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Online Casino Payment Options in Canada

Ever since the first Canadian online casino opened its digital doors players have jumped at the chance to try and win real money from the comfort of their own homes. Yet, to win real money players must first risk their own hard-earned cash. Of course, there are numerous online casino bonuses that can provide a chance to win at no cost to the player but more often than not it comes down to an initial deposit.

This is where online casino payment methods come in. These banking options enable Canadian players to both deposit and withdraw funds in a swift and convenient manner and as eCommerce has become increasingly prevalent more and more solutions have become available. The ever-popular card payment methods, such as Visa, are typically an option at the best Canadian casinos but the market has expanded further to include many alternative choices.

Now, Canadian players can also fund their online casino account using an assortment of eWallet and prepaid card solutions - two of the most popular being Interac and Paysafecard. So, an important factor that you must consider when choosing an online casino in Canada is whether or not the available payment options suit your needs. In most cases, they will, but make sure to read on to discover all of the information you’ll need in relation to depositing and withdrawing real money at an online casino.

Table of Contents

 

Online Casino Banking in Canada

Online casino gaming in Canada has long been a confusing grey area. Although nowadays most forms of gambling have been legalised within Canada’s borders, online gambling is a bit of a trickier situation. According to Canada’s Criminal Code, the hosting of a gambling website within the country’s territory is defined as illegal. However, each province has permission to sanction certain types of gambling that may be operated on or via a computer.

Thankfully, there is nothing to say that Canadian players can’t get in on the action by playing at online casinos that operate outside of the country. Many of the most popular online casinos accept Canadian players, so you shouldn’t run into any trouble finding a site where you can play.

However, one pitfall that could present itself is in relation to specific methods of funding your account. There are certain Canadian banking institutions that strictly prohibit transactions to and from online casinos. Nevertheless, others including The Royal Bank of Canada, Toronto-Dominion Bank, Bank of Montreal and the Canadian Imperial Bank of Commerce, do not. Essentially, you’ll need to check in advance which payment methods your chosen site accepts to avoid any potential disappointment.

Of course, there are many other services that you can use to freely deposit and withdraw funds to and from your account. Several of the most popular banking options work in unison with online casinos to provide a hassle-free means of performing financial transactions. The likes of Visa, Mastercard, Instadebit, Paysafecard and Interac all offer fast, secure and reliable ways of making online payments with the intent of gambling online. As the industry continues to expand, it’s highly likely that even more online casino payment options will become available. Therefore, if you’re looking to play at a Canadian online casino you’ll always have a vast amount of choices at your disposal.

 

How to Choose the Best Payment Method

When deciding upon which payment method to use, there are several important factors that you must consider. Each banking option has its respective pros and cons and these can impact your decision of whether a particular method is right for you. Therefore, we advise that you check out our payment reviews, before making your choice, so that you’re fully informed.

However, there are certain key elements that you’ll always want to bear in mind, which are as follows:

Security

When making any sort of financial transaction online, your biggest priority is to ensure that your personal and banking information is secure at all times. There are certain things you can do to better safeguard these details, such as ensuring your device is free of any malware and/or viruses, but you’ll also want to select a payment method that is inherently safe. For example, eWallets are becoming more popular due to the fact that there is no need to supply the casino with any of your banking information, thus adding an extra layer of security.

Transaction Speed

Nowadays, the majority of payment methods allow for instant deposits. It’s no surprise because online casinos are always eager to help you part with your hard-earned cash, but you should always check whether they’re equally enthusiastic about paying out any winnings. The easiest way to do so is to take a look at the expected withdrawal times for each available payment method.

Fees

You’re already risking your own cash; you don’t want to be hit by any additional fees when depositing or withdrawing. As such, we strongly recommend that you’re aware of any potential charges that your payment method may incur before playing.

Casino Bonus Eligibility

Unfortunately, there are certain payment methods that preclude you from being eligible to receive online casino bonuses. If you’re looking to boost your bankroll by utilising a welcome bonus or deposit match, make sure that the payment method you’re using qualifies for these offers. Big offenders for this are Neteller and Skrill, and many casinos refuse to offer welcome bonuses to players that use these methods. 

 

Top Payment Methods

  • PayPal

PayPal is the most popular and original online payment method on the world wide web. It's also a popular payment method at online casinos.

  • Interac

Interac is a Canadian interbank network that links financial institutions and other enterprises for the purpose of exchanging electronic financial transactions. Interac serves as the Canadian debit card system.

  • Bitcoin

Bitcoin is digital money that's instant, private and free from bank fees. It was the first cryptocurrency to successfully be active on a  decentralized blockchain-based network. Launched in early 2009, it has become the largest cryptocurrency in the world and is now available as a payment option at numerous casinos.

  • INSTADEBIT

INSTADEBIT Inc. is a secure, bank-based payment method that is popular in Canada and available to all Canadian residents.

  • MuchBetter

MuchBetter is an app-based payment wallet that offers instant, safe and convenient payments to people all over the world world. It's currently one of the fastest-growing online payment providers. 

  • iDebit

Like Instadebit, iDebit is an online banking payment method that is trusted and well-used in Canada.

  • Paysafecard

Paysafecard is a prepaid online payment method that's independent of bank accounts and credit cards and is based around 16-digit vouchers. Customers can purchase vouchers and use them to pay online.

  • Skrill

Skrill is an online payment method that allows payments at almost all online casinos using an account. Its advantages are that payments are anonymous and casino winnings can be cashed out.

  • Boku

Boku is a top dog in the mobile payment market and offers online payments without the need for bank details. This British company, now based in America, enables people to pay online using their mobile phone number - with purchases billed to your mobile operator bill.

  • Neteller

Neteller is an e-money transfer service used to transfer money directly from websites. It's favoured for its discretion, ease-of-use and security.

 

FAQ Section

Need more info? Check out our FAQs below and find the Q+A that helps you! 

Many players in Canada prefer to use the instant banking methods available at Interac casinos due to the speed and security of transactions. Alternatively, other popular choices include the prepaid payment option of Paysafecard casinos and the ever-traditional card payment solutions at Visa casinos in Canada.

All of the payment methods that we recommend at CasinoPro have been fully reviewed to ensure they provide a safe and secure means of depositing and withdrawing real money at an online casino. World-leading solutions such as Visa and Mastercard are always great options, but you can also make safe online casino payments via the services of Interac, Paysafecard and iDebit, along with many other banking options.

Regardless of your chosen payment method, depositing funds into your online casino account should be a straightforward process. Begin by navigating the site’s cashier page and from there select your preferred deposit method. Enter the amount you wish to deposit and then follow any on-screen instructions to complete the transaction. Depending on which banking option you choose, you may need to enter additional information. If required, do so and your requested funds should appear in your casino account balance.

Typically, eWallet withdrawals offer the fastest cashouts as the processing times are much swifter than debit/credit card and money transfer transactions. More often than not, an eWallet withdrawal request is approved within an hour or two and then the funds reach your account within the same 24 hours.