Most online casino players want to be able to complete payment transactions quickly, easily and securely. There is a wide range of payment methods offered by online casinos. Some of these payment methods are for deposits only, while others allow players to make deposits and withdraw their winnings. In our review, we will discuss the most popular and reliable payment methods in online casinos. We will also show Canadian players how to find the casino payment method that’s right for them.
How do we select and evaluate online casino payment methods?
The casinos and payment methods we recommend are accessed using the criteria below.
- Security and Reliability
When evaluating a casino payment method, our team at casinosforcanada.com always tests the strength of the casino site’s security and credentials. Our team verifies that the online site holds a valid license from a recognized gaming authority. We ensure that the online casino uses a fully secure, SSL encrypted connection for the safety of players’ sensitive information or financial data. We also run a background check on the online casino to find out where it is registered and which company owns and operates it.
- Depositing/Withdrawal of funds and Contact customer support
In order to get a positive recommendation from us, an online casino must be able to facilitate deposits and withdrawals quickly and easily. Our team at casinosforcanada.com ensures that any casino we recommend has a variety of deposit methods, including the most popular ones such as debit and credit card, bank transfer, PayPal, Neteller, Bitcoin, or other cryptocurrencies. We also contact the customer/technical support team anonymously with some specific questions and queries to see how quickly and thoroughly issues are dealt with.
- Bonuses & Fees
Every player wants an extra incentive to play games at a casino. Therefore, our team always searches for online casinos that offer the best bonuses to Canadian players. These bonuses make gambling much more fun for players. We also check to see that the casinos do not charge extra or unnecessary fees during payment transactions.
Best online casino payment methods
There are numerous online casino payment methods that players can use. Here, we will outline the most popular payment methods and provide information about their security levels, advantages and disadvantages.
Credit and debit cards
A large number of online casinos in Canada accept credit and debit cards as a payment method.
- Visa Cards
The Visa is the most accepted payment method at online casinos, as it is universally available.
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- MasterCards
MasterCards are also widely accepted at many online casinos as a deposit or payment method. MasterCards are simple, quick and secure to use for online casino deposits.
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Electronic wallets
An e-wallet is a type of electronic card which is used for transactions that are made online, through a computer or smartphone. This is a very popular method for making payments online. An e-wallet is used the same way as a debit or credit card, and needs to be linked to an individual’s bank account to make a payment. E-wallet providers include Paypal, Neteller, and Skrill.
PayPal App
PayPal is currently the most popular e-wallet worldwide, with over a million active users in Canada. Using it to make online casino payments is very easy. All a player has to do is link their Paypal account to their online casino account. Paypal uses sophisticated SSl encryption to safeguard data.
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Paysafecard
The Paysafecard is an e-wallet provider that is known for its high level of security. Canadian players can use this prepaid card with vouchers that have a unique 16-number PIN code.
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Skrill
Skrill is a popular e-wallet option that is regulated and governed under UK law and works just like PayPal does. Canadian players can load their online account and use it to fund online casino deposits and withdrawals. It is available in almost every country.
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Neteller
Neteller is a Canadian e-wallet service that is one of the oldest payment methods in online casinos. Used around the world, this e-wallet has a wide reach and strong security measures.
Neteller remains a popular payment method that is accepted almost everywhere. Canadian players can deposit and withdraw quickly by either using their Net+ card or transferring the balance to their bank account.
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EcoPayz
Ecopayz is another secure e-wallet that is becoming increasingly popular. Its ecoAccount feature allows Canadian players to perform all of their online casino transactions at one endpoint.
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Online casino prepaid cards
Paysafecard
Paysafecard is the leading prepaid card in the online gambling world, especially in Europe and the United Kingdom. Almost every online casino accepts Paysafecard due to its high level of security (because players do not have to pay directly with their credit/debit card) and minimal fees. Canadian players can buy one in a different location and deposit money into it electronically.
EcoPayz
EcoPayz also offers a prepaid card with its ecoCard. The ecoCard works the same way as a Paysafecard in terms of managing online deposits and withdrawals at countless locations around the world.
