instant Banking option, you can receive your money while your excitement is still at its peak.
In this article we’ll take a look at those options as we discuss the fastest cash-out options for Canadian players.
In the early days, PayPal was just something used to facilitate payments on eBay. It was a novelty, and one that seemed to frustrate more people than it helped. As it grew and became an entity in its own right, it frustrated people even more. In those days, PayPal could not be used on online gambling sites. But then a rival began accepting payments on and making a lot of money from them. PayPal noted that and decided they wanted a slice of the pie, so they began allowing such payments.
These days it is not the biggest web wallet on online casinos, but it is the biggest web wallet in the world. You don’t need to have a Paypal account to send money, but you will need an account to receive money. It works as a middleman between your bank account and the online casino.
The best thing about PayPal from the perspective of a gambler is that it can be used as a bankroll. You deposit how much money you are prepared to lose over a given period, and from there you drip-feed that money into your gambling accounts. You can top it up at will and you can even restrict yourself from depositing more from your bank account, should you have an issue with gambling addiction.
Cash-outs can be paid into PayPal in a matter of hours, and from there they can be transferred instantly to your bank account, or used to gamble/shop.
We mentioned that PayPal is not the biggest web wallet in the online gambling industry. That will surprise many, because the truth is that Skrill is much bigger and much more common. Skrill has always been open when it comes to online gambling, so it has always enjoyed a friendly relationship with this industry.
There are also many players who have issues with PayPal, whether because of a bad experience, or because they don’t agree with the high fees. In such cases, then Skrill is the perfect alternative.
Skrill is just as quick as PayPal, and it has just as many benefits. But it is also that little big cheaper and that little bit more common.
Citadel is the biggest Instant Banking feature in Canada. It works via a web-based app, providing customers with a safe and speedy way to transfer money. This is more commonly used to deposit, but more and more online casinos are also using it to facilitate cash-outs. If your bank does not have the Citadel web-based app, then you can simply download a version of it onto your computer or device. As a result, Citadel can pretty much be used by anyone that owns a Canadian bank account.
Another Instant Banking feature. Interac is just as common, just as quick and just as safe. It is not as widely available as Citadel, but you can find it on the biggest Canadian banks. Interac has been used for a number of years and is synonymous with instant banking for many Canadians.
It works via security codes. The user simply transfers a set amount of money to a recipient of their choice. The recipient will be asked to input a security question and answer. They then need to give this answer to the recipient, who will be asked the question.
Interac is more commonly used to deposit, and it’s rare to find this as a cash-out option.