InstaDebit Ontario Quick Guide and Review
Today’s new iGamers often have many questions, especially about managing their money. A common concern is finding the best way to deposit and withdraw funds from an online gambling account. If our domain name didn’t give it away, we generally prefer eCheck deposits. But they’re not always available and may not be the best option for everyone.
Best Canadian Instadebit Casinos
- Instadebit
- Interac ©
- Interac e-Transfer by Email
- Instant eChecks
- www.grandmondialcasino.com
- Casino Rewards
- Yes, 4 Types
- Yes
- Instadebit
- Interac e-Transfer®
- eWallets
- eCheck
- www.captaincooks.com
- Casino Rewards
- Yes, 2 Types
- Yes
It’s possible that InstaDebit could be the right answer for you – it is indeed very similar to eCheck as a payment gateway. The only difference is it adds a third-party intermediary between your bank account and your chosen iGaming platform. Transactions are more secure this way and you don’t directly expose your bank details. It all depends on your expectations and needs. We all want the same things, really.
We’re all looking for peace of mind, knowing that our sensitive personal and financial information will be safe and secure. Speed is a priority as well. Instant deposits mean we can start betting right away. Withdrawals are rarely instant, but the quicker the better! Accessibility, cost efficiency, ease of use, the list goes on.
There are a lot of payment methods available in Ontario that promise to deliver all this and more. Few of them live up to all of the desirable traits we demand. In the following text, we’re going to put InstaDebit payments under the microscope. You can decide for yourself whether it’s the right payment solution for you.
Are there any InstaDebit Casinos in Ontario?
Yes! In fact, the majority of iGO-licensed casinos, sportsbooks and poker rooms accept InstaDebit payments. As long-time iGamers ourselves, we recommended the following InstaDebit casino websites.
- Grand Mondial Casino
- Captain Cooks Casino
- Jackpot City
- Royal Vegas
- Ruby Fortune
- Spin Casino
What is InstaDebit : Facts & Features
InstaDebit was established in Toronto, Ontario in March 2003. For years, the payment processing solution was exclusive to Canada. More recently, expansions have seen InstaDebit access spread to 32 countries worldwide. Unlike most of its competitors, InstaDebit actually specializes in the fast-paced facilitation of online gambling payments.
How does InstaDebit work?
InstaDebit is a direct banking payment method. Deposits come straight from your bank, similar to traditional bank transfers. The primary difference is that InstaDebit payments are facilitated by a third party. That extra link in the chain provides an added layer of protection, making it far more secure than standard online banking.
How is InstaDebit so secure?
Instead of exposing all of your banking details to every online casino, sportsbook, poker room, or any other commercial website you do business with, you can simply share those details one time, with one service – InstaDebit. The payment provider uses the highest data encryption methodologies to keep that information secure, so you never have to worry about your bank credentials being compromised.
That’s great for deposits, but what about InstaDebit withdrawals?
As an iGaming industry leader, InstaDebit knows that Canadian banks have a tendency to reject incoming bank transfers from known gambling websites. To resolve this issue, the company integrates an eWallet service for InstaDebit withdrawal requests. Casino cashouts are sent to your InstaDebit wallet, where they can then be transferred to any bank account in Canada.
Are InstaDebit and iDebit the same thing?
No. This is a long-standing misconception derived largely from the two having a similar business platform, combined with ill-informed users who simply assumed iDebit was short for InstaDebit. It’s not. They are both Canadian-based, third-party facilitators of bank-based payments, but they are not one and the same.
How InstaDebit Casino Payments Work
With InstaDebit, online bettors can make payments directly from their Canadian bank account. There’s no need to share personal or financial info with the gambling website. Bank details stay securely between the bank and user, without divulging any sensitive info to the merchant site. InstaDebit is a form of electronic funds transfer.
Although you will need to register an InstaDebit account, the process is quick and painless. There’s no need to deposit funds into your InstaDebit account or wallet to use the service. InstaDebit’s secure network utilizes IdentifyTM protocol to verify your identity and bank account details. Once verified, all you need to make a deposit is to log into InstaDebit and confirm the payment details.
Okay, what is this gonna cost me?
About $2 per transfer, in or out. That’s not a bad price considering the peace of mind you get in today’s market. Let’s take a look at the fee breakdown, and what services will or won’t cost you anything.
| Description | Fee |
| Open an account | Free |
| Link a bank account | Free |
| Send money, bank to merchant | $1.95 |
| Send money, InstaDebit to merchat | Free |
| Receive money via InstaDebit | Free |
| Transfer money, InstaDebit to bank | $2.00 |
| Currency conversion (e.g. USD to CAD) | TBD* |
How to Set Up an InstaDebit Account
There are two quick ways to set up a new InstaDebit account. One option is to visit the InstaDebit website and pre-register. Alternatively, you can sign up through the online casino you want to deposit at by choosing InstaDebit as your preferred payment option. We’ll walk you briefly through each of these methods.
Opening an Account through InstaDebit
- From the InstaDebit website, choose Log In / Sign Up from the top menu.
- Scroll down below the Login box to where it says, “Don’t have an account?“, and press Sign Up.
- Fill in the required information fields. Input your First and Last Name, choose and confirm a Password, and enter your Postal Code. Checkmark the Captcha box (completing the image-matching task if required), then press Next.
