Ease of transferring funds to and from casinos is one of the most important considerations, and all of the casinos offer a variety of deposit and withdrawal methods.
Online casinos in Canada offer six major banking methods: credit card, electronic wallet, bank transfer, prepaid card, mobile payment, and instant banking, each with different options.
How long does it take to deposit and Withdraw?
The time it takes to deposit or withdraw funds from your account varies from casino to casino and the payment type.
In general, please check the table below for the processing time.
|BANKING TYPE||BANKING METHOD||TIME TO DEPOSIT||TIME TO WITHDRAW||REQUIRES 3RD PARTY ACCOUNT||FEES||REVIEWED CASINOS|
|Instant Banking||iDebit||Instant||Instant||Yes||$2 Fee to move funds from bank to iDebit account||28|
|Instant Banking||eCheck||Instant||Up to 7 Days||No||None||5|
|Instant Banking||Citadel||Instant||Up to 3 Working Days||Yes||$1.50 per transaction||4|
|E-Wallet||InstaDebit||Instant||Up to 10 Days||Yes||$1.95 when depositing / $2 from instadebit to your bank||30|
|E-Wallet||EcoPayz||Up to 1 business day||Instant||Yes||1.69%-2.9% to deposit into EcoPayz account||48|
|E-Wallet||MuchBetter||Depends on funding method||Depends on funding method||Yes||Depends on funding method||33|
|E-Wallet||WebMoney||Instant||Instant||Yes||0.8% per transaction||8|
|E-Wallet||Jeton||Instant||Depends on funding method||Yes||Depends on funding method||14|
|Prepaid Cards||AstroPay Card||Instant||N/A||No||None||13|
|Credit Cards||Visa Credit||Instant||Up to 3 days||No||None||67|
|Credit Cards||MasterCard Credit||Instant||Up to 3 days||No||None||67|
1. Credit / debit card
In the past, Visa and Mastercard were popular means of online games, but this method is very likely to be rejected by banks.
This is because banks are cracking down on transactions related to online gambling.
It may work in some casinos, but for now it's better to use another payment method, such as:
2. Electronic wallet
The electronic wallet acts as a gateway between your bank account and the merchant (online casino), allowing you to fund your casino account without having to provide your bank account details to the casino website.
The options for electronic wallets are as follows.
3. Prepaid card
Prepaid cards are a recommended banking method for people who do not have a credit card or electronic wallet or who want to manage their money well. After selecting the type of prepaid card, you can purchase cards of various denominations from retailers by entering your PIN or serial number in the banking module.
Popular pre-paid cards include:
- Entropay – No longer providing services as of 1 July 2019
- Vanilla Prepaid
4. Bank transfer
It's an old-fashioned route, but it's still a good route for people who have good communication with banks and are quick. Players can contact the bank through the casino's bank transfer details (the casino provides this information in the bank section) and arrange a wire transfer. If this is important, you don't need to provide banking information to the casino by using a wire transfer.
5. Mobile payments
With mobile shopping becoming increasingly popular and rapidly becoming more popular, some online casinos can fund their accounts through various mobile payment providers.
Boku, for example, is a service that allows you to pay through your carrier's invoice and is widely supported by Bell Canada and TELUS Mobility in Canada.
Cryptocurrency anonymity is an attractive option as it provides a very secure and fast trading process for online casino games. However, its biggest drawback is that it is not yet widely accepted, and for new users, converting CAD to cryptocurrencies may seem complicated in the first place.
Also, the volatility of the cryptocurrency itself is a concern for users. The process of converting CAD to cryptocurrency and then back to CAD to play at the casino seems like a very risky method. When withdrawing fiat money, profit or loss at the conversion rate is just a nightmare.
Therefore, we do not recommend using cryptography for inexperienced people, but it may be a good option for those who already have cryptography or live in the United States, where the law is very vague. However, there are many excellent options for payment processing for Canadians as it is legally permitted to play at online casinos.
Cryptocurrency casino options are:
- Bitcoin Cash
- Bitcoin Gold
7. Instant Banking
Live banking mediates your bank account information on the website of an online casino, allowing you to send money very seamlessly and quickly.
In the Bank or Payment section, enter your bank or check number, select your deposit and send it. Shortly thereafter, the funds will be credited to your casino account.
Instant banking includes the following:
- Interac Online/Interac e-Transfers
Important concepts to understand!
Our recommended site, regulated by a strict electronic game regulatory body, requires player verification (identity verification, resident verification) called KYC (Know Your Customer).
This is usually required for the first withdrawal. If your personal information is not confirmed properly, you will not be able to withdraw your prize.
Payments are rarely processed immediately (even after the second withdrawal request is confirmed), and most casinos hold payments for some time while the withdrawal is pending.
In other words, regardless of the processing time of the selected withdrawal method, it is necessary to add the casino-specific “pending” withdrawal time to calculate the total time from the request for withdrawal to the return of funds.