Discover Banking Methods at Casinos Online

Banking Methods

Online casinos offer Canadian players plenty of ways to fund their account and withdraw their winnings. Apart from finding the best casino online site to gamble at, you also have to consider choosing a method to fund your account.

At CasinoOnline.ca, we have reviewed the best casino payment methods to help you choose an option that lets you deposit funds immediately, withdraw winnings quickly, and charges the lowest fees while doing so. We've provided some key information:

Choose Your Deposit Method

Canadians who love gambling online will be pleased with the range of payment options available for depositing funds into and withdrawing winnings from their casino online account. Using real Canadian Dollars, you can enjoy a safe and secure transaction regardless of the method you choose.

Debit Card

You can have access to instant funds via your debit cards as long as there's money in your bank account. Since this payment method is directly linked to a bank account, it's easier to realize when you're overspending. Multiple layers of security help to keep financial information safe from prying eyes.

Credit Card

A popular method of depositing real cash into your casino online account on credit with the bill being settled at a later date. Acquire instant funds for gambling at your favourite casino online, but watch out for addition credit card charges. Perhaps the most widely accepted method at a casinos online.

eCheck

Take advantage of depositing funds using eChecks, similar in functionality to paper checks. With an eCheck, funds are transferred electronically from your bank account to the casino online account securely. This method is also available for withdrawals, however, this may take a couple of days to process.

InstaDebit

A popular option among online gamblers in Canada, InstaDebit facilitates easy transfer of funds from your Canadian bank account to your online casino account instantly without any charges. This third-party payment processor keeps all your banking details private and accounts are free to open.

MasterCard

Visa's giant rival, MasterCard, is also a global brand with a vast network, and its debit and credit cards are widely used by gamblers for depositing funds into their online account. It offers a convenient way to make quick deposits with the highest level of security possible.

PayPal

As a well-reputed global e-wallet, PayPal offers a secure payment method at the biggest online casinos. Simply link it with your bank account and you are ready to spend online without revealing your financial information.

Skrill

Formerly known as Moneybookers, Skrill is a convenient e-wallet that can transfer funds to a casino online for instant payments. Credit card and banking details are kept safe while you play your favourite games online. It has strong security measures in place that ensure your information is safe.

Visa

A highly secure, reliable, and universally acceptable payment method. Visa credit and debit cards are very commonly used by online gamblers for safe and secure deposits. With Visa, players get 24/7 customer support, unparalleled security, and access to some of the best online casinos in Canada.

Wirecard

Allowing you to deposit funds at online gambling websites securely, while your personal and financial information is safe. Your bank statement won't be listed with iGaming transactions. For players who treat privacy as their utmost priority, Wirecard is the ideal solution for them.

Interac e-Transfer

Interac e-Transfer is a secure online funds transfer service exclusive to participating Canadian banks and financial institutions. Funding your casino online account couldn't be easier, your personal financial information remains private whilst the service remains free.

Paysafecard

A prepaid voucher that can be purchased in different denominations at local shops, Paysafecard allows you to play at online casinos even if you don't have a bank account or credit/debit card. Real money is instantly credited to your account, however, any winnings cannot be withdrawn to the card.

The Importance of Variety

With a shift in the gambling landscape towards the online platform, online banking has become a more efficient way for Canadians to track their online casino deposits and withdrawals.

Although casino online banking might seem suspicious to newcomers, it provides a stress-free and secure method to perform transactions. Depositing real money to an online casino isn't any different from making online purchases or any other online transaction.

Although the sheer variety of banking methods to choose from might seem daunting at first, this actually gives you flexibility and control over your online gambling experience. With plenty of options at online casinos, you should find those methods that are favourable and let you enjoy your favourite casino online games at the best sites with ease.

A Deeper Look Into Payment Methods

With a plethora of casino online banking options at your disposal, it can be quite a challenge figuring out the best one for you. Here is a brief description of what to expect from each payment method and their associated benefits.

