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Verify Source of Funds in Casinos

Source of Funds: Why Online Casinos Verify Their Customers

As of last year, there are new rules that require all UK online casinos by law to verify their customers. Players are asked to submit documents which prove their identity, address, and source of funds. There is no exception!

These documents can include copies of your passport, driver’s license or citizenship card, as well as copies of a recent utility bill or bank statement that shows your current address. For the source of funds verification, you might be asked to send copies of your debit or credit card, and bank statements.

Please note: Although you might feel hesitant to submit such sensitive information to an online casino, the new rules were established by the UK’s Gambling Commission to protect you as a customer and prevent credit card fraud and money laundering!

The verification process can take anywhere from a couple of hours to two days, depending on the casino site. We’ve tested several brands and found the following five sites to be the best in terms of communication and efficiency. It comes at no surprise that all five of them were among the UK’s most popular online casinos in the last year.

Best Casinos for Player Verification

  1. 1
    £100 Terms
    300 Times
  2. 2
    £100 Terms
    150 Times
  3. 3
    £200 Terms
    200 Times
  4. 4
    80 Times
  5. 5
    £200 Terms
    200 Times

How did the rules around ‘source of funds’ changed?

Document VerificationEarning a huge win from an online casino can be a cause for celebration. You’ve won the jackpot, hit the huge payout and you couldn’t be happier. However, this happiness was often short-lived.

At the beginning of last year, players were frequently told soon after landing a win that their online casino wouldn’t pay them until they verified where their funds came from. Online casinos were always required to do so, but often they waited until you won big rather than completing the process straightaway. Handy, right?

In May 2019, the UK Gambling Commission launched new age and identity verification measures that require all players to verify their account immediately. It’s for that reason that you as a player cannot demo any game and, of course, make a deposit, until your identity is verified.

The entire process is a bit painful, but ultimately, it’s for your own protection, and as long as you sign up with a trustworthy, brand, there is nothing to worry about. We do recommend to stick with your online casino of choice once you completed the verification process as each time you register with a new operator, you will have to go through the steps again.

For those that are interested: The following content was written before the UK Gambling Commission implemented its new rules regarding age and identity verification and no longer apply in 2020.

UK Gambling Commission

The UK Gambling Commission, who licenses and regulates online casinos that operate in the nation, has urged casinos to be more careful about money laundering and fraud in connection with their customers in recent years.

The Commission ruled that casinos should verify the funds of players. They can do this by either verifying their funds upon registration or when a customer approaches a deposit, spend or win of around £2000. Many casinos know that demanding players to verify their income at or just after registration can be daunting and scare potential customers off, so they wait until a customer lands a large win or meets the other criteria.

Proof of Casino Funds

Many customers are left upset when their online casino refuses to pay out winnings and instead demands to see evidence of their money.

Customers who filled the criteria receive an email from their online casino asking them to provide proof of their funds. They might have been registered and playing with their casino for months or maybe even years before they were asked the question, leading customers to wonder why the casinos are only just asking now.

As mentioned above, casinos wait until players score a large win or when they’ve hit specific criteria to question them. Players who have had trouble making wins or have just played casually over a long period of time may get agitated when asked the demanding question and this could even put them off from playing in the future or cause them to leave for a competitor casino.

Waiting until a customer has made a large win means the customer will be more eager to provide evidence as they want their winnings to be paid out. This means that casinos can keep demanding personal information from customers in what quickly becomes a frustrating experience.

The Evidence

Many customers who have been asked about their casino funds have been asked to provide different forms of evidence. This can include:

  • Proof of earnings including payslips, director remunerations, dividends or pensions.
  • Bank statements or savings account that shows consistent incoming values from a reliable source.
  • A trust deed that shows a consistent entitlement to funds.
  • An account statement showing funds won from another company.
  • Dated proof of an award or payment made to the customer.
  • Other clear evidence that shows “affordability” in relation to the casino.

However, one piece of evidence may not be enough for some casinos who continue to demand more and more despite having enough. Even after supplying casinos with sufficient evidence, some customers have reported that casinos ignore their emails or are vague and helpful during live chats.

Some customers even reported that the casino later fell silent after claiming to be “reviewing” the customer’s account.

Closing Accounts

Close AccountMeanwhile, other customers reported that the casino refused to accept their evidence and decided to close the player’s account. This resulted in the customer losing their winnings and having their initial deposit refunded back to them, but not the money they had previously spent at the casino.

Reading the terms and conditions of many online casinos reveal that users have a limited time in which they can provide sufficient evidence to the casino but due to their often slow replies it can be hard to get this done.

Meanwhile, if players refuse to provide evidence or are unable to do so in the allocated time, the casino can ban them from depositing more money or close their account completely.

This has angered many players who have played with their own hard-earned money. It’s actually resulted in many players leaving their online casinos after months or years of loyalty and playing somewhere new in the hopes that it won’t happen again, but it does.

Personal Information

Some casinos demand an abundance of proof despite not actually needing it. They demand payslips, bank statements and much more from the customer who complies because they want their winnings paid out.

A few of these casinos then take the personal information found in the documents and sell them on to third-parties. The information sold can include where customers enjoy shopping, their address, interests and much more, all taken from bank statements and other forms of “evidence”.

To avoid this happening, customers should only send small pieces of evidence at a time and black-out any information that the casino doesn’t require to validate funds. Most casinos would be happy with a copy of the customer’s tax return and shouldn’t ask for any more evidence.

If the casinos repeatedly demand evidence, it could be that they’re trying to avoid paying out winnings. However, if you, as the customer, decides to continue sending proof, remember to provide the minimal evidence needed and to remove any personal information you wouldn’t want the casino, or any other company, to know.

Please do remember that it’s a legal requirement for casinos to verify players’ casino funds and the vast majority would not sell personal information to third-parties. However, we want to be open with you so be aware that there might be some odd companies.