The most efficient way to deposit and withdraw money at online casinos in Canada is by credit card from your casino account. Both VISA and MasterCard are accepted. But there are also debit cards, Interac, e-Wallet, bank transfer and cheque to decide from too.
How do I make deposits?
You’ll need to go to the banking section of the online casino. There are two tabs on the banking page, one for deposits and one for withdrawals. To deposit money, select the deposit tab, then enter the amount to be transferred and the desired payment method. It takes less than a minute for the deposit to process. However, if you are depositing by wire transfer or by sending a check, you’ll need to wait for the casino’s bank to receive your deposit before you can play. This typically takes 2-5 days.
Are the payments secure?
Yes, they are. The security protocols are the same as those used by online banks. During the deposit process, no sensitive data can be stolen. Furthermore, a private mode is activated on the casino’s banking page during any transaction.
How long does it take to receive my winnings?
Depending on the casino you’ve chosen, and the payment method, the wait time will vary. It usually takes from 1 to 5 days. You can be sure that any online casinos featured on Online Casino Today is 100% reliable though. The delays are also quite short with these casinos, with e-Wallet and Interac transfers only taking 24 hours. However, the most common choice for withdrawing winnings is via credit card. We do advise requesting a bank transfer (or check) for any large winnings, which takes around five days. Our tests revealed that Golden Tiger Casino has the shortest turnaround time.
Payment and withdrawal methods at online casinos
Below is a list of online casino banking methods. Unsurprisingly, the credit card takes first place, followed by the debit card and then Interac.
Visa and Mastercard are the two credit cards used to make deposits but are also ideal for receiving winnings. Using one of these two cards gives immediate access to the games. If you don’t have a Visa or Mastercard, you can request one from your bank. It’s also possible to order one from the websites listed below. In terms of fees, our analysis has shown that Mastercard is cheaper.
Debit cards are the safest method and as such, are recommended on our guide. Maestro, Visa and Mastercard are the three most widely used debit card brands at online casinos. Just like with credit cards, you can access games instantly with a debit card.
Interac is a popular banking option in Canada, as deposits and withdrawals are processed quickly. If you’re looking for a tried and trusted method, this is the one for you. It’s important to remember that not all online casinos accept Interac. However, if you have an Interac card, we recommend the highly-rated casino, Casino Action.
Deposits and withdrawals take longer with bank transfers. However, we do recommend this method if you’re lucky enough to win some money. All banks in Canada accept this method for receiving winnings.
Neteller is the most popular e-Wallet and is used worldwide. To withdraw winnings, you can order a transaction between the casino and your Neteller account in the desired currency. Once this has processed, you can then move the money to your bank account.
Paysafecard is a great choice if you don’t have a credit or debit card. A Paysafecard allows you to buy a prepaid card worth up to CA$ 250. With this method you are 100% protected. It’s impossible for anyone to access your accounts and personal data with a Paysafecard.
iDebit makes it easy to make deposits at online casinos. The card is funded through a bank account. So, iDebit acts as a third party between your bank and the casino site.
EcoPayz is a flexible method of payment that all online casinos accept. There’s a high level of security, and the management fees are quite low. Users who feel comfortable with e-Wallets are often impressed by ecoPayz.
Depositing money to an online casino via Skrill is quite common and is a standard payment method in all online casinos. The best part is that you don’t have to enter your bank details on the casino site. But, when you send funds via Skrill, you have to pay a commission. This commission varies from CA$ 1 to CA$ 10. Withdrawals cost around CA$ 5.
Playing for money at online casinos – Useful info
When it comes to depositing or withdrawing money, the options available to online casino members are reliable. To reassure you, we’ve compiled a checklist of the most important points below. These are all standard requirements imposed by online casinos in Canada.
- You must provide documents that prove your identity (copy of your passport and proof of your address). When you make a withdrawal request for the first time, this step is mandatory.
- The identity of players must remain private. Personal data of players cannot be used for commercial purposes.
- Payment methods must be secured at the highest level.
- A 128-bit SSL encryption must be activated for each bank transaction. This is a guarantee of security.
Do I have to pay a fee to the casino when making a payment or to cash out?
No, there are no fees to pay, except for bank to bank transfers. If you use a credit or debit card, there’s no charge at all. The same applies to e-Wallets in one sense, but you will have to pay a fee to the e-Wallet provider.