Poker cash flow: how to optimize deposit and cash out operations

Successful cash flow management is very important for online poker players.

Here’s our guide on how to set up your deposit and withdrawal process in the most simple and effective way.

The information below could be useful for different types of players. We will concisely describe the following 6 points:

Poker cash flow: how to optimize deposit and cash out operations

Start with verification

First of all, you need to verify your identity. It is a standard procedure, and the verification process is quick and easy. Poker websites always check the identity of customers to prevent fraudulent activities or creating multiple accounts.

Therefore, it is better to complete this process in advance, so that to avoid your first withdrawal delay. Usually you just need to provide a picture of your ID document and a selfie with this document, as well as a copy of the household utility bill to verify your address.

In order to be able to make online transactions, you also need to verify your ID at your payment service provider. Please note that both your e-Wallet and poker room accounts must be registered for your name.

The fastest way to verify your ID at Skrill or NETELLER is to register with our loyalty program: verification will take just one day. We have been assisting online gamblers for many years, helping them use e-Wallets in the most profitable and effective way.

Create a bank account

Skrill and NETELLER allow you to keep your transactions completely confidential, and this is one of the main reasons why poker players prefer to use them. But you need to have a bank account anyway.

It is usually better to create an account in USD or EUR so that to avoid conversion fees. But Skrill now allows you to hold balances in different currencies in your wallet, and more than 40 currencies are supported.

Of course, your bank account must be registered for your name too. Once you successfully set up this chain – bank, e-Wallet, and poker website accounts – you can be calm about your cash flow and focus on the game itself.

Get the second e-Wallet

When uploading money with a bank card to your Skrill account, you should choose the purpose of use for the deposited funds: gambling or non-gambling. Please note that once selected, the purpose cannot be changed later.

Sometimes it may be more convenient for you to have a second digital wallet, so that to be more flexible while managing your cash flow online.

Withdrawal procedure

If you verified your poker and e-Wallet account, there would be no problem with withdrawal. With Skrill or NETELLER, you can receive funds instantly.

So, the process looks like this:

  • Increase limits at a poker room, if needed before withdrawal.
  • Withdraw to Skrill or NETELLER.
  • Withdraw from e-Wallet to your bank account*.
* Skrill charges a €5.50 fee for this operation, NETELLER fee is $10. You can remove these fees by obtaining a VIP status for your account.

The minimum withdrawal amount is $40, with no maximum limit.

Residents of authorized European Economic Area (EEA) countries can order a Skrill Prepaid Mastercard® or Net+ Prepaid Mastercard®. A commission fee for withdrawal to these cards is 0-1.75%, depending on the level of your account.

How to cash out large amounts

What if you have won a lot of money or hit some jackpot? Congratulations, but now you need to find a way to cash out.

First of all, make sure all taxes are paid, talk to an accountant or a lawyer. Usually, when making a transaction over $10k, customers receive many questions from their bank. So you should be ready to explain where’s the money coming from.

If you still have difficulty to withdraw a large amount of money we will treat your case individually and provide you with any assistance.
 

Just fill out the form below



When using material from this site link to the source is required.

Like the article? Share it!
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •