Canada features a selection of intriguing banking methods. However, three of the overall popular payment methods available to Canadian players are Instadebit, iDebit and ecoPayz. But if a Canadian online casino offers all of these options, which do you choose? What are the differences between them and how do you benefit from using them for deposits (and potentially for withdrawals, too)? Join us as we take a look at these individual banking options and figure out which one provides the better service for Canadian gamers.
Benefits of Using Instadebit to Make Payments
Instadebit is a payment method that works with banks based in Canada, providing its users with the opportunity to transfer money from their bank accounts to the casino. It can also be utilised for withdrawing funds from the chosen platform, and setting up an account with Instadebit is quick and simple.
One of the primary appealing features associated with Instadebit is that it is usually accepted at most online casinos providing their services to Canada. The payment method also offers high levels of security for transactions, as well as top-quality customer support and speedy transaction times.
Its cutting-edge encryption technology ensures that all of your personal information is kept safe and out of the hands of third parties. All accounts are fully monitored on a 24/7 basis to keep them secure, with customer service being on hand for that timeframe, too. At the same time, withdrawals done through this payment method are exceptionally fast, with most transactions not taking longer than 72 hours. And one other perk to using Instadebit is that you do not need to reveal your bank information to the casino or to third parties, either.
Perhaps the largest downside of Instadebit is that it does not link up with all Canadian banks. So, you may want to check if the bank you hold an account with is supported.
Benefits of Using iDebit to Make Payments
As with Instadebit, the iDebit option takes funds from your bank account and deposits this directly into the casino for you. Essentially, the payment method works as the middleman between the two. Likewise, it has partnered up with multiple banks to allow customers to benefit from this service. The primary difference is that iDebit has the possibility of functioning as an e-wallet or as an intermediary between your account and the casino.
iDebit was originally crafted with the idea of catering to people in numerous countries around the world, but Canadians make the most use of it. It is a safe and simple method to utilise, both for completing deposits and withdrawals at a casino. Deposits with iDebit will always be completed instantly, and this allows you to get on with playing some of the best casino games found within the lobby.
It is key to note that transactions completed through this service do come with a fee. A payment from your online bank account costs $1.50 per transfer while moving money from your iDebit e-wallet to the casino costs $2.00. Of course, some other payment methods may charge more than this, but there are definitely options that don’t charge fees at all, too.
As in the case of Instadebit though, iDebit is simply a middleman, so none of your bank details will be saved by the payment method. Protection comes in the form of SSL encryption technology, guaranteeing that any of your personal data is kept safe. And as mentioned earlier, iDebit does also have a presence outside of Canada, meaning that it is potentially used on a much wider scale.
Benefits of Using ecoPayz to Make Payments
When compared against the other two options, ecoPayz offers a totally different bag of chips. This is a payment method that is similar to Skrill or maybe Neteller, in the sense that it is an online e-wallet. Therefore, making deposits and withdrawals through ecoPayz requires you to have signed up for an account with the brand. From there, you can upload funds to the e-wallet before transferring them to the casino account in a transaction.
Unlike Instadebit and iDebit, ecoPayz isn’t based in Canada and it isn’t operated by a Canadian company, either. Instead, it is operated by the Financial Service Authority (FSA) of the United Kingdom. It is because of this that it is also accessible to a number of other countries apart from Canada. This doesn’t mean that its operation in Canada is anything less to experience, though.
Secure account funding will be experienced with this payment method, and you will have the benefit of top-quality data security. Opening an account is free and there is little waiting time for the processing of transactions, both deposits and withdrawals. Virtual card payment options can also be set up through ecoPayz. However, there can be extra fees in place when it comes to transferring money from and to your e-wallet account.
So, What Stands Out as Being Better?
In general, the ecoPayz e-wallet stands out as being better if you’re looking for speedy deposits and withdrawals. The other options can have slower withdrawal timeframes to endure. However, ecoPayz and iDebit both charge users for transactions, and while the fees aren’t overwhelmingly high, over time, they can mount up. Instadebit and iDebit potentially work better than ecoPayz as you make a direct transfer from your bank account, whereas funds need to be uploaded to the ecoPayz wallet.
In the end, it depends upon your personal preference. Of course, if you have a bank account that isn’t supported by Instadebit but is by iDebit, then the answer between them remains obvious. However, ecoPayz always remains a valid alternative to utilise in any circumstance.