Best Casino Banking and Payment Options in Canada 2020

Variety is the spice of life. It’s what makes the modern casino market so great, and we’re not just talking about the amazing game software, choice of apps or web design variety – although those are, of course, marvellous additions to the gaming world. Indeed this variety also extends to the online casino payment methods in Canada themselves.

While these might not catch the eye initially like our other examples, there are few things more important to your enjoyment of a betting site than having your preferred payment option. In some instances, it could even make it impossible to properly utilise an operator’s site. With this in mind, here at GamblingGuy, we’re going to be taking a look at the very best online casino payment methods in Canada.

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Most Popular Payment Methods: Online Casino Payment Methods in Canada

There’s no shortage of choices for betting sites, from Bet365, Betway and Bodog to Spin Palace and Sports Interaction. This is also true for payment methods for Canadian users, with many being household names and many others which fill in all the gaps for all the more niche payment needs out there. Here’s a few of the most popular Canadian online casino payment methods for you to choose from:

Credit cards

It should be no surprise to learn that credit cards are the most popular payment option in Canada, as indeed they are in much of the modern world. Plenty of credit card options are out there in the casino works, including Visa, Mastercard, Maestro, American Express and many more. This will be an option in the vast majority of online casinos.

Neosurf

This is a prepaid payment method, which involves you buying cards either online or through local retailers. Prepaid cards are often popular due to their security advantages. Other prepaid that are popular among Canadian casino payment methods include Mint and Ticket Premium.

Interac

This Canadian interbank system is a lot more versatile than you might think. It allows for e-transfers and online purchases, alongside mobile integration.

PayPal

Alongside credit cards, PayPal is probably the payment method you’re most likely to see the most of in your casino banking options. If you’ve bought something online and paid through an e-wallet, then there’s a good chance it was with PayPal. Not only is this option secure, but its international appeal makes it one of the most versatile online casino payment methods in Canada and beyond.

Bitcoin

This is an especially useful option for Canadian users who want to check out sites across the globe and do so in a secure, anonymous way. It’s the world’s most famous and successful cryptocurrency by a long shot, with many sites catering specifically to its users. Other cryptocurrencies are available, but none can touch Bitcoin’s popularity.

Neteller

Designed to work with online casinos, Neteller operates like an e-wallet and is as easy to set up as it is to use. On top of that, it’s safe, secure and even anonymous due to the fact it doesn’t actually store any of your personal details. They even offer rewards to loyal customers from time to time.

QIWI

As easy as it gets, QIWI is a multi-platform payment system that can be used across devices for almost any kind of interaction.

Skrill

One of the most popular e-wallets around, Skrill works in pretty much the same way as Neteller and PayPal, and holds very similar advantages.

Paysafecard

This is another prepaid card method here and one that has found popularity both in Canada and worldwide. It’s also very common to find these days on casino sites and, alongside some other prepaid examples, sets itself apart by allowing people to buy the card in store and use it online without the need to input any personal details.

Entropay

This is a virtual credit card which operates in a similar way as PayPal. It is ideal for instant payments.

Instadebit

Great for deposit and withdrawals, Instadebit is hugely popular across North America. It allows you to transfer money directly from your bank account and back again, creating a simple solution for all your casino banking needs.

Do keep in mind that there are plenty of other online casino payment methods in Canada. However, this shortlist should highlight some of the most popular and give you some idea of the scope of variety that is out there.

Average Time for Deposits and Payouts: Online Casino Payment Methods in Canada

Before we go into general processing times for online casino payment methods in Canada, keep in mind that there are several factors which may affect how fast it takes to deposit and receive funds. However, this should work as a general guide.

Credit cards: Deposits should be instant, while withdrawals generally take 1-2 banking days.

Neosurf: Although instant deposits are a big part of Neosurf’s appeal, withdrawals will usually take between 3-5 working days.

Interac: Keep in mind that Interac has a few different options. Interac e-transfers can be instant, but processing times can be up to 6 days depending on where you are sending/receiving funds.

PayPal: Instant deposits and withdrawals which should be processed within 3 hours is one of the many reasons that PayPal is so overwhelmingly popular.

Bitcoin: It’s a bit more complicated here, because it entirely depends on the number of confirmations required and the wallet you’re using. Generally, it should not take longer than half-an-hour to deposit. Withdrawals depend on the amount: a rough guide would be $2,000 per 24 hours up to $5,000 in 7 days. This can vary.

Neteller: Exactly the same as PayPal: instant deposit and up to 3 hours for withdrawal.

QIWI: Transfers into your account should be instant. However, QIWI is only available for deposits.

Skrill: Skrill (and Skrill 1-Tap) deposits should both be instant. Just like PayPal, it should take up to 3 hours for withdrawals.

