Guide to Bingo Withdrawals
Article published on July 21, 2017 05:10pm
by BingoPort Reviewer
Withdrawing your winnings after a hard day's bingo is a great feeling, but we know that sometimes it can be difficult. Many different sites appear to require vastly different methods of withdrawing your money, but in reality they all follow the same principle.
To simplify matters, we've produced this helpful guide to bingo withdrawals.
What conditions do I need to meet in order to withdraw my winnings?
Perhaps the most important thing to consider when trying to make a withdrawal is the bingo site’s wagering requirements. The wagering requirements stipulate the amount you’ll need to gamble (or ‘wager’) before you’ll be able to release your winnings.
The strictest wagering requirements are most often put into place on welcome bonus deals, such as free spins on slots. It’s always a good idea to read the small print before you sign up to a new site because of this.
Wagering requirements will be written as a multiplier value, such as ‘10x’. Look for sites with the lowest wagering requirements if you want to make your money go as far as possible. Check out our ultimate wagering requirements guide for more information.
You’ll also need to provide some form of identification in order to make a withdrawal. Many bingo sites have put this measure into place in order to prevent fraudulent accounts, or underage gamblers.
You’ll be expected to provide one or more of the following:
- Photographic ID, such as your passport or driving licence
- Debit or credit cards
- Proof of address, such as a utility bill
Minimum withdrawal amounts
The vast majority of bingo sites come with a minimum withdrawal amount, which will be set out in the terms of conditions. On many sites, this can be as little as £5, but other sites will specify a much higher amount, such as £20.
It’s always a good idea to read the small print before signing up to a bingo site or making a deposit, especially if you’re a small-stakes player looking for a low minimum withdrawal amount. Take a look at our recommended sites so that you can pick the best site for you.
Maximum withdrawal amounts
If you’re lucky enough to come into a large win, we hate to disappoint you but you won’t be able to get your hands on it all at once! We’re sure this won’t dampen the thrill of winning too much, but it’s something you need to be aware of.
The amount you can withdraw at a time will be subject to a daily, weekly or monthly limit, which varies from site to site. Don’t worry too much—we’re generally talking about big money here, far beyond what most players will ever win.
Which card or account will my withdrawal go to?
In general, most bingo sites pay your withdrawals onto the same card you used to make the deposit. There are a few notable exceptions to this, however. For instance, if you used a payment method to which the withdrawal can’t be delivered, then your winnings will be transferred to your bank account.
How long do withdrawals take?
The amount of time it will take for your withdrawal to appear in your account depends most significantly on which payment method you used to make the deposit with.
Debit and credit card withdrawals normally take around 5-7 days. Wire transfers can take even longer than this—sometimes up to 12 days.
At the other end of the spectrum, e-wallets, such as Neteller and Skrill, tend to provide the quickest means of withdrawal. PayPal is also very speedy, so if you’re in a hurry to get your money then these are the options you need to take!