Payment Methods

Choosing the right payment method for deposits and withdrawals on casinos is important. We help you find the best payment methods for online casinos in Canada. Find the safest payment method and which payment options to choose for instant withdrawals and fast deposits.

Casino Payment Methods for Canadians

Payment typeBanking methodDeposit speedWithdrawal speedFees
Instant bankingInteracInstantInstantNone
Instant bankingiDebitInstantInstant$2 fee on transfer from bank to iDebit account
Instant bankingeCheckInstant1-7 daysNone
Instant bankingTrustlyInstantInstantNone
E-walletInstaDebitInstantUp to 10 days$1.95 CAD deposit fee
E-walletMuchBetter1-3 days3-5 days$1.50 CAD deposit fee
Pre-paid cardsPaysafecardInstantNot possibleNone
Credit cardsVISAInstant1-5 daysNone
Credit cardsMasterCardInstant1-5 daysNone
CryptocurrencyBitcoinInstantInstantNone

How to Choose a Casino Payment Method

Choosing what casino payment method to use comes down to what is most convenient for you as a player. Whether you prefer traditional banking methods such as bank wires or an online banking option such as instant banking or an e-wallet, Depending on the method you select, transaction fees may be included, as well as a different payout speed. At Canadian online casinos, there is a banking type for everyone, and we have made sure to include and try them all under one roof.

How we review withdrawal and deposit methods

Our team of experts’ goal is to try out every casino operator on the market today, where every aspect of the online casino is tested throughout. A big part of the customer journey is handled through online payments. Whatever option you choose, you can rest assured that the chosen payment and withdrawal method will be safe and secure to use. We especially look at security and ease of use, but we also consider if the casino has more than one deposit method and how the site handles the online casino account in general.

PAYMENT METHODS CHECKLIST

Instant Banking

When it comes to Canadian players, instant banking seems to be their preferred choice of payment method. This option allows players to connect their banking details with the operator through an intermediary party and transfer funds.

If you manage to spot any of these options available at your preferred online casino, you can be sure that the operator wanted to tailor some of the payment options to Canadians. Instant banking is one of few methods where the player is able to have fast withdrawals on casinos, making it a popular payment method in Canada.

To deposit using any of the instant banking options, all you have to do is head to the cashier section, choose your desired method, enter your banking details, enter the amount you want to deposit, and confirm the transaction.

Instant banking for casinos:

Pros & Cons with Instant Banking on casinos

  • Instant withdrawals
  • Fast deposits
  • Easy to keep track o your gambling budget
  • No bank details shared with the casino
  • Transaction fees may occur
  • Some bonuses are not accessible when depositing with e-wallets

E-Wallets

In recent years, e-wallets have become a go-to option for many Canadian players. The main reason why they are becoming more and more popular is that players don’t need to provide any of their banking details to make casino deposits. Another reason is the rise in popularity of fast payout casinos, collecting your winnings in seconds instead of days is one of it’s greatest features.

Once you pick an e-wallet that you want to use, you simply download their app or go to their site and create an account. You can top up your balance using your credit or debit cards or directly from your bank account and later use it at an online casino. After you fund your e-wallet balance, you can go straight to your preferred online gaming hub, find the cashier section, and choose the e-wallet option. Then, you enter the amount you want to deposit, and the funds from your bank transfer should transfer instantly.

There are multiple benefits of using e-wallets, including faster deposits, complete security (meaning none of your banking details are shared with the casino), and in most cases, instant withdrawals. Naturally, there may be some disadvantages when using e-wallets. For example, some of the e-wallets that you will come across will charge transaction fees, both for making a deposit and for processing withdrawals. Additionally, while most operators provide e-wallets as a payment method, some don’t allow players to claim promotions when using an e-wallet.

E-wallets for casinos:

Pros & Cons with using E-Wallets on casinos

  • Instant withdrawals
  • Fast deposits
  • Easy to keep track o your gambling budget
  • No bank details shared with the casino
  • Transaction fees may occur
  • Some bonuses are not accessible when depositing with e-wallets

Pre-Paid Cards

Pre-Paid cards are a great alternative for casino players that don’t want to use their personal credit or debit cards. Pre-Paid cards can be bought online and used to deposit money to an online casino site. You use a unique pin code every time you deposit money to the casino. Making this a safe and secure payment option as you are the only one that will know your pin code.

Using Pre-Paid cards is great for players that are on a budget and don’t want to spend more than a specific sum of money. While they are convenient for deposits, many casinos won’t accept withdrawals to prepaid cards. If you choose to use prepaid cards to deposit money to a casino make sure you have an alternative withdrawal option you are comfortable using.

