Banking Options for Casinos in Canada
Among the most important features for online gamblers is the ease and security with which they can deposit and withdraw money. The banking options offered, in fact are one of the key draws of any online casino, and should be closely examined before committing to a site.
Basically, when it comes to payment methods, you can deposit or withdraw money to and from a casino either by using a credit card, prepaid card, bank wire or other internet banking method. One great way for Canadian players in particular to bank is with Instadebit, an e-wallet designed specifically for Canadian use.
To get started playing right away, check out our list of Best Casinos for All Payment methods in the table below. For more detailed information on particular banking methods, choose from the following list.
Best Casinos for All Payment Methods
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Popular Ways to Bank Online
One of the most popular ways to bank at an online casino is with a credit card. All you need to do is enter your credit card information and personal information, and your funds will be instantly added securely to your account.
Among the best credit cards to use at online casinos in Canada are:
VISA allows you to make deposits and withdrawals without any trouble. Visa is accepted at most online casinos in Canada, and you can also finds special offers and bonuses for banking with Visa at a casino on our Visa Casinos page.
MasterCard is also great for deposits, but does not allow Canadian players to make withdrawals from the casinos. You can, however, choose another banking method to make your withdrawals if you prefer using MasterCard.
Ease of Use: Using a credit card is one of the quickest ways to deposit funds at an online casino. Opting for credit card payments over debit cards means you can deposit more funds than you have in your bank account, if you choose to go that route. We don’t recommend doing so, as a big part of being a responsible player is managing your budget. It’s best to set a weekly spending limit, and stick to it!
Safety and Security: Credit cards are safer and more secure than debit cards. The Financial Consumer Agency of Canada ensures that consumers who choose to opt for credit card payments are fully protected.
Withdrawing Your Winnings: A slight disadvantage to opting for credit card has to do with payment withdrawals, as withdrawing winnings may take slightly longer. In some cases, you may be waiting for up to five days to receive your winnings.
Casino Banking with E-Wallets
If you don’t have a credit card, there are other easy ways to fund your casino account and withdraw your winnings, including Click2Pay, ECO, ClickAndBuy.
An extremely popular banking method in Canada are e-wallets, which let you deposit and withdraw money, to and from a casino, without having to disclose your credit card or personal banking information. You can get money into an e-wallet using your bank account, or by receiving transfers from other parties. Once funded, the e-wallet can be directly linked to casinos for easy payments. Some customers feel more secure with trusted e-wallets, because e-wallets keep credit card numbers and bank account information in customers’ hands.
Popular E-Wallets Include:
PayPal is best for players looking for flexibility and ease-of-use when it comes to banking with an online casino in Canada. See our PayPal Casinos page for more information.
Instadebit – Instadebit is designed specifically for banking between Canadian players and casinos, making it a seamless and secure online casino banking option. Visit Instadebit casinos for more info.
It’s also a wise idea to keep an eye on cryptocurrencies like Bitcoin. Some casino sites only accept cryptocurrencies for banking purposes, because they can be used from anywhere in the world, and players don’t need to think about fluctuating exchange rates. Cryptocurrency payments are also swift, safe, and secure. Bitcoin is becoming such a major player in online industries, that developers are now making games that can only be played using Bitcoins. Cryptocurrencies could one day be the only method of paying for things online.
Instant Banking at Casinos in Canada
You can link your bank account directly to a casino with instant banking by providing basic information like your bank account number and/or cheque book number. Available for both deposits and withdrawals, processing times are usually a bit longer than you’ll find when using an e-wallet. eCheck and UseMyFunds are both great ways to bank instantly at online casinos in Canada, so be sure to check them out.
Casino Bank Wire Transfers
To process a bank transfer, contact your financial institution and let them know you wish to transfer money from your account directly to an online casino in Canada. More information about bank transfers can be found on the banking page of any online gambling site.
If you don’t have a bank account or credit card, you can use what are called pre-paid cards or sometimes MoneyPaks. These are used like credit cards, but can be purchased at stores with cash. To use pre-paid cards at an online casino, select this payment method in the casino cashier, and then enter the card number and pin number given to you when you purchased the pre-paid card One of the most common pre-paid cards in Canada is uKash. Other popular examples include Visa Vanilla and Entropay.
Where To Get a Pre-Paid Card: Pre-paid cards cards can be bought anywhere. In gas stations, chain stores like Metro, Walmart, Loblaws, Target, Sobeys, as well as in local grocery stores.
Depositing at a Casino in Canada
Keep in mind, most of the casinos we recommend support most, if not all, of the below methods, but the best is probably Royal Vegas, which is far better in regards to the speed in which you can deposit and withdraw your winnings.
Some people may have reservations about depositing their hard-earned cash at an online casino. Luckily for you, we have vetted a multitude of sites for Canadian customers and made sure that they are 100% safe, genuine, and above board. Using our website to select an online casino to play at is your safest option, but if you want to check out some sites of your own, just look for operators that have been accredited by international gambling authorities.
When depositing at an online casino, you will usually have a number of different payment methods available to choose from. This means you can select the one which best suits your needs. The main payment methods you’ll find at Canada’s best online casinos include credit card, debit card, PayPal, and more recently, cryptocurrencies like bitcoin.
When you first join an online casino, make sure that you check to see if there are any deposit match bonuses for new customers. In our list of online casinos, nearly all of them offer this kind of promotion. Jackpot City, for instance, offers a match bonus up to $1600 over the first few deposits. Leo Vegas offers a $1000 match bonus along with 222 free spins. Be careful to read the terms and conditions before depositing your funds, and make sure you follow the correct procedure required to activate the bonuses.
Withdrawing Your Winnings From a Casino
Withdrawing from an online casino in Canada is quick and hassle-free. Most casinos prefer to return your money in the same manner you delivered it, however, processing times can vary depending on the banking method you choose.
How Long Does it Take To Withdraw Money: Most casinos have process withdrawals within 24 hours. Other sites may have you waiting anywhere from a day or two, or to a week or more. Consult our casino reviews, or your casino’s banking page, to find out more waiting times.
Wagering Requirements: If you accepted a Welcome Bonus when you signed up, you should check the terms and conditions for the wagering requirements to withdraw that bonus. Casinos require players to gamble through such bonuses a certain number of times before withdrawing — for instance, if you get a $100 with a x15 wagering requirement, you must gamble $1,500 before withdrawing your bonus. You can consult our casino reviews or the terms and conditions of the casino.
Flushing Bonuses: If you manage to gamble through the wagering requirements and wind up with a profit, often times casinos will only offer a limited window in which to either withdraw the bonus winnings or transfer them into your standard gambling account. If players do not claim these winnings or credits before that window closes, the casino will “flush” the bonus.
Documents and Why They’re Needed: Security isn’t just a point of concern for you, the player, but also the casino. In order to verify that withdrawals go to the person operating the account, some casinos require some documentation from the player before releasing payments. For instance, at All Slots, some players are asked to show a copy of a government-issued identity card (driver’s license or passport) and a copy of a recent utility bill.
FAQs About Casino Payment Methods
Online casinos are certainly leading the way when it comes to varied payment options.
There are now so many ways to top up funds at an online casino that there is bound to be an ideal method to suit your needs, whoever you are. For those that still may be unsure about depositing money at a site, you can rest assured that it’s a safe bet when you play at any of the online casinos on our list.