Top 5 Payment Methods in Canadian Online Casinos
If you are currently trying to choose which online casino in Canada to play in, the one thing you might want to look at are the payment methods. Withdrawal times, fees, and the overall security of the transaction are some of the things that depend on your payment method of choice.
The best payment methods in Canadian online casinos for an individual are determined on what it is that they usually use. Whether you want to pay using different types of checks or good old credit cards, here are the five most popular options that you have.
Top five payment methods in Canadian online casinos
We’d like to begin by saying that the following entries aren’t ranked in any specific order. Likewise, we can’t say that one payment method is inherently better than the other. This depends solely on your needs, as you might already be used to one of the following payment methods.
1. Cryptocurrency
Crypto has taken over the world, and you best believe that it has conquered the online casino market in Canada. Most casinos have realized the potential of using different cryptocurrencies, as you can make fast transactions that are completely secure. Likewise, with so many cryptocurrencies available today, many of which are rising in potential, casinos that do integrate this payment method into their business model stand to appeal to a wide and international audience.
However, we do have to say that figuring out the mechanism behind crypto payments could be difficult for beginners. If you are still an inexperienced crypto enthusiast, then perhaps you should first rely on one of the other popular payment methods in online casinos in Canada.
2. Digital wallets
Like real wallets, e-wallets also store your money. However, their primary function is to act as a gateway between your bank and the online casino that you choose. By using one of the many e-wallets available today, you can add money to your casino account without providing bank account details to the casino’s website, making this transaction safe and secure.
As for which digital wallet you should choose, we’ll leave it up to you to decide. Perhaps it’s best to do your own online research and find out which casinos accept PayPal, Google Pay, or Apple Pay. With so many Apple Pay casinos in Canada, making quick transactions with low fees through your Apple product of choice should be easy.
3. Credit cards/debit cards
Nothing like the good old payments made with your credit or debit card, right? Even though the world seems to be developing in the direction of e-wallets and cryptocurrency, many people still prefer to rely on their cards to make transactions. Visa, MasterCard, American Express, and other household names are still widely accepted payment methods in Canadian online casinos.
They are still in use because they make it easy to withdraw and deposit funds to your online casino account. You simply have to input your card information, choose how much you want to deposit (or withdraw) and finish the transaction. There aren’t any significant fees for both deposits and withdrawals, although most online casinos will impose limitations on how much you can deposit or withdraw in a single day.
A word of caution, though – you do stand a chance of your bank rejecting the transaction because of the purpose. Some banks could have strict rules when it comes to gambling-related activities, even though gambling and online casinos are completely legal in Canada. That’s why it might be good to keep one of the other payment methods in Canadian online casinos as a backup.
4. Wire transfer
Are you an old-fashioned kind of gambler? Then we are sure you were wondering whether the good old wire transfer would make an appearance on this list. You can rejoice now that you know it does. If you have a good and quick communication with your bank, which certainly makes your life easier, then you can opt for a simple wire transfer. However, before you take any other moves, you first need to ensure that the casino in question accepts direct payments.
If it does, then you collect a casino’s bank wire details which are usually provided on their website under the banking section, and then you contact your bank, giving them the wire details. Once you arrange a transfer, you can just sit back, wait for the money to hit your account, and start gambling with the hopes of embarking on a lucky streak.
5. eChecks
Also known as electronic checks, eChecks eliminate the hassle that comes with paper checks. For starters, you don’t have to go to your bank to deposit a check, which is already a great benefit. All you have to do is select eChecks as your preferred payment method, after which you should provide some personal and financial pieces of information – such as your bank account number. eChecks are available for both deposits and withdrawals.
However, we do have to mention that eChecks have one small fault – they take longer to be processed when compared to other methods of payment Canada’s online casinos accept. Usually, the complete processing time can take anywhere between five and eight days, which is a lot for someone who can’t wait to start kicking it back while gambling and having fun.
You can use multiple payment methods when gambling in Canada’s online casinos
Keep in mind that you aren’t limited to just one of the payment options. You can use your credit card to gamble in one casino and opt for digital wallets in the next one. And you could be doing all of that while learning more about crypto before making it your main payment option.
The good news is that there are so many different payment methods in Canadian online casinos to choose from that you can mix and match as you see fit. Our suggestion? Why not give all of them a go and see which one has the lowest fees and the quickest processing time? Those are the parameters to take into consideration.
