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Banking Options at Canadian Online Casinos

By Guy Evans on

BestOnlineCasinos.ca is dedicated to helping customers find the best place to play online. Your safety and well-being is a priority, which is why all of our expert casino reviews are 100% honest and unbiased, and we highlight the key terms and conditions of every casino bonus we advertise. Whilst we accept commission from the casinos on our list of recommendations, and this may affect where they’re positioned on our lists, we only recommend casinos that we truly believe are safe and fair. Of course, we can’t rate and review every casino site, but we do make sure that only the best licensed casinos make it onto our lists.

BestOnlineCasinos.ca is dedicated to helping customers find the best place to play online. Your safety and well-being is a priority, which is why all of our expert casino reviews are 100% honest and unbiased, and we highlight the key terms and conditions of every casino bonus we advertise. Whilst we accept commission from the casinos on our list of recommendations, and this may affect where they’re positioned on our lists, we only recommend casinos that we truly believe are safe and fair. Of course, we can’t rate and review every casino site, but we do make sure that only the best licensed casinos make it onto our lists.

From e-wallets to instant banking, prepaid cards to eChecks – punters are spoilt for choice when it comes to the payment methods menu at online casinos. Each banking option has its own associated perks and drawbacks, and it’s down to the individual to decide which option is best for them based on their own gambling habits.

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Read on to uncover everything there is to know about the best online casino payment methods.

Take a look at our reviews of Canadian gambling sites, compare welcome bonuses and games collections, and make your first deposit at a top online casino!

Top Online Casinos in Canada - July 2024

icon Accepts CA Players
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Rank Online Casino Casino Rating Sign-up Bonus Score Key Features Sign Up Terms & Conditions
1
786 user ratings

Up to $1500

9.9
  • Fast Withdrawal Payment Methods
  • New Casino
  • Great for Live Poker and Baccarat
This promotion is available to members of Silverplay first-ever four deposits 01.09.2021 – 31.12.2023. Eligible customers are entitled to claim any of the following reload deposit bonuses, entering the corresponding bonus code with their deposit. The minimum deposit to qualify for the promotion is $20. Following a successful deposit with the respective bonus code, members will be granted with the corresponding bonus instantly. Members cannot receive the bonus if they failed to enter the bonus code with their deposit. Full T&Cs apply. 18+ Please Gamble Responsibly. Click 'Claim Bonus' to view full terms and conditions.
2
743 user ratings
Expert Review

100% Up to C$100 +C$2400

9.7
  • Brilliant Live Casino
  • Vast Array of Payment Methods
  • Generous Welcome Offer
You will receive your 100% First Deposit Bonus instantly, up to $100, as soon as you make your first single deposit of $10 or more. See full terms here. 18+ Please Gamble Responsibly. Click 'Claim Bonus' to view full terms and conditions.
3
590 user ratings
Expert Review

100% Up to C$1000

9.6
  • 3000+ Slot Games
  • Mobile Friendly
  • Casino & Sports Bonuses
1. The minimum deposit amount eligible for the Bonus is 20 EUR/CAD/BRL 2. The maximum bonus amount per deposit is 1000 EUR/CAD/BRL 3. Casino Welcome Bonus applies only to the Casino Slots. 4. Bonus will be credited to your account immediately after your first deposit. Then you should activate the bonus manually. (You should activate the bonus first and then play casino, otherwise, you will not get the bonus). Casino Welcome Bonus AND Deposit are subject to wagering requirements of 35 times. (Deposit + Bonus amount). 18+ Please Gamble Responsibly. Click 'Claim Bonus' to view full terms and conditions.
4
431 user ratings

