If you have played real money games before then you know how important it is to select a reliable payment method for deposit and withdrawal. A gambling site might have all the right games but an unpleasant experience at the cashier waters everything down in an instant.
This page gives you a brief rundown of the most popular casino banking options for Canadian players, and we'll also tell you how to choose the most convenient method for the best experience.
What is the Best Casino Banking Method?
Players from Canada are in no shortage of secure options when it comes to casino banking. If you visit any gambling site, you will notice that they have a whole range of payment methods listed at the cashier. The available options range from cards to web wallets and direct transfers from your bank to the casino account. However, you will find that not every method will fulfill your needs.
As a player, there are several things that you should consider when choosing a suitable way of funding your real money gambling account. Some of the critical factors include:
- Security: An excellent payment method should provide you with safety and security. Some options also provide anonymity if you don't want to reveal your personal information to the gambling site.
- Turnaround time: Efficiency is of the essence when it comes to online casino banking. Players want to use the option that will facilitate instant deposits when they fund their accounts so that they can start playing immediately. The same applies to withdrawals.
- Minimum and maximum limits: Each casino banking method has a minimum and maximum limit for both withdrawals and deposits. It is always advisable to check at the cashier before settling on an option.
- Eligibility for promotions: Some operators may exclude some deposit methods from certain promotions and it is important to know this beforehand so that you are not in for a shock after funding your account.
- Processing fees: A majority of Canadian-friendly casinos process your payments free of charge. However, some operators may charge transaction fees on some options.
- Availability for withdrawal: Sometimes you may find that the option you used to fund your account cannot be used for withdrawals. This means that you have to select another method to cash out and it may inconvenience you to a great extent.
Popular Funding Options
As we have already mentioned, there are more than enough ways to fund your player account when playing at a casino site. These methods are pretty easy to use, and they are also safe and secure.
Below is a list of the most trusted online casino banking options.
- Credit/debit cards: Visa and MasterCard are widely accepted at gambling sites that accept players from Canada. Both payment solutions facilitate easy and instantaneous deposits, but MasterCard users might not be able to withdraw using the same card.
- InstaDebit: Instadebit is a third-party payment processing service that allows you to transfer funds from your bank to the casino account without sharing your financial information with the site. You can use the solution to deposit and cash out at a majority of gambling sites in Canada.
- iDebit: like Instadebit, iDebit is another popular online banking option for Canadian players.
- Citadel banking: Transfer funds instantly from your bank account to the gambling website.
- PayPal: PayPal is the most widely used e-wallet or online casino payments and it is available at most of the leading sites.
- Interac: You can fund your account quickly, securely, and anonymously with Interac e-transfer.
- UseMyFunds: A Canadian-friendly payment solution that allows you to move funds from a financial institution to an online gambling account in real-time.
- Bitcoin: Bitcoin payments are becoming increasingly popular and a vast majority of gambling sites in Canada are now accepting the cryptocurrency for deposits.
- Bank wire: bank wire transfer is your best bet if you want to make huge deposits or withdrawals from your player account while keeping your financial information private.
- eCheck: E-check provides modern and secure means to fund your online gambling account for those who prefer to deposit or withdraw via check.
Withdrawing from Canadian Casinos
Withdrawing your winnings from a Canadian real-money gaming site should be pretty fast and easy. All you need to do is ensure that your balance is above the minimum limit before initiating the transaction. You also need to make sure that you have met the wagering requirement for any bonus that you might have claimed so that the casino does not cancel it.
The process of cashing out is simple and straightforward. The first step is to head to the cashier or banking section and select your withdrawal method. The next step is entering the amount that you want to withdraw before submitting your request. The transaction will then appear to be in pending status as the gambling site reviews your request. The funds are sent to your account once the review process is complete, and the period may vary from one website to the other.