Paysafecard: The Paysafecard voucher is instant. Unfortunately, it doesn’t allow you to withdraw. However, you can if you have a Paysafecard account. This should only take a few hours, with a rough maximum of six.

Entropay: Deposits with Entropay are instant but withdrawals can take up to three days, putting it’s speed behind the likes of PayPal.

Payment Methods Verification Requirements: Online Casino Payment Methods in Canada

The verification process is actually more about your country’s laws and the specific bookmaker you are using rather than the payment type. It is worth pointing out that certain casino sites cater to users who don’t want to share much personal information and generally offer more anonymous payments types like Bitcoin or other cryptocurrencies, for instance, in order to accommodate them. However, for this section, we will assume that you are using a relatively common betting site in this regard where some authentication is required.

Generally two types of verification are required and that is proof of identity and proof of address. Different casinos have different examples of what they accept as proof. Obvious examples include things like a driver’s license or passport,  and utility or tax bills for proof of address. Verifying your account should never take longer than a few days and how you get verified really should be clear and easy to find out from all good bookmakers.

There are also ways in which you can verify specific online casino payment methods in Canada. For instance, a credit or debit card is verified through the three digit code on the back, an address number for a Bitcoin wallet, or a code from a paysafecard voucher.

This is a little different as instead of proving who you are, you are proving that you are the rightful holder of the funds that you are trying to deposit. Once again, all policies in this regard should be made straightforward by any good bookmaker. If you find them lacking in that regard, it is possible that’s a red flag regarding the trustworthiness of your chosen casino site.

Editor’s Recommendation – Operator with the Fastest Payment Handling: Online Casino Payment Methods in Canada

Finding a casino with fast payment handling really isn’t that tricky. We are lucky to be living through a bit of a golden age in casino quality and that means that any site worth its salt should be more than competent at fast payment handling.

Generally speaking, you don’t need to have a strategy to choosing payment methods, as most reliable casino sites will handle payments as quickly as is technologically possible. It is still worth looking into their reputation in this regard specifically just to double check, and many will post the deposit and withdrawal times of each payment option on their Help section. Overall though, go with a casino that generally has a positive reputation and a high quality product and you’ll rarely go wrong in this regard.

Payment Method FAQs: Online Casino Payment Methods in Canada

One of the negative side effects about there being so much choice when it comes to banking options is that wrapping your head around them all can seem quite confusing. It’s no surprise then, that people do make mistakes when it comes to online casino payment methods in Canada.

Well, we’re here to offer you tips and guides to all things relating to deposits and withdrawals. We’re going to be taking a look at five of the most commonly asked questions regarding deposits and withdrawals.

Do I need to use the same deposit and withdrawal method?

This does depend on the individual casino and their policies, and you’ll have to check the exact situation with your chosen casino site. However, most do ask you to deposit and withdraw by the same payment method for security and identification reasons. If you consider it an irritation, do remember that usually this is for the safety of your money and data.

Why does an operator block my account?

There are, of course, many reasons why the operator could block your account. Often, it can be resolved quite easily and once again, remember that usually an account is blocked as a security measure to protect you. So, don’t start ranting at customer service because they are very likely trying to help you.

Reasons for a block can include issues with the verification of your account, multiple failed login attempts, duplicate accounts being detected (relating specifically to this is the possibility that more than one account is using the same payment details), fraudulent activity or information given, and more generally a violation of the terms and conditions. These depend on the individual bookmaker.

What online casino payment methods in Canada will get me a bonus?

Sometimes bookmakers and casino sites – like bet365, Bodog, Betway, Sports Interaction and Spin Palace – may want to incentivise a certain type of player by offering them an exclusive bonus for specific payment methods. This is often the case with cryptocurrencies. Unfortunately, more common is certain payment methods actually restricting you from redeeming bonuses. So, make sure to double check those terms and conditions to avoid disappointment.

What is the minimum deposit I can make in an online casino?

This depends heavily on the casino site. However, most commonly you would expect to find minimum deposit at between $5-$10.

Can I play without making a deposit?

Although there are exceptions, lots of casinos allow you to play their slots, roulette and other casino games free of charge in order to allow you to get a feel for their site before actually putting down any money at all. Remember though, that you won’t earn any real winnings in free play modes.

Conclusion: Online Casino Payment Methods in Canada

One of the common misinterpretations of casino gaming for Canadian players is that the country’s often confusing laws – which apply to gambling in Quebec and beyond – would result in a lack of choice. As we can plainly see, this is not the case, with the amount of online casino payment methods in Canada reflecting a truly varied and international variety of ways to play, allowing you to bet on the best games and odds before cashing your winnings out with ease.

You’ll find banking options suited to pretty much every need, whether you’re looking for something quick, simple, anonymous or all three. Just as is the case in general, there’s no shortage of options for Canadian players.

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