Among the leading concerns people have when gambling online is how to make secure online casino payments. There are many ways to do this of course. But while some are great, others are better avoided. Two of the safest payment methods for Canadians include Interac and eCheck. Both could become the top choice for anyone wanting to utilize safe and fast banking methods. Let’s look at them in detail and find out which is more suited to your needs.
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Accessibility and Popularity
Interac
It’s not a stretch to say that the service surpasses most payment methods in Canada. The company has been around since 1984 and has found its way to households. As it is directly tied to your Canadian bank account, there’s no need to do a lot to transfer money. One downside is that it isn’t available outside the country. That means not all casinos are able to support it. However, you could easily discover casinos that accept Interac at leafletcasino.com and use this payment service. Some of the top platforms you should check out include Wildz Casino, JackpotCity, SpinYoo, SpinCasino, and Caxino. The service is very popular in the country because you don’t have to sign up for a new account if you have a bank account already.
eCheck
An electronic check is still fairly unknown as a viable payment option for gamblers. However, it is gaining more traction now because of its benefits. eChecks work a lot like traditional ones, and they are safe and secure. People who don’t have credit or debit cards may also use electronic checks. There’s no need to put any sensitive information on websites to initiate a deposit. eChecks combine the reliability of traditional checks with the convenience and speed of digital payments. Since they’re not very popular yet, there aren’t many casinos that allow transferring cash via this option. However, you may choose between Party Casino, Ruby Fortune, and Casino Rewards casinos if you wish to utilize eCheck deposits.
Deposits and Withdrawals
Interac
Since the service is connected to your bank account, it allows for easy transactions. Interac casinos enable players to deposit as well as withdraw money to their banks. Canadian players fund their wallets in simple steps:
- Choose the service as the payment option in your casino’s Cashier section.
- Jot down the relevant transfer details.
- Head to your online banking app or website.
- Enter the casino account’s details.
- Initiate the transfer and enjoy!
Withdrawing cash with this method is just as easy. Simply head to the Cashier section, select the appropriate service to withdraw your winnings, enter your account information, and that’s it!
eCheck
eCheck casinos also allow both deposits and withdrawals via the service. The process is longer than some others but the solution offers enough security to make up for it. Here’s how a deposit is made:
- Note down the bank information of the site you wish to play at.
- Head to your bank’s mobile app or get in touch with a teller.
- Ask them to prepare an eCheck based on the information from the casino.
- The money will be sent to the relevant account and you’ll get a receipt.
Modern technologies have made sending checks much quicker and more efficient. The downside of using eChecks to transfer cash is that they’re slower than other payment methods. Withdrawals are more of an issue because eCheck casinos are bound to confirm your identity before issuing your check. The process could take a few days, after which your bank might take 1-3 additional days to process the payment.
Fees and Transaction Limits
Interac
Another benefit of using the service is that it costs low fees. The charges at Interac casinos are usually absorbed by the platforms themselves, so users don’t have to pay extra when depositing or withdrawing funds. This is what makes the Interac payment method attractive. There’s mostly a flat fee of just C$1 per transaction.
As convenient as Interac deposits are, they have limitations. Most banks won’t let you transfer more than C$3,000 per day using the service. The limit wouldn’t be a problem for casual gamblers, more serious players might find Interac e-transfers not enough to move their cash.
eCheck
The method also charges little fees for transactions. Canadian players can expect to pay less than 1% of the amount. An important point to note is that you must ensure having the funds available in your account when the check is sent for clearing. If you spend the money before the casino receives its promised deposit, you could be charged around C$30 as a penalty.
eChecks are more forgiving in this respect having more broad limits. Most online casinos listed on leafletcasino.com that support digital checks have a C$5,000 daily limit. However, the first time you deposit is usually capped at C$500 to C$1,000 for security reasons.
Processing Times
Interac
Interac online casinos benefit from super-quick processing times. Typically, funds are sent from one account to another in less than 30 minutes. This easily beats having to wait for hours or days for the money to reach its destination.
eCheck
Even though technology has made checks digital, they are still slower than other banking solutions when gambling. Your deposits are instant with rare delays up to 1 day. But when withdrawing winnings, you might have to wait for 1-5 business days before receiving your funds.
Security and Safety
Interac
Interac transfers are secured by multiple technologies. The first of these is the utilization of encryption technology to keep user data safe. Payments are only processed if funds are present in your bank. It also employs EMV Chip Technology to minimize any credit card fraud. For those using smartphones, using your fingerprint to enable transactions is also possible. And of course, it’s recommended to set up a security question for added security as well.
eCheck
Electronic checks are highly secure. Unlike paper ones, these cannot go lost in the mail or be sent to someone else by mistake. They also go through the ACH network for additional protection. One of the security measures is the ability to reverse the payment within a certain timeframe. This is great in case you ever suspect fraudulent activities.
Final Word
So, there you have it. Two of the best payment solutions available for online gambling in Canada. Every leading online casino in the country should offer both of these. Interac is great for those who appreciate convenience and lightning-fast speeds. An eCheck casino might be ideal for gamblers who don’t want to share personal details whenever initiating a deposit. There are pros and cons to both Interac and eCheck but the former seems like the better choice simply because of how cheap, quick, and widely accepted it is in the country.