PayID allows users in Australia to deposit and withdraw funds from their casino accounts without revealing their bank details. It serves as a bridge between the bank and the casino.
However, Aussies wonder if there are any hidden fees associated with PayID. The platform is generally free to use for withdrawals, but is this always the case? This article will review the concealed PayID transaction fees at online casinos for Australians and how to avoid such fees.
Before we dive into the specifics, we’d like to thank the PayID-Casinos.com team for their support with research for this article.
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Potential Fees for PayID Users at Aussie Casinos
Normally, PayID is free for all users and easy to use. You just need to register your email address or phone number to use the service. However, while the service is free, there may be some charges, either from the casino or bank, due to currency conversion.
Currency conversion fees
If you opt for a different currency besides the Australian dollar, then the casino or even your bank may charge you some fees for currency conversion.
Casinos often allow their users to transact in currencies of their choosing. They then exchange the currency, so the user can get their preferred currency.
Besides the Australian dollar, casinos support other currencies like pounds, USD, and euros. If you choose to use any other currency in Aussie casinos, then you’ll likely pay a fee for currency conversion.
Casinos often convert the currency using the value or the nearest exchange rate. If you want to avoid paying such fees, it is advisable to find out if the casino charges fees for currency conversion and how much it costs.
Or better still, only use the Australian dollar for your casino transactions. Most times, the conversion fee ranges from 1% to 3% of the total amount. So it will barely dent your withdrawal amount.
Casino fees
Some casinos may also charge a fee when a player wants to withdraw funds from their casino account. While it isn’t common, you’ll still find casinos that charge fees for withdrawing funds.
The fee is often based on a percentage; in some cases, it never exceeds a certain amount. A fixed fee is also possible, but it is rare. In this case, the fee is never smaller or bigger, just the same for every single withdrawal.
On the other hand, percentage-based fees may come with a fixed maximum or minimum amount. If it is a fixed minimum fee, the fee will always be as high as A$2, regardless of the percentage.
For opposite transactions with maximum transaction fees, the amount may surpass A$2 but will never be higher than A$20.
Before every transaction, you may be able to see the total fee you need to pay for the transaction, so you can decide whether to go ahead or cancel.
Multiple withdrawal fees
Some casinos allow players to withdraw money from their accounts without paying a fee. However, withdrawing multiple times may attract a fee at some casinos.
It is important to note that the fee depends on the payment type. It may not apply to your preferred methods. However, you can still avoid such fees by reducing the number of times you withdraw monthly.
You can also wait until you have a tangible sum in your casino account, so you don’t have to withdraw too often. There is also the option of checking which payment method is unrestricted, regardless of how many times you withdraw in a month.
How to Avoid Hidden Fees for PayID Casino Transactions
If a casino charges a fee for either converting currency or withdrawing funds, there is no way to avoid paying those fees. It is better to research the casino and its potential fees thoroughly before opening an account with them.
If possible, verify which fees are applicable to your preferred payment methods. You should be able to find this information in the frequently asked questions section of the casino.
However, if you cannot find this information, contact the customer support team directly. They will give you a clearer idea of the fee structure or direct you to where to find it.
Conclusion
It is always better to avoid paying fees as much as possible at online casinos. This is why you need to do your research to know if you’ll need to pay fees in the future and what type.
Aussie players who use PayID may be required to pay fees for currency conversion, multiple withdrawals, and standard casino withdrawal fees. These fees are not avoidable when you sign up. So do your best to check the casino terms first.
Also, gambling is a serious addiction, so if you or your family have gambling problems, contact the National Gambling Helpline at 1800 858 85. Support is available 24/7 whenever you need it.
