Online Canadian Payment Methods
As with much of what the internet revolution has brought about, online Canadian payment methods are more efficient than queuing at the cashier in a land-based casino. These virtual payment methods are one of the reasons why online casinos became so popular.
The convenience of playing anywhere you want is one thing. The opportunity to fund your bets and receive payouts just as freely is simply the icing on the cake. There are more online Canadian payment methods than ever before, and the top providers are always safe, secure, fast and free.
Types of Payment Methods
While the sheer number of available options is a significant discovery of its own, each provider has different functionalities, limits, and transaction processes. Check out the common types of gambling payment methods in the Canadian market.
- Visa: Popular in over 200 countries, Visa is one of Canada's go-to online casinos payment methods. Deposits at Visa casinos are instant, and there are often zero transaction fees.
- Mastercard: As one of the top credit/debit card payment brands in the world, Mastercard casinos are also rife at online casinos in Canada.
- American Express: Where available, AmEx offers top credits, fast service and fantastic cashback opportunities for players.
- Skrill: This e-wallet is easily accessible at the top online casinos. It is a fast and efficient online casino deposit method. It also caters to withdrawals, making it a complete gambling solution.
- Neteller: With a funded Neteller account, you can perform casino transactions and keep track of your casino spending. There are also tons of Neteller bonuses to claim and top Neteller games in Canada to enjoy.
- Ecopayz:Ecopayz Canadian casinos are some of the best gambling sites for players in Canada. This gambling payment method is Mastercard supported and very flexible for incoming and outgoing casino transactions.
- PayPal: This is arguably the number one e-wallet for online banking payments in Canada and the US. It's recently been gaining traction at Canadian online casinos and facilitates both deposits and withdrawals.
- Entropay: Entropay caters to online casino deposits. It requires players to create a free account online and is super easy to navigate.
- Paysafecard: Featuring a 16-PIN code, this is one of Canada's most secure online casinos payment methods. With Paysafecard, you can fund your account without credit/debit cards.
- Neosurf: This is strictly an online casino deposit method. It's perfect for small deposits, and Neosurf vouchers are readily available at physical and online locations across the country.
- Interac: Interac is one of the CAD payment methods that are specific to Canadians. It is integrated into major Canadian banks, and as a debit payment service, it's ideal for gambling since you can't overdraw your account.
- iDebit: With iDebit, all you need is a Canadian bank account. This payment method acts as an intermediary between your bank and the casino to promote fast, easy, safe, and free transactions. It's another one of the country-specific CAD payment methods.
- Trustly: This Swedish payment company provides instant internet banking services. Trustly facilitates bank to casino transfers without the need to create an account with the provider.
- Payforit: With this method, you can fund your casino account through your mobile service provider. The charges are added to your monthly billing or deducted from your pay-as-you-go balance, depending on the plan you use.
- Bitcoin: BTC promotes quick deposits and performs withdrawals that are just as fast. When you deposit with any of the available Bitcoin casinos in Canada, you don't need to disclose your bank details. This feature helps players remain anonymous.
Alternative Payment Methods
- Echeck: Although less widespread, there are plenty of online casinos with eCheck payment options. They are very secure and practical for large transactions.
- Zimpler: Zimpler is an internet banking method that incorporates mobile payment for a more efficient and accessible solution. Your Zimpler account links to your regular bank account, and you can authenticate transactions using the one-time code sent through SMS.
What Makes the Best Gambling Payment Methods
Online casinos payment methods are a primary criterion for choosing the best casinos. In the same way, there are key elements that define a good payment method. They include:
Canadian payment methods have deposit and withdrawal limits. Note that these limits are independent of the restrictions imposed by the casino operator. They determine the quantity of cash flow that can enter or leave your online banking account per transaction or in a given period and are controlled by the payment provider.
You should look out for wide limits that accommodate both low-stakes bettors and high rollers. A good range is between 5CAD and $4,000 per transaction. That said, some online casino deposit methods like prepaid cards and mobile billing options are specially designed to handle small transactions.
Transaction fees are sometimes inevitable, but where they exist, they should be minimal and not take a huge chunk out of your winnings. Fortunately, plenty of Canadian payment methods are fee-free.
While casino deposits have no problem being processed immediately, the same can't be said for payouts which have a habit of dragging out for long periods. When playing for real money, the transaction speed of the Canadian payment methods available is crucial. The best gambling payment methods should ensure that withdrawals are processed in the quickest possible time.
Not all online casino deposit methods are eligible for claiming bonus offers. This is a significant drawback for new players looking to receive a welcome bonus offer at a new site. You'll want to deposit with a provider that is eligible for bonus claiming. Sometimes, the top CAD payment methods will activate special promos when you deposit with them.
Safety and security are indispensable when financial transactions are concerned. The online casino is particularly prone to cybersecurity threats, so players' personal and banking information could be at risk if not adequately protected. Gambling payment methods should implement strong security measures ranging from malware protection to encryption protocols.
Overview of the Top Canadian Payment Methods
|Type||Method||Deposit Time||Withdrawal Time||Fees|
|American Express||Card||Instant||2-3 days||None|
|Ecopayz||E-wallet||Instant||24 hours||$1.69 - $1.29 to deposit into Ecopayz account|
|Idebit||Instant Banking||Instant||Instant||$2 from Bank to iDebit account|
|Trustly||Instant Banking||Instant||1-2 days||1.5%|
KYC – Know Your Customer
KYC is the process by which online casinos verify the identity of players. The primary motive is to help casinos to fish out duplicate accounts and curb underage gambling. The KYC procedure can either be carried out during registration or at the time you make a withdrawal request.
This is the main contributor to the delayed process of getting a payout. You will usually be asked to present a series of documents for verification, such as a form of identification, a utility bill to confirm your address, or a bank statement. But rest assured that this is only protocol for licensed and regulated operators.
Casinos may sometimes request additional documentation for further verification. However, if you've presented accurate data, the process should be as short as possible.
Modern Online Casino Payment Concepts – Pay ‘n Play
Pay ‘n Play is the latest online casino payment concept and is powered by Trustly. With Pay' n Play, you don't have to register an account to play for real money. The Pay 'n Play technology allows casinos to verify players' identities through online banking.
So you only have to make an initial deposit from your bank account, and you get direct access to play online games with real stakes. Pay' n Play technology also promotes greater security and speedy withdrawals.
CAD payment methods like Interac and iDebit are designed specifically for Canadians. Hence, they are widespread among players both for regular online banking and casino payments. However, International providers like Visa and Mastercard are largely popular too.
It is possible to apply for an extension of the max limit from your payment provider. But, ensure the casino's limits will also permit higher transactions.
Online casinos usually require you to withdraw with the same method used to deposit to prevent money laundering. Nevertheless, in exceptional cases like a lost debit card, the casino may allow you to use a different method.