Each method has advantages and disadvantages, and keeping track of them can be challenging for the average user.
So, we’re going to go over the five most popular casino payment methods for Canadian residents and why you might want to use them. By the time we’re done, you should know which is right for you!
1. Debit and Credit cards (Visa and Mastercard)
Card payments aren’t just the most popular payment method in Canada but also worldwide. This is because card options like Visa and Mastercard are internationally available, easy to use and offer hassle-free, secure transactions. When you log into an online casino, you can usually be sure it’ll accept one.
If Mastercard is a payment method that appeals to you, check our review of the best Mastercard Casinos in Canada at newsdirect.com.
Widely accepted at CA casinos
Requires you to input sensitive card details
Easy to use
Card payments often have longer withdrawal processing times
Safe and secure payments
2. E-wallets (PayPal, Skrill, and Neteller)
With the rise of online shopping, we’ve seen e-wallets rise to prominence. As they’ve become more popular, Canadian casino players have started using them for their deposits and withdrawals, thanks to their convenience and security.
E-wallets are digital wallets that allow players to store their banking information in one online space safely. When you make a payment through an e-wallet, you don’t have to share any financial information, making them incredibly safe.
Provides the quickest transaction speeds
Stricter withdrawal limits
Highly secure payments
Not universally available
Convenient and accessible across multiple platforms
3. Prepaid cards (Paysafecard and ecoPayz)
Prepaid cards work a lot like gift cards because they allow you to spend a limited amount of money on the card. These are popular for people looking to not overspend or who don’t want the casino to gain access to their financial information.
Prepaid cards can be purchased online or at retail stores. While there are dedicated prepaid card services like Paysafecard and ecoPayz, other payment methods like Visa and PayPal offer prepaid card options.
Another popular prepaid card in Canada is Neosurf, to read more, check out our dedicated page.
Players can’t spend more than is on the card
You cannot make withdrawals on prepaid cards
Prepaid cards can be bought anonymously
You have to buy the prepaid card ahead of time
Casinos never touch your private banking information
4. Bank transfers (Trustly and Boku)
Bank transfers, or direct or wire transfers, are payments made directly from your bank account to your online casino account. This method cuts out the middleman and is resistant to fraud. As such, online casinos let you make much larger transactions, making it perfect for high rollers. However, it can be much slower than other methods.
Reliable and doesn’t require third-party involvement
Can take significantly longer to process than other methods
High deposit and withdrawal limits — some casinos don’t impose limits at all
Often incurs transaction fees
Convenient — the only thing you need is a bank account
5. Pay by phone bill
Pay by phone is an unconventional but very convenient method of making casino deposits. With this method, players can make deposits and add the charge to their phone bill to pay off later. This is particularly convenient if you play before a paycheck or need to delay your payment.
Super convenient and swift deposits
You cannot cashout through pay-by-phone
No financial information is shared with the casino
Daily deposit limits are notably less than other methods
Players can delay payment until later
Additional tips for choosing a casino payment method:
Based on your style of play, take the maximum and minimum transaction limits of each method into account
Compare transaction fees between online casinos to find the lowest
Use an online casino that employs encryption security across all transactions to ensure your security
Consult customer reviews for additional opinions and genuine insight
The different pros and cons of each method will affect whether it’s right for you. So assess what you’re looking for and determine which of these is best for you! Also, bear in mind that these payment methods aren’t universal. Some casinos won’t feature all five of these methods. Before you sign up with a casino, always check which payment methods are accepted so you know you can make deposits and get playing.
DISCLAIMER: We would like to emphasize that gambling is risky and should not be used to resolve financial difficulties. The saying "the house always wins" is worth keeping in mind.
If you or someone you know has a gambling problem, we firmly advise you to call the Gamblers Anonymous at 1-626-960-3500 to speak with an expert about getting assistance and making gambling safer for you or your friends and loved ones. Remember that all gaming websites and instructions are intended for people aged 19 and above.
Some of the casino sites featured on our site may not be available in your location. Check your local regulations to see if internet gambling is permitted in your area.
Check out the following organizations for free gambling addiction resources: