Need help determining the best methods to deposit and withdraw money from online casinos in Canada?
Whether you’re new to online casinos or coming back to them after a hiatus – I’m going to outline the best and worst online casino deposit options for Canadian players.
The days of using Skrill (Moneybookers) and Neteller are long gone. Credit cards are increasingly harder to use. In fact, I haven’t had a credit card of mine work in a while. However, depositing and receiving payouts doesn’t have to be difficult.
There are still plenty of great banking methods. In fact, some are better than credit cards and e-wallets.
With the best banking options – players can send and receive CAD ($) without any fees from the online casinos.
Best banking deposit methods
Personally – the best deposit options are those that can be hooked up to my bank account.
Interac e-Transfer: Who hasn’t sent an Interac e-Transfer? I send them practically daily. Not many operators have this method, but some of the best Canadian casinos allow you to send an e-transfer from your bank account in minutes.
Debit Cards (Direct Bank Transfer): Enter your banking details, the amount you wish to deposit and confirm. You’ll have the funds available immediately with zero fees, plus payouts can be sent directly back to the same account.
BillPay: BillPay isn’t instant – funds become available the next day. However, it can’t get easier than going online and sending a payment from your online banking account (chequing or savings) to a casino.
iDebit: A relatively new e-wallet – iDebit allows Canadian players to use their bank account to deposit to casinos without giving the operator any banking details. The convenience of online banking with an added layer of security.
InstaDebit: Another e-wallet that allows Canadians to fund accounts using any bank in the country. You can keep funds in your InstaDebit wallet or simply make a deposit through InstaDebit using online banking anytime.
Bank Wire (Bank Transfer): Note – it can take 2-10 days for funds to post when sending a wire. However, sending a wire is by far the most convenient and safest way to send large sums ($5k-$50k) of money to an online casino.
Prepaid Cards (Visa/MasterCard): Prepaid cards would have made the “best of” list above if it weren’t for the fees. Take EntroPay for example – it costs 4.95% to load the card, plus another 1.95% to receive money.
Ukash: I’m sure you’ve heard of Ukash by now – they’re everywhere in Canada — including many corner stores and gas stations. Buy a Ukash voucher, enter the code at participating casinos and start playing instantly. Fees are bad, though.
PaySafe Card: Another international prepaid voucher company that operates in Canada ($CAD). Ukash is the same thing and easier to use in my opinion, as Ukash vouchers can be bought everywhere and more online casinos accepts Ukash.
ClickandBuy: One e-wallet still available to Canadians is ClickandBuy. In order to deposit using ClickandBuy, players need to initiate the transaction from the online casino cashier. The method is safe and the fees aren’t too bad either.
Bitcoin: I don’t need to use Bitcoin (BTC), as I prefer using online banking still, but Bitcoin can provide you an extra layer of security and anonymity. There are no fees, big deposit limits and payouts can be processed in minutes.
Worst online casino deposit methods for CA players
Credit Card: If you want to use a credit card – go the prepaid route. Most credit cards or debit cards issued by banks in Canada won’t work. If your credit card works – only Visa can be used as payout method — MasterCard can’t.
Cheque: I don’t mind waiting for a cheque payout if required, although that never happens at the best online casinos in Canada. However, I can’t recommend using cheques as a deposit method – since cheques take way to long to process.
You now know exactly what deposit options are best for Canadians depositing to online casinos. Using your bank account is by far the best option right now and I haven’t run into any problems with TD and I have quite a few incoming and outgoing transactions.
Some of the best options are geared specifically for Canadians and I like looking for those when analyzing potential casinos to play with. I want to see if they cater to the Canadian market of if we’re just an afterthought.
Another important banking feature for me is whether or not the casino offers CAD deposits and payouts. I’m not interested in paying the currency conversion fees charged by most payment processors, so I stick to online casinos offering CAD ($).