Paysafecard launched in Austria in 2000 as a payment system based on the mobile phone top-up card where cash could be used to purchase a new card or fund an existing card. They also previously owned another cash pre-payment system called uKash, but this has since been phased out, making Paysafecard the only payment system of its kind. Paysafecard Holdings are owned by the Paysafe Group who also own the eWallet solutions Skrill and Neteller. This gives your Paysafecard voucher the same level of protection and rights as real cash. The Paysafecard brand and product is owned by Paysafecard Holdings Ltd UK and is authorised by the Financial Conduct Authority (FCA) through its subsidiary, Prepaid Services Company Ltd. You can pre-empt this and speed up the payment by uploading your documentation as soon as you register.
Therefore, it is highly likely that whatever the value of your first withdrawal you will be asked to provide verification documentation. With a debit card it is possible to perform soft ID checks on a new customer, but this is not the case with Paysafecard. Paysafecard Online casinos will normally perform ID checks when a customer requests their first withdrawal, or their first withdrawal above a certain threshold defined in their terms and conditions (usually around £2,000). When you make your first withdrawal you will almost certainly be asked to verify your account before the payment can be processed. You may wish to use one of the other payment methods for online casinos owned by Paysafegroup such as Neteller or Skrill. Instead, if you wish to make a withdrawal after using Paysafecard as your deposit method, then you will need to specify another payment option like debit card, or eWallet. It is not possible to withdraw funds using Paysafecard as online casinos do not distribute the vouchers. NOTE – you may have to agree to the terms and conditions to confirm your purchase.