Betway Withdrawal Methods - Bank Transfer - Neteller - PayPal - Sofort

Betway Withdrawal Guide - Payment Options for 2022

Last Updated: 18 July 2022, Author: AceOdds.com

With eWallets, you can transfer money in 2 - 24 hours or 1 - 2 banking days for Bank Transfers and Debit Cards. A minimum of £5 must be withdrawn from your Betway account.

When you add funds to your Betway account to play online games or place bets, there’s no guarantee that you’ll see it again. That’s the way with gambling. However, if you have funds to withdraw, use this article to guide you through the process.

If you’re planning to play or bet again, check out the Betway bonus offers. Promotional offers are a great way to get the most from your funds, however, some require a new deposit to be made.

If you see a nice and healthy balance in your account, make sure it’s not made up of Bet Credits because you cannot withdraw them. You must play any Bet Credits in your account. Also, if you have already used a promotional offer, ensure you’ve covered all the minimum play requirements. Some promotions need you to play several times before you can withdraw any winnings. While Betway may let you withdraw sooner, you would lose the Bonus Credits.

One of the reasons these withdrawal articles are a must-read is because of the closed-loop policy. Due to regulations, you must withdraw funds using the same method you deposited. However, this only applies to the deposited amount.

The grey area with this policy is that not all online gaming sites allow you to withdraw funds in the same ways as you can deposit. In this case, you’ll need to request a Bank Transfer, which could lead to additional fees. This would apply to Rapid Transfer, Sofort and Vyne, which are Betway deposit methods but aren’t available when requesting a withdrawal.

Sort by:
Method Processing Time Min Max Fee
Debit Card, Visa, MasterCard, Maestro, Electron
Debit Card, Visa, MasterCard, Maestro, Electron
1 - 2 Business Days £5.00 - Free
Bank Transfer
Bank Transfer
1 - 2 Business Days £5.00 - Free
NETELLER
NETELLER
2 - 24 Hours £5.00 - Free
PayPal
PayPal
2 - 24 Hours £5.00 - Free
Sofort
Sofort
2 - 24 Hours £5.00 - Free

Debit Card

Withdraw a minimum of £5 and see funds in your bank account in 1 - 2 business days.

If you deposited funds via Debit Card, the details would automatically be populated when using that withdrawal method. We deposited funds into our Betway account via PayPal. As such, when we clicked on the Debit Card withdrawal method, we received a message stating that we must first deposit funds via this method to be able to use it for a withdrawal.

This restriction isn’t because of the closed-loop policy since you can choose an alternative method once you’ve closed the loop. Instead, it’s due to verification of the card details, which requires a successful deposit before a withdrawal will be approved.

Bank Transfer

With a minimum withdrawal of £5, local transfers will clear in 1 - 2 business days.

Bank-to-bank transfers are considered one of the most secure ways to send funds. If the payment loop is closed, you can choose this method without depositing funds. Bank Transfers are also the backup withdrawal method should your deposit method not be available for withdrawals. 

The 1 - 2 business day transfer time is quite speedy, with other online gaming sites suggesting a 3 - 5 day transfer window. Keep in mind that business days don’t include weekends and bank holidays.

Neteller

Must be used to deposit funds before being approved as a deposit method. Withdraw a minimum of £5; funds will clear in 2 - 24 hours.

As with Debit Cards, you must first deposit funds into your Betway account before using Neteller for withdrawals. However, once in use, as en eWallet it’s one of the fastest ways to withdraw your funds, clearing in 2 - 24 hours.

PayPal

Withdraw a minimum of £5, and funds will be in your eWallet in 2 - 24 hours.

Since we used PayPal to deposit, we cannot say whether there would be restrictions on withdrawing. However, given what we’ve seen with Debit Cards and Neteller, it’s likely that you’ll need to deposit funds via PayPal before you can use it as a withdrawal method.

This restriction isn’t something we come across with every online gaming platform. Still, from going through the process ourselves, Betway appears to seek verification of your payment methods by depositing funds before you can withdraw them.

