When playing at an online casino, the first thing that comes to mind is the type of Payment methods available for players to top up their account with real money.
Although most of the online casinos offer a vast variety of Payment methods, one must always check this before making a deposit. This will enable you to complete your transaction securely, quickly and efficiently.
The most popular Payment Methods in Canada
Nowadays, the list of payment methods is growing day by day and Online Casinos are making sure to introduce numerous payment method options for their players.
Some of which include:
Interac is extremely safe and straightforward, mostly because the Canada exclusive Service is a debit payment service with banking options available. Thus this is one of the most ideal casino payment methods available out there for Canadian players.
iDebit is a popular eWallet amongst Canadian players that allows you to pay through online banking like paysafe card/Paysafecard and ecopayz Canada. iDebit Canada is free, instant and easy.
Muchbetter is a digital wallet with endless pay in and pay out options for online gamers thus making this brand name do it justice.
Paypal is a digital wallet that holds your credit card, debit card and banking details and acts as an intermediary between the money sender and receiver, and vice versa. Although not many casinos accept CAD transfers using Paypal Canada, there are still some operators out there that do.
Trustly is a financial mediator which allows users to make payments directly from their bank account without the need for a supplementary transfer point. Trustly is instant, safe, secure and popular across Canada as it has multiple currencies including CAD.
Other payment methods include Skrill and Neteller which are amongst the most popular electronic wallets. Unfortunately Skrill Canada and Neteller Canada are both not allowed on any casino-related transactions.
How can I receive my payments from Online Casinos?
Online Casinos separate their deposits and withdrawals through their Cashier or payments section. In order to take out money from the casino, the user must request a withdrawal through the Cashier or payment section. Once the request is submitted, the Casino’s payment team, who work around the clock, will process the request and approve it (should everything be in order).
To make your payment fast and smooth as possible, it is very important that all your account details are verified and all documents are sent to the online casino to prove your identity. This is basically an extra measure from the casino’s side to ensure that everything is legit as much as possible.
With the latest release of Trustly Pay ‘n Play service, currently still not available for Canadian players, users would just have to deposit money on the go and cash out through the same payment method. There is no need for document verification, making this a dream bank system for online gaming.
After the payment team approve the user’s withdrawal request, the player will be able to cash out the money but it all depends on the chosen payment method policies. Taking ecoPayz and Instadebit, which are both e-wallets, this may be a matter of minutes, being both instant e-wallets.
Are online casino payments safe?
Online casino payments are safe as they engage bank-level security to guarantee that all player funds are secure. The following are a number of measures taken into consideration.
Legal documentation requirements to prove the legitimacy of the player’s identity
Operate on SSL 128-bit encryption technology for payment transactions
Guaranteed entire player confidentiality when it comes to legal payment documents.
Any transaction (being it a deposit or/and a withdrawal) made at an online casino is encrypted making it extremely difficult for a third party to hack any information.
How long does a casino withdrawal take?
Basically this depends on two factors:
The time it takes for the casino payments team to process and approve the withdrawal request – usually most casinos take 24 hours at most to approve and process the payout request. Other less reputable casinos might take up to or more than 48 hours, sometimes even up to 5 days.
The time it takes for the selected banking option to process the casino’s approval and make the payout into the user’s personal account.
Are online casino deposits and withdrawals free?
If an online casino charges you money for either a deposit or withdrawal, then look for another casino! You might already incur transaction fees from the payment method itself that have to be squared with the casino.
Certain credit card payments for example, Maestro, MasterCard and Visa, will always have a small scale percentage on every transaction made.
Make sure to always check the Online Casino’s Cashier/Payments section before making any deposit or withdrawal in case this varies from one casino to the other.
Why are winnings verification essential?
Considering that the online casinos make huge money payouts, they have to strictly comply with the general rules and regulations for safety measures. Meaning, that the identity of the player should be 100% verified. Hence why every time you get lucky, the casinos ask you to verify the winnings so that the identity of the player is crystal clear. This is a standard procedure.
Think it might be annoying? However, always keep in mind that it’s ‘better safe than sorry’ and that you are a step closer to receiving your winnings! Therefore, make sure to always have those documents ready and in hand.