In this post, we discuss some of the most widespread online banking methods for Canada, with the focus on online casino gambling. The methods listed also work perfectly for other online transactions and online shopping. If you are interested in safe and handy payments to and from online casinos, please check out this post.
Why You Should Choose Your Online Casino Payment Methods Early
There are several reasons to research the payment methods for Canadian online casinos and choose one carefully, assessing all pros and cons before even registering an account with the payment method, let alone the Internet casino account.
Besides the general nuances like which payment method is more convenient for each particular individual, which method has a better interface or app, etc., there are rules that online gambling sites apply to payments. And together with the payment methods’ rules, these rules combinations can turn out really tricky.
Firstly, there are fees. Most of the real money online casinos in Canada do not apply fees to deposits or withdrawals (okay, some do apply fees to certain withdrawals but this is an exception rather than the rule).
Secondly, there can be withdrawal issues. The catch is that Internet casino players usually expect they can choose different methods for deposits and for withdrawals, but this is not always the case.
However, the bigger percent of online gambling sites prefer to pay the winnings out back to the same source the customer used previously for depositing – like the Instadebit, but Instadebit works for transactions both to and from gambling sites. And some payment methods that fit for depositing – for example, prepaid vouchers – are impossible to use for withdrawals.
Therefore, one should double-check if the payment methods available to them and convenient for their transactions are actually allowed for both deposits and withdrawals, or if not, how every particular casino site offers to handle the problem.
And thirdly, almost all payment methods allow you to make a deposit within minutes, maximum within an hour, but the withdrawal time can be very different – from 24 hours to 10 business days. So, waiting time is another aspect to double-check when choosing a payment method for Internet casino gambling in Canada (and elsewhere, basically).
Canadian Payment Methods for Online Casinos
Online gambling sites in Canada usually offer an array of payment methods of different types, and the customers can choose banking options that are the most convenient for them. It must be mentioned that in Ontario and Alberta, the rules for payments can differ from other provinces due to the recently improved legislative background, so this is just something to keep in mind.
The Internet payment methods listed below are all online-casino friendly, but they are also very handy for other online payments.
Bank-Issues Plastic Cards
Bank-issued cards under the brands of Visa, Mastercard, Maestro, and American Express are all-time favorites among many players, especially the older population of Internet casino gamblers.
Most of the time, only debit cards are allowed for online gambling, and credit cards are not. Another pretty frequent rule is that most banks in Canada do not allow withdrawals to Visa and Mastercard plastic cards. Therefore, this option is only good for deposits.
Bank-Based Intermediate Services
The most popular and convenient services that facilitate payments between banks, customers, and Internet merchants are Instadebit, Interac, Trustly, and iDebit. These services are very handy for Canadians, many local banks work with them, and the best part?
One can withdraw money from online gambling sites directly to their bank accounts via each of these services. And these payment methods have very adequate fees.
One of the e-wallets that are gaining popularity in Canada these days is MuchBetter. This is a fully mobile solution that allows very flexible transactions that are safe and well-protected. One of its biggest advantages is that MuchBetter is fully online-casino friendly.
Other popular e-wallets are Skrill, Neteller, PayPal, and Paysafecard. However, their usage for Internet gambling constantly decreases.
Pre-paid vouchers, both physical and digital, are super-safe for Internet payments because they leave no trace to track the payer, let alone steal any of their personal information, and there is no risk of financial losses due to third-party breaches. In Canada, one of the most widespread vouchers is Neosurf. It can be used online with a paper voucher or the digital one with the code. You can make deposits to Internet gambling sites with it, but withdraw