6 Best e-Wallets in Canada for Online Gambling
e-Wallets offer a quick and easy way to transact with online casinos, offering a more flexible payment method than credit cards and bank transfers.
Time is money and making your transactions as hassle-free as possible is what you expect when you play at your favourite online casino. While there are various payment methods, from bank cards to instant payments and bitcoin, using one of the best e-Wallets in Canada guarantees a quick and effective way to transfer your funds to and from an online casino.
With the rapid growth of online purchasing, e-Wallets have become an integral part of the daily internet transactions landscape. With most local banks having strict regulations in place when it comes to using bank accounts for online gambling, many Canadians have turned to e-Wallets as a more flexible method to transact with online casinos.
e-Wallets are also buffed up with safety and security features, including multi-layered encryption safeguards that keep all personal information safe. It also involves far less papyrology and background checks to open an e-Wallet account than it does to open a regular bank account.
Best e-Wallets in Canada for Online Gambling
While the e-Wallet market segment is dominated by big names such as PayPal and Google Pay, these are not always available for the full spectrum of online gambling transactions.
Here are some of the best e-wallets in Canada that can be used for online gambling:
Interac is used by a large number of Canadian online casino players since it was developed exclusively for the local market. Since all transactions are conducted in Canadian dollars, this payment method doesn’t carry any exchange fees or conversion charges. Interac is well connected with all major banks across Canada, guaranteeing fast processing of all the transactions.
EcoPayz is one of the pioneers of the e-Wallet industry. The company was launched in the UK in 2000 and has become popular globally by offering services such as multilingual support and an iPhone app after it launched its e-Wallet service in 2013. Canadians enjoy using ecoPayz since it’s convenient, easy to use, and offers instant payments.
INSTADEBIT was launched in 2004, focusing primarily on the US and Canadian markets. Each transaction has automatic Canadian dollar conversions, although a minimal fee is in place to cushion against currency risks. INSTADEBIT also has a low minimum transaction amount of CA$10, which makes it the preferred choice for players playing slot games.
Like EcoPayz and Neteller, MuchBetter requires the user to create and fund an account. There are numerous ways Canadians can fund their MuchBetter accounts, including cryptocurrencies, Interac Online, Interac e-Transfer, etc. Once a MuchBetter account has money, it can be used to make deposits or withdrawals from an online casino account.
iDebit is a local Canadian company and is a relative newcomer to the word of eWallets. iDebit doesn’t charge any merchant fees for the players to use it and has a quick approval process and instantaneous payment confirmations. Following the hassle-free signup process, the transactions can be done quickly and securely.
Users can purchase a Paysafecard, which comes in the form of a PIN, at most in-person retailers. PINs can be purchased in set denominations (C$10, C$30, C$50, C$100, C$150 or C$250). Once the user has a PIN, they can make direct purchases using this PIN. Money in My Paysafecard accounts can also be used for payments. Users must use their My Paysafecard account login details to effect a deposit to an online casino.
No matter which payment method you choose, the most crucial factor to look out for is the security of your online transactions. Always be on the lookout for encrypted payment methods before proceeding with any transactions. Using one of the best e-Wallets in Canada listed above will ensure that your payments are fast, secure, and handled by a reputable intermediary.