Withdrawing funds is a minor part of the betting experience, but it’s without question the most satisfying aspect, especially after a big win. The leading bookmakers, such as Betfair, ensure this process causes little stress and quick payouts. In this guide, you’ll find detailed information on Betfair Withdrawal Times and the various withdrawal options available on this betting platform.
Betfair Withdrawal Time Scales & Options
Fortunately, Betfair accepts multiple UK payment methods. You can deposit and withdraw with debit cards, e-wallets via Bank Transfer and even cheque.
Betfair Withdrawal Times and Details for Debit Card
While we’ve separated the various debit card options, there isn’t any difference in terms of minimum withdrawals, fees, and processing times if you use a Visa or Mastercard debit card. With both options, withdrawals are typically processed between 2-5 working days.
Punters can also withdraw via Visa Fast Funds. This is the quickest way to withdraw your winnings, with withdrawals being processed within a couple of hours. However, restrictions do apply, with this payment method currently only available to customers in the UK, Ireland, and Spain.
Betfair Withdrawal Times and Details for E-wallets
While debit cards remain the most popular banking option for punters, e-wallets are increasing in prominence and Betfair now allows users to deposit via PayPal, Skrill and NETELLER.
You can create an account with any of the aforementioned e-wallets before banking with Betfair. The processes involving each are incredibly simple.
Security is paramount with this bookmaker, so when you deposit with NETELLER, for example, you must provide your NETELLER account ID and secure ID before you can deposit.
There are no withdrawal fees involved with any method.
With PayPal, Skrill and NETELLER, the minimum withdrawal is a mere £1, while it’s £5 with paysafecard.
paysafecard boasts a similar processing time to debit cards (2-5 working days), but with the other e-wallets, withdrawals are processed very efficiently (between 1-4 hours)
It’s also worth checking whether e-wallets are exempt from Betfair’s promotions, as this is usually the case across different operators.
Betfair Withdrawal Times and Details for Apple Pay
The emergence of Apple Pay has allowed iPhone users to purchase pretty much anything they like with just a simple tap on their mobile devices. This modern way of banking has now found its way onto the online betting scene.
Apple Pay allows users to make payments through iOS and watchOS apps, as well as websites in Safari. It’s a super convenient way of depositing and withdrawing funds on Betfair, although withdrawals do take between 2-5 days to be processed.
Customers who have Apple Pay set up on the following devices can use this as a legitimate payment option:
iPhone SE or later with minimum iOS 10 installediPad Air 2 or later with minimum iOS 10 installedMac models with Touch ID bar with minimum macOS 10.12
How to add a Payment Method on Betfair
There are plenty of payment methods to choose from on Betfair and adding a payment method is a quick and easy process that shouldn’t cause you too much hassle. Simply follow the steps we’ve outlined below.
Step 1: After logging into your Betfair account, click the account icon on the top right-hand side of the homepage before clicking ‘Deposit’.
Step 2: To add a ‘popular’ payment method (debit card, Apple Pay or ‘Instant Bank Transfer’), click the ‘Popular’ tab.
Step 3: If you’ve got space to add more methods, click the blue ‘+’ icon above ‘Add method’.
Step 4: Select your desired payment method from the choices that appear.
Step 5: You’ll then need to add any necessary financial information associated with your payment method of choice.
Step 6: Click ‘Add Card’ to complete the process.
If you would like to add a payment method that isn’t a ‘popular’ option, click the ‘Other methods’ tab at step two. All the other methods offered by Betfair will then show. Click your preferred method and add all the necessary information to complete the process.
How to Withdraw on Betfair
Withdrawing funds should never be a complicated process. Punters should be able to receive the cash they’ve earned as soon as they wish.
Fortunately, withdrawing with Betfair is a markedly simple process. Here’s a step-by-step guide.
Step 1: First up, make sure you’ve got funds in your Betfair account and you’ve been verified by the bookmaker.
Step 2: Once you’ve logged into your account, ensure all your funds are in your Main Wallet. You might need to transfer funds from your Poker account, for example.
Step 3: Once all your funds are in your Main Wallet, click ‘My Account’ in the top right-hand corner of the screen.
Step 4: As drop-down list will show, click ‘My Betfair Account’ from the options.
Step 5: You’ll then be able to access your funds via the ‘Withdraw Funds’ button. It’ll manifest as green if you’re able to withdraw.
Step 6: Select the payment method you wish to withdraw to.
Step 7: Enter how much you want to withdraw in the ‘Amount’ box.
Step 8: Click ‘Withdraw’ to conclude the process. Betfair will process your withdrawal and you’ll swiftly receive your funds (depending on the payment method).
Key Betfair Withdrawal Terms and Conditions
While Betfair tries its utmost to ensure withdrawing funds is a stress-free process, there are several terms and conditions for punters to remember.
Identification Verification Policy
Before you can withdraw funds from Betfair, you must first verify your identity with the bookmaker. You must send the bookie some sort of ID verification, whether it be a passport, bank statement, or driver’s licence.
You must withdraw funds with the same payment method they used to deposit funds into their Betfair account.
Minimum Withdrawal Policy
You must ensure that you have enough funds in your account to withdraw as some Betfair payment methods do not allow punters to take out tiny amounts. The minimum withdrawal amount depends on the payment method.
Maximum Withdrawal Policy
Betfair has imposed caps on how much can be withdrawn at any one time. Again, the maximum withdrawal amount is different for the various methods offered.
You should now be aware that is illegal to use credit cards on UK gambling sites. Thus, alternatives must be sought out. However, there are plenty of different payment methods to choose from on Betfair.
Things That Could Slow Down Your Betfair Withdrawal Time Scale
While Betfair will always attempt to process your withdrawal as quickly as possible, there are factors that could slow down withdrawal times. Below is a list of reasons for potential delays.
The Impact of the Weekend: Weekends are non-business days for banks, so Saturdays and Sundays essentially don’t count in the bank’s mind when processing withdrawals.
Identification Issues: Your identity has to be verified by Betfair before you make your first withdrawal, so any issues on that front could cause a delay. You may need to resend the required documentation.
Large Withdrawals: If you’ve got lucky and won big, it may take a little longer for your withdrawal to be processed if you’re withdrawing a lot of cash into your account. Betfair must ensure that any large transactions are paid out safely and securely.
Change of Banking Information: Betfair may be forced to oversee more security checks should your banking information change to combat fraud.
Betfair Withdrawal Times – FAQs
ThePuntersPage Final Say
There are a multitude of payment options available to punters when withdrawing funds with Betfair. The bookmaker ensures the processes are simple and stress-free, with no additional fees needing to be paid.
While the bookie’s withdrawal times could perhaps be more efficient, safety and security are paramount for Betfair. They’d rather be safe than sorry.
Overall, though, there’s little to fault and there’s nothing to suggest you’ll have any issues withdrawing funds from this excellent bookie.