Top 5 eWallets for Casinos in Canada

Picking your banking options can be tricky business. Even though they are a reasonably new product, there are more than a few options available when it comes to eWallets available for online casino players. One of the most important things to know when deciding to use an eWallet at online gambling venues is precisely what they are, how they work, and the benefits of using them. eWallets or electronic wallets are online third party wallets that can be used to store funds outside of traditional banks. These wallets allow players from countries all over the world, including Canada, to transfer and convert a host of different currencies and platforms depending on what they require. They are amongst the top 5-rated banking options in the world!

One of the reasons that players in Canada love to use eWallets at online casinos is that they supply players with extra layers of security. While players need to link their Bank account to the electronic wallet, they can rest assured that the information is kept secure and private, and it is not shared with the casino itself. Regulated by third parties such as the Financial Conduct Authority players can also breathe easy knowing their money is safe from theft. One of the biggest bonuses that come with using an eWallet is that all personal information is kept private from the Canadian and international casino and other potentially untrusted sites.

Another great reason for Canadian players to use eWallets is the low fees and costs that are involved. When using traditional banking methods in countries like Canada, players will find that fees quickly rack up. This can make depositing and withdrawing money at Canadian casinos very expensive. All top 5 eWallets mostly negate this issue. The fee that is charged by eWallets is relatively low and is generally only applicable when Canadian players are withdrawing money.

As you can see, these are an excellent option for Canadian online gamblers. There are, however, many different eWallets available on the market to players, so this article will take a look at the Top 5 to help you make the best decision for you and your game.

Top 5 Online Casino eWallets for Payout and Withdrawal.

If you are a player from Canada and you are looking for the top 5 eWallets available for online gambling venues then look no further than these top wallets. Each wallet has its pros and cons, but many can process same day casino payouts. So, to help you decide which one best fits your needs, we have put together an in-depth breakdown of what each product has to offer. This way, armed with all the information you need, you can decide which is best for you!

Interac

Founded in 1984, Interac has been on the scene for longer than online gambling has been around. Originally created to give Canadian citizens access to banking, they have since moved their focus over to providing online casino players with a trustworthy, cheap, and reliable e-Wallet. Here are the advantages and disadvantages of Interac:

The advantages of Interac.

All transactions are instant.
There are no fees involved in deposits of withdrawals.
First Class Security on both Personal and Finacial information.
Only involve themselves with Casinos who offer the highest credibility.

The disadvantages of Interac.

Only available to Canadian Players.
Moving your money from the eWallet to a traditional bank will have Fees attached.
Not all banks will work with Interac.

Ecopayz

Ecopayz is a UK-based company that was established in 2000 as a Fintech company. Working with Mastercard since 2009, they have established a good reputation in the space and have become a favorite amongst online gamblers. Here are the advantages and disadvantages of Ecopayz for players in Canada:

The advantages of Ecopayz.

Ecopayz offers clients a Prepaid debit card.
They support an impressive 46 currencies.
WIth payment systems for shops available, customers can use their money for day to day expenses as well.

The disadvantages of Ecopayz.

The prepaid Debit Card is only available in Europe.
Fees for internal transfers on most account options.

PayPal

Sated in 1998, Paypal is arguably one of the most established and most popular eWallets on the scene for those wanting fast online casino payouts. Used but a whole array of different people for a multitude of different purposes, they have paved the way for electronic payments. Here are the advantages and disadvantages of Paypal:

The advantages of PayPal.

Deposits into a PayPal account clear almost instantly.
Players deposit fees are usually coved by the Casino when using PayPal
PayPal is picky about who they work with and generally only work with trustworthy sites.

The disadvantages of PayPal.

PayPal Charges Fees that you may have to cover.
PayPal is not available to everyone. There are a good number of countries where PayPal cannot be used.
PayPal has been known to freeze accounts at random for no apparent reason.

Idebit Online Casino eWallet

Idebit is another great eWallet for online casino players in Canada. Although they are less known than some of the more popular products, they offer Canadian players a couple of great features that definitely make them a wallet to take a look at. If you are looking for a quick and efficient eWallet that provides some of the fastest transactions and complete anonymity, then Idebit may be the eWallet for you. Here are the advantages and disadvantages of Idebit for players in Canada:

The advantages of Idebit.

Users don't require a bank card.
Idebit provides anonymity.
Transactions are all immediate.

The disadvantages of Idebit.

They charge a fee of $1.50 for transferring money out of the wallet.
The banking method is only available in 30 countries and only works with some banks.

Instadebit

Last on the top 5 list is Instadebit. Getting started in 2003, this eWallet has become incredibly popular amongst players in Canada and American players thanks to the high security and anonymity that the platform provides its users. Here are the advantages and disadvantages of Instadebit:

The advantages of Instadebit.

They use one of the best security systems on the market.
Instadebit provides anonymity.
Transactions are all immediate.;

The disadvantages of Instadebit.

Fees are charged when moving money out of the Wallet.
Takes 3-5 days for withdrawals into bank accounts to be processed.

International e-Wallet Options

Let's say you are out of the country and visiting some European country and want to continue playing online casino games. Well, some of the Canadian e-wallet options may not be present in some European casino markets so you will need an alternative during your trip. One of the best European e-wallet options is Sofort, also known as Pay Now.

For almost two decades, Sofort has provided safe and secure online payment transactions, keeping sensitive data away from third parties. With Sofort players can get fast payments without fees whether they are depositing funds into their online casino account, or they are requesting a withdrawal on their winnings. No matter what transaction they are doing, they will always receive a one-time confirmation code, activating the deposit or withdrawal.

When it comes to transaction speeds, no matter if you are topping off your account or taking out your winnings, the transaction will be complete in less than 24 hours. Sofort also has fewer limitations compared to other payment methods. It allows players to move a minimum amount of money, but also when it comes to large sums, the only max limits will be set by the casino operator.

Pick Your Favourite Casino eWallet and Play

If you are looking for the best eWallet for casinos in Canada , then any one of the above top 5 would make a great pick. At the end of the day, the wallet you go for will depend on what you are looking for and your personal preferences. With all the perks that these top 5 Canadian and international eWallets have to offer, such as security, accessibility, anonymity, and low fees, players would be silly not to give them a chance! Revolutionize the way you gamble at top 5 Canadian casino sites with great, top 5-rated eWallets