All casinos have long paragraphs about withdrawals in their terms and conditions, but the important part is that they reserve the right to set their own rules and policies for this, and they will not share all of the information with you. You will never find a complete set of rules and routines that the payment teams are working with, as this is strictly confidential. This is not to tip off anyone who wants to participate in fraudulent behaviour. Some rules, on the other hand, are set in stone, and free for all to read up on.
The first rule and perhaps the most important one has to do with verification of the account. All casinos have to verify all of their players, at some point or another. Some players will have to do this before they can request their first withdrawal, while other players can withdraw quite a bit of money before they have to do so. In some jurisdictions, like in the UK, players have to verify their accounts even before they can make their first deposit. Canadian players, however, do not need to do this, as we are playing under different jurisdictions and gambling licences.
The fixed rules for when a casino has to verify an account is when a total withdrawal has exceeded €2300 within a 6 month time frame, or when there is another reason why the account should be verified. These reasons are always up to the casino to decide for themselves. In other words, they all reserve the right to ask for a KYC (Know Your Customer) verification whenever they want to.
Even though a casino can decide when to verify an account there are some instances where this is more common than others. The most common reasons for an early withdrawal include when you convert a free bonus to real money and want to make a withdrawal, when money in the account has been mixed with different sources of funds, and when you withdraw back to a different payment method than the one used to deposit with. In addition to this, players from some countries, by default, have to verify their accounts before their first withdrawal.
Another normal withdrawal policy is that all payouts should go back to the same payment method as where the winning deposit came from. This is to avoid money laundering, tax evasion and funnelling of funds to criminal or terrorist networks, through the casino. This means that you are not free to choose which payment method you would like to have your money sent to, as this is something that the casino can determine. If you choose the wrong method they can decline your withdrawal, send the money back to your playing account, and ask you to withdraw back to the correct payment method.
There are no set rules regarding fees for withdrawals, and this is something that’s up to the casino to choose if they want to have or not. This you should find in their terms and conditions, so skimming through those can always be a smart move. If the casino has fees, it is likely to be either a processing fee, exchange fees or a fee for the transaction itself. Some casinos only impose some fees on a certain group of players. These can be players who are new to the casino, players who make small deposits and withdrawals, or players who make a lot of withdrawals.
In addition to the fees, you should also check the T&Cs for limits regarding withdrawals. Most casinos have a set of rules for how much you can withdraw within a set time frame, and here the limits can differ quite a lot. This would tell you what will, or could, happen if you win a big chunk of money that you would like to withdraw.
Another thing that’s covered in the casinos T&Cs is the processing time. This is supposed to serve as a guideline to how fast you can expect the casino to process your withdrawal after you have requested it. What’s important to note is that processing and approving are two different things. The casino might deny your withdrawal, and that still counts as processing. The number of days the casino gives themselves to process a withdrawal is different, but the standard is about 5 business days, meaning a week. However, even if this is stated in the T&Cs, a casino can still process a withdrawal faster, and most do this within 24 hours.