What are the best alternatives to Paypal at Canadian online casinos in 2020?

What are the best alternatives to Paypal at Canadian online casinos in 2020?

As you know not all Canadian online casinos allow PayPal deposits. There are very few online casinos and bookies that accepts PayPal as deposits. This is because of some legal issues with PayPal and gambling in certain jurisdictions. But that is not the case, that you wouldn’t be able to play slots or sports bookies in real time, as there are many alternatives to PayPal to fund your online casino and enjoy so many of casino games and do sports betting.

Here are the best alternative to Paypal at Canadian online casinos in 2020

Interac

Interac Casinos in Canada

Interac e-Transfer is a convenient way to send, request and receive money directly from one bank account to another. All you need is access to online or mobile banking through a participating financial institution, and you can send or request money to anyone with an email address or mobile phone number and a bank account in Canada  without sharing any personal financial information.

To get started with casino Interac deposits in Canada, simply determine the amount of money you want to transfer from your bank account.

Interac charges one flat rate for every e-Transfer. Whether you’re sending $5 or $500, you can make Interac transactions of varying amounts quickly at the online casinos that offer this payment mode. It’s usually about $1 or $1.50 per Interac e-Transfer, but the fee varies based on where you bank. Some banks even give you complimentary Interac e-Transfers with your bank account, so check with your financial institution first.

If you’re using an Interac e-Transfer to make a real time purchase at an online casino, all you have to do is log in to your bank’s online or net banking system, select the account from which you want to withdraw funds, and simply follow the instructions to complete the electronic transfer almost immediately to the online casino of your choice.

iDebit

iDebit Canada

Available at over 20 countries iDebit is most popular for Canadians as it is supported by most popular of Canadian banks.  This trusted form of online payment is directly linked to your online bank account. iDebit essentially facilitates, speeds up and secures the transactions between your bank account and the casino of your choice.  iDebit is known for being extremely quick, with payments being processed almost instantly. Another reason why the method is so popular is because of their very low transaction fees, they use a flat fee to avoid any confusion.

Withdrawing funds using iDebit is very similar to making a payment except you will need to create an iDebit account first. Withdrawals also have slightly higher transaction fees than deposits.

The following Canadian banks support iDebit

  • Bank of Montreal
  • Canadian Imperial Bank of Commerce
  • Desjardins
  • National Bank
  • Royal Bank of Canada
  • Scotiabank
  • Simplii Financial (formerly PCF)
  • TD Canada Trust

You can easily open your iDebit account by visiting the iDebit website. Thereafter, you can proceed to press the ‘Sign Up’ button and follow the step by step instructions in order to create your account.

Instadebit

Instadebit Canada

Instadebit is one of the popular deposit options available at online casinos specially for Canadian punters to play slots in real time. You can fund your casino account at once even when you play slots with mobile.  It is because Instadebit works with banks in Canada, allowing its users to conduct money transfers on the web in a secured and safe manner. It is the platform that allows Canadians to deposit and withdraw funds to their bank account quickly and easily, and the method does not impose high fees either.

INSTADEBIT is available to Canadian residents with a bank account at a Canadian financial institution. To use the service, you must be at least 18 years old and will need to provide your date of birth and the last 4 digits of your Social Insurance Number (SIN) in order to confirm your identity and protect your payments.

Also you need to provide  your bank transit number (5 digits), financial institution number (3 digits) and account number (up to 12 digits), which can all be found at the bottom of your personal cheques, or you can contact your bank to request this information when you open your account with Instadebit.

When you create an INSTADEBIT account, they will make a small deposit into your bank account. The deposit will be less than $2.00 and will appear in your bank account within 3-5 business days. You need to know the deposit amount in order to verify your bank account to increase your spending limit.

You are given a temporary transaction limit immediately after creating an account, and once you verify your bank account, you will receive a higher spending limit.

Much Better

Much Better payments at Canadian casinos

MuchBetter is an app-based payment wallet offering instant, safe and convenient payment services – a recognized payment processor in the online gaming industry. It allows you load your MuchBetter account directly from an app on your mobile device to make deposits to your Sports Interaction Account. You can fund your MuchBetter account using Visa, Mastercard, eTransfer or Bitcoin

The following payment methods are offered by MuchBetter. When depositing at casinos, you should initiate your payment from within casino’s deposit page.

  • Credit Card: 5% fee (no prepaid credit cards) instantly credits to your account
  • Interac eTransfer: Free but may take one hour to credit your account.
  • Bitcoin: Free, instantly credits to your account

MuchBetter protects it’s customer by verifying your identity during your membership. If prompted, you can upload any document requirements from within the app or by emailing their support.

Bitcoins

Bitcoins deposits

These days many of the online casinos also offer Bitcoin deposit and withdrawal option for the players, as the cryptocurrency is on rise and widely used in online transactions. To make a deposit with Bitcoin (BTC) first you need to obtain a Bitcoin wallet. As is BTC the wallet is also a virtual object and it could be lost if  not previously backed up. So choose the wallet which is reputed like online bitcoin wallet and is stored in the cloud servers hosted by third party. There are software wallets and these are being stored at your computer. You will need to back them up manually. Hardware wallets are available in a form of a USB device and also needs to be backed up manually.

Next after you have wallet you need to purchase Bitcoins from a reputable seller. As Bitcoin has no attachments to any bank of any kind and the currency circulated from peer to peer that is from user to user with appropriate BTC addresses.

When you register at an online casino that offer Bitcoin transactions then  you will obtain Bitcoin address or your own to use. The deposit to a casino account happens instantly only it needs to be confirmed by the block chain which might require sometime but only few minutes.

Same way you can withdraw with  Bitcoins. The cashing out process might take a bit longer than the deposit due to various checks and verifications the casino is obligated to perform manually and you are free to keep BTC in your e wallet.

Visa and Master card Credit cards

Credit Card Deposits in Canada

One of the safest and most reliable Canadian online casino payment options is the Visa and MasterCard credit card option. Using one of these credits cards at an online casino is the most reliable way of adding funds to your account and both Visa and MasterCard are known for their extremely high levels of security. The great thing about depositing with Visa or MasterCard is the speed in which the transactions are processed and also the high deposit limits that you are allowed. Depositing with Visa and MasterCard is really easy and this is why these credit cards have become a popular online payment method for so many Canadian players.

Also as Visa is used internationally and the VISA debit/ credit / pre-paid cards are very easy and fast to use and in many casinos you even don’t need to register an online account to use your visa. The minimum deposit you can make with credit cards is CA$25

Few things to consider when choosing an online banking method

  • Always check that the casino in which you opt to play offer many kinds of deposit options and not one or two deposit and withdrawals so that you have easy and convenient method to choose from.
  • Understand the cost of using any deposit and withdrawal mode so that you have hassle free banking transactions
  • Also find the reliability of the banking method including whether the banking method is provided by a reputable institution, and how easy the method is to use. 
  • The online casino must be using latest secure encryption technology and software so that all your banking transactions are safe and secure. 128-bit secure socket layer (SSL) digital encryption technology  ensures all transactions are encrypted completely and impossible to hack into. Some casinos deploy even higher grade security protocols.
  • All payouts need also be regularly audited by independent third party auditors to ensure fair play by the casino.
  • The casino should process your withdrawals on time
  • Last but not the least always read the terms and conditions associated with deposits and withdrawals and playing games as well as payouts.