As mentioned on our other online casino on this page about iDebit and our other payment pages, we’re all very familiar with the major financial service providers. The likes of VISA, Maestro and MasterCard have all blazed a path in the iGaming vertical for some time now. Having said that, we’d like to extend our sympathies to credit card services such as MasterCard, that are becoming frozen out of some casino markets.
Anyway, the big credit/debit card companies don’t have it all their own way, particularly when it comes to iGaming. Their dominance has been challenged in recent years by the emergence of online transaction specialists such as Neteller and Skrill. These outfits prove extremely popular among players for two simple reasons. They offer quick processing times and are very easy to use. In addition to these upstarts, the payment sector is also populated by online banking-based services that include the same benefits. Interac and Instadebit are among the most notable examples. Then there’s iDebit.
iDebit is often confused with Instadebit for obvious reasons. But they’re actually different entities. Whereas Instadebit has been around for a while, iDebit is pretty new to the game. Nonetheless, it offers a very similar service. Users can transfer money from their checking or savings account directly to the merchant/online casino of their choice. The only major differences relate to processing times which tend to be faster with iDebit. Currently though, the company only has partnerships with 10 Canadian banks – a far cry from the 200 financial institutions on Instadebit’s books.
If you’d like to use iDebit to transfer funds to an online casino, you can either create an account or sign in as a guest. It’s then a case of initiating the deposit and signing into your bank to approve the payment. The transaction is then processed straight away. Like other similar services, iDebit is essentially a middle-man between the casino and your bank. There’s no need for you to supply detailed personal information – a major advantage over companies like VISA, Maestro and Mastercard.
iDebit is just as safe and secure as any other online transaction service. Transactions are fully- protected by 128-bit encryption. The latest security measures are also in place to protect your funds and private data. In addition, your banking credentials remain confidential and are never stored or shared with merchants. According to the website, the iDebit servers are hosted in a ‘restricted access, state-of-the-art data center’ that can only be accessed by passing biometric palm scanners. And to top it all off security guards patrol the site on a 24/7 basis. So that’s kind of encouraging.
The iDebit website proudly proclaims that there ‘are no hidden fees,’ but then immediately contradicts itself by failing to disclose exactly what they are. According to our sources, the company charges $1.50 per transaction as well as $2 on withdrawals. Transfers between merchants are apparently free of charge.
The trick is to find an online casino that actually accepts iDebit. In fairness, the list is growing by the day. See the operators featured on this page – each one will be more than happy to take your money by way of this helpful and convenient service. In most cases, you simply head over to the cashier page and chose iDebit as your chosen payment method. You should be redirected to a different page where you’ll be able to either log in to your account or choose the guest option. You’ll then be required to select your bank, provide your account information including your ID and password. With any luck, you’ll be able to blow your money as soon as the deposit has been approved, which usually takes a matter of seconds.
As mentioned, there aren’t a whole bunch of operators that currently accept iDebit. But it seems that the company is quite keen on expanding its services so this shouldn’t remain the case for too long.
Should you manage to win money at an online casino, you can also use iDebit to get your hands on the cash. To do so, you’ll have to set up an account with them for the privilege and then select ‘withdraw funds’. Some additional information will be required too. And although your newly-acquired funds will be instantly transferred to iDebit, you’re going to have to wait for up to five business days before the transaction is processed.
Like most online banking-based payment specialists, iDebit offers fast transactions that don’t require you to provide detailed personal information. This is absolutely ideal for casino gamers, especially those who like spending their hard-earned like drunken sailors. The only downside to the service is the lack of coverage. In contrast to Interac, there aren’t that many casinos that accept iDebit deposits.
Anyway, here’s a recap of the advantages and disadvantages of using the iDebit payment option.
iDebit has plenty going for it, particularly when it comes to ease and convenience. The simple deposit process lends itself very well to online casino gaming and should appeal to those who like to gamble using their mobile phones. And for shy and retiring types, there’s not need to provide personal information. Unfortunately, the service is hamstrung by a lack of support from both financial institutions and iGaming operators. With any hope, these shortcomings will be rectified in the not too distant future.