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, pre-paid card, bank wire or other internet banking method, which will be discussed below. One great way for Canadian players in particular to bank is with Instadebit, an e-wallet designed specifically for Canadian use.
You’ll also need to make sure the casino accepts Canadian dollars, and check out their speed for processing transactions.
Depositing at a Casino
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.
One of the most popular ways to bank online is with a credit card. All you need to do when using a credit card is enter your card information and your funds will be credited. The casino will ask for for standard payment information (card number, address, etc.), and once you’ve provided this, a secure payment will be transferred, similar to any other online purchase.
Among the best options you can find:
VISA is a fine option because it allows players to make deposits and withdrawals without any treble, most of the online casinos in Canada accept Visa and even offer special bonuses of using visa. for more info visit Visa Casinos page.
Mastercard is also fine for deposits, but does not allow Canadian players to make withdrawals from the casinos.
For those without credit cards, you will find numerous of other banking options that are also easy to use.
E-wallets allow you to deposit and withdraw money to and from a casino without providing the casino with your credit card or bank info. You can get money into an e-wallet using a standard credit card, bank account, or transfer from other parties. Once funded, the e-wallet can be directly linked to compatible casinos for easy payments. Some customers feel more secure with trusted e-wallets because they keep credit card numbers and bank account information private from the casino.
Popular E-Wallets include:
PayPal – This e-wallet is best for players who need flexibility for use with non-casino purchases. See our page about PayPal casinos for more.
Instadebit – Instadebit is designed specifically for banking between Canadian players and casinos, making it a seamless and secure online casino banking option. See our page about Instadebit casinos for more.
Others of note: Click2Pay, ECO, ClickAndBuy.
This method allows you to link your bank account directly to a casino. You’ll need to provide basic information like your bank account number and/or cheque numbers to proceed. So long as you bank with a trusted casino, instant banking is a safe, secure way to transfer funds. However, while this method is usually available for both deposits and withdrawals (making it a solid choice), wait times can take a little longer than e-wallets.
Players can bank instantly using:
Wire transfers are accepted at many casinos. While bank wires require a little more leg work on the part of the player, they also require players to share minimal account information. To process a bank wire, contact your bank and let them know you wish to transfer money from your account directly to the casino (details are generally found on its banking page). If unclear, or you need a more thorough walk-through, we suggest you contact the casino’s support.
If you don’t have a bank account or credit card, you can use what are called pre-paid cards or sometimes MoneyPaks. These act just like a credit card, but can be purchased at stores with cash. You select this payment method in the casino cashier and enter the card number and pin given to you at checkout when you purchased the card. One of the most common pre-paid cards is uKash. Other popular examples include Visa Vanilla and Entropay.
Where To Get a Pre-Paid Card: These cards can be bought anywhere. You will find them in gas stations, chain stores like Metro, Walmart, Loblaws, Target, Sobeys and also local grocery stores. They are a quick and easy way to get your money online.
Withdrawing Your Winnings From a Casino
Getting money offline should be a painless process, although withdrawal times and steps may differ depending on your method and casino.
Most casinos prefer to return your money in the same manner you delivered it. Casinos will hold onto your credit card, e-wallet or other info you provided, and if you choose, it can return your money via the same method.
How Long Does It Take To Withdraw Money: Regardless of your method, most casinos have a standard 24-hour waiting time during which it will process your withdrawal. After that, wait times can range from a instant to a day or two, or to a week or more. Consult our casino reviews or your casino’s banking page to find out more about it’s waiting and processing 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 Are 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.
Knowing what banking options you’d like to use, and which casinos accept them is a big step in determining which online casino is right for you. We recommend selecting a banking option that will prove easiest for you in transferring funds, but also provide a secure, safe way to move your money around.
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