Deposit and Withdrawal is an important feature at the online casinos that Canadians should know about to have hassle free online banking transaction when playing real money slots or casino games. Almost all of the Canada friendly online casinos offer great deposit and withdrawal modes for Canadian players so that players have smooth and easy way to fund their casino account by playing slots either on iPhone or any cell phone or with PC or laptop.
These online banking modes are safe and secure as the casinos implement the latest encryption technology to protect player details and their financial transactions. Also the online casinos or apps integrate a wide range of payment options, which are trustworthy and convenient for Canadian players.
Deposit methods commonly found at Canadian friendly casinos
When it comes to payment methods there are variety of them to choose from at online casinos. Some of the common deposit modes available are Credit Cards, Debit Cards, bank transfers, prepaid cards, Mobile billing, web wallets and prepaid vouchers. You will find VISA/ Master card, Instant EFT, Astropay, Instant Banking, Ecopayz, Entropay, Idebit, Instadebit, Neteller, Payforit, Paypal, Paysafecard, Skrill, Web Money, Trustly and many others of such kind.
Credit/debit Cards – Canadian players find it most convenient to use credit cards to fund their accounts. Credit card holders just have to input card details such as CVC number, name of the account holder, card number, expiry date, and the amount they would like to deposit. Revealing all these details at online casinos is 100% safe as they implement the latest encryption technology, which makes them as safe as banks.
The funds will be instantly credited to their accounts. Winnings can be withdrawn back to the credit card; however, players should note that they can only withdraw an amount equal to the amount deposited using a credit card.
Instant Bank Transfer – Instant Bank Transfer is a safe and secure casino banking method that allows players to transfer funds directly from their bank accounts to their casino gaming accounts. Winnings can be withdrawn back to the bank account safely and securely. A Canada friendly instant bank transfer method is Instadebit.
To use Instadebit, Canadians have to sign up for its services, but do not have to load their Instadebit accounts. The procedure is similar to writing checks. The funds are instantly credited to players’ casino accounts although they are debited from their bank accounts in around two to five business days. Instadebit is 100% safe and anonymous as players do not have to reveal their banking details.
Wire Transfer – This method allows players to move funds easily, safely, and securely from one account to the other. There are several types of wire transfer. For example, using one’s debit card to transfer funds from one’s bank account to one’s casino account can also be considered as a form of wire transfer. Many Canadian players prefer using wire transfer as they are not required to reveal any personal financial information. The only drawback is that wire transfers are not instantaneous and come with a fee.
Electronic Wallets – Popularly known as eWallets, they allow players to fund casino accounts safely, securely, and instantaneously. Players just need to sign up an account with the eWallet service and load it in order to start using it to deposit casino funds and withdraw winnings. Some of the most popular eWallets are Click2Pay, Skrill, and Neteller. For example, players who want to use Neteller must first sign up at Neteller and load their Neteller accounts. They can then easily transfer these funds to their casino accounts. Winnings can be transferred back to the Neteller account. Funds from one’s Neteller account can be withdrawn using a wide range of methods, including a Neteller debit card that can be used to withdraw funds at any ATM accepting MasterCard.
Prepaid Cards – This is another popular method in Canadian online casinos. Using a prepaid card gives players more control over their wagering activities as they can only use the funds loaded on their cards. Some of the most commonly used prepaid cards in Canada is PaySafeCard.
Many online casinos have also started accepting Bitcoins as deposit method and you can easily make a deposit with BTC cryptocurrency.
Withdraw methods commonly found at Canadian friendly casinos
Almost all the casinos use cheque as the withdraw mode to get back your winnings as well as use the same mode of withdrawal as your deposit method. Though online casinos always wish to process your winning fast still you may have to wait anywhere in the range of one to 21 business days depending on the withdrawal method selected. While eWallet withdrawals are instant, wire transfers may take up to five working days and courier checks may take up to 21 days to arrive at your casino account.
Note that online casinos where you are about to get your winning payout for the first time, you have to verify yourself and your identity by submitting the relevant identity proof. This is an essential procedure to make the casino banking system very secure. The casino will need :
- Copy of Driver’s License
- Copy of a utility bill (Water, gas, telephone etc.).
- Copy of your Credit Card (back and front) if you made deposits using your Credit Card.
If you are apprehensive about revealing your card details at online casinos then you can bank anonymously without revealing your credit card details. You can choose to deposit funds and withdraw winnings using methods such as prepaid cards and eWallets.
Also online casinos allow you to withdraw your winnings anytime you wish. However, a cap may be imposed on the amount that can be withdrawn per business day or per week. If players win a progressive jackpot, it will be paid out in installments. As said above winnings are paid through the same method used to deposit funds. In cases where this is not possible, players can choose a withdrawal method from the casino cashier.
Also remember at some online casinos you can deposit funds in Canadian currency, but casinos may convert these into Euros or US Dollars according to the latest exchange rates.
How to make a deposit at the online casino
You can make a deposit at the online casino with any of your gaming platform, whether you play with your cell phone or PC things remain same.
- Click or Tap on the cashier at banking page once you login at the casino you wish to play.
- Banking page will be listed giving you so many options to choose from as payment method
- Select the one you are comfortable with
- Enter the amount in CAD or the currency that casino accepts.
- Follow the process or steps as they pop up on your screen
- Your online casino will be funded and the amount will be displayed on your account page.
- Now grab the bonus if applicable to your account Note that deposit bonuses have wagering requirements to meet so better ask the casino customer support team in case of any doubt before making a deposit.
- Go to games lobby, select the slot game and tap to play.
How to get make a withdraw at the online casino
After each session you play, your money will remain in your account for the next time you want to play. The only time you will need to make a withdrawal is when you would like to get your money.
- In the casino software, click on Bank and select Withdrawal
- You will be asked to select your preferred option to receive your payment
- Your withdrawal request will then enter a pending period (minimum 24 hours), during which time you will be able to reverse your withdrawal, should you wish to do so
- Your withdrawal will be processed on the day in which it is released from the pending period
- For security reasons, you may be required to provide the following information, in order to verify your withdrawal:
- Copy of Driver’s License, Copy of a utility bill (Water, gas, telephone etc.), Copy of your Credit Card (back and front) if you made deposits using your Credit Card.
- Also there may be a cancellation cost incurred for certain withdrawal methods. So always read the terms and conditions when selecting a withdrawal method.
- The portion of your withdrawal less than or equal to the original deposit amount will be paid to you through the payment option that was used to make the original deposit
- Any other money owed to you can be withdrawn whenever you wish.
When using certain web wallets to withdraw, for example eCheck, there is an eight day waiting period. As a result, the casino will not be able to process a withdrawal within eight days of your last deposit when using these web wallets
Due to restrictions in some countries also many casinos may not be able to pay your withdrawal through Visa or MasterCard.
Withdrawals are paid as soon as possible. However, your bank’s processing times may slow down the payment of withdrawals. Withdrawals may be subject to processing fees at the discretion of the casino.
Remember deposits and withdrawals at online casino of repute are safe and secure. Always play on registered and licensed online casino with your cell phone or web browser as these sites are equipped with latest SSL encryption software to keep your transactions safe and sound.