If You’re Canadian Instadebit Online Casinos Are Made For You
In the fast moving online casino industry payment methods are getting a lot of attention these days. Laws surrounding online gambling are at best confusing for most. At lot of the laws are to do with banking and as such more financial institutions are coming up with innovative solutions to making deposits at your favorite online casino. Instadebit is one such method that seems to be made for those who wish to gamble online. A strictly Canadian solution online casinos that accept Instadebit are plentiful. In fact just about every legally registered online casino that takes Canadians offer this method to fund your account.
So What Is Instadebit?
Despite a lot of information to the contrary Instadebit is not an e-Wallet. It does seem very similar but the company insists it is not. Instadebit is basically a secure method to make payments online directly from your bank account. It is a very simple method that is very well liked in Canada. The transaction costs are low especially if you have funds in the Instadebit account. In fact it is free to use if funds stay in your Instadebit account. The charges occur when you transfer money to and from your linked bank account. When you make a deposit to an online casino using your Instadebit account, if there are no funds in the account it will automatically come from your linked bank account. This incurs a fee of $1.95 CAD. When money is returned to your Instadebit account in the form of your winnings there is no charge. If you wish to transfer those winnings to your linked bank account then there is a charge of $2 CAD.
Setting Up Instadebit Couldn’t Be Easier
Setting up your Instadebit account is very simple and can be done the first time you want to make a deposit. Go to the cashier’s page at your online casino and select Instadebit. You will be sent to Instadebit’s secure page. You will need a Canadian bank account to proceed. You will have to provide some basic personal information to create the account. At no time will this information be shared with anyone else. Name, date of birth, physical address, email address the last 4 digits of your SIN and of course your bank account details. You have to be 18 or over to use Instadebit and the information given is used to verify identity and age. You will never be asked for your full SIN. A small deposit will then be made to your bank account. This deposit is under $2 and is used to verify your bank account you need to know this amount when it comes to increasing your spending limit. You will be given a temporary spending limit until verification.
Not All Pros But Cons Are Acceptable With Instadebit
As it stands at the moment there are no plans to offer the service outside of Canada. That being said Instadebit operates using both Canadian and US dollars. Another downside to Instadebit is the length of time funds take to clear when depositing and withdrawing to and from your linked account. It takes around 3-5 days. Meaning you will need to keep close track of your money so you stay in credit.
Not unusual when balancing a checking account but in the days of instant internet a little inconvenient. Security is the biggest plus with this method for Canadians wishing to enjoy a little light casino action. At no time are your financial details given to the casino. Every deposit made goes through the secure page at Instadebit. Underpinned by top notch firewalls and bank level encryption Instadebit is a trusted and safe company. Canadians are an easy going race but when it comes to your money you want to know it’s safe. Instadebit have a lot of security protocols in place to safeguard against fraudulent use. One such is freezing the account if the wrong deposit amount is entered or other mistakes made while using the service. This is great in principle although in practice can be a little tedious if you make typos! But in reality what price your security?
Online casinos love to use Instadebit, probably because there is no charge back system! They like it so much that many of the top online casinos are offering a bonus when Instadebit is used for a deposit. Some have offered up to 20% match bonus on deposits nothing to be sniffed at! All in all Canadians have been using Instadebit for quite a while now and when you like something you stick with it. Online casinos will continue to use this premium deposit method because everybody likes it. It is that simple if it’s not broken don’t fix it.
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