Best Live Casino Deposit/Withdrawal Methods for Canada
Banking is a decisive factor when choosing where to play. Oftentimes, we will walk away from a live casino lobby with really great games simply because it does not have a suitable withdrawal method. Or, we may think that there is only one way to deposit and stick with it while overlooking newer, faster, and safer solutions.
The task becomes particularly challenging for Canadian players when selecting among international lobbies. Not all of them have a full range of payment methods that are often available on Canada-based websites. So, one needs to maneuver, weigh in on the options, and consider fees and cashout speed.
Another challenge is checking to see whether a preferred deposit method is available but forgetting to find out whether one will be able to withdraw easily.
Based on these and other concerns, we came up with a roadmap for the most convenient payment methods for Canadian players looking for live dealer casinos. Each payment method comes with an assortment of recommended lobbies so hopefully, you will find the perfect place to pay and play.
This one is oftentimes the decisive factor for numerous Canadian gamblers. Cashing out from a casino is always a process. You need to register a request and wait for the team to look into it. You may need to reserve some time for the KYC. This is why when you also find out that you need to wait some more, only this time for your bank’s approval, this may become annoying.
Different payment methods have different speeds. E-wallets are the fastest solution, especially if you then decide to spend money online. Cards and banks take longer but are the only reasonable option for high rollers. Therefore, we are taking a closer look at all of the methods in order to give you the full picture.
One of the 3 important factors to remember is that different payment methods come with different charges. Sometimes, it is not the first thing that comes to mind. Or, one banking method seems a bit more budget-friendly than the other one, and then the overlooked fees start to pile up.
This is the case with all the e-wallets. When it comes to payments between your e-wallet and a casino, both deposits and withdrawals are free. On the other hand, you will still need to pay a commission when loading the e-wallet with cash or will face a fixed fee when withdrawing from an e-wallet to a bank account. Of course, none of this is important if you are planning to spend you winnings online. Therefore, based on the preferences, we are offering various payment solutions.
On its own, each method can be very convenient. However, in online gambling, the common practice is to choose the type of payment that works both for deposits and withdrawals. This is where inconveniences start.
Let’s say you decided to use Visa. You deposited with it, played for real money, won some cash, and would like to withdraw, also with Visa. You head to the cashier only to realize that the chosen operator does not support payouts to this particular card. And offers you a bank transfer instead, which may not always be a preferred solution. This is why we are taking a closer look at every possible payment method, dissecting its services so that you can choose the best way to pay and play.
Credit/debit cards for Canada-friendly online gambling
Cards are the solution that will be available in 99.9% of Canada-friendly online lobbies. While some other countries of the Commonwealth, namely the United Kingdom are pulling cards from casinos, Visa and MasterCard deposits and withdrawals will not be blocked for Canadians.
The most common concern for players is the safety factor. How good of an idea is it to expose sensitive card information online?
To this, we say that all of the websites recommended in our database practice secure financial transactions and encrypted payments. The list of benefits also includes the fact that any of the well-established, certified, and reputable online operators will have this option available. Plus, cards usually support both deposits and withdrawals.
Of course, quality services come at a cost. There will most likely be both deposit and withdrawal fees charged by your bank. Plus, keep in mind that cashouts to cards may take up to 3 workdays. If you are looking for a faster-paying solution, turn to e-wallets and crypto-wallets instead.
Top e-wallets for Canada-friendly casinos
E-wallets are the ultimate payment solution for Canadian online gamblers. Luckily, the market now offers not only general e-wallets but also the ones developed specifically for online gambling. We would strongly recommend using these because their managing companies also roll out lots of unique promotions.
The thing is, many online casinos choose not to qualify players that deposit via e-wallets for welcome and ongoing promotions. The main argument is the high risks for casinos. On the other hand, e-wallets that were created specifically for online gambling will most likely qualify for bonuses, as well as will have the best fee-related deals.
Speaking of fees, in 99.9% of the cases there will be none applied to deposits, and many online operators also process cashouts with low or no additional service charges. As for the downsides of this payment method, figuring out how to top the e-wallet and to withdraw from it are among the things leading to extra expenses. For many players, these factors are less important than the fact that barely any other solution processes casino withdrawals as quickly as e-wallets.
Tailored as a mobile-based payment solution specifically for online gamblers, MuchBetter is indeed much more preferable than many other e-wallets. It is compatible with cards, bank transfers, prepaid vouchers, and crypto when it comes to loading accounts and withdrawing from them. It is spiced up with multiple unique promotions, supports CAD, and is available in more and more Canada-friendly places to bet and win.
Jeton is not only the global e-wallet but also a money transfer and exchange service, and all of this is available within a free account. It comes with a prepaid card, as well as convenient apps for iOS and Android. Rapid and secure processing of payments is among the factors that make it a perfect casino payment method.
Digital currencies became an option circa the early 2010s, and back then, they caused a lot of questions and concerns among the online gambling community. How safe is this currency? Is it worth using considering how unstable and volatile it is? If it is decentralized cash, will it be regarded as unlawful and therefore lead to penalties?
