Canadian Instadebit Casinos - Deposits and Withdrawals
InstaDebit is a Canadian e-banking option through which customers can pay their merchants directly from their bank account. The payment processor is owned and run by InstaDebit Services in Toronto, Canada, and there are not many InstaDebit casinos to play at.
Having been in business for over a decade, today the e-banking method boasts thousands of active subscribers in Canada, who make smooth payments to online betting operators. The payment option is usually used by Canadian players to deposit and withdraw funds from online gaming sites, sportsbooks, dating sites, e-commerce sites, new online betting sites, and so on.
How InstaDebit Works
InstaDebit basically plays the middleman, helping you transfer cash from your bank to your gaming account in a flash. Whether you deposit money or withdraw, all InstaDebit casino transactions are instant. In addition to that, the payment processor doesn't have access to your own personal banking details, making InstaDebit a fast and secure online payment option, which many Canadian players use on the regular to carry out their gambling transactions.
Unfortunately, the payment provider works only in Canada. As such, online gamblers from other countries are advised to choose other payment options. As Canada is the only place where this payment provider works, the e-wallet accepts only two currencies: the US dollar and the Canadian dollar.
In addition, it's important to keep in mind that this payment option allows you to make deposits worth up to $50,000 and at the same time incur fairly small charges for your online gambling transactions.
InstaDebit Casino Withdrawals
InstaDebit simply provides a secure buffer between your online gambling site and your bank. It also runs the payment process through its own gateway. The processing time for payments is right away, unlike traditional wire or bank transfers. The withdrawal process through this payment option is almost similar to making a deposit.
To withdraw from a Canadian betting site that accepts InstaDebit:
- Click on "withdrawals" on the cashier page of the InstaDebit casino site you're playing at.
- Enter the sum of cash you want to withdraw.
- Choose InstaDebit as your cash-out option.
- Send your cash-out request.
- Then wait for the approval of the request.
The clear edge this Canadian payment processor has over its competitors is its ability to handle both deposits and cash-outs. And unlike other well-known e-wallets, it has no limit on cash-outs.
The InstaDebit casino you play at won't charge you an extra fee for making use of this payment service. But the service does have small fees for the transactions it handles.
Setting up the payment provider's account is absolutely free, while depositing money into the online betting platform you want to gamble at from your InstaDebit account will cost CA$1.95. In addition, there are no charges for making direct deposits from your gaming account.
If you want to cash out from the online gambling operator you're playing at, it won't cost you a dime to transfer your winnings to your InstaDebit account. But then it'll cost you CA$2 to transfer your winnings to your checking account. Make sure to ask your bank whether it charges any extra fee for using this payment provider.