If you're looking to get some money off of Betfair, you're probably wondering what your withdrawal options are. Thankfully, Betfair offers a wide range of withdrawal methods, from payment cards to bank transfers and ePayment services. In this article, we'll look at each of these payment methods, and discuss what you can expect in terms of fees, limits, and withdrawal times.
What Withdrawal Methods Does Betfair Support?
Betfair supports a wide range of withdrawal options depending on where you live. For most jurisdictions, the most popular withdrawal methods supported by Betfair use a payment card, bank transfer, or some kind of eWallet service. There are other payment methods, like cheque, which we won't go into.
For small and medium-sized transactions, the most convenient way to withdraw money from Betfair is by using the payment card you used to deposit money with the bookmaker. You can use both credit and debit cards. However, Betfair may require you to have previously made a deposit using the card you are trying to withdraw money to. There are some downsides to this method. For example, if a card you previously used to deposit money has since expired, you won't be able to withdraw money. As a result, you might have to deposit money on Betfair in order to use a different withdrawal method.
For larger balances, bank transfers are definitely the best way to get your money out of Betfair. If you're a UK customer, Betfair offers fast, free UK bank transfers, but this may vary for other regions. Once again, Betfair may require you to have used the bank account in question before you can withdraw money to it.
Express bank transfer
In the UK, you can also withdraw money from Betfair using an express bank transfer. Whereas a regular bank transfer takes two to three days, an express bank transfer will arrive in your account on the next working day, for a small fee.
Betfair also allows you to withdraw funds to a wide variety of eWallet services, including Skrill, PayPal, Apple Pay, and others. These can be the fastest ways to withdraw funds, since they don't rely on traditional banking systems, which are often slow and only work during the week.
How Do You Choose a Withdrawal Method on Betfair?
Depending on the methods you've used to credit your Betfair account, the bookmaker doesn't always let you choose which withdrawal method you want to use. If this is the case, you have two options. You can try making a deposit to Betfair using the payment method in question, like a new payment card, or you can reach out to Betfair support. In most cases, we recommend reaching out to Betfair support to find out what your options are. Depositing with a new payment method doesn't always add a new withdrawal method, and may come with some fees.
What Is Betfair's Withdrawal Fee?
In most cases, Betfair doesn't charge a fee if you want to withdraw your money. For example, withdrawals to payment cards and bank accounts are free in most cases. However, some payment methods may come with additional fees. Express bank transfers, for example, are charged at a flat rate of £6 per transfer. Other payment methods, especially eWallet services, may have fees on the receiving end. In case you're unsure about what fees you'll pay when withdrawing from Betfair, you can usually find out within the withdrawal interface, or by contacting Betfair support.
What Are Betfair's Withdrawal Limits?
Betfair's withdrawal limits depend on the withdrawal method you are using and the region you are in. Even then, the limits are always changing. Usually, Betfair will allow you to withdraw up to £10,000 to a payment card, while there are no limits for withdrawing to bank accounts. The limits for ePayment services are unclear. In most cases, these withdrawal limits are daily, which means you have to wait 24 hours between making transfers that cumulatively exceed this amount.
What to Do If Betfair Won't Let You Withdraw
In some cases, Betfair might not let you withdraw your hard-earned cash. This is usually because you've reached your withdrawal limits for the day. However, it might also be because you've chosen a withdrawal method that's not enabled on your account. In any case, the best way to resolve any withdrawal issues is by contacting Betfair support, who'll tell you what your options are, how much they'll cost, and how long they'll take.
How Long Does It Take to Withdraw from Betfair?
Depending on how you choose to withdraw from Betfair, withdrawal times can vary massively. For UK customers, though, the popular bookmaker has published some guidelines. Withdrawals to payment cards can take anywhere between two and five working days. Standard bank transfers can take two to three working days, while express bank transfers take place on the next working day after you submit a withdrawal request. For most ePayment methods, withdrawals take between four and 24 or 30 hours. The exception to this is Apple Pay, with which withdrawals take two to five working days.
Fast Funds for Visa Debit Cards
There is an exception to the information above. If you use a Visa debit or prepaid card, Betfair offers a service called Fast Funds, which is only available for users in the UK, Ireland, and Spain. This allows you to withdraw money to the card (and thus the associated bank account) in up to two hours, but usually within seconds, making it an attractive way to get money out of Betfair.
Betfair offers a range of withdrawal methods, all of which are best suited for various circumstances. If you want to withdraw money fast and have a Visa debit card, Betfair's Fast Funds has to be the method of choice. Otherwise, fast withdrawals are best done through ePayment services like PayPal. For larger transactions, bank transfers are the way to go, with the inexpensive express transfer reaching your account the very next (working) day.