Payment methods, is one of the key areas in online casinos demanding careful consideration. To get the most out of playing at online casinos, you require widely accepted payment methods that are also, convenient, straightforward to use, fast, and above all, reliable.
These factors become extremely important when depositing funds into your casino account and even more vital when you wish to withdraw your winnings. Especially when considering withdrawal requests require up to 48 hours for processing by most online casinos and you don’t want your winnings to be delayed even further due to slow processing times at your financial institution.
The most common payment methods offered by online casinos range from common debit/credit cards to wire transfers, eWallets and cryptocurrencies. Each solution has its negatives and positives with some only offering their product to specific countries. There are also constant changes affecting payment method that occur within the online gaming industry. It’s for this reason that we decided to review the top 5 payment methods aimed towards Canadian players.
Interac is an extremely popular payment method most players in Canada are already familiar with. This payment method serves as an excellent option to pay for services and goods online with funds transferred directly from your Canadian bank account. What’s even more impressive is that the Interac electronic payment facility currently enjoys recognition at a variety of online casinos. This is the perfect payment method for online gambling fanatics as it raises no fear of amassing debt since each electronic transfer will only be successful if you have funds available in your bank account.
Interac comes equipped with a variety of advantages for gamblers in Canada. You can deposit in Canadian dollars, pay an extremely low flat rate regardless of your deposit amount, and above all receive your casino winnings in record time. You can also transfer funds to anyone with a mobile phone number or email address along with a Canadian bank account, while it offers the best in fraud because secure encryption ensures your transactions are both safe and secure.
When considering alternate payment methods currently available in Canada, Instadebit remains one of the best options. This Canadian company works in conjunction with Canadian banks, making it a quick and effortless way to deposit and withdraw funds to your bank account without incurring any unnecessary hassles.
There are loads of advantages when using Instadebit. Unlike other leading eWallets, Instadebit does not require you to upload any funds to your account it simply stands in to act as a privacy buffer between the sites receiving your funds and your bank account. This payment method even works with Canadian and US dollar-based bank accounts. Instadebit negates any need to share your bank details with any third parties and furthermore it requires no transaction fees with instant transacting of deposits.
iDebit is a trusted and popular payment method linked directly to your bank account. This payment method essentially facilitates, secures, and speeds up the transactions between the online casino of your choice and your bank account. iDebit is renowned for extremely quick processing of payments while offering low transactions fees to avoid any confusion. This is yet another valid payment method currently available in Canada as well as 20 other countries.
The biggest advantage of iDebit transactions are their inherent security and trustworthiness. Your personal and financial information stays private, never shared with online casinos, remaining strictly between iDebit and your bank. It only takes a few minutes to set up a new account and you don’t even need a credit card to qualify
Online casinos that accepted PayPal were a dime a dozen until 2003 when eBay successfully purchased PayPal and instituted ban against all online casino transactions across the globe. Fortunately, since 2010, PayPal has made a steady return to various online casinos around the world, including online casinos in Canada. PayPal is without a doubt one of the most successful payment methods thanks to the security it offers to online gamblers.
There are several advantages when using PayPal and the most popular reasons include instant deposits and quick withdrawals. Considered the most secure and trusted payment method in the world, allowing players to connect their PayPal accounts to their bank accounts as well as their credit cards.
The newest trend among players in the online gaming industry is utilizing the anonymity and resultant safety offered by a cryptocurrency such as Bitcoin. The main reason for its popularity at online casinos is the lack of a central regulating authority that may impose restrictions. One of the most popular ways for online casinos to attract users to their platform is offer free spins. For example, in return for a deposit to the casino, the user can receive 50 free spins. Bitcoin makes it easier and safer to deposit and withdraw funds compared to other payment methods. Unlike other currencies, Bitcoin does not have a central regulating authority and functions solely through the peer-to-peer marketplace.
The advantages to Bitcoin are phenomenal. There are no third parties involved when transacting online and your transactions are more secured thanks to anonymous play. In addition, there are also next to no fees involved, which together with the supreme security offered by its block chain transacting makes it to many as the payment method of the future.