Trustly

Must be used as a deposit method before you can withdraw. Funds will reach your bank in 1 - 2 business days, and a minimum of £5 can be requested.

Even though Trustly is a third party that links to your bank account and moves money via Bank Transfer, Betway requires the Trustly platform to be used as a deposit method before it becomes a valid withdrawal method.

Betway lists Bank Transfers as taking 1 - 2 days to clear. Trustly’s involvement is supposed to make this instant. However, since Betway doesn’t list the times for individual methods, it’s worth anticipating this longer transfer time.

How to Withdraw Funds

As with depositing funds into your Betway account, there are two ways to get to the withdrawal section.

Betway Bank Menu
Accessing the Bank Options from the Main Menu

The Bank icon will take you straight to a page where you can deposit or withdraw funds. Select the method and amount and follow the instructions on the screen.

The other method to use is when you want to see the full details of your Betway account. The total figure in the above image is a whole balance. However, if it includes Bonuses, you can’t withdraw it all.

Betway withdrawal menu
Viewing your full Withdrawal options on Betway

By clicking on the figure next to the Bank icon, which in this case is £5, you can get a full breakdown of your balance. Our balance is entirely cash, and we could withdraw the full £5.

In some cases, we’ve found that it’s possible to withdraw less than the specified minimum from a gaming site. To do so, you need to make contact and pay a fee. However, in Betway’s troubleshooting section, they specify that it’s not possible to withdraw less than £5.

Always Bet Responsibly

It's tempting to spend the winnings in your Betway account. As we mentioned at the beginning of this article, always take advantage of the promotional offers listed on AceOdds to get the best deals.

However, caution is always advised. Winning once doesn't mean you'll win again, and it's important to remember the limits that you set for yourself. Betting with funds comprised of winnings doesn't feel like you're spending extra money. You're not, but you should always ask yourself if those winnings are better sitting in your bank.

Unaccepted Withdrawal Methods

It's worth reiterating that even though you can deposit funds via Rapid Transfer, Sofort and Vyne, they're not listed as withdrawal methods. In this case, you would have to request your money via Bank Transfer, which may involve contacting Betway's customer support.

  • Alternative eWallets - PayPal and Neteller are the only eWallets you can use for withdrawing your Betway funds. When depositing, you could've accessed your Skrill eWallet via Rapid Transfer. However, Rapid Transfer isn't listed as a withdrawal method. 
  • Paysafecard - Neither a Betway deposit nor withdrawal method, the Paysafecard is widely used on gaming sites. Made up of cash vouchers, you withdraw to your Paysafecard, and then you can spend your winnings in various online stores.
  • Apple Pay - Even though you can download the Betway app to your Apple device, Apple Pay is neither a withdrawal nor deposit method. 
  • Google Pay - Essentially, like Apple Pay, but for Android users, you cannot use Google Pay as a deposit or withdrawal method with Betway.
  • Dedicated Card - When an online gaming site has its own card powered by Visa or MasterCard, you can withdraw the cash in your online gaming account at an ATM. However, at this time, Betway doesn't offer this service.
  • Cash - You'll only find Betway in the virtual world, accessed via your computer, phone or tablet. As such, you cannot withdraw money in person.
  • Credit Card - Credit Cards have not been accepted as a withdrawal or deposit method for gaming sites since April 2020, when UK regulations changed.

Betway Withdrawal FAQs

Betway does not allow you to cancel a withdrawal request as part of their safer gambling approach. If you request to withdraw, you cannot change your mind and re-wager the funds. You would have to add more funds by depositing them from scratch.

It is possible to withdraw the entire cash balance at any time. However, if a bonus in your account is linked to an offer that requires additional plays, that bonus would be forfeit.

In most cases, Betway will verify your details at account creation. In this guide, we give you tips on how to avoid verification issues. If you find yourself in a position where Betway has requested additional verification, Betway will seek to do this via electronic submission.

If the method you used for depositing funds into your Betway isn’t available as a withdrawal method, you will have to use a Bank Transfer. You will need to contact Betway’s customer support if you have trouble with the request due to the closed-loop policy.

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Last Updated: 18 July 2022, Published: 18 July 2022