- Editor Rating
- Rated 4 stars
- Audrey Molly
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There is a long list of payment methods when making deposits and withdrawals into and from online casinos. Some casinos offer more than others, and it’s always good to have many choices when it comes to finding the most appropriate one for you. Not only must it be convenient, but fast, and above all, safe. The last thing you want is to be worried about if or when you’ll receive your winnings, and whether your deposited funds are in good hands. Here at CasinoTop, we’ve put together, what we think are the stand out options for Canadian players.
Just about everyone either uses Visa or is very familiar with it, and with good reason. Visa is the most popular choice when it comes to paying for just about anything online or off. Because of this, it has earned them a reputation as being the safest and easiest method to use and almost every online casino accepts it. People know they can trust Visa due to the millions of members around the world and the fact they have serious security features in place, with continual upgrades to ensure they are always protected against fraud.
Visa charges a deposit fee upfront and the withdrawal period is usually 3-5 working days, however, the high level of security and convenience of this payment method more than makes up for it.
PayPal is probably the most well-known e-wallet around, and the good thing is that the majority of online casinos offer this method to its customers. Over 200 million users worldwide find this a secure and easy way to pay for online transactions, and among the many ways you can use PayPal is through a digital wallet, access card, the PayPal app and PayPal.me. If using the digital wallet, you can actually make payments from your mobile device as well as your PC.
PayPal is very simple and fast to use, there is no need to enter any account details and making deposits are usually instant. Setting up a Payal account can be a time-consuming task, and there are always transfer fees involved, even though they are not usually high ones. On the plus side, your PayPal details are not accessible to the casinos or operators, so the level of security is tight.
Neteller is a very highly regarded global payment system, especially in the gaming industry. It has a good reputation for both reliability and security as it is accustomed to dealing with multiple currencies, particularly to and from online casinos. Neteller can be used as a means of making withdrawals and deposits and account top-ups. Safety is also of the utmost importance, so much so, that the Financial Conduct Authority (FCA) endorses and authorizes Neteller’s activities.
Another good point about Neteller is that all your personal banking details are private and not revealed to the online gaming institutions. It has a fast and convenient transaction process for both deposits and withdrawals, and there is even a reward system earning you points for each transaction you make. The only downside is that sometimes a fee of between 1-5% is charged on deposits, but this is not always the case.
Like Visa, Mastercard is a very prominent payment method and it’s also one of the most popular, not only at online casinos but in so many customer-based establishments around the world. It is a straightforward and simple credit/debit card type payment system which is safe and fast. Due to its popularity, you can find Mastercard in many countries around the world, and their customer support makes it a good organization to deal with. The withdrawal time frames are usually very quick, which is definitely another bonus of using Mastercard when depositing online and playing games with real money.
Mastercard has strict privacy rules in place and their security features go to great lengths to prevent fraudulent activities. Unfortunately, Mastercard is not available in as many countries as Visa, and there are also fees charged on transactions but that all depends on the type of Mastercard provider you’re with. All in all, though, we think Mastercard is another top payment option for Canadian players.
Paysafecard is also called “Cash for the Internet” and is available in Canada, however, the method is more widely used in Europe and the UK. It has approximately 27 million Internet users and a user rate of more than 80%, Canada being one of the top 20 “Internet Nations”. The good news for online casino players is that it’s almost always featured as one of their payment options. Paysafecard has many outlets around the globe so it’s quick and easy to use in retail outlets as well. A great plus about Paysafecard is that it can be used with vouchers to fund e-wallets, alternatively, you can use it directly through an online casino of your choice. You are given a pin code containing 16 numbers which makes online shopping a piece of cake!
You do have to purchase the Paysafecard before making a transaction but the fact that it is a prepaid card gives you more control over your spending. When depositing money with Paysafe, it can take a bit of extra time due to the separate pin code that must be used, however, the security features are above and beyond and they also have a mobile app that makes life convenient.
Choosing safe, fast and uncomplicated payment options is of paramount importance, however, it’s also a good idea to ensure each casino you choose to gamble at also has a good reputation. The casino regulations and licences ensure the safety of its players and their funds, so take some time to read the payment method terms and conditions for every online casino you choose to play with, as each one has slightly different fees and deposit and withdrawal pending periods. Once you’ve checked all that out, you can feel free to play and enjoy a stress-free gambling experience.