Everything about Safe and Secure Banking for Canadians

Knowing about Canada casino banking methods is essential for every Canadian resident who wants to play online for real money. The online casinos we recommend at Canada Casino Club are as safe as banks. They implement the latest encryption technology to protect player details and their financial transactions. In addition, they integrate a wide range of payment options, many of which are safe, secure, and convenient for Canadian players.

Is Online Casino Banking Safe?

Canadian players need not be apprehensive about revealing their card details at Canada-facing online casinos. We recommend only casinos that implement sophisticated encryption technology to protect your financial transactions and sensitive credit card information. Players receive their unique account numbers and can access their accounts with passwords that only the account holder knows. If players want to bank anonymously without revealing their credit card details, they can choose to deposit funds and withdraw winnings using methods such as prepaid cards and eWallets.

Types of Banking Methods for Canadians

There are several Canada friendly banking methods for players to choose from, and here is a brief overview of some of them.

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 Winnings can be withdrawn back to the credit card; however, players should note that they can only withdraw an amount equal to the amount deposited using a credit card.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 Winnings can be withdrawn back to the bank account safely and securely.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 Canada facing 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 are UKash and PaySafeCard.

More about Withdrawals

The online casinos we recommend process payouts at the earliest possible. However, in addition to the processing time, players 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 players’ doorsteps.

Before requesting payout for the first time, players have to verify their identity by submitting the relevant identity proof. This is an essential procedure to make the casino banking system very secure.

Online Banking Q &A

Q: How often can I withdraw my winnings?
A: 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.

Q: How long do casinos take to withdraw funds?
A: The casinos we recommend start processing your payout requests the moment they are received. Casinos may take around 48 hours to process payout requests.

Q: How do casinos pay out winnings?
A: 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.

Q: Why am I required to verify my identity?
A: Casinos request documents proving identity for security purposes. You need to verify your identity only once, before you request payout for the first time.

Q: Can I deposit funds in Canadian dollars?
A: You can deposit funds in any currency of your choice, but some casinos may convert these into Euros or US Dollars according to the latest exchange rates.