So you’ve finally done your research to find your next online casino. You’ve found a trustworthy site with a massive game selection. The next step now is to make a deposit to make use of a casino welcome bonus. Now is the time to secure yourself extra money to play with in addition to a plethora of free spins for online slots.
What deposit methods are available to you? You don’t want to end up in a situation where you can use none of your preferred payment methods to deposit money. Thankfully, most online casinos in Canada offer a wide range of popular payment methods. In the following sections, we will take a quick look at some of these.
Online Bank Solutions
Any reputable casino’s online bank solutions are also likely to be the most popular one among Canadian players. We’re talking about online bank solutions such as Idebit, Instadebit, and Interac. Using these alternatives ensures a quick and convenient way of depositing money into your casino account.
A standard bank transfer is also possible for those who prefer this.
All casino deposits post immediately, meaning you get to enjoy the best casino games at your preferred site instantly. Withdrawals using online bank solutions are subject to processing times of 1-3 days due to the bank’s handling times.
The minimum deposit required usually is $10, lowering the bar for entry for most players. The maximum deposit limit varies, but it’s usually more than high enough for most players.
Credit Cards
Credit cards such as Visa and Mastercard represent another popular deposit method in Canada. Using this option will work pretty much in the same way as with online bank solutions.
Just register your new card, fill in the required information, including the card number and the CVV code, and confirm the transaction. Again, there is the usual $10 minimum deposit, and you will have the money in your account right away. Depositing with credit cards is a great way to take advantage of an online casino welcome bonus. For as little as $10, you can often double your money and get hundreds of Free Spins thrown in. Any popular casino online will often double your money as high as up to $500, representing excellent value for first-time depositors.
If you’re lucky, you might stumble upon a casino that accepts deposits using cards such as Maestro and American Express. These are, however, in the minority, and you should assume that Visa and Mastercard are the standard choices at most casinos in Canada.
While you are never charged a fee to deposit money to any reputable online casinos, your credit card provider might charge you a small transaction fee. This is outside of the casino’s hands. There might also be a small discrepancy in the amounts seen on your casino account and the amount you receive in your bank account. This is because most casinos operate with the Euro currency, and the money is converted into Canadian Dollars at the time of the transaction.
E-wallets
Online wallets have become increasingly popular over the last few years. Commonly referred to as e-wallets, options such as MuchBetter and ecoPayz have found a significant market share among Canadian players.
In short, these e-wallets lets you move money around the Internet quickly. Either as transfers to private persons or as payments to web merchants and other sites that accept payments. Typically, you need to create an account directly with the e-wallet solution, giving you access to a web client and a mobile app where you can easily manage your finances.
The main reason for the rise in popularity of e-wallets at online casinos is that your withdrawal will be processed and arrive immediately. Withdrawals using bank solutions and credits are subject to waiting times of 1-3 business days, which might often be too long for players. If you win big on a Friday night and want to withdraw some money to enjoy the weekend, you still need to wait a few days into the following week before you receive your cash. With an e-wallet, you will receive the money within seconds of the casino approving it.
The mentioned e-wallets also offer pre-paid credit cards that can be used with y. So you could withdraw the money to your e-wallet and instantly spend the money at any merchant that accepts Mastercard, which should be just about every store worldwide. Likewise, you can withdraw money from any ATM that accepts Mastercard. These e-wallet form part of the small fintech revolution that is looking to improve on the not-always-so-efficient traditional banking system.