Payment methods for Canadian online casinos
One area of the online casino that demands careful consideration is payment method. While payment methods for Canadian online casinos are plentiful, some simple-seeming options are complicated and some vice-versa. On the other hand, most Canadian players will be available to find a method for depositing *and* withdrawing funds quickly and easily.
Every online casino accepts Visa and MasterCard for deposits, though not necessarily from and to Canadian residents or through Canada-based banks. E-Wallet accounts seem like both a nice alternative to using one’s bank account and a good way to budget your playing money, but from PayPal on down, each such method has advantages and disadvantages. Then there are bank transfer methods and e-Checks and … how can you know which payment method for Canadian online casinos is best for you? Read on for a brief rundown on several good ways to transact and get gaming!
Credit cards at online casinos
Naturally, any time anyone looks to purchase anything online, he or she reaches for the beloved credit card. Canadian players looking to deposit at most online casinos may have problems. No US-based bank doing business in Canada will allow the use of its credit cards in any online casino except possibly those approved by the province, and Canada-based banks (particularly TD Canada Trust and RBC Royal Bank) are notably inconsistent about allowing banking to/from any casino website.
Also note that MasterCard credit cards have been shown to be next-to-useless for Canadians at online casino websites. Not even deposits are allowed with a MasterCard issued by any of the major Canada-based banks.
For those Canadians serious about their paying, probably the best option to deposit at online casinos with a credit card (or by certain other banking options listed below) would be to open an account at any of Canada’s financial credit unions. These independent banks tend to allow more freedom in purchasing nationally and abroad, thus proving far less problematic than use of a larger institution’s credit card issuance.
Prepaid cards at online casinos
For so many reasons, the prepaid card is the safest of the bunch. Since this card is not a credit card or connected to an actual bank, and prepaid cards are often the easiest of payment methods for Canadian online casinos, Simply purchase the card from a local outlet, and deposit a spending limit. Depending on the prepaid card, the purchasers may be able to reload to card.
Two issues of note here: Prepaid cards purchased at US-based chains such as Target and WalMart are typically good for use within North America only, thus again disallowing use at most Canadian online casinos; before purchasing a prepaid card anywhere, check the “terms and conditions” bit on the back of the card to ensure that it is suitable for international use.
Also note that prepaid credit cards are really only usable for depositing at online casinos. To withdraw, the casino website in question will likely cut you a cheque and so send payment via post; luckily, nearly every reputable casino offers this service.
e-Wallet accounts: PayPal, InstaDebit, Entropay, Ecopayz
Once a go-to method for online casino players in Canada, e-Wallet accounts have lost some cachet but are steadily coming back to serve these customers. Among the better choices for Canadian players are the following.
PayPal – the world’s most popular choice in this category, PayPal, has changed its policy for Canadian customers with regard to online casino transactions several times since 2006. Some Canadian online casinos will readily accept PayPal for transactions, but this situation may change for the better or worse by the time you read this.
InstaDebit – InstaDebit is an electronic wallet that for years has consistently allowed players worldwide to securely transfer money direct from and to bank accounts; InstaDebit offers a full range of real-time service offerings in 32 countries including Canada, with bank transfers available when withdrawing. Just make sure that your online casino of choice accepts InstaDebit (the overwhelming majority do), and you’ve found perhaps the best choice for internet gaming from Canada.
Entropay and ecoPayz – These Britain-based companies offers their discreet e-Wallet service to anyone in the world. EcoPayz and Entropay offer “virtual credit cards,” i.e. once making your deposit online, you’ve receive a 16-digit account number which works online just as an actual card. Since the number is linked to Visa, ecoPayz will work for deposits and withdrawals at basically any online casino. And since both names have long been used in online casinos, both are accepted at most reputable casino websites.
Depositing and withdrawing at online casinos with e-Checks
If you decide to use your own banking account to send a deposit, you can request an e-Check to send funds to a casino. An e-Check is an electronic payment sent through your personal bank and works similarly to an old-fashioned traveler’s cheque (which most online casinos no longer accept), except in electronic form. This method is safe enough if a bit slower to process, and some online casinos even offer payment on withdrawal with e-Checks.
These method allows players to link their bank accounts directly to a casino, which will ask for information like bank and cheque numbers. This method is usually available for deposits and withdrawals, although wait times can take a little longer than e-wallets. As long as players bank with trusted casinos, instant banking is a safe, secure way to transfer funds to Canadian casinos.
Bank wire transfers
Finally, bank 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. Players can contact their bank and let them know they wish to transfer money from an account directly to the casino, which should be able to supply you with the necessary information on its banking page. Of course, North American-based casinos may not provide services to certain online casinos in this fashion.
Safety and security in payment to casinos
We should note here that, no matter which payment method you decide to use in depositing with an online casino, all website listed on CasinoCanada have been certified for fairness and security. Pay however you choose, but play safe at our recommended Canadian casinos!