Today, there are barely any questions left as to whether it is worth gambling in crypto. Thousands of Canadians choose to do so regularly and find this to be a great alternative to banks and cards. It is safer and faster. Plus, with a variety of digital currencies, including Bitcoin, Litecoin, Ethereum, Dogecoin, Tether, and others, it is also not a problem to pick a fast-paying network or to buy/exchange fiat to cryptocurrency online.
What is more, plenty of the classic non-crypto e-wallets are not adding an option to exchange cash within the personal account. MuchBetter, which is available to Canadians, was initially tailored as an e-wallet for fiat currencies, but it also allows to buy and store crypto, all within one account.
While e-wallets will usually require you to set up an account and to top it with cash, and prepaid vouchers will only be valid for a certain period of time and tied to a certain amount, there are also alternatives. The so-called payment solutions and gateways that will safely and conveniently connect your bank account with a casino account are among them.
In Canada, most of the leading banks are committed to participating in such payment networks which means that an account you already have with either of your banks is probably also eligible to be used to gamble online via either of such networks.
High safety and instant deposits are among the highlights of this way of paying. The list of downsides includes higher fees than for e-wallets or prepaid vouchers as you will need to pay for the bank transfer services. Plus, with cashouts, you might need to wait for up to 6 days.
A hybrid of a gateway and an e-wallet, InstaDebit gives its users two options. One is to register, add an online banking account, and pay with it online. The second one is an option to use InstaDebit’s online balance – load it with cash, pay from the virtual account, and withdraw to it. Depending on the long-term goals, both ways will work just fine except if the long-term goal includes casino withdrawals. If that is the case, you will need to invest some time registering and verifying the virtual balance.
Similar to InstaDebit, iDebit will give guest mode and registered user options. In guest mode, you will be able to use iDebit as a gateway. This will work just fine for deposits but you won’t be able to cash out wins. Creating an account allows for more flexibility, as well as for an option to claim wins. One major difference between InstaDebit and iDebit is that the latter works with a significantly smaller number of banks in Canada.
An absolute favorite among Canada-based customers, Interac is a national payment network supported by 200+ banks. It was established in 1984, and since then, successfully diversifies its list of products. Tie an Interac Debit card to your ApplePay or GooglePay and instantly deposit from mobile phones. Initiate direct payments from your bank account via Interac Online, or require withdrawals via Interac e-Transfers.
Prepaid vouchers for gambling in Canada
Prepaid vouchers are preferred by hundreds of Canadian gamblers when it comes to depositing quickly, safely, and with no extra fees.
There are plenty of brands available and the idea is the same for all of them. While depositing, you will request a unique barcode that you will later have to pay to via offline cash or online by cards. Alternatively, you may already have a prepaid card or a single-use voucher ready and all you will need to do is enter the digits from the voucher in the cashier.
Prepaid vouchers usually start from denominations of 10 CAD and may reach up to 500 CAD. In most cases, if you prefer to deposit more than 500 CAD, you will be able to use several vouchers at once.
Using this payment method will always spare you any extra fees, unavoidable when paying by cards or bank transfers. The list of downsides includes the fact that the vouchers are usually valid for 14 days or so and they are not to be used for cashouts. This means that prior to registering, you will need to ask the help desk representatives at the chosen casino for the list of withdrawal methods that they are offering.
Backed up by Visa and MasterCard, Vanilla Prepaid is a rechargeable plastic card available in lots of offline retail stores and kiosks. Buy it once, register an online account, and top it up as often as you wish. Monitor your transactions and enjoy 100s of live dealer casinos friendly to this banking method.
Frequently Asked Questions
Yes, absolutely. One of the most popular methods is Interac Online, broadly available across some of the most reputable places to bet and win, including Leo Vegas Casino.
Deposit as little as 10 CAD at the lobby of 888 Casino and proceed to choose among 100s of live games from the industry’s top content suppliers.
Payments from Interac are listed among some of the most reliable. This banking solution is a network maintained by 200+ Canadian banks with all the safety protocols in place. Casoo Casino is one of many websites available to Canadians that supports Interac deposits and withdrawals.
The first two sources to check are our reviews where we analyze the experience of registered players, as well as the popular gambling forums. As a rule of thumb, we would also strongly advise against registering at non-licensed online lobbies as these tend to provide questionable services.
Most of the online operators in our database that support gambling in digital cash will have a license from the jurisdiction of Curacao. None of the MGA-compliant places to bet and win currently have digital cash among their services. Also, the list of software development studios may differ but not dramatically. Regardless of whether you choose a website with crypto or fiat money, you will still be able to select among welcome and ongoing bonuses, live games, and non-live content.
What is the KYC procedure and why do some websites insist on it while others don’t even mention it?
The stronger the license that the online operator has – the higher the requirements and standards that it has to keep up with. KYC is a procedure that many businesses not only in the gambling industry but banks, too, have to implement to maintain fair business practices. If a casino has KYC, it will require you to submit a copy of your ID and a card, as well as proof of address to clear you for payouts.
Yes, this payment method is broadly available in many popular lobbies, including Playamo Casino.