How Long Do Singapore Pools Withdrawals Take?

Singapore Pools is a state-owned Singaporean lottery subsidiary. It is the only operator legally able to run lotteries in Singapore because it is a wholly-owned subsidiary of the Tote Board. They are a world-class, socially conscious gaming firm recognised by the community and trusted by its customers. They provide safe and trusted betting to counter illegal gambling.

HOW LONG DO SINGAPORE POOLS WITHDRAWALS TAKE?

Using a bank link

Setting up a bank link enables you to deposit any winnings from the Singapore Pools account to the bank account immediately. For each withdrawal, a fee of $0.10 is charged.

After successful online submission, you will be instantly informed of the application status if you set up a bank link through your Singapore Pools Account and the online banking service.

If you mail the Request for Direct Debit Payment Authorisation Application, it will take 14 working days to process, and you will receive an SMS once the bank link has been activated. This is because deposits and withdrawals via bank link are both instantaneous.

Withdrawal of funds in cash or by check

Within 48 hours of submitting a withdrawal request, provide the NRIC or an official document stating your FIN. Before going to the counter to receive your funds in person, you must fill out a withdrawal form at the branch.

HOW DO I REGISTER FOR A SINGAPORE POOLS ACCOUNT?

You can either visit the Singapore Pools branch and the NRIC or any official document including your FIN to verify the information supplied or log into your account via an online video call to authenticate your identity. You’ll need to submit evidence of residential address for FIN holders.

Next, go to the Singapore pools website, click on the “Sign Up” button and fill out the form by following the guidelines to create an account. Enter a unique username and password followed by your name, date of birth, address, and mobile number. You’ll receive an OTP on your phone number, which you’ll enter along with pictures of some documents to verify your account.

You need the following documents to open a Singapore Pools account:
be a Permanent Resident or Singapore Citizen;
be 21 years old at least;
or be a foreigner living in Singapore having a valid Singapore Foreign Identification Number (FIN)

WHAT ARE THE PAYMENT METHODS FOR SINGAPORE POOLS?

Singapore Pools Deposit Methods

You can deposit money into your account in one of four ways.
online, via a banking link
eNETS online (Internet banking users can use eNETS to make real-time payments from their bank accounts. OCBC, DBS/POSB, Standard Chartered Bank, and UOB are participating banks.)
Top-Up Cards can be purchased at retail shops and used online.
Singapore Pools branches accept cash or NETS deposits.

Singapore Pools Withdrawal Methods

There are two ways to get your money back.
Through bank connection, which is accessible at any time.
By submitting an online request and then picking up monies at a Singapore Pools branch following filling out the withdrawal form.

HOW CAN I WITHDRAW FROM SINGAPORE POOLS ACCOUNT?

After filing a withdrawal request, you can collect payments from the Singapore Pools Account by visiting a Singapore Pools branch. The whole account balance, or a minimum of $100 in multiples of $10, is required for withdrawals. There are multiple withdrawal methods at Singapore Pools:

Make an online withdrawal request.

Select the symbol next to your username after signing into your account. On the left navigation, click Withdrawals.
Enter the amount of your withdrawal and your password.
Choose ‘Submit’ from the drop-down menu.

After submitting a withdrawal request, the withdrawal sum will not be available for betting. To make the funds accessible for betting again, you can cancel a withdrawal request online.

A withdrawal request is only valid for 48 hours. The request will expire if monies are not collected by then, and a new submission will be necessary.

Collection of cash or checks

Within 48 hours of the withdrawal request, bring the NRIC or any other official document containing your FIN. Before going to the counter to receive the amount in person, you must fill out a withdrawal form at the branch.

Bank Link

Setting up a bank link enables winnings to be transferred from the Singapore Pools account to the bank account. Every bank link transfer incurs a $0.10 cost. You can either apply online or download and complete the Request for Direct Debit Payment Authorisation Form to set up a bank link and mail it.

IS THERE A DEPOSIT AND WITHDRAWAL LIMIT FOR SINGAPORE POOLS?

Each bank link transfer is subject to a transaction charge cap of up to $200,000 per transaction. In addition, the transfer is also dependent upon the Monthly Deposit Limit regarding deposits.

Summary

The withdrawals and deposits are instant using Bank link with Direct Debit Payment requests taking around 14 days, whereas check and cash requests may take 48 hours.

The post How Long Do Singapore Pools Withdrawals Take? appeared first on Betting Gods.

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