Gamblers have one thing on their mind when they’re playing on online casinos, and that is to win some cash. To win real money, you need to play with real money and then withdraw it. That’s why the payment methods used to deposit and withdraw money are so important when setting up your casino account.
Most popular payment methods
As you may have guessed, credit cards are the most used method of deposit when playing at a casino with Canadian dollars. There are two top choices when it comes to cashing in. Firstly, for cashing requests of less than C$1500, the credit card is the preferred choice. Secondly, with higher requested amounts, most players opt for a bank transfer to their private bank accounts.
Credit & Debit Cards
This is down to a lot of reasons, but mainly because the Canada-exclusive service is a debit payment service. This makes it the ideal casino banking method. That means you can’t go over-drawn or go beyond your wallet’s limit. Moreover, using Interac banking is easy since it’s so well combined into all major Canadian banks. However, not all online casinos have Interac services. Below, we’ve listed a few casinos who have the benefit of offering the Interac system as a deposit and cashing method.
ROYAL VEGAS – PLAY HERE
The award-winning Royal Vegas Casino has been online since 2000 and is listed on many casino guides. Overall, it’s a trusted gambling platform and the free bonus is suited to players who want to bet big.
ALL SLOTS – PLAY HERE
As the name suggests, this site develops in slot machines. There are hundreds of slots with a vast variety of choice, ready to satisfy everyone’s tastes. Above all, we All Slots is recommended if you love to bet on video slots. As a result, the All Slots welcome bonus is adapted to this.
EURO PALACE – PLAY HERE
Despite being a European site, Euro Palace is also registered in Canada. Even though it’s popular with Blackjack and Roulette players, Euro Palace is also perfect for playing video poker and classic slots. Its elegant graphics and friendly customer support make this casino a site to remember.
Royal Vegas, All Slots and Euro Palace are Canada's three safest and most respected online casinos when it comes to depositing or cashing with Interac.
Although it takes much longer to make deposits and withdrawals using a wire transfer, it’s one of the safest methods possible. That’s why it’s still chosen by quite a few players to this day. As surprising as it may seem, users who prefer to play without a credit card opt for this method of payment.
iDebit, from the InstaDebit company, is a popular eWallet with Canadian players. It’s instant, easy and completely free. It’s fast to transfer money to an InstaDebit account and the balance is updated within seconds. Withdrawing money from online casinos can take up to three banking days. This may feel long, but it’s due to using banking procedures that aren’t part of casinos cashing system.
Another giant in casino payments. ecoPayz is accepted by most online casinos on the net. Unfortunately, the ways to enter money into your ecoPayz account are limited. The best way is to make a transfer from another member of the system as it’s free and no commission is taken.
Paysafecard is a great option. Mainly down to the fact that it’s an electronic money system which allows online players to fund casino accounts without using credit or debit cards. This isn’t like a regular e-wallet but a prepaid card that can be used to make gambling deposits in online casinos. Since launching in 2000, the company has served over ten million users each year around the world.
How do online casinos pay you?
Casinos will either have a Cashier or Payments/Banking section. Otherwise, they will have two separate sections divided into Deposits and Withdrawals.
When taking money out from the casino, you’ll need to put in a request to the casino asking for a withdrawal. Once you’ve done this, the casinos around-the-clock payment team will process your request and approve it. To make your payments as fast and easy as possible, make sure all your account details are verified. To do this, you'll need to send in correct document to prove your ID. It may sound annoying, but it’s just an extra measure on the part of the casino to make sure everything is as legitimate as possible. It’s totally normal, and pretty much routine across the business. Once the payment team has approved your request, it’s a matter of how long your payment method takes to cash out your money.
Are payments safe?
Yes, online casino payments are safe. You don’t have to worry about anything shady going on when you make your payments. Online casinos employ bank-level security to ensure that all player funds are secure. To do this, several measures are involved:
- Requiring certain legal papers to prove the lawfulness of the player’s identity.
- Total player confidentiality when it comes to legal payment papers.
- Use of SSL 128-bit encryption tech for payment transactions.
This last point is important. Any transaction you make at an online casino, whether it’s a deposit or withdrawal, is encrypted. Meaning that it’s impossible for a third party to hack your account.
How long does a casino pay-out take?
The speed of your withdrawals/pay-outs is dependent on two important factors:
- Time the casino payment team takes to process and approve your withdrawal request.
- Time your banking option takes to process the casino’s approval and pay-out the amount into your personal account.
Most of the highly regarded online casinos will take, at most, 24 hours to process and approve your pay-out request.
Are online casino payments free?
Yes, they are free in so far that the casino will never charge you money to either deposit or withdraw. However, the payment method you’re using itself can come with transaction fees. For example, sometimes credit card payments like Visa, Mastercard or Maestro will have a small percentage charge on every time you make a transaction with them. So, while online casino payments are usually free, it isn’t always the case across the board. Always check the cashier/deposit section at each casino before making transfers, as this advice can differ from one site to the next.