A wide selection of different games and generous bonuses await you! But first, we wanted to write this comprehensive article for our readers on the specific topic of what kind of payment methods you have available as a player from the country of Canada. Every country is a little bit different when it comes to banking regulations and dealing with the outside world. So, to that effect, we will be giving some advice on different options, including the pros and cons of each, for players living in Canada.
- We will be looking at the pros and cons of various payment methods
- We will talk about currency conversion fees and how to avoid them
- We will also touch on the subject of online casinos and e-transfers
Are Casino Payment Methods Canada Safe Gambling Online?
Our team attacks these important issues vigorously and seriously, taking every detail into consideration. We dig deeper, researching licenses, credentials, and security measures of the various options for online gambling in Canada. Our site is tailor-made for Canadians from top to bottom, and this page is no exception! If you’ve never heard of Vanilla Prepaid, for example, we will explain it to you, but in Canadian terms, relevant to you as a Canadian casino gamer.
In addition, we gather user feedback on these websites to see if any potential issues crop up, so we can warn you, the player, in such a case. User feedback is actually the most important factor for us because it is an unbiased look at the platform.
We are especially keen on researching the deposit and withdrawal processes for different casinos, whether by e-wallets such as Skrill, Vanilla Prepaid, Prepaid Visa, credit or debit cards, bank transfer, Pay by phone, Instadebit, iDebit, or any other popular payment methods. Here are the findings of our research in a nutshell:
- For the average user, e-wallets are going to be the best option for deposits and withdrawals
- Look for casinos that let you deposit and withdraw in CAD to avoid conversion fees
How long does it take to cash out your winnings?
Most of the casinos usually approve your withdrawal request one or two days, but some do it even faster. The fastest way to withdrawal your money is through e-wallets like Skrill, Neteller, Instadebit, or ecoPayz and it might even take only a couple of minutes.
How To Withdraw Money From Your Casino Account?
Casinos usually will have a Cashier or Payments section and it will be divided into Deposit and Withdrawal.
For withdrawing money from your casino account you will have to go to the withdrawal section. Once the withdrawal has been made you will have to wait for the casino’s payment team to approve it (if everything is in order).
In some cases, you might have to send some extra verification documents, because the casino has to make sure everything is legit. We recommend our players verify account upon registration so when they want to withdraw money it takes as fast as possible.
Making a withdrawal from your casino account:
- Go to the casino’s cashier section
- Select withdrawal
- Select your withdrawal method
- Enter the amount of money to cash out
What Are The Fastest Casino Payment Methods In Canada?
Overall, e-wallets and debit cards will be the fastest way to receive your winnings. Casino sites that offer cryptocurrency as a payment method may have an even faster withdrawal time. It’s best to check withdrawal times for each payment method in the casino your playing.
Why Do I Have To Verify My Winnings?
Each casino has safety measures that comply with general regulations for online casinos.
How long does it take to add real money to my casino account?
In most cases, you will receive your money in your casino account instantly but if your depositing using a wire transfer payment method it might take up to 2 days.
Making a Deposit to your casino account:
- Go to the casino’s cashier section
- Select deposit
- Choose your payment method
- Enter the amount of money to add
Why should I add real money to my casino account?
Some casinos do offer no deposit bonuses, but in most cases, you would have to deposit to unlock all the bonuses and features the casino is offering. Without depositing real money you won’t be able to:
- Play live dealer casino games
- Become a VIP member
- Win real money
- Claim deposit bonuses
- Have your personal account manager
- Claim cashback bonuses
Using Credit & Debit Cards at Casinos
- Between the two options, always choose credit cards over debit cards if possible, as the bank will likely side with you in a dispute.
- A good option is to only use your chequing account as a payment method for online use and keep most of your money in your savings account.
- Keep in mind any minimum balance requirements you may have in effect on the account you are using.
- Some credit card operators consider a purchase at an online casino to be the same as a cash advance and charge a higher rate of interest accordingly.
Using E-Wallets At Casinos
E-Wallets is one of the most popular payment methods. Making an online deposit or withdrawal sometimes might take time, but not with e-wallets. This payment method is one of the fastest ways to get or deposit your money in an online casino.
Using E-transfers At Casinos
E-transfers are one of the most popular payment methods for online casinos in Canada, that’s no secret! The good news for people who prefer e-transfers is that more and more online casinos are including it as one of their payment methods these days.
- Banks will charge you a fee for making e-transfers
- It’s hard to keep track of potential fees and exchange rates
- An e-transfer is linked to your personal bank info
Using Prepaid Cards At Casinos
A prepaid card is a good option as it doesn’t have to be connected to your credit card or bank. Prepaid cards are secure and easy to use as your payment method. You can get these from the retailer or deposit the cash on them. Before you purchase one, always check if it’s supported by the Canadian casino you wish to deposit at. We must note that you won’t be able to withdraw your winnings on this card.
Using Cryptocurrency At Casinos
Bitcoins were introduced in 2011 and are kept in three major types of e-wallets; online wallets, hardware wallets, and software wallets. To deposit or withdrawal using bitcoin, go to the casino’s website where you want to make the deposit.
Click on my account and select deposit. Set your preferred amount and choose bitcoin as the mode of payment. Under typical situations, the process should take no more than a minute. In terms of security, a player plays an enormous role in keeping their bitcoin account safe. To do this, you need to play at a casino that is secure and trustworthy.
Some Of The Most Popular Cryptocurrencies:
The above deposit methods have a proven history of security.
Some banks allow but others do not process transactions for gambling purposes.
You should be able to play within an hour or so.
Mostly, you have to navigate to the cashier section and click withdraw.
Some casinos offer bonuses while others don’t. Check out their respective websites.