Online Casino Payment Methods: Fast Deposit and Withdrawals

Leading Popular Online Casino Payment Options in Canada

Using the best method for online casinos in Canada will help to ensure that you enjoy a fast, seamless gambling experience. Ideally, you want your deposits to be registered immediately, so you don’t have to hang around waiting.

You also probably want to get your hands on any winnings as soon as possible too. This page will help you to do just that. We will tell you all about the best banking methods for you.

Online Casino Payment Method Systems in Canada

Let’s take a look at the rundown of different types of casino payment method systems you’ll come across in Canada.
The various types of payment systems include:

• Bank transfer methods
• Cryptocurrency
• Debit/credit cards
• eWallets
• Instant banking (eBanking)
• Pay by mobile
• Pay by mobile phone bill
• Prepaid cards

As you can see, there are many casino payment methods from which to choose. Let’s now take a look at the main selling points of each payment system.

The Characteristics of the Various Banking Methods

• Bank transfers – Probably the least popular of all methods due to the time transactions take and the fact that your bank can see what the transactions are for.
• Credit Cards – Quite popular due to the fact that most people have credit cards and know how to use them.
• Cryptocurrency – Still quite new and not offered by many casinos, but due to the anonymity factor and the fast transaction times, crypto banking is becoming more popular in Canada.
• Debit cards – Again, quite popular as most people have them and are familiar with their use. However, anonymity is not their strong point.
• eWallets – After crypto, eWallets are quickest in terms of withdrawals. They also offer a degree of anonymity.
• Instant banking – Unlike bank transfers and debit cards, instant banking is a banking method that uses a third-party intermediary, which promotes anonymity. Transaction times are relatively quick.
• Pay by mobile – This type of system works via your mobile phone, uses an app, and can include some other casino banking methods already mentioned, such as eWallets and instant banking.
• Pay by Mobile Phone Bill – Unlike pay by mobile, pay by mobile bill allows you to add to use your next phone bill to pay for your deposit. With this casino payment method, when you receive your next bill, you’ll find the deposit has already been logged.
• Prepaid cards – You can buy prepaid cards for certain values from street vendors and online sources. As your name doesn’t appear on the card, they offer excellent anonymity. Deposits are instant, but you cannot use them for withdrawals.

The Most Popular Canadian Online Casino Payment Methods

Time now to look at the top casino payment methods Canadian gamblers use.

Interac

Interac e-Transfers are digital payments that are available exclusively to Canadian gamblers. They offer a quick and convenient way to deposit money into your chosen online casino account. They also offer assurance your funds and personal data are kept safe and sound.

Deposits are instant, as are withdrawal requests, subject to the online casino’s processing time. Interac is fee-free.

Instadebit

Originally a Canadian bank-to-bank casino payment method, Instadebit is now used worldwide and is accepted by many online casinos. It allows you to easily keep track of your deposits and withdrawals and reveals minimal personal information to the sender or receiver, making it one of the most popular methods for transferring funds in and out of your online gaming accounts.

Transactions don’t appear on your bank statements in the casino’s name – instead, they appear as INSTADEBIT.com or 1-877-88DEBIT.
You need to check whether or not the casino you wish to use will allow you to use Instadebit to make withdrawals. Not all casinos do.

PayPal

PayPal is one of the best-known online payment brands on the planet, but sadly, as yet, it is not available for use by Canuck gamblers at Canadian-based online casinos. It is, however, used by many offshore casinos, so if you choose an offshore site, PayPal might be an option.

Pay by Phone (Mobile billing)

Paying via your mobile phone bill is one of the newer casino payment options and is rapidly gaining in popularity, particularly with those who prefer gambling on their mobile devices. Payforit and Boku are the best-known brands, with Payforit leading the way in Canada.

Crypto

Applies to Bitcoin, Ethereum, Litecoin, Ripple, etc. Crypto is the fastest transaction time payment casino payment methods overall. Along with prepaid cards, they are also the most secure thanks to the use of blockchain technology. They also offer complete anonymity.

Crypto can be used for both depositing and withdrawing without fees and, with the right app, is mobile-friendly.

Trustly

Some Canadians use Trustly as their preferred casino payment method. Originating in Sweden in 2008, Trustly acts as a middle bank, so it’s useful if you do not want your bank to know on what you’re spending your money. You can use Trustly for both depositing and withdrawing at many casinos, but as usual, we recommend checking with your chosen casino before registering.

Trustly is licensed by the Swedish Financial Supervisory Authority, and they conduct their business according to the Payment Services Act of 2010 and is safe and secure to use. In addition, they’re part of the European Payment Institutions Federation.

Paysafecard

Paysafecard is the world’s leading prepaid card solution. Each card has a unique PIN code, which is the only ID the transaction needs, making it totally secure. You can buy Paysafecards at many shops, garages, and online outlets. They come in preset values up to a max of 400 CAD. You can also download the Paysafe app for use on your mobile.
The drawback is that Paysafecards can only be used for depositing. You’ll have to nominate another payment method for making withdrawals.

MuchBetter

MuchBetter is a mobile-based eWallet casino payment method now being used by players in Canada. It handles both deposits and withdrawals and can be topped up at no charge via your bank or with a small fee via Visa or Mastercard. Authentication is via your mobile phone number, so it’s useful for those of you who don’t want their banks to know they are gambling.

When using MuchBetter for withdrawals, typically, the casino issues you a free MuchBetter MasterCard, which you can use to withdraw funds from supported retailers or ATMs.

Payz

Formerly known as ecoPayz, Payz is available as both a physical card and an online eWallet. It was launched in the year 2000 and works in many countries, accepting over 50 different currencies. Payz is regulated by the UK Financial Conduct Authority.

The Payz casino payment method uses cutting-edge technology and security systems to make sure that your money is safe and secure. They protect your funds through ‘safeguarding.’ There are no transaction fees, but it does charge a 2% fee for withdrawing cash at ATMs.

Comparing the Various Payment Methods for Online Casinos in Canada

Comparing the best banking options for online casinos is not as easy as it sounds, so we here at EasyOutCasinos.com have made it simpler by compiling the chart shown below.

These are some of the most popular casino payment methods, but some offshore online casinos may offer other options too. It should also be noted that withdrawal times are sometimes subject to requests for proof of identity and the length of time taken by the operator to process requests.

Final Thoughts

Choosing the best payment methods for online casinos is key. In some cases, you might need to choose different payment providers for different casinos.

Using the best payment method will help to ensure a stress-free gambling experience and that you can get your hands on your winnings as quickly as possible.

That’s why we here at EasyOutCasinos.com went to the lengths of preparing this page for you – to help to make your choice of the best payment option for online casinos that much easier.