Popular Payment Methods for Canadian Players at Online Casinos
Fortunately for Canadian players, the ways of depositing funds to online casinos keeps growing longer. We've included a few of the most popular ways of making Canadian dollar deposits to online casinos.
Canadian instant banking methods include iDebit, Instadebit and Interac. These methods are only available to Canadians with Canadian bank accounts denominated in CAD or USD. These methods are reliable, instant, convenient, safe and secured by the same online bank from which the transfer is instructed. There is, however, the possibility of transfer fees, but these are relatively low and in some cases can be avoided. An instant banking payment provider act as an intermediary between the user and the vendor. When effecting the payment, they'll charge the amount from your bank account and, at the same time credit the vendor or casino, which eliminates bank transfer processing times.
Credit card deposits using Visa and Mastercard are two of the methods available to Canadian online casino players. Both Visa and Mastercard are the largest processors of credit cards in the world and are a viable option for depositing funds to a player account. This is because they are instant, widely accepted, SSL protected, qualify for bonuses and ordinarily free. The credit limit on a credit card can also act as a way of preventing you from runaway gambling. Unfortunately, credit cards also allow players to gamble with money that they may not necessarily have, and so requires discipline. Furthermore, you may need to provide your credit card details to the online casino's payment provider which you may not feel particularly comfortable doing. Finally, credit card withdrawals are not always possible, which would mean that you'd have to chose a different option.
Some casinos also offer players from Canada the option to deposit with Maestro or Visa Electron debit cards. Paying with a debit card instead of a credit card offers you more control over your spending, as your account is checked for available funds when the transaction is initiated. One of the downsides of paying with a debit card is that transactions appear on your bank statements, so if you'd rather make more discreet payments, they might not be the best option.
E-wallet deposits are another effective way of making deposits to online casino player accounts. One of the oldest e-wallet providers is EcoPayz. This e-wallet method eliminates the necessity for debit cards or credit cards, it is fast and secure, eliminates the risk of overspending, can be linked to a Mastercard and allows withdrawals in Canadian Dollars. Withdrawals are not free, however, and EcoPayz is not as well-known as other e-wallet methods.
Paysafecard is a product from Worldpay, which is a global payments provider. Their other brands include Neteller and Skrill. There are a number of advantages that Canadians may find that includes the ability to control your spending given you cannot spend more than the value of your voucher. Also, payments take mere seconds to make, and are safe and secure with a 16-digit pin. Finally, there are no credit checks! Unfortunately, in terms of a payment option, the vouchers come in relatively small sizes, which may make them impractical for use. Also, Paysafecard withdrawals are not possible and you'd have to chose a different withdrawal method.