When managing your funds on Bovada, it’s important to be aware of the various fees that may be incurred for deposit and withdrawal transactions, as these can affect your total cash out. Here’s what you need to know:
For Withdrawals:
- Check by Courier: Bovada imposes a $100 processing fee for every withdrawal via Check by Courier. Additionally, if a transaction inquiry is needed due to non-payment resulting from incorrect information provided by the user, a fee will be charged for this service1.
- Cash Money Wire Transfer: Withdrawal fees for wire transfers vary. They range from $20 to $60, depending on the amount being withdrawn, with the lowest expected fee being $402.
- Bitcoin Cash: If you opt for cryptocurrency withdrawals, such as Bitcoin Cash, Bovada does not charge a withdrawal fee. However, there may be a small network fee associated with the transaction, which is typical of blockchain transactions3.
For Deposits:
- Credit Card: Your first deposit made using any of Bovada’s accepted credit cards is free of charge. However, subsequent deposits come with fees that start at 15.9% and may be higher, depending on the card used4.
When considering the best methods for managing your money on Bovada, these charges are essential to keep in mind. Credit card users may benefit from the fee-free first deposit, but frequent depositors should be mindful of the high subsequent fees. For withdrawals, while traditional methods like checks and wire transfers come with significant fees, cryptocurrency transactions offer a more cost-effective route, with minimal to no fees attached.
It’s always advisable to review Bovada’s Help Center or contact their support for the most current information regarding fees, as these can change and may vary based on your location or changes in their policies.