iGaming Payments: iDebit and InstaDebit are Not the Same

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Review: InstaDebit or iDebit for Online Casino Deposits?

If you intend to play online casino games for real money, there are a lot of questions that should be going through your mind. “Which game(s) should I play?” is a common one, but there are some much more important questions to be answered first – namely, which casinos are safe, and how do I securely transfer money in and out of my account?

We’ve covered the first section at length, detailing how to find legitimate online casinos that accept Canadian players. Today, we’re going to talk about two long-time favorites in the Canadian iGaming payments market, how they compare and contrast, and which one works best for financing an internet gambling account – iDebit or InstaDebit?

“Wait… aren’t iGaming payments iDebit and InstaDebit the same thing?”

No, they are not the same thing. Don’t feel bad if you were thought they were. It’s a very common misconception. A lot of people have just assumed over the years that iDebit is an abridged nickname for InstaDebit. They are, in fact, two very different banking methods, with two distinct logos, and three antithetical properties worthy of note.

#1 Supported Banks: InstaDebit works with any and all Canadian banks, whereas iDebit only serves the nation’s seven largest banks (see complete list of iDebit supported banks).

#2 Cost to Deposit: iDebit charges a smaller, flat fee of $1.50 to transfer funds from a bank account to a merchant site (i.e. online casino), whereas iDebit charges a $1.95 fee per bank-to-merchant transaction.

#3 Accepted Currencies: iDebit will facilitate payments in any major currency, giving iGamers a wider variety of international online casinos to choose from. InstaDebit facilitates transfers in CAD and USD only; thus CAD/USD deposits and withdrawals must be supported. Either way, players will be subject to the same-day currency exchange rate.

Otherwise, these two payment methods are virtually mirrors of one another.

Similarities: Both require the user to register a free account and link it to their bank account. Both are available only in Canada, drawing funds directly from the linked bank account for the purpose of making a purchase/deposit. All withdrawals/refunds are sent to the user’s iDebit/InstaDebit account. When this account has funds in it, any purchases up to the available amount will automatically be drawn from this account. Any purchases exceeded the available amount will come entirely from the bank account; split payments are not permitted. Funds in the user’s iDebit or InstaDebit account can be transferred back to the user’s bank for a flat fee of $2.00.

iDebit for Online Casino Deposits

Making an iDebit deposit at online casinos is a simple process. You must first register an iDebit account, link your bank account to it, then verify that the account is yours. This can take anywhere from a minute to a full business day, depending on the speed and efficiency of your bank, but once it’s done, you’ll have instant access 24/7/365.

To make a deposit, visit any reputable online casino that accepts Canadian players and lists iDebit as an eligible payment option. Register an account if you don’t already have one. Next, head to the banking section, select Deposit, choose iDebit, and enter the amount you wish to transfer.

You’ll be directed to the iDebit website to log in and confirm the purchase. Assuming you have sufficient funds in your iDebit or bank account (+$1.50 to cover cost of transfer from bank, if applicable), the funds will appear in your online casino account within moments.

Making a withdrawal is just as easy, but takes up to 3-5 days (after the casino’s 24-48 hour pending period) to appear in your iDebit.

InstaDebit for Online Gambling Payments

The instructions for making an InstaDebit deposit at online casinos are almost exactly the same. First, you’ll need an InstaDebit account; registration is free. Link that to your bank account and verify that it’s yours by following the instructions on the screen.

Choose any distinguished online casino where Canadian players and InstaDebit payments are accepted. Sign up an account if needed, then head over to the Cashier page and choose to Deposit with InstaDebit. Enter the amount you wish to deposit and press continue.

You’ll be directed to the InstaDebit website. Login and confirm the transfer. If enough funds are in your InstaDebit account, they will immediately be moved to your casino account, free of charge. Otherwise, a $1.95 fee will be applied to transfer the funds directly from your bank account (if sufficient), and credited to your online casino balance within moments.