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.
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.