Canadian Deposit & Withdrawal Guide for Online Casinos
If you're ready to start playing slots online, you have to make a deposit into your casino account. The sooner you can get this money into your account, the sooner you can get to all the fun. Likewise, when you win, you will at some point want to cashout your money. Fortunately, both options are pretty straightforward and will not take too much time away from your slot action.
Legal Gambling in Canada
Before you give your hard earned cash to an online casino, you may be curious about the Canadian gambling laws. The short cut version is that player’s can have all the fun they want at an online casino. Playing slots or any other game is completely legal. It’s only illegal to operate a casino within the country (unless you’re in designated regions). Canadian citizens are NOT at risk of prosecution by gambling online. All our recommended Canadian casinos are safe and legal to play at.
Making a deposit to play slots online
No matter where you live in Canada, adding cash to your casino account is very easy.
A credit or debit card is the most popular deposit method. If the site accepts Canadian dollars, you can be pretty sure that your card will be processed. When using your card, you will need to enter your information and wait a couple of seconds for your funds to be credited to your account. That’s it. Rest assured, it is completely secure using SSL encryption technology. If you’re not using a credit card, there are plenty of other options.
E-wallets, or third-party accounts, are one of the best options to make a deposit at a casino. These give you the ability to add cash to your account without giving the operator any of your personal information. InstaDebit, PayPal and Skrill are all ideal options for Canadians.
Heads up, you will need an account for the third party site and transferring money into that account may take a few days.
If you don’t have an e-wallet or don’t want to wait for the funds to clear in your third party account, you can use instant banking. This cool deposit method allows you to use your bank account to add cash directly into your casino account. The funds are instantly debited into your account in real time. UseMyFunds and eCheck are all highly recommended.
Bank wires are a viable way to make a deposit. This option is good if you want to add a large amount of cash to your bankroll, or if you are not comfortable with any of the above deposit options. A bank wire will take a little extra time and will require you to share a small amount of information with the casino (i.e. bank account number). Even so, it is safe and secure.
Let’s say, as of yet, none of the options are right for you. Another option is pre-paid cards. These are just like a credit card, but can be purchased at a store or online with cash. In Canada, these cards are virtually anonymous, but remember you still have to prove your identity at the casino website. To use it, you’ll select this method at the casino cashier, enter the pin or card number and click checkout. Check out uKash, Entropay and Visa Vanilla; they are the most reputable pre-paid cards in Canada.
Is making a deposit or withdrawal safe?
All of our recommended casinos take security measures seriously. Both financial information and personal data is kept confidential using the latest security protocols. These casinos are just as secure as online banking, if not more.
Withdrawing your online winnings
Understanding how to deposit money is important, but knowing how to make a withdrawal is just as important. Finding a method that works for you can take a small bit of effort, especially if you’re winning large jackpots and bonuses.
Most online casinos have a wide range of options, but they will be much less than the options you had to make a deposit. This is usually due to the rules and regulations of the payment processors. That said, take a look at the options Canadians have to make a withdrawal.
You will need to provide the casino with certain card information. After, follow the payment instructions on the site and start the process. Your money will usually be available in 7-10 days.
E-wallets are some of the most convenient ways to move cash out of your casino account. The process typically takes around 3 days, but sometimes less. Once in your e-wallet, you can leave the cash in that account or transfer it into your bank (another few days).
Wire Transfers and Checks
Both these methods are good for large transfers or if you don’t have another preferred method. This option can take between 10 and 20 days to clear.
Using the same deposit method
Many casinos appreciate, and even prefer, players to make a withdrawal using the same method as you made the deposit with. This is not a must, but makes everything a little easier. However, in Canada, if you used MasterCard to make a deposit, you will not be able to withdrawal cash back onto it.
Every casino implements standard processing times for all withdrawals. These vary from site to site, but are usually between 12 hours and 3 days. Confirm with the site before you begin the process.
There may be fees attached to any of the payment methods we’ve listed (or those on the casino site). Confirm with the casino and your bank before you play.
When you play slots, and are ready to collect your cash, check to see if there are any withdrawal limits. Many of the casinos allow C$2000- C$4000 per week for new customers. This limit can be raised as you work your way up the loyalty ladder.
What you’ll need
When you cashout, you will need provide the casino with a proof of identity before you can receive your money. You may need to show utility bills, a driver’s license or any other documentation that proves you are who you say you are.
At the end of the day, read the casino reviews, do your own research and know what banking options you’d like to use. Through this, you’ll have no trouble making a deposit or withdrawal at any of the top slots casinos.
MORE SLOTS-RELATED TOPICS FOR YOU!