Different Payment Options in Canada

Online Casinos – The different payment options in Canada

We are in a digital era. You can pay for casino games anywhere and at any time you please. And here’s the best part – there are lots of payment methods to explore. The versatility of these payment methods allows you to choose one that works for you irrespective of where you are in the world. The choice made will be governed by the convenience and availability of the method in your country of residence.

With that said, here’s a quick breakdown of the online payment methods.

Debit and Credit Cards

Credit and debit cards are popular. In most countries, they are fast replacing cash payments. For instance, more than 56% of mobile payments in Canada are made via debit cards and 48% are made via credit cards. The most popular option of this payment type includes; Maestro, Visa, and MasterCard.

The credit and debit cards are also popular in Europe. However, in recent times, their use seems to be dwindling as more and more people choose alternative options.

E-wallets

Soon these options will take over the world. Though most are about a decade old, e-wallets continue to make huge ripples in the industry. The fact that they are easy to use and fast makes them a preferred choice by many. Deposits and withdrawals reflect in a matter of hours.

But on the downside, transacting through e-wallets attracts a fee. Every transaction is charged – it’s how the e-wallets remain in business. However, these charges are rather small and users can always earn back the money spent on fees through the loyalty programs most e-wallet platforms offer.

Today, the most popular e-wallet is PayPal. It has close to 200 million users and it’s the leading e-wallet in the US and Canada. However, not all online casinos accept PayPal since the PayPal gambling policies are strict. Other famous e-wallets used by players and operators are Neteller and Skrill.

Prepaid Cards and Vouchers

Vouchers, coupons and prepaid cards like Ukash and Paysafe are increasing in popularity. They offer better security compared to credit and debit cards. Among these solutions, Paysafe Card takes the lead. It’s currently accepted in more than 3500 websites including online casinos. As its name suggests, it promises and guarantees high-security levels and fast transactions with minimal fees. It is popular in Europe.

EcoPayz is yet another best option accepted by online casinos. It is loved because it offers several financial products including ecoCard.

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How to withdraw your funds from any online casino – by JackpotCity

Bank Wire Transfers

Various bank wire transfers are allowed by gambling operators. Actually, some of the top Canadian online casinos prefer this payment option. The reason for this is the security level it has. It helps to minimize the risk involved for both parties.

Note: a huge chunk of this security is attributed to the thorough identity check. This check causes the transaction to take 7 days. Moreover, the fees payable are quite hefty in comparison to other payment options.

Instant Bank Transfer

These are a type of bank wire transfers. However, they are faster which makes them better than regular bank wire transfers. The most common instant bank transfer is Trustly. Other options include iDEAL, Giropay and POLi payments.

Conclusion

Whether you are withdrawing or making deposits, you should note the options you have. Know which type meets your needs and preferences. When making the choice, consider speed, flexibility, commission fees, security and ease of use. You can read more about payment methods on online casinos at Foxbonus.com.

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