What is it?
There are a lot of different e-wallets on the market to choose from today but it is safe to say that InstaDebit might be one of the few that comes at such a low cost combined with easy registration. Getting an account up and running takes only a few minutes and there is no need to verify your bank information until you are ready to make a withdrawal, making this a very user-friendly and safe Canadian players.
Topping up your balance
You will be using your bank account to add money to your InstaDebit account balance. Making a deposit to your wallet, therefore, requires that you enter your bank information, normally your bank account number and IBAN, but this depends on your jurisdiction. The information is protected by SSL encryption, and you will not need to involve any third parties when sharing your information.
Currently, there are fifteen selected countries that use the feature called Real-Time Deposits and making a top-up only takes a few minutes. For people outside these 15 countries, a normal Bank Transfer needs to be used, meaning you will have to wait 3-5 business days for the funds to arrive in your account. The big plus with InstaDebit is that adding funds to your account is free of charge.
Making a deposit with InstaDebit
Locate an online casino that accepts InstaDebit as a deposit method and make sure you have enough funds in your e-wallet to make your deposit. Then head on over to the cashier, select InstaDebit, enter the amount and approve the transaction. Your funds should become available for your use at the casino more or less instantly.
Making a withdrawal from InstaDebit
When you feel it’s time to withdraw, you will need to verify your bank. InstaDebit makes a very small deposit into your bank account that should show up on your bank statement within 3-5 business days. You will have to locate the amount on your statement and then add that amount as a deposit, and then the verification is complete. Keep in mind that they always approve your withdrawal instantly, but the transaction might take a couple of days to clear with your bank. There is a fee of 1.50 CAD and the amount is the matter the amount you are withdrawing.
Why you should use this service
The main advantage that InstaDebit has to its competitors is that the transfers to and from merchants are completely free. This is rather unusual, but it is great for you as it means you’re not losing any of your funds to fees, you can instead use them as part of your bankroll when playing at the casino.
Another huge advantage that InstaDebit has is that you will be able to withdraw back into it when you win at the casino. This means that you can have just one payment method at the casino for both deposits and withdrawals.
Why InstaDebit might not be for you
For the players located in the countries where Real-Time Deposits are available, InstaDebit is gold. But for anyone outside those countries, it might be a bit discouraging to have to wait up to 5 business days before being able to top up your casino account balance. This means that the method is not ideal for players who want to enjoy spontaneous gambling.