iDebit Review

iDebit LogoThe number of sportsbooks that accept Canadian players is rising. That’s good news of course but it means that players here need to see all their gaming demands met. Among those needs is a requirement for a wide choice of options with which to deposit to and withdraw from that playing account.

As a company that is specific to consumers in Canada, iDebit is the first method of choice for many. More operators are starting to accept iDebit so, in this review, we’ll look at how it all works.

What is iDebit?

For Canadian customers who are already familiar with the separate Instadebit organisation, they will find that iDebit works in exactly the same way. For those that aren’t ‘in the know’, the process is really very simple.

This isn’t a traditional eWallet such as PayPal where funds are stored in your account ready to transfer to merchants or to send to friends and family. Instead, iDebit is linked to your preferred bank account and can pay for goods or services at any retailer that accepts it.

It’s likened to writing a check online but the difference in this case is that none of the consumer’s bank details are disclosed. That extra level of security makes iDebit a popular option for Canadian consumers and the company has built up a strong customer base in a short space of time.

Full details as to how the service works can be found on the iDebit homepage. It’s simple to follow and essentially, it just involves signing up and confirming your personal details before linking your chosen bank account.

One final point to note: Because of the way this service operates you can’t make withdrawals to your iDebit account. This isn’t an eWallet that stores money so, while you can make deposits to your favourite online betting company, you cannot withdraw back the other way.

IDebit and PayPal

At present, there are no options to transfer money between PayPal and iDebit and vice versa. With some traditional eWallets, it is possible to connect the company with PayPal by way of a prepaid debit card but that isn’t the case here.

Idebit only works with banks and traditional financial institutions so there are no transactions between itself and PayPal at the moment.

iDebit in Canada

We’re talking about a Canadian-based company here and that means that iDebit is open to any qualifying resident. It is working hard to cover every financial institution and all relevant banks can currently be linked.

As such, any retailer – Canadian or otherwise – that accepts Idebit as a form of payment, can be accessed by Canada nationals.

iDebit Charges

There is no charge to sign up for an iDebit account so potential customers can get online and get signed up for free in just a few minutes. Fees do, however, apply for any transactions that are made. Remember that these are subject to change in the near future but as of February 2019 when this review was written, they stood at a flat rate of $1.50 CAD for all purchases.

The only other charge that can apply at present is for returns. If, for whatever reason, it is necessary for a retailer to refund a purchase, a charge of $2.00 CAD will be made for that refund to be transferred back into a customer’s bank.

That’s a summary of charges from iDebit’s point of view but do be aware that a small percentage of retailers may add their own fees. This includes sportsbook operators who can add a small cover charge for processing. In many cases the transfers will be free but check under any sections marked ‘payments’ or check with customer services for clarification.