There are now well over 100 different online payment solutions that facilitate payments between online casinos and their registered members. However, most online casinos today only tend to accept anywhere from five to ten different payment methods.
Some online casino payment options are more reliable, secure, and convenient than others, and others are more widely accepted. You will also find that the payment methods you can use at today’s best online casinos will depend on which country you live in.
Let’s dive straight in to discover some of the best online casino payment methods currently favored by players, particularly in Canada.
What are the best Canadian online casino payment methods in 2023?
It’s hard to say which is the best Canadian online casino payment method in 2023 because players like to use various tried and tested payment methods.
For example, some players are happy to use their credit or debit cards to deposit and withdraw at their favorite online casinos, and other players would never dream of using their credit or debit cards at online casinos.
You will also find that some players find that a direct/instant bank transfer is an ideal payment method, and others prefer using digital wallets (aka electronic wallets, web wallets or e-Wallets).
As a player, it’s important to weigh up options. Interac E-transfer casinos, for example, is a popular choice for Canadians; in fact, Interac E-transfer casinos are now hugely popular in Canada.
Interac is a reliable payment solution that acts as the middleman between your bank and online casino account. It’s free and easy to use and is known for rapid transaction times.
Some Canadian online casinos also now accept certain major cryptocurrencies like DogeCoin, Ethereum, Bitcoin, Bitcoin Cash, Avalanche, Tether, Litecoin, Ripple XRP, and Avalanche, to name a few.
The most effective Canadian online casino payment options are the following:
- Direct/instant bank transfers (Interac, Trustly)
- Digital wallets (PayPal, Apple Pay, Neteller)
- Prepaid voucher cards (e.g., Neosurf, Paysafecard)
- Credit and debit cards (e.g., Visa, American Express, and Mastercard)
- Cryptocurrencies (Bitcoin, Ethereum)
Which top-rated Canadian online casinos accept Interac?
There are, in fact, two ways to use Interac; ‘Interac online’ (online purchases made via your personal bank account) and ‘Interac e-Transfer’ (Electronic fund transfer service made from your bank to the casino).
Let it be noted that many of today’s best Interac casinos only accept e-Transfer for Interac withdrawals.
If you go to the official Time2Play website, they recommend six Canadian online casinos that accept Interac, including CrocoSlots, Betsafe Casino, BetandPlay Casino, Axe Casino, Arcanebet Casino, and 888 Casino.
You can find secure links to each casino’s official sign-up pages inside their reviews. These perfectly secure casino sites are owned and managed by reputable iGaming operators, and they are fully licensed by several mid to top-tier licensing authorities.
How long do deposits and withdrawals take at online casinos?
The time it takes for a deposit to be processed at today’s best online casinos is usually instant. Whether you use Interac, PayPal, Visa, or Neosurf, as soon as you hit the confirm/send button, the money should arrive in your online casino account from your payment method in the blink of an eye.
The slowest and most annoying way to top up your online casino account would be via bank check. Yes, there are still many online casinos out there today that accept checks. However, very few players use this method to top up their accounts.
Direct bank transfers, digital wallets, credit & debit cards, and prepaid voucher cards usually process your deposit instantly, so there’s never any waiting around for your funds to arrive in your account.
When it comes to withdrawals, it’s usually never instant. Even at online casinos that claim to process instant withdrawals, it can still take up to 60 minutes for your ‘instant’ withdrawal to be processed.
Most of the time, players wait anywhere from two or three hours up to 24 hours. It may even take up to 48 hours, so don’t start panicking just because your withdrawal is taking much longer than your deposit took to be processed. Be patient and expect to wait up to 48 hours at most.
If it’s taking any longer, you may want to contact your casino’s player support via live chat, email, or telephone and ask them roughly how much longer you will have to wait.
You may find that Interac is the best payment solution for you to use at online casinos, but others may disagree.
It’s all about finding something that’s convenient for you and not worrying about what everyone else thinks the best online casino payment method is.
Ken Anucha studied Information Technology at Sikkim Manipal University. He is a gaming and sports enthusiast whose aim is to keep folks in these spheres thoroughly informed and up-to-date.