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Online Casino Cash-Out Options
In an actual casino cardroom, the term cash out is fairly literal. You hand over your accumulated poker chips to the cashier, who hands back cold, hard cash. A pretty straight forward transaction.But in the brave new 21st century, cash—that is to say, paper currency—is quickly going the way of the dodo. Or the typewriter. Or the Montreal Expos. Science fiction writers have long speculated that eventually the use of cash will become a black market transaction, totally supplanted in legitimate society by digital currency.
In any case, it\'s true that “cashing out” is already an archaic term in regard to online poker, and Internet transactions in general. Probably a better way to think of this process is that you are withdrawing funds from your poker account and moving them back into your personal checking, credit, debit, or third-party accounts. This occurs either as a digital cash transfer, or you usually have the option of being mailed a check. You\'ll discover soon enough, however, that regardless of the method, getting your money back is likely to take several days.
First things first: Any and all withdrawal options offered by a particular online poker room are explained in detail in the cashier window section of the site. See Table 14.1 for an example of the cash-out options at Party Poker. Here you will find information on the minimum (and sometimes maximum) amounts you can withdraw at any given time. You\'ll also be given details on the average transfer time for each method and possible associated fees. Read everything and choose carefully. Let\'s take a look at the options generally offered.
Table 14.1: Cash-Out Options at Party Poker
| Payment Method | Fee | Transfer Time | Comments |
M
inimum/ Maximum |
| iGM-Pay | $0.00 | 3–4 business days after approval | You must register and verify bank account with iGM-Pay. | $50 minimum |
| Neteller | $0.00 | Within 1 business day of approval | You can transfer funds directly into your bank account. |
$50 minimum |
| FPS-ePassport | $0.00 | Within 1 hour of approval | You must have an FPS-ePassport account. | $50 minimum |
| Wire transfer | $35.00 | Sent within 1 business day of approval | Wired funds will reach you within 24–48 hours after sending. | $250 minimum |
| Check | $0.00 for U.S. mail; $25.00 for Federal Express | Sent within 1 business day of approval | 7–20 business days for U.S. mail; 2–3 business days for Federal Express. | $50 minimum for U.S. mail; $100 minimum for Federal Express |
(© 2005 Deal Me In! Online Cardrooms, Big Time Tournaments, and The New Poker Book. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed)
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