Instadebit background information

INSTADEBIT Inc. is a Canadian company specialising in the FinTech industry. Their unique platform enables real-time processing of funds directly from your bank account to a merchant account such as an online casino.

The need for safe money processing on the online gambling market is ever evident, and advancements in technology have made way for first-class digital payment methods to dominate the gambling market. For Canadians, there is none as brilliant and tailor-made as Instadebit.

How does it work?

Instadebit is a middle man service solution that brokers funds transfer between your Bank account and Canadian online casinos accepting Instadebit. The wallet is linked to either a credit card or to your bank account for funding. To make fund transfers, you will have to top the wallet up with sufficient funds. This can be done fairly easily.

To apply for an Instadebit account, you can visit their website, but you will only be able to do so if you have a valid Canadian Bank account. Before transacting, you will need to verify your identification. All you need to do is to input the last four digits of your Social Insurance Number along with your date of birth.

Once you have verified your ID, you will be able to transfer funds into your Instadebit account. To deposit at an online casino, you can follow these simple steps:

• Proceed to the casino cashier page.
• Select “Make a deposit”.
• Select Instadebit Canada as your payment method.
• Select the amount you want to deposit.
• Approve the payment.
• The casino will receive immediate confirmation of the deposit and load up your bankroll to start playing.

Cashing out is a very similar process:

• Proceed to the casino cashier page.
• Select “Make a withdrawal/cash-out”.
• Select Instadebit Canada as your payment method.
• Select the amount you want to withdraw.
• Approve the payment. 

Withdrawing Funds from the wallet to your bank account

Your very first withdrawal from Instadebit will require bank verification. This is done by Instadebit depositing a micro deposit into your banking account. Within 3-5 days, it will reflect on your bank statement. Simply verify the amount paid to you on the website. This process will verify that the account is truly yours.

You will now be able to withdraw funds at any time. Please be aware that transfers into your bank account are released immediately but will take 3-5 days to reflect and become available to spend.

Advantages of using Instadebit

1. Instant Deposits

Depositing and withdrawing from Canadian casinos is done in real-time, which means no unnecessary delays are in place. The only delay comes when withdrawing from your wallet to your bank account.

2. Security

It’s always safer to conduct payments via a third-party e-wallet than directly from your bank account. This is because Instadebit does not share your information with the casino at all.

You can trust that your banking info held on the Instadebit servers are extremely safe, as they make use of high-end SSL multi-encryption to keep your data safe.

3. Small Line of Credit for unplanned deposits

Should you be playing a game and feel that you are near to a win and have not got time to top up your Instadebit wallet before carrying on, you are in luck, as with every account, you are given a little line of credit which can be paid back within a few days, together with your next deposit. This is very handy if you incur a depleted wallet at an inopportune time.

4. Supports Domestic Currency

Unlike Paypal that only trades in US Dollars, Instadebit trades in both USD and Canadian Dollars. If you have used USD, you will see that the wallet will separate the cash you have available in the two currencies. You can also fund one currency with the other. This proves very handy.

5. Direct Access to Customer Support

Unlike many other payment solutions, Instadebit allows you direct access to customer support 24/7, should you run into any hassles or just need to inquire about something.

The downside of Instadebit

The only downside evident with this payment facility is the fact that it is only available to Canadians.

Handy user information

Limits

Casinos and banks usually set the limits. Ensure you know the withdrawal and deposit limits at your chosen casino to avoid any hassle in this regard.

Be aware of your transfer limits at your bank when topping up your Instadebit account and adjust them if need be.

Fees

Using Instadebit is very affordable and only costs CAD 1.95 to make a deposit (no matter the amount) and CAD 2 to withdraw money (no matter the amount).

Casinos and banks are at liberty to charge extra fees for using this service, so be sure you know the rates, especially at the casino. This can be determined under the terms and conditions of deposits and withdrawals.

Availability

Instadebit is available only to Canadians who bank with any of the banks in Canada and can be used at most casinos offering their services to Canucks.

Conclusion

It makes a great deal of sense to use a payment service developed by Canadians, as the benefits for the North American market are clearly evident. Look no further than our list of CasinoWow approved online providers to choose from many reputable online casinos accepting Instadebit.