The community of Canadian players is increasingly looking toward online casinos because of their widespread availability no matter where they reside in the country. The other reason is that they allow players to bet and play their favorite online casino games, such as poker, from the comfort of their home. Meanwhile, the community of Canadian players is equally divided with respect to the limited options they have when it comes to online casino banking.
This is because of the many differences that exist between the various e-wallet and bank transfer services. There are many names and they all provide incentives to the average Canadian player, but it’s important that they weigh their options before settling for one.
Top Casino Banking Options Review and Comparison for Canada
Credit Cards (Visa, MasterCard)
One of the most popular online casino payment methods for Canadian players is credit cards, which include Visa Cards and Master Cards. Almost everyone owns one, which is what makes them so widely used. However, while credit card deposit and withdrawals are usually efficient, easy, fast, and secure, only a handful of online casinos offer the same convenience.
Moreover, many of the credit card providers do not support businesses that involve online gambling, so you would not be met with a lot of compassion if you try to claim fraud over any of your betting transactions.
Skrill
Just like credit cards, Skrill is another popular and convenient method of making online transactions in Canada. Skrill withdrawals of real money and deposits are efficient, possibly the quickest compared to all other banking options, and most of all free –there is no registration or transaction fees unless you conduct international transactions.
In addition to these benefits, Skrill offers a safe and secure service to Canadian casino players, as the entire process does not require the player to enter any credit card information or bank account numbers.
Neteller
Neteller is another versatile service for making online deposits and withdrawals in online Casinos Canada. Owing to the fact that to use its services, a person only has to offer their Neteller account number and no other personal details like bank account number or credit card information. This makes the entire exercise much, safer than many other banking options available.
While registration is free and offers the option to link more than just one bank account, it is long-winded and can benefit from being a little comprehensive.
EuTeller
EuTeller is primarily a Finnish e-commerce online transaction service that is efficient, fast and secure. It acts as a middleman between your bank account and casino sites, providing security to your personal account and other financial details.
It offers hassle-free registration to Canadian players, albeit with a minor charge. EuTeller, however, only accepts transactions made through a certain number of Finnish-only banks, which makes it less likely to be used by Canadians.
PayPal
Just like Skrill, and debit cards, PayPal is about an equally popular and widely-accepted method of online money transactions for Canadian players. Registration is fast, hassle-free and comes with negligible fees. The services provided are secure, reliable and swift.
EntroPay
EntroPay is another fast, efficient and secure method available to Canadian players gambling online. It offers instant registration and a safe, encrypted mode of the transaction without needing to enlist personal details.
However, it is not as widely-acceptable as PayPal, Skrill or Debit Cards. Additionally, the transactions are not free and players may be charge up to 4%, which makes it a less likely option to be used when compared to other services.
EcoPayz
EcoPayz offers free and instant registration, without requiring any extensive credit checks or personal details. It acts as a middleman between your bank account and online casinos Canada sites, which means the only money at risk is the one in your EcoPayzaccount.
PaysafeCard
Paysafe Card is another fast, efficient, widely-used and safe method for Canadian players to make transactions when gambling online. Paysafe offers complete anonymity that is a person will not have to disclose their private and sensitive information to conduct their transactions. Withdrawals, however, are not possible with Paysafe Card.
Pros and Cons of eWallet Banking
Pros
- Having an eWallet account helps keep your financial information secure from being accessed and used by third parties. This is because you only need to share crucial banking information with the eWallet service provider.
- Canadian players can have better control over their finances because an eWallet account can be connected to a separate account that is only used for online casinos Canada.
- eWallets complete transactions with speed and reliability. Canadian players don’t need to worry about their account being blocked because real money is instantly loaded into their online casino account.
Cons
- There are chances of a eWallet account being accessed by a hacker but the account can be blocked quickly.
Pros and Cons of Credit Card Banking
Pros
- Quickest method because credit card transactions are faster than other types of financial transactions
- Convenient for Canadian players because many of them have more than one credit card
- All that is required is the number and funds are instantaneously credited into an online casino account
Cons
- Many Canadian players may feel unsafe providing discreet information to online forums
- Using a credit card without another method to complete the transaction will allow the credit statement to show money being sent to online casinos
- Some parts of the country have different laws that block such transactions so Canadian players have to find another method
Pros and Cons of Bank Transfers
Pros
- Depositing money into online casinos Canada can be done instantaneously through bank transfers
- No worries regarding security because of the high standard of commercial banks
- Canadian players can easily withdraw their winnings in real money through a bank transfer as well
Cons
- Cash out can take a minimum of a few days and it can sometimes take months before Canadian players receive a payout
- It requires that you share highly confidential information such as your bank account number
- Every part of a country will not have banks that offer such a transfer
Pros and Cons of Prepaid Card Banking
Pros
- These are easy to acquire and Canadian players can load them instantly
- These are better for protecting sensitive information of users
- Prepaid cards give more control to Canadian players over their finances
Cons
- They can’t be used to withdraw winnings in real money