Payment Methods for Fast Withdrawals in Canada

Author: Gerda Grinova

Updated:

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Among the most popular payment methods in the Canadian online casinos Interac e-Transfer, e-wallets Skrill, MiFinity, and Neteller, cryptocurrencies such as Bitcoin and Tether can be found. E-wallets offer a payout speed of 0-24 hours, while crypto transactions are instant and provide payouts in several minutes. In this review the best casino payment methods for the players in Canada are highlighted based on the operators’ data and user experience.

8

Spirit Casino

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15

Wageon Casino

Rating: 8.6/10

  • Low 5 USDT minimum deposit
  • Daily Cashback up to 20%
  • Instant cryptocurrency withdrawals
  • 50-level loyalty program
  • High C$35,000 per week withdrawal

16

Lemon Casino

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19

GoKong Casino

Rating: 8.1/10

  • 33,000+ games from 70+ providers
  • Minimum deposit from C$10
  • Cashback rewards up to 15%
  • Bonus Crab system
  • 5-level VIP program with extra perks

Compare Withdrawal Times By Method

When selecting a payment method, one needs to tell the difference between casino approval in the form of KYC verification and the receiving time, meaning the bank or wallet transfer speed. We have compiled the most crucial withdrawal aspects in the table below letling you compare withdrawal times, fees, and per-cashout limits which will help you to find the most appropriate option.

Compare Withdrawal Times By Method
Payment method Average payout speed after approval Fees Limit per Transaction
Interac e-Transfer 0-24 hours C$0 C$10 - C$7,000
E-wallets Skrill/Neteller/MiFinity 0-24 hours Low C$20 - C$5,000
Visa/Mastercard 1-3 days 1-3% transaction C$30 - C$10,000
Bank transfer 1-5 days Up to bank C$100 - C$10,000
Cryptocurrencies Under 1 hours Small network None

Please, note that the table displays an average payout speed, while real withdrawal times can vary a bit depending on the particular casino, bank processing procedures, KYC procedure status, and a withdrawal request period be it a weekend or a weekday.

Most Popular Payment Methods in Canada

We have made a list of the most widespread payment methods in the Canadian online casinos known for their reliability, fast payouts and high security.

  1. Interac e-Transfer - Best for Routine Same-Day Cashouts

    Interac e-Transfer withdrawals allow you to transfer money directly to your bank account. The minimum cashout is often only C$10, the Interac’s payout time in Canada is up to 24 hours.

    Pros: 

    • Widely accepted by the Canadian banks and online casinos
    • Fast payouts within 24 hours at most
    • No fees from the provider and most casinos

    Cons:

    ❌ Some banks don’t support this method for casino transactions

    ❌ Up to C$3,000 daily deposit limit may be restrictive for some high-rollers

  2. E-wallets: Skrill, Neteller, MiFinity - Best for Frequent Withdrawals

    E-wallets are often being chosen by the active players, searching for the e-wallet withdrawals in Canada on the same day and for instant deposits. All banking details stay hidden for your extra privacy.

    Pros: 

    • Fast payouts within 0-24 hours
    • Accepted across online casinos worldwide
    • Added security through 2FA and hidden banking information

    Cons:

    ❌ Small fees for withdrawing from an e-wallet to a credit card

    ❌ Account verification required

  3. Visa & Mastercard - Best for Keeping Everything on One Card

    Visa and Mastercard are worldwide popular payment cards with encrypted transactions and fraud protection. Visa withdrawal time in Canada is up to 30 minutes when Visa Direct is being used, though some payouts may take longer than e-wallets within 24-48 hours.

    Pros: 

    • Deposits are usually instant
    • Compatible with Apple Pay and Google Pay
    • Safe payments with fraud monitoring and 3D Secure verification

    Cons: 

    ❌ Bank fees for withdrawals can be incurred

    ❌ Withdrawals can take 1-3 business days

  4. Bank transfers - Best for Large Single Cashouts

    Bank transfer withdrawals in Canada are among the most secure, and suitable for large online casinos payouts. Transactions are processed directly from the casino to your bank through the encrypted networks. Deposits take up to 1 day, while withdrawals could be slower than with any other method taking up to 3-5 workdays.

