Online Casino Deposit Methods in Canada

For many players who want to get into the world of online casinos, depositing money into a casino account can be daunting. As a new player, you might wonder what options are available to you in Canada. You’ll also want to know if it’s safe to share your financial information, and if there are any common issues with casino deposit methods you should be aware of.

The good news is that depositing money at an online casino is similar to buying something from any other website. While you’ll find different options depending on the casino, you’ll always have safe options to play with if you follow our guide.

Note: When gambling in Canada, you should play at casinos licensed by reputable gaming authorities such as the MGA. This protects your money and your details, since licensed casinos only work with trusted payment providers.

Credit Cards and Debit Cards

Credit and debit cards are probably the most popular payment option online today. It’s only natural, then, that they are also widely used at the best online casinos in Canada as a deposit method.

When it comes to brand names, you’ll find both Visa and MasterCard as staple casino deposit methods. You’ll also find sites that accept deposits through American Express or other cards, though they are less common. Gamblers love Visa casinos as your deposit is processed instantly, so you can play in a matter of minutes. There are also no fees attached to Visa deposits, and this is also true for MasterCard casinos.

The main issue when using a card is that not all casinos provide it as a withdrawal option. This means you’ll have to find alternative ways of cashing out, such as using an e-wallet. Also, some banks block card transactions for gambling, which is quite common in countries like the US. It doesn’t mean you can’t use your card to play online, but sometimes it will take a bit of experimentation before finding a card/site combination that works.

Popular Deposit Methods for Online Casinos in Canada

Other Deposit Methods

E-Wallets

Another popular way to move money around is the use of e-wallet sites. You can store money in an account that can then be spent online or transferred to your bank account. These sites offer a convenient way to spend money online without constantly making withdrawals from your bank account, making them popular in e-commerce as well as in the online gambling industry.

Perhaps the best-known e-wallet is PayPal, which is used as an online casino deposit method around the globe. However, currently online casinos in Canada don’t accept PayPal. Still, there are other e-wallets that offer similar options. Neteller and Skrill casinos are two of the most famous ones. Neteller was once basically the only name in gambling-related e-wallets, known for its speedy transaction times. Skrill is popular both inside and outside the online casino world.

Another e-wallet which is very popular among Canadian players is ecoPayz. You’ll need an ecoAccount to deposit at ecoPayz casinos, however after you’ve set that up, topping up your casino account is simple. You won’t have to provide any financial details to your chosen casino as ecoPayz acts as an intermediary.

Top Tip: Keep in mind that you won’t always be able to claim casino bonuses with e-wallets such as Skrill, but there are exceptions.

Pay by Phone

Pay by phone casinos are great for those who want to play on the go and top up their account from their phone balance. One of the main benefits of pay by phone as a casino deposit method is that you won’t have to give any card details to the site. Also, pay by phone only allows small deposits, which means that you can control your bankroll better. Still, you should know that pay by phone options can only be used to deposit, and you’ll have to find an alternative method to cash out.

The top pay by phone providers popular in Canada are Boku and Payforit. These providers are great as they won’t charge you any fees when making a deposit.

Prepaid Cards

If you want to keep your financial information private, prepaid cards and vouchers are a good alternative. You won’t have to share your debit card with a casino site or involve your bank in your casino play. Prepaid cards allow you to purchase a voucher of a certain value from a local store, then use that stored value to make a deposit at your chosen real money casinos in Canada. You can even make these purchases in cash, eliminating the need to even have a bank account or a debit card.

Perhaps the most popular example here is Paysafecard, most often used for real money slots play. All you need is a 16-digit PIN which you'll find on the purchased voucher. You’ll then use this code to make your first deposit and play your favourite slots and casino games!

Bank Transfers

It is also possible to use your existing bank account to fund an online gambling account. A number of different ways exist to do this. Gamblers who opt for bank transfers usually want a casino deposit method which allows them to top up their account with larger amounts, and to do so securely. Although keep in mind that this is a slower banking option than most.

In many cases, you can initiate a wire transfer from your bank, or use an e-check to deposit money into your casino account. E-checks are actually quite a popular deposit option in Canada. You can also fund your account through online banking. This is a quick and convenient way to facilitate transfers directly to an online casino or another merchant, pulling the funds directly from your authorized bank account.

Two instant banking options which are uniquely Canadian include Interac and InstaDebit. Gamblers opt for Interac casinos because deposits are processed within half an hour, and there are minimal to no fees attached. This is also the case with InstaDebit casinos, which also allow you to deposit and withdraw using the same method.

Cryptocurrencies

Digital currencies are a good option for Canadian gamblers who want to remain private online. While your transaction is still recorded on the blockchain, no one can connect it to your name. Crypto gambling is also becoming more popular since it’s also very secure, with no details shared with the casino.

The most popular cryptocurrency in the world is Bitcoin. Ever since 2009, transactions with Bitcoin have boomed, also giving rise to Bitcoin casinos. In 2016, the second most important digital currency was created. It is known as Ether, and the platform which powers it is Ethereum.

Both process transactions faster than traditional currencies, however Ethereum is even speedier than Bitcoin. And while Bitcoin gambling is still in the lead, this is the main reason why Ethereum casinos are becoming more common worldwide.

Other cryptocurrencies you’ll find at online gambling sites include Bitcoin Cash (BCH), Litecoin (LTC), Dogecoin (DOGE), and Ripple (XRP). These are also known as altcoins in the crypto world, since they were created as alternatives to the original crypto coin, Bitcoin.

These and many more casino deposit methods are available at online gambling sites in Canada and around the world, with the options varying between casinos and countries. Still, if you stick to safe online casinos in Canada, you’re bound to find a deposit method that secures your funds and suits your needs.