By Norbert Fraught
April 16th, 2021
BURLINGTON, ON
The methods available for making deposits and withdrawals is undoubtedly one of the most integral parts of the iGaming industry. Keep reading to check the most popular payment methods in Canada.
Online gambling is an activity that is becoming more and more popular in the Canadian market over the past few years. One main reason for this is the increased level of convenience and easy access that online casinos and sports betting sites bring players, allowing them to engage in their favorite pastime from just about anywhere at any time.
Deposits and withdrawals methods are an essential aspect of online casinos that often influence players’ choice of where to play.
Of course, to play free slots no download, or just about any casino games for real money from the comfort of your own home, you will have to transfer money into your casino account. This is why deposits and withdrawals methods are an essential aspect of online casinos that often influence players’ choice of where to play. Thankfully, Canadian players have access to a plethora of payment methods that are fast, secure, and readily accessible for making deposits and withdrawals at online casinos.
In this article, we will be looking at some of the most popular payment methods that gambling enthusiasts use to make deposits and withdrawals at online casinos in Canada.
Interac
Commonly referred to as the national debit card for Canada, Interac is one of the most popular, safest, and reliable payment methods that Canadian players use to deposit and withdraw funds at online casinos. It is a Canada-exclusive interbank network that links participating Canadian banks and other financial institutions for the purpose of electronic funds transfer and transactions. Simply put, Interac is a payment service that allows Canadian players to fund their casino account directly from their bank or credit union accounts. In addition, this payment method provides an extra layer of protection for players online since there is no need to share sensitive financial information. Over the years, Interac has launched many branded services, and the two most popular ones you will find in most casinos include:
Interac e-transfer Service
Interac Online
Reasons for its Popularity
As we have mentioned before, the number of online casinos featuring the Interac payment method is on the rise, and it has become the first choice for millions of Canadians. However, this popularity doesn’t come solely because it is a local service but is based on several reasons. Below are some of these reasons:
Interac is available for both deposits and withdrawals. Many popular payment methods are usually only exclusively for deposits, and players would have to find another method when they want to withdraw. The flexibility of Interac makes it a neat and valuable method.
Depositing money with Interac into an online casino is instant. But, on the other hand, withdrawal through Interac is also fast and almost instant.
With Interac, you can use the Canadian dollar and don’t need a currency converter.
Interac is relatively safe and secure, which means that your financial information remains private.
Interac is not expensive. Depending on your bank and casino of choice, it may cost little to nothing to fund your casino account through Interac.
The way you remit and receive funds from your sporting activity is important.
Mastercard
Perhaps the most popular payment method for funding online casinos in Canada and the global market is the credit/debit cards payment method. And when it comes to credit/debit cards, Mastercard is one of the oldest and most reputable ones you will find online. When you go online to gamble, you will find that almost all online casinos accept deposits and withdrawals through Mastercard.
Reasons for its Popularity
Here are some of the reasons why Mastercard remains one of the most popular payment methods for players in Canada:
Mastercard allows high limits transactions, meaning that players can deposit or withdraw huge amounts of money at any time.
Due to its popularity, Mastercard is available at virtually every online casino that caters to Canadian players.
Mastercard provides top-rated safety measures such as fraud detection technology, secure code password protection, and others to keep players safe from intruders.
With Mastercard, deposits occur instantaneously, and though it may take a while depending on online casinos, withdrawals are also fast.
Mastercard ensures that their services are only available at licensed and legit online casinos.
VISA
With roots dating as far back as 1958, Visa is arguably the oldest, largest, and most used payment method in the digital world today. It is considered one of the most reliable and easy-to-use credit/debit card payment methods for making deposits and withdrawals at online casinos in Canada. Like the Mastercard method, almost every online casino worth its salt accepts Visa.
Reasons for its Popularity
Don’t make the mistake of assuming that Visa is only prevalent in the Canadian market because it happens to be one of the oldest forms of online payment method on the market. On the contrary, it is popular because it offers a wide range of benefits to its users.
Some of these benefits include:
Visa gives its users access to credit.
Visa provides deposit and withdrawal transactions with little to no fees from casinos.
Visa provides fast transactions for both deposits and withdrawals. Deposits are instant, while withdrawal may take some extra time.
As one of the most well-known payment methods globally, Visa is security conscious, and its services come with the best security measures, making transactions safe and secure for players.
Ecopayz
Ecopayz is a global payment solutions provider that offers instant, safe, and reliable payment services to Canada and the international market. Established in 2002, Ecopayz is one of the longest established e-wallets in the world. Like most e-wallets, ecoPayz acts as a gateway between your bank account and your online casino account, allowing you to fund your account without providing your financial information effortlessly. With two decades of experience in the financial industry, ecoPayz is an experienced player in the digital payment industry, offering its services to more than 155 countries and supporting more than 50 currencies. So naturally, many casinos in Canada support this payment method, and it is among the most popular options you will find in Canada’s online gambling market.
Reasons for its Popularity
Ecopayz has been providing payment services to casino players in Canada for many years now. Below are some of the reasons why it is very popular:
You can use ecoPayz for both deposits and withdrawal transactions, which is not the case for many banking methods.
Transactions at casinos using ecoPayz are quick and easy, with deposits occurring instantly and withdrawals being instant up to a few hours.
Using Ecopayz adds an extra layer of protection for players as their financial information is never shared when players pay online.
Ecopayz uses the latest security and fraud protection technology.
By using electronic operational and physical security measures, ecoPayz protects players against viruses, spyware, and attacks from hackers.
Paysafecard
Rounding up our list of popular casino payment methods in the Canadian market is the world’s most popular online prepaid payment method, Paysafecard. Paysafecard is a prepaid online payment method that provides shoppers and online casino players with 16-digit PIN code vouchers, which they can use to make payments online. Customers can buy these vouchers from local sales outlets that sell them. They come in these amounts in Canada: 10, 30, 50, 100, 150, 0r 250 CAD. Naturally, the card also works with online casinos, and you will find that tons of online casinos support this method as a means of processing payment transactions.
The best part about the Paysafecard payment method is that it is entirely independent of bank accounts and credit cards and does not require you to provide your personal information. The only downside is that you can only use the Paysafecard for making deposits and cannot use it to make withdrawals.
Reasons for its Popularity
Here are some of the reasons why Paysafecard is popular in the Canadian casino market:
The Paysafecard does not require players to provide any personal, bank, or credit card information.
The prepaid principle of the Paysafecard guarantees absolute security when you are making deposits online.
Depositing with Paysafecard is quick and easy.
Paysafecard does not give the means of overdrawing funds, thereby giving players some form of forced control over their spending.
Other notable mentions include:
MuchBetter
iDebit
Instadebit
Neosurf
American Express
