Top bank transfer casinos in CanadaIf you want to keep things simple when you gamble online, then an electronic bank transfer might be your number one choice. In this guide, we explore the top online casinos with bank transfer payment options. Keep reading to find out where to play and the pros and cons of picking this method.
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Bank and wire transfer
You’ll likely hear the terms bank transfer and wire transfer used interchangeably. The truth is that there’s a technical difference. For a wire, the bank acts as an intermediary, receiving information first and then the money. A bank transfer is a direct link between two bank accounts, where the money moves directly from one to the other.
When it comes to online casinos, you’ll hear both terms, but they usually refer to direct bank transfers. These are also called EFTs or electronic funds transfers. It means the funds leave the casino’s account and are electronically sent to your account.
It’s essential to double-check the casino’s payment terms and those of your bank. It’ll confirm whether your requests will be processed.
Best instant bank transfer accepting casinos - by category
How can you know which is the best casino in Canada where you can use a bank transfer? There are several ways of compiling a list of top bank transfer casinos. We perform comprehensive reviews of sites and rate them. However, there are many aspects that make a casino good.
We could pick out the best casinos and then find out which of them offer electronic transfers. We could also see which sites have the most favourable payment terms for EFTs. We suspect that we’d end up with two different lists.
Instead, we created our list based on your priorities. All these casinos allow deposits and withdrawals via EFT. However, we’ve highlighted what else makes them special, including the best app, fastest payouts, best run platforms, and most entertaining games.
Advantages of online casino sites that accept bank transfers
There are several reasons why you’d choose to deposit via EFT. As you’ll have seen from our list of bank transfer casinos, you can keep your options open. It’s widely accepted, so you won’t have to compromise on your other priorities.
Crucially, it’s reliable and efficient. Just about everyone already has a bank account, so you won’t need to set anything up. Plus, banks are trusted institutions that are regulated. It means security is tight, your funds are protected, and customer support is on hand.
The top three advantages are:
- Fast deposits
- High maximum limits
- Secure transactions
Disadvantages of a bank transfer casino in canada
Bank transfer casinos have their downsides. Most payment methods have a drawback; it’s up to you to work out if it’s something you can live with. Although it’s a widely accepted method, there are still some casinos that don’t offer them.
It’s also worth keeping in mind that the minimum limit for withdrawals might be higher than other methods. Plus, you will be charged a small fee for the transaction. The main disadvantage is the processing time, as withdrawals aren’t instant.
Two key disadvantages are:
- Some casinos charge withdrawal fees for bank transfers
- Withdrawals can take up to five banking days
How to deposit or withdraw with a bank transfer
Depositing and withdrawing at bank transfer casinos is a straightforward process. You’ll probably have made a payment from your account before, and sending it to an online casino is no different.
Check the minimum and maximum limits for deposits and withdrawals before you initiate a transaction. Plus, review the payment terms for any potential fees. When you make a deposit, it should arrive in your account instantly. Withdrawals will typically take three to five business days on average.
The process differs depending on the casino, but following these steps will get you where you need to go.
- Visit your casino, login and head to the cashier
- Choose deposit or withdraw as required
- Choose bank transfer as your method
- Enter the desired amount
- When redirected, enter your details to connect to your bank
- Review the transaction and confirm if it’s correct
- Enter the payment code when you return to the casino site
Alternatives to using bank transfers as online casino payments
If you’d prefer to use something other than an EFT, there are plenty of secure and convenient options available.
These two e-wallets are accepted at most online casinos in Canada. They deliver instant deposits and fast withdrawals, with funds usually arriving the same day. Keep in mind that these payments are sometimes excluded from bonuses, and the e-wallet might charge fees.
PayPal has a reputation as a secure payment method you can use without sharing your bank details with the casino. You can use it for deposits and withdrawals with fast transactions. There aren’t usually any fees involved.
Interac is widely used in Canada. It’s an online interbank network system. In many ways, it’s similar to bank transfers, as it works electronically to send money from one account to another very quickly. Many casinos accept it, and it’s secure.