Deposits and Withdrawals
Having been lured in by the excitement of online poker, you’ve looked around for a good place to play and practised on a number of free games to build your expertise. The only step left is to finance your account. There are lots of ways to deposit and withdraw funds, but it’s important to check on the site of your choice that there is a method which works for you. You should also read through the terms and conditions to help you make an informed decision. Common payment methods include:
Debit Cards
This is a straightforward way to deposit. Players can add funds to their online poker account with a debit card as long as they have sufficient money in their bank account. There will not be a charge for adding money to your poker account via a debit card.
Credit cards
Paying by credit card is certainly convenient, but you may be charged a cash advance fee and withdrawing winnings to a credit card is not always possible.
eWallets
Services like Neteller, Skrill and PayPal are popular and secure online payment methods that are linked to your bank account, meaning that you don’t have to give out personal financial information. Withdrawals via Neteller and Skrill are often among the quickest to be processed, although there are sometimes fees attached to these services.
Paysafecard
A prepaid card which allows customers to fund their online poker account without the need for a debit card, paysafecard is a fast and easy option. However, it is not possible to withdraw funds via paysafecard, so payments back to you will either be processed via cheque or bank transfer.
Bank Transfer
Sometimes known as a bank wire or wire transfer, this is a simple method where customers request that money be moved directly from their bank account to the online poker operator or that funds in their player account be moved into their personal bank account. This payment method will take longer to process than if you use a debit card, and some sites will charge a small fee.
Customers playing from other countries can be eligible to play on UK-centred poker websites depending on their location, but they should check the site’s terms and conditions for payment methods to see which options they can or cannot use.
First Deposit
You will usually have the chance to make a deposit as soon as you sign up and the process itself is incredibly straightforward. It is just a matter of choosing a payment method, entering in the relevant card details and the amount you wish to put down. There will also be lots of help on hand, including FAQs and support options such as live chat, email and a customer support number you can call.
If you decide not to make a deposit straight away and just want to play free games first, or have a look around the site, the option to pay always remains clearly visible throughout thanks to either a ‘Deposit’, ‘Cashier’ or ‘Bank’ button on the menu. There will be a minimum deposit you have to meet every time you put down money, while there is also likely to be a maximum amount you can put down on the first deposit because there is typically a welcome bonus offered to those who add cash to their accounts for the first time.
Declined Payments
There can sometimes be stumbling blocks in even the smoothest process, and occasionally customers may find that their payments are declined. There are a variety of reasons why this might happen and the best course of action is to contact the online poker operator for support. If they are not able to confirm what has gone wrong, they may point you in the direction of your bank or card issuer.
It may be that the poker site does not have the correct details for your payment method, so it is a good idea if your payment is declined to check that everything matches, including the card number, the three-digit security code on the back and the start and expiry dates.
A small number of credit card issuers do not allow poker transactions, while it may be that larger deposits are declined. You should also make sure you are using an accepted currency for the site. In some cases, it may be possible that the system only recognises characters from 0-9 and entering anything else (for example £ or $) causes a problem. Finally, check that you have enough funds available to make a deposit.
Withdrawal Times
All websites will give an idea of the approximate time you can expect to wait before your withdrawn winnings show up back in your bank account, and typically this will be between 24 hours and 5-10 working days depending on the payment method. It is always worth finding this out before you start playing.
Money will be sent back to the registered payment method where possible, although a small number of credit cards do not accept withdrawals, and for methods such as paysafecard you will either receive a cheque or need to set up a bank transfer.
Withdrawing money is as easy as depositing it, and it is usually done through the same section, so you will just need to make sure you are logged in and then click on the ‘Bank’, ‘Cashier’ or ‘Account’ tab depending on the site. Select the option to withdraw and choose how much you wish to take out. As with deposits, all sites will have a minimum amount that can be withdrawn, while transactions are final and cannot be reversed unless otherwise stated.
As long as you have enough in your online account to qualify for a withdrawal, you can take out as much as you like, as there is not usually a limit. If you decide to withdraw all the money in your online poker account, you will have to deposit again before you play and repeat the cycle. It might be a good idea to keep some of your funds in your account so that you always have the money to hand to play cash games, Sit and Gos, tournaments and more.