iDebit vs InstaDebit
iDebit vs InstaDebit

iDebit vs InstaDebit

( 1 votes)

One of the major problems faced by Canadian gamblers when they try to play online games from casinos overseas is the mode of payment. Canada is a country with strict gambling laws, and the banks in Canada might not be supportive of gambling at overseas casinos. InstaDebit and iDebit are the two legal eWallet services that allow Canadian players to perform easy online money transactions to and from casino accounts.

Casinos using InstaDebit and iDebit as payment modes are very popular with Canadian gamblers as they are legally supported. They use the best security protocols and have proper contracts with Canadian banks and financial institutions. These e-wallets connect directly with your bank account and make money transactions a very simple and convenient process for the users.

Here is all you need to know about these top e-wallet services in Canada before you start using them.

How to Use InstaDebit?

InstaDebit is a safe payment service available to Canadians. You cannot directly transfer money from your bank account to InstaDebit. Instead, this payment service acts as an intermediary between the casino and the bank to facilitate the money transfer. So, there is no need for the user to give any banking information to do the transaction. The user must register and open an account at InstaDebit to make deposits and to withdraw money at the gambling sites.

Here is how you can make a deposit using InstaDebit.

  1. Select casino sites accepting InstaDebit payments.
  2. From the payments options, choose InstaDebit as the mode of deposit.
  3. Log in to the InstaDebit account using the pop-up window.
  4. Enter the sum you want to transfer and give confirmation.
  5. Within seconds, money will be sent to your online casino account.

This payment service is not a true e-wallet but is more like using a cheque to send money. However, you need to be a Canadian citizen with an account in any Canadian bank or financial institution to use this service. Apart from using for casino payments, your InstaDebit account can be used for purchasing goods from online sites and for using online services. Withdrawing money from casino accounts using this service may require a few days of processing time. When you have an InstaDebit account, you do not have to worry about hidden charges or exorbitant transaction fees.

How to Use iDebit?

It is easy to deposit money to a casino account using iDebit. There is no need for the user to have an iDebit account to deposit money at the casino site selected by them. Your transaction will get processed instantly. But, if you are looking to cash out funds or bonuses from the casino or withdraw your winning money, you need to have a verified iDebit account. This will make transferring money to your bank account in Canada easier.

Here is the process for depositing money to a casino account using an iDebit wallet.

  1. Find the right online casino to play the games.
  2. Navigate to the payment page and click on “deposit” to set the option.
  3. Opt for iDebit as money depositing mode and follow the instructions.
  4. Give the necessary banking login details.
  5. Once the transaction gets verified, the funds get transferred to the casino account of the user immediately.

If you want to create an iDebit account, you can do so by visiting the website of e-wallet. Having an account makes cashing out the win money easy, along with faster checkouts. To use iDebit for casino withdrawals, just opt for iDebit as a withdrawal method in the payments section.

How Do InstaDebit and iDebit Differ?

Though these payment options are fast, there are some differences between the two. The major differences are as follows.

  • The user must have an InstaDebit account to deposit and withdraw money.
  • You should have the required amount you need to transfer to your InstaDebit account to use it for money transfer to the casino account.
  • If you do not have enough money in your InstaDebit account, the user will have to wait for 3-5 business days for the money to appear.
  • Most of the Canadian banks and financial institutions accept InstaDebit and hence convenient for the users.
  • There is minimal or no withdrawal fee for InstaDebit.
  • To use iDebit, you can create an account; however, it is not mandatory to have an account for depositing money.
  • iDebit service is supported only by some banks in Canada like Imperial Bank of Commerce, National Bank, Bank of Montreal, and Royal Bank of Canada, Desjardins, Scotia Bank, TD Canada, and Simplii Financial.
  • Whenever you make withdrawals using iDebit, the user has to pay withdrawal fees of $2.

Advantages of InstaDebit and iDebit

If you are looking for faster ways to play online casino slots or to do sports betting from Canada, without a doubt, InstaDebit and iDebit are the best options to do it. The process of paying the casino sites using a credit card takes longer and is risky. The process is prolonged compared to these e-payment services. Any money transfer method for betting needs to be safe and secure. These services use sophisticated security technology and good data encryption to keep your identity safe and protected. Here are some of the main advantages of using these services for money transactions:

  • They work well for making deposits as well as for withdrawing money from casino accounts and hence popular with the gamers in Canada.
  • These banking methods are very easy and simple to use by any Canadian citizen. All you need to do is create the account if necessary.
  • They are a perfectly safe method for money transfer. As the account information of the user is not shared with anybody, these payment methods are safer than payments using banks.
  • These methods offer more protection from potential hackers as the data remains confidential.
  • Transaction fees, if, any are comparatively lower than bank transfer methods.
  • You don’t have to spend any money to create an account for both services.

Disadvantages of InstaDebit and iDebit

Other than the fact that in some cases, these services may ask for withdrawal fees, there are some other disadvantages to using these payment options for casinos. One huge drawback of iDebit is that the user should be a Canadian resident to be eligible to withdraw money from their casino account. Though the user will be able to deposit money into the casino account, they will not be able to withdraw funds using this option. The user will have to opt for other banking methods to make the withdrawals.

Another disadvantage for iDebit users is many casinos, or gambling sites still do not accept this payment option. But, slowly, the number of gambling sites accepting this payment method is increasing.

In the case of InstaDebit, the drawback is that it is not possible to create an account if the user does not have an account in a Canadian bank. Moreover, you need to provide documents to verify your identity to create the account. Above all, a user is prohibited from using more than one bank account for making payments via InstaDebit. Meaning, you cannot send the payments to more than one bank account even if you win a game and have accounts in several banks.

Frequently Asked Questions about

Who is eligible to use InstaDebit and iDebit?
InstaDebit and iDebit can be used by people having an account in banks that support these payment methods. InstaDebit is supported by all banks and financial institutions in Canada, whereas iDebit is supported by the top eight Canadian banks
How much time does it take to withdraw funds using these methods?
The withdrawal time of these methods will depend mainly on the online casino where you are playing. Usually, it takes 3-5 days to process cash-outs.
Are InstaDebit and iDebit secure payment and withdrawal methods?
Yes, they are safe and secure options for money transfer. You do not have to share your personal or banking information to make payment, and hence your data is secure. Also, these payment services use the latest encryption technology for security and protection.
What InstaDebit and iDebit account information can be changed?
To change account information like email address and password, all you have to do is to log in to your services account and make changes. If you want to make changes to other information like name, bank details, home address, etc., you will have to contact the customer service team of the respective service. You may be asked to provide supporting documents for the same.
What are the benefits of InstaDebit and iDebit?
The major benefit is the security offered by these payment platforms, as you are not revealing any personal details. This is especially useful for gamblers from countries where gambling is illegal. These payment methods are a lot faster than other payment modes like bank transfer or wire transfer so that you can start playing the games without wasting time to get the money deposited at the casino.
What are the most popular casinos in Canadian that use InstaDebit/iDebit?
The most popular Canadian casinos that use these payment methods include Royal Panda, Frank Fred, SIA Live Casino, etc.
Other popular slots