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Canadian Casino Payment Methods

Canadian Casino Payment Methods

The most important step when you are setting up a casino gaming account is actually funding it. However, this might vary significantly across the various online casinos out there. As such, it is essential to look at the various methods available and to choose the safest one available for you.

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Man choosing online payment method

 

💳 iDebit: iDebit is one of the many electronic payment services available for online users. It is a secure payment method that lets you pay for purchases through online banking. 

💳 Interac: Interac is a Canadian interbank network that works by linking financial institutions with merchants and enterprises. Interac is a fast and efficient way to make payments online.

💳 Ecopayz: Ecopayz is a safe online payment service that allows you to send, receive, and spend money online without any geographic restrictions and without the need for credit checks.

💳 Credit Cards: The majority of online casinos will accept credit cards from major credit card companies. Credit cards are a safe and secure way to pay online and are accepted by a vast number of online casinos. 

💳 Skrill: Skrill is a safe and easy-to-use money transfer service that allows you to make instant online payments from anywhere in the world, to anywhere in the world.

💳 Neteller: Neteller is an e-money transfer service that is used by thousands around the world to transfer money to and from merchants. Users can withdraw funds directly from their Neteller account or initiate a bank transfer using the service. 

💳 PayPal: PayPal is very common online payment methods in the world. One of the main benefits of PayPal is its ready availability. You can use PayPal as a money transfer service and also as a location to store funds online, which can then be used to transfer money elsewhere. 

💸 How does banking at an online casino work?

Much like banking with conventional banks, online casino banking involves a third-party either storing your funds or processing a payment. Although we often only think of the person initiating the transfer and the casino receiving it, there might be several third-parties involved to make this process happen. For example, if you use an e-wallet or an e-transfer service, you will have to transfer funds to them before they can get passed on to the casino. Online casino banking services use high-level safety and security features we associate with conventional banks. 

💸How to Make a Deposit at an Online Casino?

1) Create an account with your casino of choice.

2) Make sure your account is fully verified and that there are no restrictions on it.

3) Go to the ‘payments’ tab and choose ‘deposit.’

4) Choose the deposit method and obtain the casino account details.

5) Open up the deposit service you want to use and input the casino’s account details.

6) Select the amount you wish to deposit and hit select.

7) Wait for the funds to hit your account and start playing!

💸 How to Withdraw Your Money at an Online Casino?

1) Login to your account.

2) Go to the ‘payments’ tab and select ‘withdrawal.’

3) Select what withdrawal method you want to use to make the withdrawal.

4) Carefully enter the account details of where you want the funds to end up.

5) Select the amount you want to withdraw and hit ‘complete.’

6) Wait for the funds to hit your account.

💸 Which Casino Payment Method is the Fastest?

By far the fastest way to get your money in and out of an online casino is to use an E-wallet for e.g. Skrill.  In general, E-wallet payments tend to clear in a few hours or less. On the flipside the slowest way to go about depositing or withdrawing money at a casino is to use wire transfers. Popular E-wallets for Canadian players include Skrill or Neteller.

 

MethodFeesCashout TimeDeposit Time
Paypal LogoYesUp to 24 HoursInstant
NETELLER IconNoUp to 12 hoursInstant
Skrill LogoNoUp to 24 hoursInstant
MasterCard LogoNo1-3 Banking DaysInstant
VISA No1-3 Banking DaysInstant
Bitcoin LogoNo1-2 days1 hour

💸 What Is an E-Wallet?

Much like a bank account, an e-wallet is an online account that stores funds you have deposited into it. You use it much like a bank account, the only difference being you can only use what you add into it. As the money is stored online, payments and transfers can be processed in an instant.

💸 How do E-wallets Work?

An e-wallet is essentially a pre-paid account that you can use to store money and transfer to merchants online. To use an e-wallet, simply add funds to your account and make a transfer to your online casino of choice. E-wallets are popular with users as transfers can be made in an instant. You can also use e-wallets like a bank account to store funds online, ready to use whenever you need them.

Casino Banking Questions for players in Canada

💳 Are online casino payments safe?

So long as you use a reputable third-party, online casino payments are very safe. However, you should be careful to keep your details and account logins hidden to avoid any unwanted access to your account.

💳 Who can help at a casino if I have a problem making a deposit or withdrawal?

If you run into a problem with a transfer, contact the customer support team immediately. The casino’s customer support team will generally be able to address most queries. However, in some cases, you may need to contact your bank.

💳 Does my location affect which payment method I can use?

Yes, while there are relatively few places where payment methods are restricted, you should still make sure you aren’t in one of these regions. Methods such as bank transfers and credit/debit cards are essentially universally accepted and can be used from anywhere in the world.

💳 Why aren't online casino payments made instantly?

Payments to or from online casinos processed through a third-party take several days to fully process, which is why they don’t appear in your account instantly. Conventional wire transfers are the slowest methods, while e-payment services can complete the transfers in a couple of hours. In the future, cryptocurrencies like Bitcoin might provide a solution to this issue as they can be fully processed instantly.

💳 Can I get paid in CA$?

Depending on the online casino in question, they may allow you to deposit to your account in your local currency— for instance Canadian dollars. If not, however, a conversion rate will be applied to your account automatically. In this case, you will earn money in, for example, USD, and then a conversion rate to CA$ will be applied once it hits your account. This may be different for all online casinos, and players are advised to check. SuperLenny will always advise players on casinos that accept Canadian dollars.