InstaDebit is a tool that lets you make payments directly from a bank account in Canada to your online casino. This system provides a secure platform to access funds from one’s bank in order to pay for online gaming transactions. Since InstaDebit directly accesses the bank account, it is compared to writing a check, a bit like an electronic check book, or an electronic debit card. The difference between a check and the InstaDebit card is that with a check book, there is a delay in the transfer of funds, whereas with the InstaDebit card, the transaction is completed instantly. Another feature of the InstaDebit card is that it is a free service for the customer; however the merchant has to bear a transaction fee.
How does InstaDebit Work?
The first step towards using an InstaDebit card is to sign up at their website. There are two steps in the sign up process. The customer first provides a name, address, date of birth as well as the last four digits of his/her social insurance number. Once the personal information is entered, the second step is to enter bank account details. After the customer signs up, InstaDebit runs a check of identities and account information via the Canadian banking system and reserves the right to verify information through a credit bureau. InstaDebit uses the TRUSTe Privacy Program to ensure that the customer’s privacy is protected.
When the customer’s sign up process has been duly verified and approved, the InstaDebit account is ready to be used for purchases using the email id and password that was provided. Making a purchase online is very simple once the InstaDebit account is set up. The customer simply clicks on the InstaDebit logo at the vendor’s website, and after entering his/her InstaDebit username and password, selects the amount to be transferred. The selected amount is then instantaneously transferred to the casino’s account. All purchases made using InstaDebit can be viewed on their website by entering the Customer Login section.
When using InstaDebit in an online casino, it is possible to withdraw funds with relative ease. Once funds are withdrawn from the casino account, they are stored in the customer’s InstaDebit Balance account. Money that is present in the InstaDebit account can be used to conduct future casino transactions, make online purchases or can simply be deposited in the customer’s bank account.
InstaDebit Pros and Cons
Despite there being numerous advantages of using an InstaDebit account, there is one big disadvantage, which is that InstaDebit is available only to people from Canada, and only Canadian bank accounts can be registered. Customers from the US are not entertained, and neither are clients from countries other than Canada. Another drawback is that it takes around 5 business days before funds are reflected in the customer’s bank account. Having said this, InstaDebit is probably one of the safest ways to transfer money to online casinos, and the best part is that it is completely free. There are no sign up fees or transaction fees ever. This fact combined with its ease of use, the guaranteed privacy as well as the fact that it is impossible to spend more than is present in the bank account make the InstaDebit card an excellent choice.
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