Payment Methods

Canada is one of the countries where gambling is backed by law with an online gambling market worth over CA$30 billion. Because of the conducive environment provided by the government for gambling, the gambling industry has grown over the years in Canada, as players are allowed to play both at country-based and offshore licensed operators.

A key contributor to this amazing record is the many casino payment methods, both in Canada and overseas. The list continues to expand and interestingly, most of the popular methods of depositing and withdrawing funds support the Canadian dollar. In some cases, using a particular payment method will qualify you for a casino bonus, such as a deposit bonus, signup bonus, cashback bonus or free spins.

Generally, real money online casinos in Canada offer seven major payment methods – eWallets, prepaid cards, credit cards, debit cards, mobile payments, bank transfers and instant banking. It is important to know that the processing time for deposits and withdrawals vary from casino to casino.

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Credit Cards

Over the years, Visa and MasterCard have become household names for making payments at online casinos. However, in recent times banks are beginning to reject transactions linked to casinos at alarming rates. This is because banks no longer want to associate themselves with online gambling.
It is still possible to use credit cards with some casinos, but the risks are too high. Players are better off making payments

Debit Cards

Some real money online casino Canada sites accept deposits made with Visa Electron or Maestro cards. These debit cards are linked to your bank account and are great alternatives to credit cards.

Using debit cards for gambling means tighter control over your deposits, as your available fund is checked whenever a transaction is to be made. The disadvantage of debit cards is that your bank statements will show all your transactions, making this method one of the least discreet.
On the positive side, debit cards are safe, fast and secure (SSL encryption). You can deposit into your real money online casino Canada account using debit cards and also withdraw back to your online bank account.

Prepaid Cards

This method of banking is suitable for players who don’t have an eWallet or a credit card or those who want to be in complete control of their bankroll. They can be bought at retail establishments in various denominations with a serial number or pin which the user is to input on the banking module after selecting their prepaid card type.
Below are some popular prepaid cards:
• Paysafecard
• Vanilla prepaid
• Neosurf
• Revolut
• Astropay
• Flexepin

Bank Wire Transfer

Although this is an old banking method, it is still effective, especially for punters whose banks are efficient. Players can reach out to their bank and provide them with the casino’s bank wire details ( this can be found on the casino’s banking page). In case you may be wondering how secure this method is, you won’t be giving the casino your banking details, so your money is safe.

Mobile Payment

A lot of purchases can now be made via mobile devices, and as a result, mobile payments are fast becoming more popular. Today, you can find real money online casino Canada sites that will accept your payment through mobile payment operators. An excellent example is Boku. This operator has made it possible for players to fund their casino account through carrier billing. This service is supported in Canada by TELUS Mobility and Bell Canada.

Cryptocurrency

Cryptocurrencies provide anonymity for players who like their privacy. Transactions carried out using digital assets are secure and fast, making them quite appealing to Canadian players. Cryptocurrencies are not without some challenges, one being that they are yet to enjoy worldwide adoption. Also, players might find it complicated to convert the Canadian dollar to cryptocurrency.
Another problem with cryptocurrencies is volatility. This can result in losses for players who try to convert CAD to crypto in order to play at a casino and then converting it back to CAD. By the time the withdrawal process is over, the amount lost during the conversion can be devastating. We don’t advise inexperienced players to go for cryptocurrencies for these reasons. However, players who are conversant with the crypto space and already have crypto stored can make use of this fast and secure payment method.
Here are some digital assets that are accepted at online casino Canada real money sites:
• Bitcoin
• Bitcoin Cash
• Ethereum
• Ripple
• Litecoin
• Bitcoin Gold
• zCash
• Lisk
• Dash
• Tron

Instant Banking

The best banking option for Canadian players is instant banking. You don’t need to do much work here, simply link your bank details to the real money online casino Canada through a third party, which will provide a fast and seamless way for the transfer of funds.
In the payment or banking section, your cheque or banking numbers will be required, then you will be asked to choose the amount you want to deposit, and press submit. Shortly after that, your funds will appear on your casino account.
Below are instant banking options:
• IDebit
• Interac
• eCheck
• InstaDebit
• InPay
• Citadel
• PremierPay

Some Concepts You Must Know

  1. Verification: Our recommended real money online casino Canada sites are regulated by strict eGaming regulatory authorities, and as such, player verification is a step that cannot be bypassed. Player verification, also known as KYC (Know Your Customer) includes providing your bank statement, ID card or home address.
    The online casino Canada real money sites normally require verification when a player makes their first withdrawal. Those who cannot verify their personal details will not be allowed to withdraw their winnings.
  2. Pending Withdrawals: There are some delays associated with the withdrawal of funds from an online casino real money Canada site. Payments are not processed immediately. Most casinos can keep payments pending for a period of time.
    This means that you should factor in the pending withdrawal period if you want to get the actual time your winnings will be delivered to you.

Instant Banking

The best banking option for Canadian players is instant banking. You don’t need to do much work here, simply link your bank details to the real money online casino Canada through a third party, which will provide a fast and seamless way for the transfer of funds.
In the payment or banking section, your cheque or banking numbers will be required, then you will be asked to choose the amount you want to deposit, and press submit. Shortly after that, your funds will appear on your casino account.
Below are instant banking options:
• IDebit
• Interac
• eCheck
• InstaDebit
• InPay
• Citadel
• PremierPay

The Best Deposit and Withdrawal Methods For Canadians

Some of the above mentioned financial options cannot be used to make withdrawals. This may not be a problem for some players who prefer to stack their winnings so that they can stake higher. But for those who can’t wait to withdraw their money, it is a cause for concern.

Before you go ahead to make withdrawals from your casino account, ensure that you have a good understanding of the options available to you. If there is no way to get your funds out of the casino, and only deposits are allowed, you can always conduct your withdrawals using cheques.

Many Canadian players prefer to use eWallets, debit cards, and/or credit cards, because they offer both deposit and withdrawal services, and in addition, they are fast and secure. Players are, however, advised to pick only one payment method and stick to it, but to ensure that the chosen method can serve for both deposits and withdrawals.

Frequently asked questions

Which payment method is the most secured?

Every payment method mentioned in this guide is safe and secure. They don’t differ much from each other in terms of safety. The safety and privacy of players are of the utmost importance to them because their reputation is built on the provision of faultless financial services. These payment methods have fraud protection teams, identity protection, SSL encryption, among others to safeguard the transactions of players.

Are eWallets better than credit/debit cards?

Although they are all safe, eWallets are the better choice. Banks are fast distancing themselves from online gambling sites, which makes their services no longer what they used to be for punters. So at the moment, eWallets are more reliable for gambling.

Must I own a credit card?

No, you mustn’t. If you don’t own a credit card, there are other options available to you, like mobile payments, eWallets, cryptocurrency and others.

If my payment option supports only deposits, how can I withdraw?

If your payment method cannot make withdrawals, you can request that your money be paid via cheque. Some players also go ahead to open an account with a company that will assist them in withdrawals.

Which payment methods are the fastest?

The fastest payment methods are eWallets (Neteller, Skrill) and cryptocurrencies (Bitcoin, Tron). These will help you complete your deposits and withdrawals in no time. Next in line are credit cards and debit cards. While your deposit will be done instantly with these payment options, it will take a longer time for your withdrawal to appear in your bank account.

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