The Best Banking Methods for Canadian Players
Transferring money with convenience, speed, and more importantly, security is a vital factor when it comes to having a memorable and hassle-free online gaming experience. You want to fund your casino account at lightning-fast speeds, transfer your winnings without any headaches, and access your balance around the clock, regardless of where you are in the world.
The quality of a payment method will greatly depend on your own personal preferences. Thankfully, most online operators in Canada provide a vast selection of casino banking methods that are easy-to-use, reliable, secure, and quick. With that in mind, let's take a closer look at the casino banking options at your disposal at most Canadian online casinos that you can use to make deposits and withdrawals on your account.
Credit / Debit Cards
These casino banking options are without a doubt the most popular payment methods for Canadian players when it comes to gambling online. The process of funding your account is very similar to an online shopping experience and will require the same details, including card number, CVC number, and amount. The most popular card options include:
- Discover
- American Express
- Maestro
- Mastercard
- Visa
- Visa Electron
E-Wallets
E-Wallets, also referred to as digital wallets, are ideal for online gambling. E-wallets will allow you to transfer funds quicker and easier than most of the methods we list here and your personal and financial information is extremely well protected. There will always be a charge when you make a cashout request, but when you consider the shortened processing time, you'll immediately understand why. Some of the most common e-wallet options in Canada include:
- Neteller
- Skrill
- PayPal
- EcoPayz
Instant Payment Services and Prepaid Cards
Instant payment services act as the middle man between your online casino and bank account, while prepaid cards work in the same way as credit/debit cards, but need to be topped up before you will be able to spend money. Both give you more control over your spending. Some of the most popular prepaid cards and instant payment services include:
- iDebit
- Click2Pay
- ClickandBuy
- Entropay
- Paysafecard
Direct Bank Transfers
Bank transfers essentially consist of transferring funds directly from a bank to an online casino account without using a middleman thanks to the technology behind direct banking services. Due to the fact that it involves a straight transfer, there are usually no fees involved. You can also use direct bank transfers when it comes to funding your account or when you wish to perform a payout after winning a large sum of money. Some of the most popular direct bank transfer options include:
- Instant Bank Transfer: You will need to use your bank details to successfully transfer money via online banking or in a branch where the transfer is usually instant.
- Bank Wire: This method also requires your banking details to transfer funds to your casino account. However, the clearance time will vary greatly from one bank to the next.
Casino Banking Alternatives
Apart from the traditional methods included above, you will also come across a handful of other innovative methods. Not only are players turning to their mobile phone bills when it comes to identity protection, but players are also starting to use Bitcoin more and more as a fantastic source of payment.
With the mobile phone bill option, you can fund your account while the cost will be accumulated on your mobile phone bill. With Bitcoin, you are basically using a digital currency that is decentralized and comes with loads more privacy than any other casino banking method.