Selecting a Payment Method
We’ve broken down some of the most common banking methods at Canadian gambling sites. Not all of these can facilitate fast payouts – or any payouts, in some cases – but they nevertheless represent the wide range of banking options available to Canadian players.
Trustly uses Open Banking technology to process transactions between online merchants and customer’s bank accounts. Using Trustly at fast payout casinos means you won’t have to share your bank details — instead, you’ll be prompted to log in to your bank via Trustly’s secure portal. Trustly doesn’t save any information that can be used to access your bank, and it offers faster payouts than debit and credit card withdrawals, with a wait time of around two days on average.
If you’re after a fast withdrawal online casino, e-wallets are the best way to go — they’re known for quick transaction times and excellent security. Typically, the withdrawal process will be completed in two days or less, but this does depend on a casino’s pending period.
ecoPayz is the most widely accepted e-wallet at Canadian casinos, offering lightning-fast payout times, high limits on deposits and withdrawals, and the ability to link to several bank accounts at once. ecoPayz users can also participate in a tiered loyalty program structure. All ecoPayz account holders will automatically be enlisted into the lowest tier, and can work their way up through silver, gold, platinum, and VIP status, receiving better perks as they go.
Alternatively, MuchBetter is another popular e-wallet option at fast paying casinos. It shares all the same benefits as ecoPayz, including a loyalty points scheme. You’ll receive 25 points as soon as your MuchBetter account is verified, and there’s also an annual MegaDraw that awarded 60,000 USD to one user in 2020. Both ecoPayz and MuchBetter offer their customers a dedicated Mastercard, through which they can access their account funds and make payments at any vendor that accepts Mastercard transactions around the world.
Making payments with both of these methods is straightforward, with transactions authorized through linked account information such as usernames, email addresses, and passwords. This adds an extra layer of security to the process, since there’s no need to share sensitive banking information with the casino. It’s rare that this exchange causes problems at licensed casino sites, but you may enjoy the peace of mind that comes with extra security provisions.
Visa and Mastercard
Accepted at almost every Canadian online casino, credit and debit cards have been the go-to payment method ever since the inception of gambling sites. Bank cards have among the highest limits on deposits and withdrawals, but aren’t typically capable of delivering fast payout times, which can take up to five working days in the slowest cases.
However, Visa users can access the Visa Fast Funds facility to speed things up.
You can make payments at online casinos with eChecks. These require exactly the same banking information as a physical check – including checking account number, check number, and routing number. Once your checking account has been verified with the casino, eChecks are a quick and convenient payment option, with high limits on deposits.
Unfortunately, eChecks aren’t capable of processing withdrawals, so fast payout times are out of the question. Instead, eChecks should be considered in conjunction with other casino site banking methods.
Interac’s e-Transfer service is another useful option for Canadian online casino players. While Interac Online can also be used for deposits, only the e-Transfer service can facilitate both deposits and withdrawals.
Unfortunately, this option is less widely accepted than other options listed here.
Interac withdrawals tend to have similar withdrawal speeds to bank cards, and can take up to six working days in some cases. There’s also a small fee on deposits, though the size of this doesn’t change with larger deposits. For added security, transactions are authorized by a security question, though you can opt out of this feature if you prefer.
Although rare, Bitcoin and other cryptocurrencies have started emerging as payment options at some online casinos. Cryptocurrencies aren’t restricted by any financial institutions, so limits on deposits and withdrawals are high, and you can expect instant withdrawal times too.
However, we strongly advise anyone interested in using these methods to conduct their own research first. Cryptocurrencies aren’t tied to any material currency, so trading with them is considered less economically secure than trading in dollars or other currencies. In addition to this, users of cryptocurrencies at online casinos won’t receive any customer support services from their cryptocurrency of choice.