Pre-Paid cards for casinos:

  • Paysafecard – The most popular online payment method for pre-paid cards.
  • Neosurf
  • AstroPay
  • Revolut

Pros & Cons with Pre-Paid Cards on casinos

  • No need to use credit cards on the casino
  • Great if you want to be within budget
  • You can control how much you spend better
  • No option to withdraw back to the pre-paid card

Credit Cards & Debit Cards

Not only in Canada but all around the world, credit and debit card payment methods are still one of the most popular options when making a deposit at online casinos. This trend will continue because most adults allowed to play on those sites possess a credit or debit card. As long as the option is available, they don’t need to turn to another service that they don’t already have.

But while these payment methods are easy to use, they do come with some setbacks. Depending on which bank you are using, you may have to pay a certain fee. Additionally, while deposits are available, many operators don’t allow players to withdraw their winnings using credit or debit cards.

However, for those that allow withdrawals through credit or debit cards, the withdrawal time can be a bit slow compared to some other options. All in all, credit/debit cards are super easy to use as well as a secure way to transfer your funds to or from your gaming account.

Note: Not all banks allow online gambling. Therefore, our recommendation is to use other online casino payment methods. We, however, do believe that this will change in the future with more regulations to come.

Credit and debit cards for casinos:

  • Visa
  • MasterCard
  • American Express

Pros & Cons with using Bank Cards on casinos

  • Availability
  • Highest security
  • Withdrawals are slower than most options
  • Not all banks allow gambling
  • Higher transaction fees

Cryptocurrency

The newest payment method that’s becoming more and more common on online casinos around the world including Canada, is cryptocurrencies. If you are looking for anonymity, high security or just want to use your cryptos to deposit money to a casino, you should be looking for crypto casinos or casinos that offer cryptocurrencies as payment options. There are not many obvious benefits of using cryptos instead of other payment methods when playing casino online, but most often the deposits are instant when using cryptos and the withdrawals can also be fast if your identity has been verified.

Common Cryptocurrencies on casinos:

  • Bitcoin
  • Ethereum
  • Tether
  • Litecoin
  • Dogecoin
  • Ripple

Pros and Cons with Cryptocurrencies in casinos

  • Anonymity
  • Fast deposits and withdrawals
  • Hard to find legit operators
  • Volatility of the currency
  • The need of a crypto wallet
  • Might come with high deposit/withdrawal fees

Banking Terms and Conditions

General T&C
Bonuses
Deposits and withdrawals

No matter which online casino you choose to play at, you will need to read the full terms and conditions page. All the extra information about the payment methods will be located on the page, and you can check out which methods are country-specific and whether the operator charges any fees for deposits and withdrawals.

Some operators won’t allow you to claim a bonus if you use a specific payment method. This will also be written on the terms and conditions page, and all the unavailable methods for claiming perks will be displayed.

You can discover whether all deposit methods can be used as withdrawal methods as well. Minimum and maximum deposit and withdrawal amounts will be displayed when used, showing you the limits that you can reach.

examples fast payouts canada

Conclusion about Casino Payment Methods

Once you finally get your account up and running, it is important to verify the account as quickly as possible. Most operators won’t bother you until you request a withdrawal, so to save some time, do it instantly.

Picking a payment method should be easy, and you should always choose one that you are comfortable using. If you want fast deposits and withdrawals, e-wallets and instant banking methods are the way to go. However, bank wire transfers are always available if you aren’t worried about speed.

At the moment, Canadian players are opting to use either credit/debit cards or instant banking methods such as Interac or iDebit. Both options are relatively fast and have a high level of security.

Payment Methods FAQ

Which payment method should I choose?

Our recommendation is choosing a method which is safe and reliable and fits your needs, meaning that it’s approved by authorities and comfortable to use. We hold fast banking methods higher than others simply because it’s faster and as reliable as using a credit card or bank wire transfer.

Which payment method is the fastest?

Instant banking and e-wallets are the fastest options when it comes to deposits and withdrawals. Remember that e-wallets can have some restrictions when it comes to collecting bonuses, something we always inform about on each casino review.

Do I need a credit card to play on casinos?

No, you don’t need a credit card to play at online casinos. Popular methods such as e-wallets, pre-paid cards and debit cards works just as good.

What happens if the money gets stuck?

If you encounter problems with your deposit or withdrawal, the support of the casino is at your disposal 24/7. If you use credit cards or bank wire as a payment method, don’t be surprised if the withdrawals take some days to show up at your bank.

How are winnings paid out?

Winnings are usually paid with the same payment method that you used to deposit money. If using a credit card you might have to choose another method for withdrawals.

FAQ
Emma Johnson
Emma Johnson - Author

Emma Johnson is the Product Owner of Casivo in Canada and is responsible for end-user experience and product development.