Up to $1200

9.6
  • Large Welcome Bonus
  • Large Selection of Payments
  • Birthday Bonus Available
Only one bonus is awarded per person (e-mail or IP address), unless stated otherwise. Any bonuses are not available to players from Sweden, including participation in any kind of promotional programs, receiving VIP rewards, as well as exchange of comp points. To submit a withdrawal request, the account must be fully verified and a minimum deposit must be made. There are min and max bet limits indicated on the game icons of live dealer games. Min bet value stands for the minimum bet amount accepted in this game, while max bet refers to the table max bet which is the maximum amount of total bet that a player can make at a gaming round. 18+ Please Gamble Responsibly. Click 'Claim Bonus' to view full terms and conditions.
5
568 user ratings

100% Up to $500 + 200 Free Spins

9.5
  • Sleek Website
  • Weekly Challenges
  • Exchange coins for free spins
The maximum bonus amount is 750 CAD. The minimum deposit to receive a 100% bonus on your first deposit and 200 free spins is 30 CAD. Neteller and Skrill do not qualify for this promotion 18+ Please Gamble Responsibly. Click 'Claim Bonus' to view full terms and conditions.
6
432 user ratings

Get up to $1200 + 550 Free Spins

9.4
  • Brilliant Array of Payment Methods
  • Great for Slots
  • Lottery Available
Only one bonus is awarded per person (e-mail or IP address), unless stated otherwise. To submit a withdrawal request, the account must be fully verified and a minimum deposit must be made. There are min and max bet limits indicated on the game icons of live dealer games. Min bet value stands for the minimum bet amount accepted in this game, while max bet refers to the table max bet which is the maximum amount of total bet that a player can make at a gaming round. The maximum bet with an active bonus is 7 CAD. Minimum deposit required is 30 CAD. 18+ Please Gamble Responsibly. Click 'Claim Bonus' to view full terms and conditions.
7
147 user ratings
Expert Review

Up to C$200 + 100 Free Spins

9.3
  • Huge Choice of Games
  • Live Dealer Tables
  • Great VIP Club Perks
New players only. 19+. Min deposit $10. Wagering requirements apply. 35x. Offer valid for 72hr. 100 spins include 3 deposits. T&C apply. 18+ Please Gamble Responsibly. Click 'Claim Bonus' to view full terms and conditions.
8
89 user ratings
Expert Review

Up to C$9300 + 500 Free Spins

9.3
  • Massive Welcome Bonus
  • Bitcoin & Fiat Casino
  • Mobile Friendly
Any issued bonuses are by default limited to a maximum bet during wagering: 5 CAD. Maximum bet during real money wagering: 75 CAD. The winnings obtained by using bonuses become available for withdrawal only after meeting the requirements of all wagering rules. 18+ Please Gamble Responsibly. Click 'Claim Bonus' to view full terms and conditions.
9
189 user ratings
Expert Review

Get A 100% Matchup Bonus +50 Free Spins

9.2
  • Great for Slots
  • Lots of Free Spins Available
  • Interac Approved
New players only, $20 min fund, $200 max matchup bonus, free spin wins credited as bonus, 65x wagering requirements, max bonus conversion to real funds equal to lifetime deposits (up to $250), full T&C's apply. 18+ Please Gamble Responsibly. Click 'Claim Bonus' to view full terms and conditions.
10
172 user ratings

Get a C$5000 Welcome Bonus

9.1
  • Trophies & Promotions Available
  • Large Welcome Bonus
  • Large Slot Selection
Matchup Bonus of 200% up to $3,000 on your first ever deposit of $5 or more. Matchup Bonus of 100% up to $1,000 on your 2nd and 3rd ever deposit of $5 or more. Matchups will be awarded in Bonus funds. $5,000 max total bonus. 65x wagering requirements apply, max bonus conversions equal to lifetime deposits (up to $250) full T&Cs apply 18+ Please Gamble Responsibly. Click 'Claim Bonus' to view full terms and conditions.

How Do I Deposit Funds at a Canadian Online Casino Site?

To make an online casino deposit at a Canadian casino, follow these simple steps:

  1. Use the BestOnlineCasinos site to survey the best online casinos in Canada;
  2. Read reviews, compare welcome bonuses, and click through to a site you like;
  3. Sign up by entering your personal information;
  4. Select your preferred payment method and key in the deposit amount – be sure to opt-in for the welcome bonus if you want to claim it;
  5. Wait for verification procedures to be complete, authorizing the transaction when prompted;
  6. Place your first wager.

