You must have come across the term reverse withdrawals while initiating a withdrawal request at Canadian online casinos. It means your withdrawal request may be cancelled and returned to your bankroll during the three days if you are a standard player and one day for VIP players following your withdrawal request. After this time your withdrawal will be processed and may no longer be reversed. Interesting it seems but it has few terms and conditions that need to be followed.
What is a reverse withdrawal?
As said above reverse withdrawal is the term applied by online casinos to the waiting period imposed between the time you make a withdrawal request and that request being processed.
During this time you are able to reverse the request i.e. instead of completing the withdrawal, the money or the sum goes back into your casino account so that you can continue playing with it. The other name of reverse withdrawal is pending withdrawal as termed by few online casinos. It is important as it adds to the time taken from requesting a withdrawal from your playing account to the funds on your bank account or e-wallet. The time period for reverse withdrawal varies from casino to casino.
How to initiate a reverse withdrawal request?
•To reverse a requested withdrawal, login to your online casino using your username and password.
•Once in the lobby go to the Cashier and select “Withdrawal”.
•You will see a list of your withdrawal requests in the “Awaiting Process” box, complete with the withdrawal’s status indication.
•Select any unprocessed withdrawal request by clicking on it. Then click on “Reverse Withdrawal”.
•The withdrawal request will be cancelled and the status will be changed to “Cancelled by User”. The withdrawal funds will be immediately returned to your casino bankroll.
•Your withdrawal history can be viewed within the “History Log” application, accessible from the Lobby. Here you will find a complete list of all your withdrawal requests, both those that have been processed, as well as those that you have cancelled.
•Remember that withdrawals requested and subsequently cancelled during an event will not qualify for that event as a deposit. Deposits must be wagered during the event in order to qualify for that event.
•Your “Withdrawal History” stores a complete list of all your withdrawal requests, those that have been processed, as well as those that you have cancelled. For assistance with withdrawals, or any other matter, you can always contact the casino help support via live chat, email or phone number.
Time period for reverse withdrawal
When you make a first withdrawal request, the reversal process allows the casino time to verify your identity. The casino does this for the protection of players and to ensure they’re not the victims of identity theft, and to reduce the risk of online gambling being used to launder money, also to ensure that underage players are not playing at the casino.
After you have made an initial withdrawal and your identity has been successfully verified, there would be no need for reverse withdrawal periods to be imposed on subsequent withdrawals but most of the online casinos want you to wait for a certain time period before your withdrawal requests are processed. The reason for this that the casino is hoping you will change your mind and play again real money slots and spend what you win. Afterall it’s the business of the casino.
So casinos wants you to continue playing and hope that by giving players this option they will reconsider their withdrawal requests and resume playing. Similarly, reducing the number of withdrawals it has to process reduces an online casino’s costs – both in terms of the time taken to complete withdrawals and in their own banking charges.
The only benefit to have reverse withdrawals is that you can continue playing without the delay caused by first withdrawing funds, and then having to deposit them once more into your casino account is an advantage offered for the pending withdrawal process. This can also save you from paying the fees that are associated with some payment methods.
The drawback is that you have to wait for few days to get back your wins. This wait will be added to further depending on the payment method you use. If you’re withdrawing using credit card or bank wire transfer there can be an additional three to five working days added on top of the pending withdrawal period before the money hits your account. To avoid this players should opt to use ewallets like Skrill or Neteller to fund their casino account so that there is no delay in getting back to your wins once the casino has processed your payment and that the funds are immediately available and accessible in your e-wallet account.
Points to remember when initiating a withdrawal at the casinos
•Always read the terms and conditions associated with withdrawals at the online casino
•Find out what their policy is regarding reverse withdrawal.
•Some sites have no pending period i.e., once you make a withdrawal request, the process begins immediately and you have no opportunity to change your mind and cancel the request.
•If you are a loyal player or VIP player then you benefit from faster withdrawal times with a reduced pending period.
•There is also the option at some sites to request the removal of the reverse withdrawal facility directly with the casino. This process is known as manual flushing, and essentially means that the reverse withdrawal process is removed and any sum that you request to be withdrawn is not held by the casino as pending.
•Finally it is always advised to ask the customer support team at the online casino if you have any doubts and get clarifications on any questions you have in mind.