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Payment Methods

There are many great online casinos that offer their services in Canada. However, to play games with real money, you first need to make a deposit usingThere are many great online casinos that offer their services in Canada. However, to play games with real money, you first need to make a deposit using one of the payment methods accepted by the casino of your choice. You’ll also have to use it when you want to cash out your winnings. In this article, we’ll explore all you need to know about making deposits and withdrawals on online gambling sites in the Great White North.

What deposit options are available for Canadians ?

There are a far bigger range of deposit options at online casinos than those listed below, but here we have come up with the a handful of the ones you are most likely to find.

prepaid cards

These are the type of cards that allow you to make online payments and avoid the use of your bank account. Perhaps one of the most popular types of pre-paid cards is Paysafecard.

e-wallets

Services that let you store your money online and use them for sending and receiving payments, as well as making purchases, are called e-wallets. PayPal is an example of this.

credit and debit cards

Visa and Mastercard are the two most popular variations. Still, they are definitely not alone, as there are several other options available to Canadian players, such as AmEx.

Using the wire transfer feature is widely regarded as the most secure, yet it’s very slow and could be very expensive. This option isn’t available in many Canadian online casinos.

cryptocurrency

Using digital money, such as Bitcoin, Litecoin, Ethereum, Bitcoin Cash, and more, is becoming increasingly popular, and casinos see it as the next big thing in the industry.

instant banking

Instant banking is a popular option, but it’s still not as big as some other methods, such as e-wallets and credit cards. Still, it’s much faster than wire transfer.

Two important concepts

  • Verification + KYC: banks and other payment processors, as well as online casinos themselves, often need to comply with various KYC and AML procedures. This means you’ll have to verify your account and sometimes even provide additional documents upon request to be able to make deposits and withdrawals.
  • Processing times: online casinos need time to process your withdrawal request, and that’s why withdrawals cannot be instant. On average, players have to wait between 12 and 48 hours, but some casinos need even more time than that.

What payment methods types are accepted at casinos in Canada?

Canada is one of the countries that has the biggest selection of online payment methods, and online casinos are not an exception. Let’s take a look at some of the most popular options for making deposits and withdrawals.

Visa

One of the two most popular cards, Visa is perhaps the most popular online payment method around the globe. It has been around for decades and is used by many Canadians.

MasterCard

Mastercard is also a credit card, and it’s the biggest competitor to Visa. Both work in the same way and make online payments possible. They are also frequently accepted in online casinos.

PayPal

This is the most popular e-wallet in the world. PayPal is fast, secure, and used in many countries worldwide for sending & receiving money and making online purchases.

Neteller

Similar to PayPal, Neteller is a transfer service that allows you to transfer your money to merchants, and many online casinos accept it as a valid payment option.

Skrill

Skrill is a digital wallet established in 2001, and it’s usually considered very similar to Neteller in terms of the services it offers. It’s also part of Paysafe Group, like Neteller.

Interac

Interac is a Canadian payment method that is basically an interbank network that facilitates the exchange of electronic financial transactions. It’s a payment option in many online casinos.

Read more about paying by credit card

How safe are deposit methods?

It’s safe to say that the safety levels of all payment methods featured in Canadian online casinos are quite high. After all, casinos nor players could afford to feature methods that aren’t safe.

Still, some methods are more secure than others, and it’s up to you to find the one you like the most and make sure that your transactions won’t get compromised in any way. All methods listed in this article have state-of-the-art security protocols, so you won’t have to worry about your money being stolen.

You should also do your part to make transactions secure. Don’t give away sensitive info, and always use additional verification methods.

How long does it take to deposit and withdraw?

Deposits are usually faster than withdrawals. The good news is that the majority of payment options are instant, meaning you’ll be able to see your funds in your casino account in a matter of seconds. The fastest methods are definitely cards and e-wallets, and they are followed by prepaid cards and instant banking options.

Cryptocurrencies are also pretty fast, but some of them might take up to an hour before they are processed. Finally, there are some banking methods that are slower than all other options, but they are not often accepted by online casinos in Canada.

Withdrawals are slower, as they usually need to be checked. Some options might take up to 10 days, while others are instant. Casinos also need to check your withdrawal request.

Depositing and withdrawing money

The steps for depositing and withdrawing money are simple and pretty much the same across all casinos  – this leaves little room for confusion or error. Below we make your life easier by highlighting the steps.

How do I deposit my money?

To make a deposit, please follow the guide below:

  1. Select an online casino of your choice and open it in a new tab.
  2. Register or log in (if you already have an account).
  3. Find the Cashier section, which is usually located in the main menu.
  4. Select the deposit option.
  5. Pick one of the available payment methods that you want to use to make a payment.
  6. Enter the amount you’d like to deposit.
  7. Follow the instructions to connect your payment method.
  8. Make a deposit and wait for it to become available in your casino balance.

How do I withdraw my money?

Withdrawals are similar to deposits. As a matter of fact, they are even simpler, so let’s check out how a standard withdrawal process looks like.

  1. Open the casino and log in to your account.
  2. Go to the cashier section and select the withdrawal option.
  3. Enter the amount you’d like to cash out.
  4. Pick one of the available withdrawal methods.
  5. If it’s not already connected, follow the steps to connect it.
  6. Confirm your withdrawal & wait for the casino to process it.

Please pay attention to the minimum and maximum cashout limits and potential withdrawal fees, as some online casinos charge them.

Your questions answered
Are there any fees for Canadian payment methods?
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Can my money be stolen if I make a casino deposit?
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Which is the best payment option for me?
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Can I use Bitcoin to play online casino games in Canada?
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Can I use the same method for deposits and withdrawals?
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