To get the most out of playing at a Canadian online casino, you need a payment method that is convenient, widely accepted, straightforward to use, reliable and, above all, fast.
This is the case when you’re depositing funds, but even more so when you want to cash out your winnings. This is because when you request a withdrawal from your online casino account, it can often take between 24–48 hours before it’s processed, and so you don’t want the business of getting your hands on your money to be further delayed by slow processing times at your bank or financial institution.
Our guide to casino payment methods describes how the different options accepted at our recommended online casinos operate and which are the quickest and most convenient for Canadian players.
All of the online casinos that we list accept Visa and MasterCard as payment methods – this includes both credit and debit cards. Other credit cards, like Diner’s Club and American Express, are almost never accepted for online casino payments.
Visa is the most universally accepted card and can generally be used to make both deposits and withdrawals at our recommended casinos. However, this is not the case with MasterCard – most sites will accept it as a deposit method, but a growing number do not allow it to be used for withdrawals. Therefore, if you have a MasterCard, we recommend that you instead look to one of the methods outlined below to fund your casino account.
are generally a safe and efficient way of operating your online casino account and are accepted as payment methods at all of the Canadian sites that we recommend. The two primary reasons for using an e-wallet are that they tend to provide the quickest payout times, and they also add an additional layer of security to the operation of your account. The most popular and universally accepted e-wallets are PayPal, Neteller and Skrill.
With both Neteller and Skrill, once a withdrawal request has been processed by the casino, your funds are available immediately – there is no additional processing time as is the case with credit cards and other bank-based transfers.
Using an e-wallet also helps to protect your financial and personal information as you don’t have to share this with the casino in order to make deposits and withdrawals, and so there is less chance of your information being hacked or stolen.
Another advantage is that Neteller and Skrill accounts are free to set up and easy to operate. Also, you can use them for other online purchases and transactions as well.
A growing number of Canadian casinos are once more accepting PayPal as a payment method, after they cut their involvement with the industry for a number of years. Known the world over, PayPal is one of the most secure online payment systems available and has the added advantage of very fast processing times – when you withdraw funds from your casino account, they’re available almost immediately (although if you then transfer funds to a bank account, this can take 3-5 working days, depending on the bank).
It’s free to set up and operate a personal PayPal account (all you need is an email address) and adding funds is simple and quick.
Deposit – A bank wire or direct bank transfer is accepted by the majority of casinos we recommend as a payment method. This allows you to transfer funds directly from your bank account to the casino, without having to go through a third party. However, despite this fact, it is actually one of the slowest methods available, and money can take up to 72 hours to reach your casino account after it has left your bank.
Withdrawal – This lack of speed can be even more marked going the other way – when you make a withdrawal request using a direct bank transfer, transaction times of up to 10 working days are not uncommon. Another disadvantage is that you’re sharing your financial details directly with the casino and all transactions appear on your bank statements. However, as most Canadian banks offer both internet and phone banking, it does mean you can make transfers 24/7.
Using a pre-paid debit card (or a virtual card) is a popular payment method and they are universally accepted at our Canadian casinos. As they don’t offer a line of credit but only enable you to use your own funds, they are a good way of monitoring your spending. Canadian players have several convenient and secure options when it comes to pre-paid and virtual cards.
Instadebit – This is the best known and most convenient, and operates in the same way as a check or debit card, although it’s not necessary to pre-fund it before using it to deposit funds into your casino account. This is because your Instadebit account is linked to your Canadian bank account, and on opening an Instadebit account you receive a temporary transaction limit (which will be revised depending on how much you use it). There are fees added to each transaction, both adding and withdrawing funds. ($1.95 and $2.00 respectively).
PaySafe – Another popular choice is PaySafe Card. Completely pre-paid, it gives you control over your finances and the added security of not having to share your financial details with a third party. However, there is a significant disadvantage in that a PaySafe Card cannot be used to make a withdrawal from your casino account, and so you need to find an alternative way of doing this (most of our casinos will opt to send you a bank check).
EntroPay – If you want to use a pre-paid payment method, you should also consider EntroPay. This is a universally accepted pre-paid Visa card, and withdrawals are credited back to you immediately. There is also the advantage that there are no credit checks involved in getting an EntroPay Card, and no casino transactions appear on your banking records or statements. You will, however, incur a fee when you load funds on to your EntroPay Card via credit card or direct bank transfer (4.95% and 3.95% respectively).
The online casinos that we recommend all accept the payment methods outlined above, and so Canadian players who opt for any of these will have no problems in being able to run their accounts.
All of these payment methods have their merits and their disadvantages, and so to help you to decide which method is right for you, consider the following: