iDebit Casinos with Instant Withdrawal (2024)
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When it comes to depositing with your favorite casino, there are truly a lot of options that you can make use of. However, players in Canada have increasingly begun to rely on iDebit to process their payments. What is this payment method and how can you use it? What are its advantages and disadvantages, compared to the rest of the tools that you'd have access to?
iDebit is an easy and fast means for Canadians to perform online payments without exposing their personal information to the merchant they are depositing with. It has been around for more than a decade now, as the company which provides access to the payment method, called iDebit Payments Inc. was launched in Ontario in 2012. Ever since, it has provided a safe and reliable service to thousands.
But how does this payment processor work? Essentially, iDebit lets you connect your online banking account to the app it has developed. Once that is done, you can move some of the money in your bank account to the iDebit account. Then, you can deposit from either the account you make with the payment provider or the bank account itself. In both cases, though, you would be depositing as if using a credit or debit card.
The advantages to doing so are rather obvious. Firstly, if you have a bank account, but do not use a credit or debit card, you can still deposit with iDebit. That beats performing bank wire transfers, which take too long and can come with staggering fees. Secondly, if you use the app, you will be adding a layer of security to your payments. By concealing your banking information, you are also protecting yourself from data leaks. Even though most casinos nowadays keep in line with high standards of how this kind of player information is collected and stored, anything can happen. Thirdly, another huge advantage with iDebit is the relative lack of fees. Speaking of which, here is more information on them:
iDebit Fees and Processing times
There are not that many fees you would be expected to pay with iDebit. In fact, there are just two of them, summed up in the following table:
|Topping up your iDebit Account
|Transferring funds from bank account directly
|Size of the fee
- There is a CAD 1.5 fee for depositing from your online banking account balance to a merchant. This fee is only applied to funds who are not moved to the iDebit account balance.
- There is also a CAD 2 fee for transferring money between the banking account balance and the iDebit balance.
However, the service is entirely free to use other than that. You can sign up without being required to pay as much as a cent. There is also no fee for performing payments from your iDebit account to the merchant you want to deal with.
We advise the players who might want to deposit with a couple of casinos, or ones who might want to perform several deposits, to transfer the funds they wish to cash in to their iDebit beforehand. That means they will have to pay the 2 CAD fee once, and not have to hassle with paying the 1.5 CAD fee several times. This can also help you keep track of your spending with the casino, if you are concerned about that sort of thing.
On the other hand, if you are a high-roller and want to make one significant deposit to a casino, you are better advised to do so directly from your account. That way, you would stand to pay the lower fee, once, instead of the higher fee.
We should also mention that if you are depositing from an account which is in a certain currency, let's say CAD, to a casino which only accepts USD, there will be transaction fees you need to cover. Even though these are not mentioned on the iDebit website, it states that it used the day's most current exchange rates and takes a very small premium. Still, that is something to keep in mind.
As far as the processing times of this payment provider are concerned, it provides its users with another significant advantage. That is because the payments with iDebit are pretty much instant. If there are any delays, they should not be significant at all, and it should take up to a couple of minutes to clear the payment. Of course, the casino you are cashing in with might have some kind of internal review process for the payments you make, which can cause some delays. The houses which are worth your time will pretty much never have long processing times, though!
iDebit and other payment methods
How does iDebit compare to other means of deposit that casinos accept? See for yourself in the table below:
|No fee for deposits from iDebit balance
|Available in 27 countries
Since iDebit is an unique means of payment, there is no real close comparison to it. Perhaps Interac comes the closest. We have also decided to compare it to AstroPay, which serves the same function, as it allows you to deposit without exposing your real banking information.
- iDebit and Interac are both payment methods which are available for people with Canadian bank accounts. Both of them can be used to perform fast transfers from said accounts. However, there are a couple of differences. For one, when you deposit using Interac, you are going to be participating in the transaction with your bank account's own information. Secondly, the payment needs to be to a bank account in a bank that participates in the Interac system. These are both limitations which iDebit has overcome by allowing the player to deposit via the spoof credit card we mentioned. And also, the recipient of the money does not need to be a Canadian bank account, only the sender needs one. This means the range of casinos you can deposit with using iDebit is possibly greater than the range of houses which accept Interac.
- AstroPay also allows you to deposit with an additional decree of anonymity. The difference between the two payment methods is that your iDebit account can be used instead of a credit or debit card. You can deposit with it directly from your online banking app. On the other hand, if you are a user of AstroPay, you need to top up your account using one of many means of deposit the payment provider accepts. This allows for more flexibility. Next, AstroPay also grants you the ability to create several cards you can deposit with, which might be beneficial if you wish to keep track of your spending by setting them to a specific balance. iDebit has an advantage over AstroPay because it lets you decide whether to use your balance from the app itself or the balance from your bank account to deposit. The other means of payment only lets you deposit using the cards you can make. Also, AstroPay is available in several countries outside of Canada as well.
How to deposit with iDebit?
All you need to get started with this means of payment is an online banking app, from the bank you have an account with. Of course, you will not be able to actually use the means of deposit unless you have an account with one of the supported banks. These institutions include the Bank of Montreal, the Canadian Imperial Bank of Commerce, the Royal Bank of Canada and a couple of others. A full list of them is available on the website of iDebit. Here are step by step instructions to depositing with iDebit:
- First, you need to create an account with iDebit. That can be done quickly on its website. The information you would be asked for is about what you would expect. You need to enter your name and age. Note that you can only use the payment solution if you are 18 years old or more. You also need to provide a valid email address which you then need to verify.
- Next, navigate the website of the casino you wish to cash into, and find the deposits page. From there, select iDebit as a payment method, and enter your account's login details. Note that the payment provider will let you check out as a guest too, which means you don't really need to open an account with it. However, there are benefits to doing so, and you can save up on the fees it charges.
- After you have logged in to iDebit, or have chosen to check out without an account, you will be shown a list of the banks that the payment provider works with. Navigate that list until you find your own bank and enter your account credentials.
- Approve the payment using the online banking feature or app that your bank provides and the transaction will be settled instantly.
- Enjoy your favorite casino games!
What countries is iDebit available in?
At the moment, iDebit is only available to players in Canada. As we said, you need to have an account with a Canadian bank, which has online banking available. Also, you cannot sign up for the service if you are not located in the country. That said, if you are travelling abroad and want to deposit to a casino, you can still do so using iDebit. If you have an account, you can simply log in on the payments page of the casino you have chosen. And if you don't have one, you can check out as a guest.
The only currency that is available with the payment method is the Canadian Dollar. However, if your bank account is in another currency, like the USD, GBP or EUR, you can still deposit with the payment provider. Note that some small transaction fees will be applied, as we explained above.