A huge factor in the speed of your withdrawals is the banking method that you choose. As we mentioned above, a lot depends on technology. Even if a casino is happy to offer instant withdrawals, it only works if the technology allows it. When we compare casinos, we always like to see as many different banking methods as possible. Every player is different, and accepting multiple forms of payment is the best way to ensure that nobody is excluded and both depositing and withdrawing can be as smooth as possible for all.
In this section, we’re running through all the most common banking methods and checking in to see how fast they are.
How to choose a fast casino payment method
There are many factors that go into choosing not only the best casino for banking but also the best banking method. It’s an essential combination that boils down your new casino experience into being either an incredibly fun one or a really negative one.
When all is said and done, there are principally three important factors when it comes to choosing both the casino and the payment method.
- How safe is the payment method and casino?
- How long will it take the casino to process my payment?
- What payment methods can I choose to withdraw my money?
Fastest Casino Payment Methods
“Cyrptos” like Bitcoin are becoming increasingly popular at online casinos, and more and more Canadians are turning to the new technology both for investment and online purchases. Cryptocurrencies are designed to be very fast and very secure. Depositing funds into your account using cryptocurrencies is instant, and the technology also allows instant transfers back into your wallet. In casinos that allow instant cashouts, Bitcoin is often an option.
E-wallets like PayPal, Neteller, and Skrill have been a big part of gambling for years. Using an e-wallet to fund your account provides some extra security and anonymity compared with a bank transaction, and transfers from e-wallets are very fast. Just like Bitcoin, sending and receiving money is processed instantly by your e-wallet, so instant cashouts are possible.
As a rule of thumb, cryptocurrencies and e-wallets are the fastest withdrawal methods when they are available. They also tend to be the cheapest for casinos, which is why they are less likely to have pending periods included on cashouts.
Bank transfers are widely available for both deposits and withdrawals in Canada and around the world. With bank transfers, your funds move directly from your casino account and your bank with no intermediary service involved. The transfers are also generally fairly fast – instant for deposits and on the faster side for withdrawals too.
Practically all casinos accept major debit and credit cards like Visa and Mastercard for deposits, but they are much less widely available for withdrawals. You can find some sites that allow them however, and when available they tend to be fairly fast. It’s common to have to wait a couple of days before the payment hits your bank account, making bank cards maybe not the fastest cashout option, but certainly not the slowest either.
If your online casino has a physical branch or even a partnership with a real casino, you’ll be able to make withdrawals from your account in person. You just need to pay a visit to the cage with your account details and ID, and you’ll get your money in cash right there and then. These withdrawals are instant by their nature, but in truth won’t be an option for the vast majority of online gamblers.
Slow Casino Payment Methods
Wire transfers are a somewhat old school form of money transfers. They have declined in popularity for online gamblers over the decades, as e-wallets and other slicker payment technologies have been developed. However, lots of casinos still offer them as a dependable withdrawal option. Unfortunately, wire transfers tend to be both more expensive and slower than other methods, so we don’t really recommend using them unless you have no other options.
Check via Mail
For more traditional gamblers, the old ways are the best! Most casinos allow you to withdraw by requesting a physical check, which you can then manually deposit into your bank account. Checks are notoriously slow, since you have to wait for them to arrive in the mail.