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Best Types of Banking Methods Accepted by Canadian Online Casinos

If you’re Canadian and would like to know how to make safe, secure and fast deposits and withdrawals into and out of your online casino accounts, you’ve come to the right place. Here you’ll find the best and safest ‘Canada-friendly’ online casino banking methods you can use with complete peace of mind.

Our team of highly experienced Canadian online casino reviewers are trained to look out for casinos that meet many important criteria, including the ability to process player funds conveniently, fast and reliably. That’s why we only feature Canadian casinos online you can 100% trust with your deposited playing funds.

Best Banking-Friendly Canada Online Casinos 2020

C$1500Match Bonus with 150 Free Spinson Lucky Lady
  • Cryptocurrency accepted
  • Over 1800 games to play
  • Withdrawals processed in 12 hours
Use Code:FIRSTDEP
C$200Match Bonus
  • Fun retro-Vegas theme
  • INTERAC deposits available
  • Powered by NetEnt, Random Logic and Cassava
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C$1033Match Bonus with 50 Free Spins
  • Exciting Go Vegas section
  • Daily promotions and ongoing bonuses
  • Accepts INTERAC e-Transfer/Online
4
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C$1600Match Bonus with 50 Free Spinson Wild Scarabs
  • Exciting Bonus Wheel option
  • Accepts INTERAC deposits and withdrawals
  • Microgaming-online casino
C$1000Match Bonus
  • Tons of Microgaming games
  • Accepts INTERAC deposits and withdrawals
  • Exciting Bonus Wheel and Promo calendar
C$250Match Bonus with 50 Free Spinson Hotline
  • INTERAC banking options available
  • Powered by 30+ software providers
  • 2000+ games
Use Code:PINACOLADA
C$3500Match Bonus with 200 Free Spinson Starburst
  • Accepts INTERAC deposits and withdrawals
  • Powered by 67 software providers
  • Almost 700 games
C$300Match Bonus with 90 Free Spinson Starburst, Joker Pro, Pyramid Quest for Immortality, Steam Tower, Fruit Shop
  • Accepts INTERAC e-Transfer/Online
  • A huge range of 65 software providers
  • 65 table games to choose from
C$1000Match Bonus with 100 Free Spinson Starburst
  • 1300+ casino games
  • INTERAC deposits available
  • Dedicated Canadian gambling site
C$600Match Bonus with 80 Free Spinson Kingdom of Cash
  • UKGC-licensed and regulated
  • Accepts CAD deposits and withdrawals
  • Over 1000 games

Why is Banking so Important at Canadian Online Casinos?

Firstly, it should be noted that banking methods, facilities and processes are a hugely important factor at all virtual casinos, not just Canadian online casinos.

The reason for this should be obvious; if you intend to play online casino games for real money you need to be able to get your funds in and out of your casino account as fast and hassle-free as possible. If ever you have reason to distrust a particular casino’s banking practices / payment methods, avoid it all costs.

Fortunately we only vet, review and feature premier online casinos that offer a range of tried, trusted and well-known payment options that are irrefutably safe and reputable. In other words you can rest assured that any and all casinos you visit on our recommendation will treat you and your funds with respect.

Types of Banking Methods Accepted by Canadian Online Casinos

The types of banking methods accepted by Canadian-friendly online casinos can vary from site to site.

That said most casinos give Canadian players four main categories or types of payment methods to choose from such as credit cards, prepaid cards/vouchers, eWallets and regular bank transfers. Here’s a brief explanation of each:

Credit Cards

Traditionally credit cards have always been one of the most popular online casino deposit methods because so many people have at least one and they’re so quick and easy to use.

In fact most Canadian online casinos accept VISA, MasterCard and JCB (Japan Credit Bureau) credit and debit cards. That said few if any accept American Express or Diners Club.

Once you’ve signed up at / signed into an Canadian online casino and navigated to its cashier / banking page, simply select the credit card option.

Next enter your 16-digit card number, your name (if required), the card’s expiry date, the card’s security code / CSC and very importantly the amount you want to deposit.

As soon as you submit payment, as long as your card has enough credit / funds your online casino account will be instantly credited with the sum you specified, ready for you to use to play any real money games of your choosing.

You should be aware that while most Canadian online casino sites accept deposits made with VISA or MasterCard cards, some may not allow withdrawals to be made via MasterCard.

If this is not clearly specified on the casino’s banking page, all you have to do is use its Live Chat / email facility to contact a casino support agent for clarification.

eWallets

Short for electronic wallets, eWallets are just that – electronic or virtual - wallets or bank accounts of sort.