Category
Description
Credit & Debit Cards
(Visa and MasterCard)
  • Credit cards and debit cards are the most widely used method of making payments online.
  • Extremely secure, highly trustworthy, and used by the majority of customers
  • Some sites offer exclusive bonuses when making deposits with credit or debit cards
  • Deposits are processed within seconds while withdrawals take around 2-5 days.
e-Wallets
(PayPal, Skrill, Wirecard)
  • e-Wallets are virtual wallets that hold funds which can be transferred from your linked bank account.
  • Simple and fast deposits in your casino account almost instantaneously
  • Personal information is not disclosed, making it more safe and secure
  • Withdrawals take around 1-3 days to complete
Instant Banking
(InstaDebit and Interac e-Transfer)
  • Instant banking services are similar to bank transfers, but with a third party payment processor in place.
  • No personal information is needed
  • Instant, safe, and secure deposits.
  • No deposit fees, withdrawals typically process within 1-2 days
Wire Transfers
(e-Checks)
  • eCheck allow for safe and easy casino online deposits at the top sites and are similar in functionality to paper checks.
  • Sometimes more secure than credit cards
  • Straightforward to use
  • Deposits are not instant and may take up to 4 business days
Prepaid Cards
(PaySafeCard)
  • Prepaid cards are best for people who do not have access to other online payment methods. They are used much like a debit or credit card at online casino sites.
  • Safe and secure, don't require any personal details to use
  • Funds appear in your account within seconds of depositing
  • Allows you to gamble responsibly within limits

Recommended Security Measures For Safe Transactions

Security

Online payment systems have come a long way from having lengthy and complicated sign up processes to instant account opening and super-fast transactions. These payment methods have improved at lightning speed and now, the majority of gamblers in Canada consistently rely on e-payments to fund their bankroll and withdraw winnings. With that said, a smart gambler doesn't only know how to play their favourite casino game with skill, but they also know what payment methods work to their advantage.

You should always look for healthy sign-up bonuses, fast deposit times, speedy withdrawals, and low fees associated to the payment method you want to use. Once you've got these aspects down, playing at a casino online will be a breeze. Trust us, gambling online is fun only when you have secure access to your money and when no one else is able to misuse your personal or financial information. Although online banking is generally secure, you should still keep the following in mind when performing casino online transactions:

With these tips in mind, our staff at CasinoOnline.ca wishes you happy gambling and a safe journey to winning big.

Banking FAQs

Online casinos provide an array of banking methods to their players, which you can choose based on your preferences. There isn't any specific banking method that is better than the other, except those that offer more advantages to you. Each payment option has its own terms and conditions for making deposits and withdrawals, so make sure you go through them when making a decision. Overall, all the modes of payment described here are known to be highly reliable and safe for gambling online.
Canadians can use any of the banking methods listed on the page, provided they suit their needs and are offered by the online casino they intend to play at. Visa debit cards and credit cards are widely used, along with Canadian initiatives such as Wirecard and Interac e-Transfer. So these can be preferred by local gamblers over other options. It also depends on what the online casino accepts, each site has its own set of allowed payment platforms.
All the online banking methods mentioned here are safe and secure since they rely on the best encryption technologies. Cards such as Visa, MasterCard, debit, and credit cards are backed by bank-level security. With multiple layers of protection from hackers and scammers, your information remains locked away from those who may want to misuse it. Nonetheless, you should always follow security best practices such as never disclosing passwords and PINs, and using strong passwords.
Debit and credit cards allow for instant online casino deposits along with e-wallets, instant banking methods, and prepaid cards. Withdrawals take longer, from one to four business days, depending on method chosen. They also depend on how long the casino takes to process the transaction.
No, you are not required to have a credit card when you plan on gambling online. There are other methods available that allow you to make online casino deposits. These include e-wallets that can be funded by your bank account and prepaid cards that simply require you to purchase a voucher of the preferred denomination.
Usually, online casinos ask you to use the same method you used for depositing your funds to withdraw your winnings, due to security reasons. In case you use prepaid cards, the online casino will ask for an alternative withdrawal method such as bank transfers or e-wallets to transfer your winnings. However, you can rest assured that regardless of what transaction method you use, as long as you play at a respected casino online, your winnings will be safe and will reach their rightful owner, you! Make sure you check out our list of fast payout casinos for quick access to those winnings!