How Do I Withdraw Funds at a Canadian Online Casino Site?

Withdrawing from an online casino couldn’t be easier. Here’s how it goes:

  1. Having satisfied all the terms and conditions, head to the site’s cashier page;
  2. Hit the withdrawal button to make a request;
  3. Select the payment method with which you’d like to make the withdrawal;
  4. Enter the amount you’d like to withdraw, before hitting confirm;
  5. Wait for clearing at both ends – depending on your selected banking method, this can take seconds or up to six working days;
  6. Once everything’s been processed, your money will appear in the designated account for you to enjoy.

Canadian Casino Banking Methods

There is now a wide list of online casino deposit options. Whether you’re looking for the option that can offer the quickest deposits and the fastest bets, lightning-fast withdrawal processing times, or the best security, you’ll find there’s plenty of choice out there. Here are some of the most popular categories of online casino payment options – within these categories, there are further options that we’ll break down individually. 

Instant Banking

Through your debit card, credit card, Interac Transfer, or a checking account, punters can place bets directly from their bank account. These options always have high limits on deposits and withdrawals, but rank among the slowest in terms of withdrawal speeds – players can expect to receive their winnings between 2-6 working days. This is because there are extensive checks at the banking end which can slow the transaction down. On the plus side, deposits are made instantly. These methods are accepted at all Canadian online casinos.

e-Wallets act as intermediaries between casinos and banks, which reduces processing times on withdrawals. At top fast payout casinos, players could receive their e-wallet withdrawals almost instantly, though it can sometimes take up to two working days. Punters are drawn to the ease of e-wallets, and they don’t require any bank information at the point of transaction as players authorize their requests through just a username and password.

e-Wallets are now widely accepted at online casinos, but it should be noted that Canadian operators don’t accept PayPal. Players may also incur small fees when using some e-wallet services at casino sites.

Prepaid cards contain a monetary value stored on the card itself. Funds are topped up by the user from a linked bank account, but prepaid cards are independent of banking institutions. There are high limits on deposits and withdrawals with prepaid cards, and there’s no need to exchange bank information with your casino when you make a transaction. This means payments are quick and less susceptible to hacks or online fraud.

Cryptocurrencies are now beginning to appear as an online casino banking option, with players attracted to high limits and fast payouts. However, we strongly advise anyone interested in using cryptocurrencies to conduct their own research beforehand. Cryptocurrencies are a deregulated currency, and trading with them is considered less economically secure than trading in material currencies. 

Canadian Casino Payment Methods


Here are some individual casino payment methods that fall under the umbrella of the options listed above.

Name Availability Deposit speed Withdrawal speed Description Pros and cons
Excellent
Deposit speed
Instant
Withdrawal speed
Up to 6 working days

Interac

Interac Transfer allows casino players to make deposits in a similar way as they would with a debit card. What you gain in accessibility here, you lose in speed, with withdrawals landing in your account within six working days. Users will also be charged a small fee on transactions with this option.

Excellent
Deposit speed
Instant
Withdrawal speed
Instant

iDebit

iDebit payments function in a similar way to e-wallets, allowing for quick deposits and even faster payouts. While it’s free to set up an iDebit account, users will incur a small fee of $1.50 on all transactions.  

Excellent
Deposit speed
Instant
Withdrawal speed
N/A

eChecks

If you’ve verified a checking account with your casino site, you can make deposits with eChecks – an electronic equivalent to physical checks that requires the same banking information to make payments. eChecks are a useful casino deposit option, but can’t facilitate withdrawals.

Excellent
Deposit speed
Instant
Withdrawal speed
Instant

Instadebit

InstaDebit is another third party intermediary between casino and bank, eradicating the need to input bank information when making a deposit, and allowing for fast payouts. InstaDebit itself won’t charge fees on transactions, but some online casinos might.