These have replaced credit cards as the most popular online casino payment methods because they are so quick and easy to sign up with and are so widely accepted.

The most popular Canada-friendly eWallets are Skrill and Neteller. You can fund an eWallet in a variety of ways including with a credit card, debit card, prepaid card, electronic bank transfer and many other ways.

Then, once your eWallet has been funded you can login to your chosen Canadian casino site, visit its banking page, select your respective eWallet from the list and follow the easy onscreen instructions.

Neteller, for instance, requires you to enter your 12-digit Neteller ID / registered email address, your 6-digit authentication code / secure ID before entering the amount of Canadian Dollars you want to deposit.

As long as you have the funds available in your Neteller account, your deposit will clear in your casino account instantly ready to use.

Skrill usually requires you to enter the amount you want to deposit before you are directed to another form, which you must access by entering your Skrill account email address and password.

Once logged into Skrill, you can complete your funds transfer into your casino account which will reflect in full immediately.

The advantage of using an eWallet to fund Canadian online casino accounts is that those payments are untrackable and untraceable by your regular bank and/or financial institutions, unlike credit card payments and bank transfers.

Prepaid Cards

Prepaid cards have become a very popular online casino payment method in recent years as they are fast and simple to use, and can be acquired by online gambling fans who don’t have a credit card or even a regular bank account.

The big appeal of prepaid cards is that they’re so widely available at physical outlets including petrol stations, news agents, supermarket and kiosks.

All you have to do is give the cashier / operator your cash which (minus a small fee) they’ll load on the respective card for you.

Then once you’re logged into your casino, on the banking page choose your respective prepaid card from the list (like paysafecard, for instance).

Next enter the unique PIN printed on your prepaid card and the amount you want to transfer. As long as your prepaid card has sufficient funds, your online casino account will receive the funds immediately.

A big benefit of using a prepaid cards to fund your virtual casino accounts is you can use most of them to withdrawal your casino funds to, provided you cash out to the same card you used to make a deposit.

Wire Transfers

Wire transfer is still a valid payment option at some Canadian casino sites despite being somewhat outdated

The way this banking option works is you have to physically visit the outlet of your preferred wire transfer firm such as Western Union for example, as long as it is accepted by your respective Canada casino.

Next you must give the cashier cash you want wired to your casino account. Depending on the wire transfer operator, you’ll likely be given a choice of a next day transfer or an instant transfer, the latter obviously being more expensive.

You should be issued with a multi-digit number which you must then enter into the required field on the casino cashier page once you’ve selected wire transfer as a payment option. Your funds should be available in your account instantly.

Bank Transfers

There are still many online casino players in Canada who prefer to fund their casino accounts using a regular bank transfer (provided their bank allows transfers to online gambling accounts).

Although still one of the most reliable and trusted of all online casino banking methods, bank transfers can incur bigger than average fees and are also one of the slowest options.

For instance, deposits using this option can take 2 to 5 business days to clear in your casino account, while withdrawals can take the same amount of time. For this reason bank transfers are our least recommended banking method.

Cryptocurrency

Although relatively few Canadian-friendly online casinos accept digital coins or cryptocurrencies, some do which has some advantages. For instance, deposits and withdrawals in crypto coins are anonymous, irreversible and instant.

In fact this online option one of the fastest and most secure to date. Currently accepted cryptocurrencies include Bitcoin, Litecoin, Dogecoin and Ethereum.

Canadian Casino Banking Methods FAQs Canadian Casino Banking Methods FAQs

Yes absolutely. All online casinos are focused on attracting depositing players because they know that unless their banking options are beyond reproach in terms of ease of use, safety, security and reliability, they’ll lose their existing and prospective players, and risk going out of business.

As a result of our stringent vetting and review process, we stand behind every Canadian casino site reviewed and featured on this site, and the same applies to their respective payment options. Whichever one you choose is up to your personal preference and/or particular financial requirements.

No they don’t. That’s why we recommend before you deposit as a first time player (or claim a no deposit bonus) that you visit a casino’s banking page to see if it’s deposit / withdrawal methods suits your needs. Contact casino support if you can’t find the information.

Yes and no. While it is not legal to own, host or operate a virtual casino within the borders of Canada, it’s not illegal for citizens to frequent and play real money games at offshore owned and operated online casino sites i.e. there are no anti-online gambling laws in place.

Yes, most of them do. Because the Criminal Code of Canada doesn’t currently contain any laws that prohibit citizens of the country from frequenting offshore gambling sites, Canadian banks and other financial institutions have no legal right or basis to stop their clients from gambling online.