    Pros: 

    • Regulated by banks allowing for higher security
    • High withdrawal limits of up to C$10,000
    • No third parties involved in the transaction

    Cons:

    ❌ Slow processing times up to 3-5 business days

    ❌ Bank fees may be applied on transactions

  5. Crypto (BTC, ETH, USDT) - Best for Experienced Users Wanting Near-Instant Settlement

    Crypto withdrawals in Canada are almost instant within one hour up to several minutes. Since all cryptotransactions are verified on the blockchain, the highest security and full anonymity are guaranteed against any unauthorized access to the casino players’ financial and personal data.

    Pros:

    • Transactions processed within 1 hour or less
    • Lower fees for most cryptos than with fiat
    • Higher level of privacy and security for transactions

    Cons: 

    ❌ High volatility with cryptocurrencies like Bitcoin

    ❌ Cryptocurrencies are not accepted by some online casinos in Canada

Our Methodology

For the precise current information on the withdrawal speed we track each method’s full payout process. The time is recorded at each stage of approval, processing, and arrival. Any fees, minimum and maximum limits are noted, then the verification process is complete. Please, check our four-stap-guide for payout data collection:

  • We make small CAD withdrawals with each tested method to check the approval and arrival times.
  • For documentation we save screenshots and replies from customer support, as well as relevant terms and conditions with payout windows.
  • We review all the KYC or the Security-of-Funds verification steps delaying payouts and evaluate whether completing KYC beforehand can speed up cashouts.
  • After the online casino policy updates or in case of the players’ complaints increase we retest the withdrawal methods.

What Affects Payout Speeds

A payout time is made up of the payment rail time and the online casino approval window. The internal casino processes can affect the transactions approval time, so using Interac, e-wallets, or crypto will speed up the funds cashout available to you after being processed. Please, check the factors affecting the payout speed:

  • Completed KYC: Finish the KYC procedure before requesting any withdrawal. The casino may take up to 3 business days for the full documents revision.
  • Approval Time: Up to 24 hours might be needed for a casino withdrawal request approval, still this can vary. Always check the casino’s specific times and terms in advance.
  • Day of the Week: Some withdrawal methods aren’t processed on weekends or holidays. If a withdrawal on Friday is requested, it may only be processed the following Monday by the casino financial office.
  • Receiving Bank/Wallet: The time of funds reaching your bank account or wallet depends on the payment provider. E-wallets take up to 24 hours, while bank transfers may require up to 5 workdays.
  • Name Match: Ensure your casino account personal details match your payment method’s ones. Most casinos in Canada prohibit withdrawals to someone else’s card or wallet and have a right to fully block your account in this case as suspicious.
  • Deposit Method: The whole process gets delayed when different methods for deposits and withdrawals are used. Note that some Canadian online casinos strictly forbid that and state in their T&Cs.
  • Ontario/iGO Regulations: The online casinos in Ontario are required to conduct a stricter verification procedure than the other casinos in Canada. The withdrawal request processing time in the casinos regulated by the iGO may require an extra 1-2 business days due to extra compliance checks. 
Gerda Grinova
Chief Editor
University of Latvia
A degree from the University of Latvia combined with experience in affiliate marketing, as an iGaming Content Lead, and in quality assurance.
Expert in:
  • Casino reviews
  • Online Games
  • Online Slots

FAQ - PAYMENT METHODS FOR FAST WITHDRAWALS

Is Interac really the fastest in Canada?

Interac is one of the fastest withdrawal methods in Canada. Cashouts are generally complete within 1 hour. The bank's internal procedures and the casino’s verification processes can affect this time.

Why is my “instant” withdrawal still pending?

Withdrawals are instant once approved by the casino. This can be delayed by factors such as verification checks or the payment method chosen.

E-wallets vs crypto: which is faster?

Cryptocurrencies are faster, as withdrawals often require up to 1 hour-15 minutes, thanks to their decentralized network without bank intermediaries. E-wallets rely on third parties for processing taking longer up to 24 hours.

How long do Visa/Mastercard cashouts take?

Bank cards may take about 1-3 days to process withdrawals depending on your bank you and the casino the funds are being withdrawn from. This period may be shortened to up to 1 day if Visa Direct is supported by the casino.

What’s different about Ontario (iGO) sites?

The iGO sites require extra verifications to comply with the local laws, since they are licensed by iGaming Ontario with stricter regulations. Online casino withdrawals may need 1-2 business days more due to these extra iGO verifications.

How can I increase withdrawal limits?

The withdrawal limits can be increased after the player’s account full verification as the verified casino accounts have higher limits. Most casinos in Canada also provide VIP clubs and loyalty programs to their active players offering higher daily, weekly and monthly limits with each level up.

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