When it comes to funding your online casino account Canadians have a plethora of great payment methods available to them here we have made a list of the most popular payment methods in Canada.
When you’re choosing a casino to play at, the banking options on offer are among the most important factors in your decision. Not only do you want a casino that accepts a wide range of Canadian friendly payment methods, you want to know that it’s going to be easy to move money in and out of your casino account.
Most casinos follow a fairly similar process for both deposits and withdrawals and it works something like this:
Depositing money into your casino account:
The casinos want to make it really easy for you to give them money so most offer instant deposits once you’ve signed up and created your casino account. You’ll need to transfer above the minimum deposit amount, which is usually $10 or $20 by going to the cashier or banking page, choosing your payment method and following the steps outlined. Once you’ve completed your deposit, the money should be there more or less immediately unless you’re depositing via bank transfer.
Withdrawing money from your casino account:
Withdrawals usually take a little longer than deposits, although there are a few casinos that are starting to offer instant payouts for players who use Neteller or other e-wallets. To make a withdrawal you will first need to ensure any wagering requirements have been met (if you’ve taken a bonus), then go to the banking section and click on Withdrawal or Payout. Your withdrawal will be made to the same payment method you deposited on and the time taken varies depending on the method used. The fastest withdrawal method is usually e-wallet, while the slowest is bank transfer or cheque. As a rule, you can expect your money within one to five days of requesting a withdrawal but check with the individual casino.
Credit is still king in this global economy, and that’s still the case in Canada as well. It’s simple and easy and you’ve already got an account set up. If you have an account in good standing then using your credit card and its low APR can be the easiest play, like passing the puck to Sydney Crosby as he flies past the red line with speed. But, if there’s a neutral zone trap sitting there blocking things up (credit card debt), you may want to choose another option to make your payments and withdrawals.
Our recommended credit card for casinos is VISA. You can read more about it on our VISA casinos page.
PayPal – Another popular payment option not just in Canada but all throughout the world and there’s a reason for that: it’s a great system and easy to figure out in just a matter of moments with seamless currency exchanges and low fees. If a credit card isn’t your cup of tea, PayPal may give you the caffeinated experience you need. Virtually all our top casino choices including Platinum Play accept PayPal as a payment method. Find out more at our PayPal Slot sites page.
Instadebit – Does exactly what its name implies it will: it instantly processes your request between your bank and the online casino account that you’ve started up or chosen to add further funds to. Because Instadebit acts like a debit card, it’s extremely popular payment method with Canadians, who know a good thing when they see it. Read more at our Instadebit casino page
UseMyBank – Another great option for a seamless payment transfer between your bank and your online casino’s account is UseMyBank. Like Instadebit, UseMyBank is fast, easy to use, and acts just like a debit card.
Click2Pay – A popular online payment method in Canad Click2Pay is also fast and easy to use, so you’ll only need a few moments to get everything set up and to be able to deposit directly into your casino account without paying any fees. Like PayPal all our recommended casinos such as Roxy Palace accept Click2Pay.
Bank wire transfer is one of the oldest payment methods around and while it’s fallen out of favour with many casino players there are a few people who still find bank wire the best way to fund their casino account. With a bank transfer, the money goes straight out of your bank account into the casino’s account rather than via a third party like a credit card or e-wallet.
Bank transfer is convenient for anyone who doesn’t have a credit card or any other payment method at their disposal. To use bank transfer to make a deposit you need to find out the casino’s banking information from their payments page and then either go into your online banking or fill out a physical form at your bank to initiate the transfer. Deposits can take a few days to arrive in your casino account using this method.
To withdraw using bank transfer you’ll need to request the withdrawal and enter your banking details. It can take up to a week to receive funds through a bank wire transfer from your casino account.
Overall, the pros of bank transfer as a payment method are that it’s safe and secure and it’s good for anyone who doesn’t have a credit or debit card. The cons are that it is slow and your bank may charge you a fee.
While the above five payment methods remain very popular in the land of the maple leaf, one formerly successful option, NETeller, has fallen off for various reasons, and, in fact, is no longer available to Canadian players.