How do I cash out my bingo prizes? That's perhaps the most important question that needs to be asked by any online bingo player. There are unfortunately some scams out there, so it's in everyone's best interest to make sure they understand the cashing out process before playing. Which matches the players wish to win money in bingo games. This can be done by carefully looking over each site and reading the FAQ information about prizes. Details are usually listed in the “cashier” section of the site. Similarly, reading online bingo reviews can also be extremely helpful for beginners, as they can learn all about prizes and cashing out methods from other players.
Some sites have restrictions on both bonuses and prize money. If a player wins money by using their bonus cash, for instance, some sites will actually hold the prize money until the player makes a certain amount of deposits. This may not seem fair for some. For those who enjoy playing and plan on doing so a lot, however, this aspect really isn't that big of a deal. Some prefer playing just for fun, after all, and some are out there to earn money in online bingo.
Each site handles cash outs differently. Some are more strict, while others aren't picky with withdrawals at all. Those that are strict only do so for security reasons. There are sadly some players out there that try to cheat the system, which makes it harder on everybody. Still, withdrawing money prizes and transferring them to the bank account isn't necessarily difficult, at least for honest players. All they have to do is provide the bingo site with the essential documents to prove their identity.
Those who want to play bingo for money and earn money in online bingo need to sign up for sites that will allow them to cash out their winnings instantly, no matter how much. They need to make sure there are no wagering requirements involved. Usually, the actual process of cashing out bingo money can be done through a wire transfer or direct deposit into the winner's bank account. The amounts vary, as players can win anywhere from £5 - £300,000 depending on the site.
Obviously, a player must provide the bingo portal with accurate bank account information if he or she wishes for a bank transfer or direct bank deposit. This responsibility is placed solely on the player. Accurate, 100% details need to be provided about the winner's bank account. Some sites will allow winners to request a cheque in the mail or that the winnings be transferred toward an e-wallet account, such as Neteller, Click2Pay, or ClickandBuy.
There are plenty of other prizes, of course, such as: electronics, jewelry, free dinners, cruises, vacations, etc. These are obviously sent to the player's home, and depending on where he or she lives, tax reporting may be required on certain prizes. Some sites even have limitations on the amount that a player can win within a certain period of time. This is to ensure fairness for everyone. Huge jackpot prizes are usually an exception to this rule, since a player can win more money than the usual maximum in just one moment. They will be allowed to request the huge amount, although some sites require tax id's in addition to bank account information.