It is also free to acquire an EcoPayz card and a credit check is not required. Customers may opt to use a single-use prepaid card or an ecoCard.
Online casino wire transfer
Online casino wire transfers, also known as credit transfers, involve transferring money from one account to another. Funds can be transferred from the player’s bank to their casino account or vice versa. This transfer can be processed through your preferred local bank. This payment method is common among Canadians.
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Mobile payments
Mobile payments or pay by phone casinos are becoming more popular. Many online Canadian casinos have completely embraced this payment method. The numerous options available include Boku and Zimpler, both of which allow players to move their bankroll to their mobile phone credit. At the end of the month, the amount that a player is owed is paid through their mobile phone bill. The disadvantage is that withdrawals can’t be made using this method.
Instant bank transfers at online casinos
Instant bank transfers at online casinos is a payment method that offsets the typical disadvantages of conventional bank wire transfers, especially with regard to transaction processing times. The providers of this service include:
Trustly
Trustly is one of the most popular instant bank transfer service providers for iGaming operators and online sportsbooks, especially in Canada. Trustly works as a middleman and transfers funds straight from a player’s bank account to the player’s online casino of their choice. The player does not have to enter or send any of their essential payment details.
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iDeal
iDeal is another tpopular instant bank transfer provider. It does not impose transfer charges and it offers optimal transaction flexibility.
Giropay
Giropay is similar to iDeal. Its main advantage as a payment method is that it is remarkably easy to use.
Paying with cryptocurrency at online casinos
In the last few years, paying with cryptocurrency has gained traction. It is becoming increasingly popular with online sportsbooks and casino portals because it offers players complete anonymity.
Apart from bitcoin, other cryptocurrencies are being used, including Litecoin, Monero, and Bitcoin Cash. These cryptocurrencies are able to process transactions much cheaper and faster than traditional Bitcoin, which makes them enticing payment options for online gambling.
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Google Pay and Apple Pay payments in online casinos
Google Pay and Apple Pay are used for online transactions. Google Pay is owned by Google, so Canadian players who have a Google Play Store account can use this payment method at online casinos. Apple Pay is owned by Apple, so Canadian players who use iPhones or ipads and have Apple accounts can use Apple Pay as a payment method.
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What is the KYC procedure and is it related to online casino payment methods?
The KYC (Know Your Customer) procedure is the mandatory process of identifying and verifying a client’s identity. It allows online casinos to ensure that their clients are actually who they claim to be. Players should not fear this process because its primary goal is to guarantee that players withdraw their winnings safely to their account, and prevent money laundering or other illegal, fraudulent activities.
The KYC process includes ID card verification, face verification, biometric verification, and document verification such as a utility bill that serves as proof of the player’s address.
FAQ
What deposit methods are available at online casinos?
There are a variety of payment methods that Canadian players can choose from. The player selects the payment option that is most convenient for them. The quickest and easiest ones include credit/debit cards, e-wallets, offline payment methods and cryptocurrencies.
What withdrawal methods are available at online casinos?
There are many withdrawal methods available at online casinos. Canadian players will notice that there are fewer withdrawal options in comparison to deposit options. Therefore, we recommend that you do some research before you select a payment option to transfer your money.
Are casino withdrawal methods the same as the deposit methods at online casinos?
Withdrawal methods tend to differ, depending on which casino you choose to play at. Therefore, Canadian players should always read about the withdrawal methods available before signing up, so that they can avoid the disappointment of their preferred method not being listed.
Can I track previous deposits and withdrawals at online casinos?
Canadian players can track their deposits and withdrawals by checking their bank statements and casino account’s history. In their account history, a player will be able to see how much money they have transferred to and from their account.
Are there any withdrawal limits at online casinos?
Yes, there are withdrawal limits at online casinos. Some casinos might put a limit on the amount that can be withdrawn per week. For example, if you win $1,000 and the limit is $500 per week, it will take you 2 weeks to withdraw all your money. It is important that players always read through the casino’s withdrawal conditions.