- On this next page, more information is required. Provide your full Street Address, the Last Four Digits of your SIN, and Date of Birth. Enter these then press Next again.
- In this last step, you’ll need to verify your banking details. In order to move money in and out of your bank account, InstaDebit will need the Branch Number, Institution Number, and your Bank Account Number. See the image below for help finding these digits on a paper cheque. Enter the info and press Add Account.
- The next page welcomes you to InstaDebit and informs you of the bank account verification process (see Step 7). You’ll also receive an email with a verification link. Open it and press the verification link to confirm your email address.
- InstaDebit will deposit a minuscule amount (a few cents) into your bank account. It takes 1-3 business days to appear. Once it arrives, log into your InstaDebit account and enter your received amount. This will verify your bank account, granting access to InstaDebit deposits and withdrawals.
Important: You do not have to wait for bank account verification to make an InstaDebit deposit. You will be granted a small transaction limit to get you started. Once your bank account is verified, your transaction limits will increase significantly.
How to Open an InstaDebit Account via Online Casinos
- Log in to the online gaming account.
- Navigate to the Banking section and select Deposit.
- Choose an amount to deposit and select InstaDebit as your method of payment.
- When redirected to the InstaDebit login page, scroll down below the Login box to where it says, “Don’t have an account?”, and press Sign Up.
- Follow Steps 3-7 in the above section, ‘Opening an Account through InstaDebit‘.
Making a Deposit with InstaDebit
Once you have an InstaDebit account, deposits are super convenient and always instant. All you need is your login info to confirm the payment. You won’t need to provide any extra details to the online gambling website.
Follow these basic steps to deposit with InstaDebit.
- From the online casino’s Banking page, choose to make a Deposit.
- Enter the Amount you wish to transfer.
- Select InstaDebit as your method of payment. You will be redirected to the InstaDebit login page.
- Log in, review the payment details, and if all looks right, press the button to Confirm the deposit.
- InstaDebit will immediately set the transfer in motion, sending the cash from your bank to the betting site (assuming the necessary funds are available in your account). Although bank transfers generally take a few days to arrive, you’ll have access to that money instantly in your gaming account. The casino knows the funds are coming, so they have no reason to make you wait.
InstaDebit Withdrawals
Your InstaDebit account acts as a digital wallet for processing online casino cashouts. When you request a withdrawal to InstaDebit, the funds do not go straight back to the bank from which your deposits come. Instead, they are sent to your InstaDebit wallet. From there, you can use them to make additional purchases and deposits or send them on to your bank.
Transferring money from InstaDebit to your bank isn’t instant. It takes 1-3 business days for that cash to reflect in your bank account. Also note that you can only cashout with InstaDebit if you’ve successfully deposited with it at least once, thus verifying the account.
How to Initiate an InstaDebit Withdrawal
- From the online casino’s Banking page, choose to make a Withdrawal.
- Enter the Amount you wish to cash out.
- Select InstaDebit as your method of payment.
That’s all it takes. Once the casino approves the payout, the funds should appear in your InstaDebit wallet within a few moments.
Instadebit Key Facts and Figures
- Company: InstaDebit is a private company, founded on March 5, 2003, with fewer than 50 employees.
- International Presence: InstaDebit is now available in over 32 countries, allowing users from five different continents to pay securely without sharing their banking details with merchants.
- Global Offices: While headquartered in Toronto, InstaDebit has also established an international branch in Malta to support its global operations.
- Market Penetration: The service is widely used across various online platforms, including approximately 290 casinos that accept InstaDebit as a payment method, according to lcb.org.
- Compliance with Security Standards: InstaDebit adheres to security criteria set by organizations like the American Institute of CPA’s Service Organization, ensuring that its security practices meet high industry standards
Entering the Ontario iGaming Market
InstaDebit has effectively entered the Ontario iGaming market, which launched in April 2022. Its ability to handle the region’s regulatory requirements was key to its growth and maintaining its services for local users. As we said, there are now dozens of InstaDebit casinos, so they have succeeded well in their task.
Compliance with Ontario Regulations
- Regulatory Framework: InstaDebit follows Ontario’s iGaming standards set by the Alcohol and Gaming Commission of Ontario (AGCO) and iGaming Ontario (iGO), focusing on consumer protection and responsible gaming.
- AML and KYC Requirements: The company meets Know Your Customer (KYC) and anti-money laundering (AML) regulations, ensuring secure transactions by verifying user identities to prevent fraud.
Strategic Positioning in Ontario
- Partnerships with Gaming Platforms: InstaDebit is integrated with many online gaming platforms in Ontario. See our merchant list above, but key players are Grand Mondial, Captain Cooks, and Spin Casino. InstaDebit has now become a commodity, offering players a secure payment option through partnerships with major operators.
Conclusion
Both eCheck and InstaDebit offer unique advantages for online transactions. eCheck is ideal for users who prefer a direct link to their bank accounts. These users don’t want intermediary involvement; they want to cut out the middleman and limit the process at all costs. In contrast, InstaDebit is better suited for those prioritizing security and privacy. The choice between the two depends largely on individual preferences regarding speed, security, and ease of use. Each method has its strengths. In any case, InstaDebit is well poised to take advantage of the booming Ontario market, and we highly recommend it as an eCheck alternative.
