A Brief History of Instadebit
InstaDebit is a digital payment service that was established in 2003 and is currently owned by InstaDebit International Solutions Ltd., a corporation with its roots in Canada. The company has since moved its headquarters to Malta, although they still retain an office in Toronto.
Since its launch, Instadebit has quickly established itself as the payment option of choice for a significant number of Canadian casino players, having garnered a reputation for being both swift and secure.
Using Instadebit in Canada
As an instant banking service, Instadebit serves as a third-party mediator that facilitates payments between your Canadian bank account and any online merchant you want to transact with.
Depositing
When making any payment through Instadebit, you transfer the money for the payment from your bank to Instadebit, who will process the rest of the transaction. To get this done, you will need to register an account with the service.
The signup process for an Instadebit account is completely free and relatively painless—all it needs are the basic credentials needed by any online service account, as well as the details from the bank account you will connect it to.
Once this is done, Instadebit will make a test deposit of about C$2.00 into your bank account over the following week to verify that your bank details are correct. You can then confirm the verification and officially connect your bank account to your Instadebit account.
Withdrawing
Instadebit can also receive money from other sources; however, it is not an e-wallet like PayPal or Neteller despite it being technically able to hold funds. Any funds that are received by your Instadebit account are meant to go to either your bank account or to whatever you are paying for soon after.
How to Use Instadebit at an Online Casino
A decent number of online casinos accept Instadebit deposits and withdrawals. However, keep in mind that it’s not an e-wallet. So funds can’t be transferred into your InstaDebit account. Instead, you can transfer funds to your online casino of choice by simply selecting it as an option. You’ll then need to enter your bank account details along with your preferred sum. If all goes to plan, your account will be funded within a matter of seconds, which means you’ll be able to blow it all on any game you choose!
Can I Withdraw my Winnings?
Why yes you can! Withdrawals are made using a very similar process but with one notable exception – it usually takes a lot longer. If you’re lucky enough to win cash playing online casino games, head over to your account section, choose Instadebit as the withdrawal method and input the details of your bank account. You should receive your winnings within five business days.
Is Instadebit Safe to Use?
Yes, Instadebit is completely safe to use. Your personal information is protected and not shared with the online casinos or any other merchants for that matter. User privacy as well as all transactions are also monitored and regulated by trusted certification firms such as VeriSign and TRUSTe. And needless to say, communications between you and Instadebit are secured with 128-bit encryption which will keep bad actors from getting their hands on your cash.
Discretion for Profligates
In addition, the company uses an identity verification system that further shields your identity. All you’ve got to provide is a birth date and the last four digits of your social insurance number. Should you decide to spend a small fortune at an online casino (we hope that you don’t) you can be safe in the knowledge that your mindless profligacy won’t be documented on your bank statement. Instead, you’ll see a reference to INSTADEBIT. We’re not entirely sure if this is a pro or a con, all things considered.
Are There Extra Fees?
Unfortunately, yes. This is the price one must pay for convenience. Every time you make a deposit at an Instadebit casino, you’ll have to pay $1.95. A $2.00 charge is also applied to any withdrawal you decide to action. Some operators are also quite fond of imposing their own charges for players who choose to use Instadebit – so be sure to check the site’s terms and conditions before making use of the service.
Do All Online Casinos Work with Instadebit?
Alas, no. Instadebit is not universally accepted by online casinos. In contrast to services such as PayPal, it isn’t yet global in scale. This isn’t to say that you won’t find any casinos that aren’t eager to take your money via this convenient and handy service. See the ones featured on this page – all are trusted operators who will be more than happy to drain your bank account at a moment’s notice.
How Does Instadebit Stack up Against Specialist Online Transaction Services?
It stacks up very well thanks to fast processing times and, that word again, convenience. But as with Interac, Instadebit isn’t anywhere near as widespread as some of the new online transactions companies such as Neteller, PayPal or Skrill. Although it’s available in some 30 countries around the word, only a handful of institutions within those countries accept the service. And that’s really one of its main shortcomings at present.
Customer Support
Happily, you’ll be able to contact Instadebit easily, should the wheels fall off at any given moment. The company provides a dedicated helpline, live chat functionality and an email address. Help is at hand on a 24 hour basis. There’s also a rather comprehensive FAQ section that covers areas relating to account creation and management, payments, currencies and foreign exchange and bank verification.
Pros and Cons of Instadebit Casinos
Pros
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Accepts all Canadian banks:
Being a Canadian firm itself, Instadebit accounts are supported by all banks in Canada; as such, you shouldn’t run into any problems moving funds into or out of your account.
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Protects banking details:
Since you are making your online casino payments from your Instadebit account rather than directly from your bank, Instadebit transactions hide your sensitive banking details away from any prying eyes at the online casinos you play at.
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Fast deposits:
Instadebit is capable of processing deposits on the same day that you make said deposit requests, making them one of the fastest payment methods for online casino deposits.
Cons
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Has transaction fees
Unlike other online payment methods, Instadebit charges transaction fees for both deposits and withdrawals made through your Instadebit account. Deposits into your Instadebit cost C$1.95 per transaction while withdrawals charge C$2.00.
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Requires bank account:
Since Instadebit takes funds from a Canadian bank account, you will need to have such a bank account in order to use Instadebit to fund your online casino account. If you don’t have a bank account or otherwise don’t want to use it for your gambling payments, you should consider other options.
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Slow withdrawals:
Although Instadebit is able to process deposits extremely quickly, we can’t say the same for withdrawals—Instadebit themselves estimate funds from withdrawal requests to reach your bank account in 1 to 5 business days, although our experience has found that to trend towards later rather than sooner.
Should you use Instadebit for online casino payments?
Despite having some nitpicks around their processing speed and other small details, Instadebit has more than proven itself to be a reliable payment processor for any Canadian gambler. If you are comfortable with using your bank funds for your online gambling sessions, using Instadebit will make those payments faster and safer.
Our Final Thoughts
Instadebit has a lot to offer to Canadian gamblers in terms of features and reliability. If you have been looking to try an instant banking service for your online casino payments, Instadebit is about a good an option as any.
Instadebit Casino FAQs
Is Instadebit available in Canada?
Yes, the Instadebit service is available in Canada, which should be expected as the company was founded and holds one of their regional headquarters here.
Can I use Instadebit at online casinos?
Yes, you can use Instadebit at online casinos that accept it as a payment method—you can find more info about these casinos by taking a look at our recommendations for the best Instadebit casinos Canada.
How do I cash out with Instadebit?
You can cash out with Instadebit the same way you would any normal online casino payment method—simply log in to your online casino account and initiate a withdrawal request through your account dashboard.
