Online payment system InstaDebit was established back in 2003, quickly becoming one of the most popular payment methods for those registered at online casino sites. For those looking to discover whether InstaDebit is the right method of depositing and withdrawing cash for them, this page has everything that there it to know, including the pros and cons of InstaDebit, as well as exactly how it works. Players based in Canada are likely to be familiar with InstaDebit, so let’s start by looking at the casino sites currently offering this form of banking.
Best Canadian InstaDebit Casino Sites 2023
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What is InstaDebit? A brief History
InstaDebit was founded in 2003, with the organization being owned by InstaDebit International Solutions Ltd. InstaDebit has headquarters in both Toronto and Malta, helping them to become one of the leading e-transfer style platforms in operation today. Meanwhile, over 200 employees help to run their day to day business, with InstaDebit’s annual revenues sitting at over $10 million.
InstaDebit in Canada
Only those with a Canadian bank account will be able to sign up at InstaDebit, however they are still viewed as one of the world’s leading payment methods. Platforms in over 40 different countries are now able to offer their customers the opportunity to operate using InstaDebit, adding to the reputation of the company in the process. Transactions are able to be processed in both Canadian and American Dollars, with the mimum amount sitting at $1, rising up to $50,000. Meanwhile, almost all casino sites who cater for Canadian-based players now offer InstaDebit as a payment method.
Pros and Cons of Using InstaDebit as a Payment Method
The following are the main pros and cons discovered by the testing of InstaDebit as a payment method at casino sites:
- Your personal details are safe and secure – With deposits and withdrawals being made by simply logging in at InstaDebit on the relevant pop-up page, players can rest assured that their bank details will never be shared with casinos, adding another layer of security in the process.
- Canadian dollar-oriented payment service – InstaDebit is solely for Canadian customers, while Canadian Dollar is the main currency that is catered for too. This means that there is no need to worry about any fees surrounding conversion rates.
- Payment method specially designed for online gambling – Casino sites are one of the biggest markets in which InstaDebit is used in, with the payment service being perfect for online gambling.
- Instant deposits and withdrawals – Those looking to process deposits and withdrawals using InstaDebit through their preferred casinoo site will be pleased to hear that all transactions are almost instant, meaning that there are no frustrating waiting times.
- Also available as withdrawal method – As elluded to above, and unlike some other e-transfer style platforms, both deposits and withdrawals are available with InstaDebit.
- Has to be connected to your bank account – Those looking to use InstaDebit must link their account to an active bank account.
- Not available in all countries – Only those with a Canadian bank account can take advantage of the services and features in which InstaDebit has to offer.
New InstaDebit Casino Sites 2023
The majority of casino sites available to Canadian players now offer InstaDebit as a method of payment, with the likes of Spin Palace, Casumo, Jackpot City, Betway and 888 being among the platforms catering for those wishing to use the service. It is likely that an increasing number of sites will be added to the list in the coming months, with InstaDebit only becoming more and more well-known across the globe.
How Does InstaDebit Work?
InstaDebit is available to Canadian citizens who hold a bank account from a registered financial institution in the same country. Meanwhile, users must also be aged 18 or over, with a date of birth and social insurance number also being required in order to gain access. InstaDebit is basically like paying with a cheque online, however with it not being an e-wallet, funds cannot be directly deposited into your InstaDebit account from your bank account. Transfers of up to $15,000 can be made, while payments start at as little as $25 in most cases.
InstaDebit Account Registration
In order to sign up for an InstaDebit account, the following steps must be taken, with the entire process taking just a matter of minutes:
- Enter the InstaDebit website via desktop or mobile.
- Click or tap on the SIGN UP tab, located in the top right hand corner of the page.
- Enter the relevant personal details, including your full name, address and email.
- Provide the last four digits of your social security number in order to confirm your identity.
- Add your bank account details to your new InstaDebit account.
- Verify your account by depositing for the first time, starting at just $2.
- You are now ready to add InstaDebit as your preferred method of payment with your casino.
InstaDebit Fees
Deposits made using InstaDebit are free, however those using this method of payment to process withdrawals may incur a small fee, however this ranges from casino site to casino site. Withdrawals may come at a cost of C$2, while some casinos will cover this cost instead.
InstaDebit Alternatives
While InstaDebit is not an e-wallet in the traditional sense, those who are not 100% convinced by the services and features in which they offer may consider the following alternatives:
Neteller – Also part of the Paysafe Group is Neteller, with the e-money transfer system allowing money to be transferred to and from a variety of merchants, including casino sites. Neteller also offers a prepaid card, with the company having earned an excellent reputation when it comes to reliability and security since they were established in 1999.
PayPal – PayPal is perhaps the best-known e-wallet platform on the web, with the American organization supporting online money transfers internationally, as well as offering an alternative to the traditional forms of payment.
Paysafecard – Paysafecard, despite not being as popular as other methods of payment online, offers an alternative to Skrill, with users utilizing a voucher, rather than bank account or credit card. Users are able to deposit funds by entering the relevant 16-digit code when on their casino site.
FAQ
Deposits made using InstaDebit are processed instantly, while withdrawals are likely to take up to 5 working days to complete.
A large proportion of casino sites now accept InstaDebit as method of payment, however not all, so be sure to look into this further before signing up on a new platform.
Many casinos will deliver bonus funds to those who deposit via InstaDebit, however some terms and conditions mean that this can also make players ineligible.
All of the casinos discussed on this page and throughout site are 100% reliable, due to their safety and trustworthiness.
InstaDebit is 100% legal, with the organization being licesened and regualted in Canada.
Yes, although a small fee is likely to be incurred for those choosing to withdraw winnings using InstaDebit.
Yes, the InstaDebit website is fully functional on mobile browsers, while a dedicated app is also available to download on a range of devices.
A Final Word on InstaDebit Casino Sites
Those in Canada are already likely to be familiar with InstaDebit, however you may not understand just how effective it can be when operating on casino sites, with the speed and ease of payments making it an attractive option for most players. InstaDebit was made specifically with Canadian residents in mind, while their growth over recent years means that more and more online platforms are now able to offer them as a means of facilitating deposits and withdrawals, specifically in the world of iGaming. So, be sure to check out the casino sites offering InstaDebit, before deciding as to whether it meets your needs in this area.
