7 Most Popular Methods for Deposits and Withdrawals in Canadian Casinos
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Every real-money online casino needs deposits and withdrawals. Also, you need payment options to take home huge wins. If you are a Canadian gambler, it is vital to know what these methods are. More so, the popular ones are often the better options when it comes to payment options. So what are these options?
In this extensive guide, we cover the popular Canadian casino payment methods and what makes them stand out. Keep reading to glimpse the best payment options for a Canadian gambler.
Neosurf
Neosurf is a payment option that transcends borders. Hence, it is regular payment option for both newbies and regular gamblers. Funding your account with a Neosurf card ensures safety and seamless casino online adventure. Neosurf does not require any personal or financial informations.
This payment option doesn’t require you to reveal your financial information. This reason adds an extra layer of security and trust to the payment option. Here are the perks and drawbacks of using Neosurf:
Pros:
- Casinos don’t have access to your financial information
- You can only transact between up to $100
- There is no need to register
Cons:
- No withdrawal feature is available
- Limited numbers of currency available
Credit and Debit Cards
Almost every Canadian casino supports card payments. Since the option is widespread, available, and easy to use, many gamblers choose it.
When you log on to a new casino, you can be confident that it has the card payment option. The popular credit and debit cards are Visa and Mastercard. The 10 Alberta casinos have credit and debit cards on their list. The Alberta casinos are licensed with multiple payment options using modern encryption.
With that in mind, here are the hits and misses of using card payments:
Pros:
- Widely accepted
- Easy to use
- Safe and secured transactions
Cons:
- Requires financial details for transactions
- Longer withdrawal processing times
E-wallets
E-wallet is a new payment option that has become popular. Many Canadian online casinos include e-wallets as acceptable methods to seem more inclusive. Gamblers can deposit and withdraw with e-wallets like PayPal. Plus, you get speedy transactions.
These digital wallets serve as the middleman between banks and casino accounts. Hence, e-wallets are more secure. When you make transactions through e-wallets, you don’t reveal your bank information. That aside, here are the hits and misses of using e-wallets for casino transactions:
Pros:
- Swift transaction speeds
- Safe and secure
- Accessible and convenient
Cons:
- Low withdrawal limits
- Not universally accepted
Bank Transfers
Direct bank transfers are made from your bank account to the online casinos. This payment mechanism does away with intermediaries such as e-wallets. It also minimizes the risk of fraud.
In a broader sense, bank transfers are also more appropriate for large transactions. Thus, their deposit and withdrawal limits are more significant. High rollers can use it. The bank weaknessorm’s main weakness is that it is much slower than other payment forms.
Pros:
- Eliminates the need for third-party
- Suitable for large deposits and withdrawals (some Canadian online casinos don’t even have limits for bank transfers)
- It is convenient as you only need your bank account
Cons:
- It has a much longer process than other methods
- Bank transfers incur fees on transactions
Prepaid Card
Prepaid cards work just like gift cards. You get the prepaid card like you would with a gift card. You buy the equivalent of the amount you want to deposit. If you want to cut your gambling spending and also don’t want to reveal your financial information, this method is an excellent way to go.
Canadian players can get prepaid cards online or at retail stores. Popular examples include ecoPayz and Paysafecard. However, other payment options like PayPal and Visa offer prepaid card options. Here are the benefits and drawbacks of using a prepaid card:
Pros:
- Great for responsible gambling as you can’t spend more than it is on their cards.
- You can buy a prepaid card anonymously
- Casinos don’t have access to any of your banking information
Cons:
- You can’t process withdrawals with prepaid cards
- You can pay for the prepaid card before processing withdrawals and deposits
Pay by Phone Bill
Many Canadians fund their casino account using phone bills. When gamblers pay with phone bills, they add their charges to their next phone bill. This method is especially useful when you are low on funds and want to play real-money casino games.
Pros:
Swift and convenient
- Safe and secure since you don’t reveal your bank information
- You can delay payment till you are ready
Cons:
- Withdrawals arent avaliable for the phone bill option
- It has lower deposit limits than other payment options on our list
Other Notable Mentions
While we have talked on Visa, Mastercard, and other well-known payment options, there are still other payment options that are widely accepted. Although they didn’t make it to our list, here are some notable mentions:
- Crypto-friendly option such as Bitcoin
- Apple Pay and other mobile-friendly payment platforms
Conclusion
Now that you have an idea of the popular payment options; what option do you prefer? As a Canadian gambler, review each payment option and choose the one that best suits your needs. But not that not all casinos have these payment options. Before you sign up, please verify the payment options your casino offers. This would save you time and effort. May the odds be in your favor!
