Visa as a deposit method in Canada
Most banks in Canada would issue a VISA card when you are opening an account, and you will probably try to use this to deposit into your casino account. Your bank could issue you a debit, a credit or a pre-paid VISA cards as well. However, you might not succeed with them when trying to use it at an online casino.
If you are using a VISA card issued by a US-based bank, your transaction might not go through. Because of legislation in the USA in 2006, banks like Chase aren't allowed to process payments to international gambling sites.
The best advice we can give is try your VISA card and if it doesn’t work, open a Interac, iDebit or Instadebit account for your online transactions.
VISA is accepted in more than 150 countries, both online and offline. Still, banks can limit transactions to certain websites, such as online casinos, like how banks in the UK started to stop credit card transactions before it became a regulation that now applies to all UK banks.
You can get VISA cards issued to you by e-wallet providers as well, and you can use these in online Canadian casinos
. Pre-paid cards help keep your online casino spend at a level, and you get added security by not sharing your banking details with any third party.
Some casinos will accept your VISA credit card, but you need to be cautious with it. You can pay high-interest rates if you don't pay back the money on time, and using a credit card will make you tempted to use more money than you have. We suggest never to gamble with a credit card, even if the casino allows you to.
Most online Canadian casinos accept VISA cards as a deposit method
Using VISA to withdraw from an online casino in Canada
When you want to withdraw your winnings from a casino, the available withdrawal options will depend on your used deposit method. If you used your VISA card to deposit, you would need to use it for withdrawal.
You will receive the money to your account in a few days. However, you need to note, that the following Canadian banks do not accept funds from online casinos:
- Royal Bank of Canada
- Canadian Imperial Bank of Commerce
- TD Canada Trust
- Bank of Nova Scotia
- Tangerine Bank
If you run into this issue, you usually have two option – depending on your online casino. You can use a different bank account and provide identification proving it’s your account or open an iDebit or InstaDebit account, make a minimum deposit and use it for withdrawal after.
Safety measures for web-based deposits
VISA offers some of the safest cards available. Their fraud detection system is world-class, and if you've been charged for something you didn't purchase, they will refund you. VISA's fraud detection system might try to block your deposits towards online casinos, but it is in your interest to make sure you are the one trying to make the deposit.
While VISA is the most used online payment method, it isn't necessarily the best banking solution in Canadian casinos. Here is a list of pros and cons for using VISA in online casinos:
- Fast and easy to deposit
- Safe and secure banking method
- Used globally and accepted by most online casinos and other vendors
- Outstanding customer service
- Need to share your banking details with the casino
- Transactions are displayed on your credit or debit card statements
- Transaction charges can be high, additional charges might apply if you use credit cards
- Withdrawal can take up to 3 day
- Your transactions can be blocked by your bank