Excellent
Deposit speed
Instant
Withdrawal speed
Instant

Payz

Another e-wallet option, EcoPayz places an emphasis on responsible banking, providing users with regular summaries of their transaction history to help keep track of funds. There are no fees with this option, and users can enjoy fast payout times.

Poor
Deposit speed
Instant
Withdrawal speed
N/A

Webmoney

WebMoney is an e-wallet service founded in Russia in 1998 with excellent security infrastructure and lots of authentication processes. Users should note that WebMoney charges a fee of 0.8% on all transactions up to $50.

Good
Deposit speed
Instant
Withdrawal speed
Instant

AstroPay Card

AstroPay card is a prepaid card option that allows users to make transactions without revealing any banking information. Users can download an AstroPay card directly onto their phone, selecting their currency and preferred payment method as they set up their account. 

Good
Deposit speed
Instant
Withdrawal speed
N/A

Flexepin

Flexepin is a cash top-up voucher that operates like a prepaid card, but uploads funds to other existing e-wallet or prepaid card accounts. Flexepin vouchers can be bought with cash in retail outlets, using a unique 16-digit code to top-up funds in the designated account.

Poor
Deposit speed
Instant
Withdrawal speed
Instant

Bitcoin

Bitcoin is a cryptocurrency that is beginning to carve a space for itself on the payment menus of more and more Canadian casino sites. All transactions are immediate, but there are some associated risks to trading with Bitcoin – and cryptocurrencies in general – so make sure you’ve read up on these before you utilize this option.

Excellent
Deposit speed
Instant
Withdrawal speed
Slow, 3-5 working days

Visa and Mastercard

With all this noise of new banking technologies, it can be easy to forget the humble Visa and Mastercard options. These two stalwarts of online transactions have been available at online casinos ever since their inception, and you’ll find that all Canadian sites will accept them.

Top Online Casinos in Canada

  • BitSpin Casino
    BitSpin Casino
  • Europa Casino
    Europa Casino
  • 31 Bet
    31 Bet
  • Magic Red
    Magic Red
  • Oshi Casino
    Oshi Casino
  • Amazon Slots
    Amazon Slots
  • Loot Casino
    Loot Casino
  • Buffalo Spins
    Buffalo Spins
  • Royal Vegas
    Royal Vegas
  • Spin Casino
    Spin Casino

Fast Payout Casinos

Online casinos that can offer a range of payment methods are usually able to facilitate fast payouts to their customers. Newer banking technologies such as e-wallets, prepaid cards and cryptocurrencies aren’t dependent on arduous processing times at either end of the transaction, meaning that players can get their hands on their winnings within moments. In the best instances, players will receive their funds instantaneously, but some fast withdrawals may still take up to 24 hours to register in a player’s designated bank account.

KYC Verification Process

One potential hiccup between you and a fast withdrawal is the ‘know your customer’ or KYC check. This is a mandatory process for all licensed casinos that helps protect online players from hacks or fraudulent attempts. In order to be sure that a transaction request is legitimate, online casinos will initiate a verification process that allows the user to prove that they are who they say they are – usually by uploading a form of formal ID or a proof of address.

KYC protocols take place on every casino transaction, but if your account hasn’t been verified yet, these checks can take a bit of time. Once you’ve verified your identity, the process is automated and completed within moments.

Ready to Make Your First Deposit?

If we’ve answered all your questions on the best online casino payment methods, then have a flick through our recommended casino sites, click through to one that offers your banking option, and make your first deposit.

Frequently Asked Questions

Contributors

Guy is a writer for BestOnlineCasinos.ca with a keen interest and expertise in the online gambling space. He’s also an avid fan of football and cricket, often found lamenting the fortunes of his beloved Tottenham Hotspur.

Marcus is a Head of Content at BestOnlineCasinos.ca and is currently based in London, UK. Along with managing content across the site, he’s an expert in all things related to online casinos, with a particular personal interest in poker and blackjack.

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