Why it is Best to Play with Canadian Dollars
Those Loonies and Toonies will be in your favour.
When was the last time you traveled outside Canada and made a transaction with another currency on your credit card? You may have been charged extra service and exchange rate charges by your credit card company.
So, how does this relate to online casinos? Lots of these places are located outside Canada, so they use different banking systems. You might have to make a deposit in another currency, which means you’d have to spend extra on exchange fees. There’s also a chance your Canadian dollars won’t be worth as much in one country as in another.
But you won’t have to deal with those hassles when you play at an online Canadian casino with Canadian dollars.
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Direct Deposits in CAD
Everyone at an online Canadian casino wants to make real money online. You shouldn’t have to lose lots of money before you can actually place a bet or take your first spin.
A direct deposit in CAD means you’ll play with Canadian dollars and not American dollars or Euros or whatever else a casino site might use.
The benefits of a direct deposit in CAD are plentiful:
- Easier to deposit or withdraw funds
- No conversion fees
- No exchange rates
- Easier to keep track of your winnings or losses
- You’ll play within a banking system you’re familiar with
Preferred CAD Deposit Methods
How will you deposit funds in CAD? You’ve got plenty of options at an online Canadian casino:
- Interac Online and e-Transfer –Interac e-Transfer and Interac Online are two of Canada’s most popular online fund transfer services.
- UseMyBank – UseMyBank is helpful when completing a deposit without a credit card. With UseMyBank, you’ll complete a deposit by linking to your bank account. No third party accounts are necessary here, plus your funds will be instantly ready.
- Third Party Accounts – You can also use a third party platform like EcoPayz, InstaDebit, or iDebit to fund your account. The options you can use will vary by casino.
- Credit Card – A traditional or prepaid MasterCard or Visa credit card can also work. This option is useful for instant transfer, but be aware of network fees. Since you’re handling this at a Canadian casino with Canadian dollars, the odds of your credit card being rejected will be minimal.
CAD Casinos & Safety
Since you’re keeping your transfers within Canada, the security risk of your transaction will be minimal. You won’t move from one banking system to another, plus the number of parties handling your funds will be less.
But be sure you’re careful when playing at an online CAD casino. Be sure to look at a few things when finding a Canadian casino:
- Deposit security, including encryption measures
- Gaming safety features
- Game quality, including how well each game works to ensure fairness
- Customer service points
- Any knowledge bases or help sections on the casino website
Check out our reviews of Canadian casinos for details on what’s open.
Should You Deposit in CAD or Another Currency?
Some casinos will allow you to deposit funds in another currency. But why would you do that? Playing with CAD is easier, as you won’t be lost in figuring out how much you have when playing with USD or GBP or something else. It’s also less expensive for you to play with CAD.
Pros and Cons of CAD Payments at Canadian Online Casinos
- No currency exchange fees
- You’ll have an easier time tracking how much you’re spending and earning
- No deposit fees in some situations
- Many deposits are instant
- Deposit fees are necessary for some transactions
- It takes a while to complete a CAD withdrawal in some situations
It’s easier to play with Canadian dollars at an online Canadian casino than to play with something else at a casino that isn’t available in Canada. You’ll be safer, plus you won’t spend as much money as you might assume. Check out our website for details on all the Canadian casinos available today.
FAQs about CAD Payments at Online Casinos
- Can you use a credit card to make a CAD payment?
You can use a credit card, but make sure you check on what card networks a casino will support first.
- Are there limits to how many Canadian dollars you can use when paying with CAD?
Each casino has limits on how much you can deposit or withdraw at a time. These limits can vary by site and the payment method you use.
- Are CAD deposits instant?
Since you don’t have to transfer funds from CAD to another currency, you can get your funds added to your account in moments.
- What fees are associated with CAD deposits?
The answer will vary by the online Canadian casino and the specific deposit method you use. You likely won’t incur any fees when using an online money transfer system with CAD, but some fees for credit card transactions may apply. Check the casino website of interest to you to see what charges are involved when getting a deposit ready.