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Online Casino Payment Methods
Banking at an online casino can seem a lot like hard work, but the truth of the matter is that it’s actually a lot more straightforward, and potentially safer, than depositing at a real life casino. At a live casino, in order to handle your banking, you will need to get up from your game, find an ATM, queue up, hope that you haven’t maxed out the ATMs withdrawal limit and then walk around with a large wad of cash in your wallet.
Banking at desktop and mobile casinos, on the other hand allows you to stay comfortably placed in your chair with an array of secure banking options at your fingertips. The time you save means you’ll be able to enjoy more of your favourite games. It’s important however to only play at a licensed and legal online casino. When you do this, you can rest assured that your money is in safe hands, and that you’ll always get your winnings. A legal online casino will offer plenty of trusted and reputable payment methods, and the deposit and withdrawal turnaround times will always be quick. The best legal online casinos in Canada make it easy for you to make a deposit, and they only align themselves with payment options you know are safe and secure. Find out more about the most popular payment options here:
Types of Payment Methods
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Interac
After launching back in 1984, Interac has gone on to become incredibly popular with Canadian players. Initially developed to give Canadians broader access to their funds via a single shared network, when Interac went online it focused on online gambling transactions. It’s not only incredibly secure, but also widely accepted too.
Interac works like a debit payment method so you cannot spend money you don’t have. You don’t have access to a credit facility, so it can be a great tool for staying under budget. It can also be used for both deposits and withdrawals, which is very convenient. When depositing, your money will appear instantly, so you won’t have to wait around to start playing.
Many of the best Canadian-friendly online casinos allow their players to transact with Interac, and you can use it safely on your desktop, smartphone, or tablet. The simple system connects to your bank account and is as secure as your debit card because it uses first-rate encryption technology and cutting-edge fraud detections systems.
There are several banking solutions offered by this brand, but the preferred one for online gamblers is Interac Online. This payment mechanism lets you make secure transactions from your bank account to your online casino account.
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Credit & Debit Cards
Credit and debit card transactions are a quick and easy way to deposit and withdraw money online. They are also extremely safe, providing that the casino has a privacy policy protecting your details from being used for any other purposes. Licensed sites will always explain how they go about protecting your details, and they are legally bound to abide by this agreement.
Players might find that if their credit or debit card is from an American financial institution it might be rejected, because it is illegal for financial institutions in the U.S. to be involved with gambling-related transactions. This will not necessarily prevent all transactions on such credit cards, but it might result in some transactions being flagged up and consequentially rejected. As American gambling laws are changing, however, it’s likely that this will become less of a problem.
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Electronic Wallet (e-wallet, web wallet)
The electronic wallet is an increasingly popular method for conducting banking transactions at online casinos. They allow you to deposit money into an online account, specifically created for online banking transactions, using your credit card or debit card, or by direct debit. Once funds have been placed into your e-wallet it is simple to use your new account to deposit money at an gambling site. Withdrawing money from your web wallet is also very quick and easy.
One of the main benefits of using an e-wallet is that you’re not revealing your personal details or bank and credit card details to any third party, as this information will remain between you and the wallet provider. It’s quite likely that you’ll be able to use the same provider for multiple online casinos or other online financial transactions, to pay for goods and other services, so finding one that you like can be extremely handy.
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Direct Transfer
Directly transferring money from your bank account to the online Casino is a great way to make a deposit if you don’t want to share your personal details. You can usually action this via online banking, telephone banking or in person, so it’s certainly a flexible method. The time taken and cost of the method depends entirely on your bank, but for some people it’s the best option as it is completely secure.
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