A major appeal of PayPal is the speed that it processes withdrawals and returns. PayPal withdrawals from online gambling websites usually take just 24 hours to reach your bank account and, in some cases, they’re completed instantly.
However, don’t expect to receive your money as soon as you’ve hit the withdrawal button, because it can still take between one to five days for a casino to actually process your request. This delay enables casinos to complete checks for fraudulent activity and money laundering, as well as giving you time to cancel your withdrawal completely.
New players are often also required to complete a ‘Know Your Customer’ (KYC) check before a withdrawal can be approved. This is performed automatically, but you may also need to manually verify your account by submitting identification documents such as your passport, driving licence, bank statement or proof of address.
KYC checks are a legal requirement for online gambling operators to ensure that all new players are over 18 and are who they say they are. However, new Gambling Commission rules coming into effect from May 7th 2019 will require that this information is requested before players are able to deposit, subsequently speeding up payments and account withdrawals.
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