Safe Casino Banking Methods
Banking is among the factors that form the backbone of all casino activities. As such, betting websites have implemented safe and convenient deposit and withdrawal options, to improve your gaming experience.
Typically, there is a plethora of casino banking methods available at top betting houses; however, it could be a little challenging, especially for the newbies when it comes to picking the best payment method to use. Discussed here are safe banking methods that Canadian gamblers can use to move funds in and out of their accounts.
Online Casino Banking Safety
For an operator to be termed as safe for transactions, several security details must be met. Fundamentally, a site must have the latest security technologies integrated within its networks such as firewalls, anti-fraud measures, and Secure Socket Layer data encryption (SSL), which secures the transmission of data between the casino's servers and the website. This is the only way to be sure that your transactions and details are not exposed to prying eyes.
It is important to mention that players should always sign up with registered and licensed operators to be on the safe side.
Credit and Debit cards
Debit and credit cards are common casino banking methods among Canadian game sites. Popular brands include Visa, Visa Electron, Discover, Switch, and MasterCard. Note that some may only work one way, so you need to contact customer support before initiating any transaction.
The only downside of this method is the time taken to clear your funds. Usually, they take between 5 to 10 working days. Keep in mind that withdrawals using credit/debit cards attract a small fee.
These are by far the most popular casino banking methods in Canada. E-wallets are mainly preferred by online players because they offer fast payouts, global flexibility and are relatively cheap. To create and account you're only required to sign up, accept the T&Cs, verify your identity and you are all set to start transacting. Popular E-wallets include PayPal, Neteller, Skrill, EcoPayz, and many others. Deposits are instant while withdrawals take a maximum of 25 hours, without additional charges.
They're quickly gaining popularity in Canada and Europe. The most popular prepaid cards that you could use to replenish your account include Entropay and Paysafecard. You just have to load the voucher from your bank or credit/debit cards, and then fund your account to enjoy your favorite games. You can also withdraw using this virtual casino banking option, which takes up to 5 days.
This is also a safe casino banking method for Canadian players. Bank transfer is often preferred by the high rollers for moving large amounts of cash. It's pretty simple - you deposit money directly from your betting house to the bank and vice-versa. The process takes about five working days to clear your funds for use. Note that some banks may have restrictions, which is why you need to talk to your bank and find out if there are any before initiating a transaction. Additionally, you will be charged a fee for all your transactions.
Cryptocurrency is also gaining popularity as a credible casino banking method. An increasing number of online betting operators are embracing this option seeing that it's the future of online casino funding. Mostly, gambling establishments accept Bitcoin and Ethereum cryptocurrencies. It offers instant, safe and anonymous transactions.
Keep in mind that these methods are accepted globally though some countries have restrictions. Therefore, you would do well to read the payment terms and conditions to make an informed decision.