Looking for a fast and secure online casino payment method? Then you may need to look no further than iDebit, a virtual wallet that is gaining in popularity in Canada! This is partly because iDebit originates from the Canadian-focused payment method known as InstaDebit; in fact, there are plenty of similarities between the two payment methods. In our iDebit casino guide below, we shall look into the advantages and disadvantages of iDebit in more detail, and also introduce you to a number of reliable iDebit casinos that you can join today!
iDebit is a virtual wallet which allows you to make casino deposits and other online purchases directly from your bank account. Unlike some other e-wallets, such as PayPal, you do not even need to have a credit card in order to use iDebit - only a bank account which has partnered up with this provider. iDebit will then serve as an intermediary between your bank and the casino operator.
iDebit comes with plenty of advantages for online casino players. We've listed the most important ones for you below:
There aren't so many disadvantages when it comes to using iDebit. Perhaps the most important factor to note is that whereas withdrawals from an online casino to your iDebit account will be instant, it will take about 5 days for withdrawals from your iDebit account to reach your bank account. Secondly, since last May, funds in your iDebit account must be withdrawn to your bank account within 28 days of receiving them, or re-used for other online purchases within that timeframe. So unlike PayPal, you cannot decide to keep an iDebit balance indefinitely. Thirdly, not all online casinos and sportsbooks accept iDebit, although this method is getting more widely accepted as we speak!
In order to be able to use iDebit for online casino payments, you need to have an online bank account with one of the iDebit supported banks listed below:
If you'd rather not miss out on the best online casino bonuses, then you'll be pleased to learn that depositing with iDebit will not exclude you from getting a bonus or qualifying for a promotion at most online casinos. Whereas certain e-wallets are excluded, this is not the case with iDebit!
Instadebit is iDebit's older sister. The former is more Canadian-focused (you must be a Canadian citizen to open an account), whereas iDebit was created with the intention to become more widely available. Withdrawal fees from an Instadebit and iDebit account to your bank account will be the same, whereas transfers from your bank account to the merchant cost CA$1.95 with Instadebit, as opposed to the slightly lower fee of C$1.50 with iDebit. On the other hand, Instadebit claims that withdrawals back to one's bank account take only up to 2 business days, whereas with iDebit, this may take up to 5 days. What's more, whereas Instadebit is supported by all banks in Canada, so far iDebit supported banks are limited to those 8 listed above.
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