Sportsbooks that accept Canadian customers will often look to provide ewallet services to allow players to fund those accounts. Ewallets and similar services are not a traditional bank but they store money securely for customers to transfer and pay for a range of items online.
The majority of those additional funding options are global operators but with Instadebit, we have a company that is proudly Canadian. That’s undoubtedly a bonus when it comes to deposits and withdrawals but how does Instadebit work and what other points do we need to be aware of?
What is Instadebit?
Instadebit describe themselves on their homepage as a secure bank based payment method that is available to consumers in Canada. This is not an eWallet in the traditional sense as customers cannot transfer funds from their bank into an Instadebit account. Instead, they would find a retailer that accepts the service, click on the Instadebit button as a payment option, and funds would then be taken from the bank to cover the purchase.
This means that bank accounts need to be linked up when account holders complete registration. A simple step by step process is shown on the website under the page marked ‘how it works’. Full instructions are then laid out and this is a very simple way to pay online.
In regards to sportsbooks, the process means that you can only add funds to your account using Instadebit. You cannot withdraw there because the company does not actually store funds in your Instadebit account.
Instadebit to PayPal
Because of the way that Instadebit works, there are no options to transfer directly to and from PayPal. Only traditional banking institutions can be linked to an Instadebit account and Paypal does not fall under that category.
Other, more traditional ewallets, can provide this option but Instadebit simply doesn’t allow for it.
Instadebit in Canada
As a Canadian company, Instadebit is open to any qualifying consumer in Canada. It is specific to the country and can now accept every bank and recognised financial institution here.
In recent times, it has made big inroads into ecommerce and is now being accepted by some big names including Facebook. In terms of gambling companies, Instadebit is accepted at Sport Interaction who are another Canadian based firm and are the first choice for many players in the country. The list of bookmakers who accept Instadebit is growing and this is a fast and flexible way in which to add funds to your account.
Having Instadebit available as a deposit and withdrawal method can be a real positive for Canadian bettors. They are a familiar name in the country and that familiarity leads to trust which is a big bonus when using instadebit betting sites.
But its presence also leads to flexibility and an extra level of security so let’s get straight on and see which instadebit sportsbooks are available.
William Hill is a global brand that has been around for over 50 years so, while they are not specifically Canadian like some names on this list, there is a strong trust element that means we should take them seriously.
They are long established but Hills also move with the times to include great bonus offers and a wide range of sports. That evolution includes the introduction of a number of funding methods with william hill instadebit facilities easily available.
As a Canadian bookmaker, sports interaction instadebit facilities were always likely to be made available. The company sets themselves up as Canada’s favorite sportsbook so they should be backed by Canadian funding options too.
Sports Interaction certainly have a focus on all the favorite North American sports and with great odds included, this sportsbook is the first name on the list for many Canadian bettors.
This is another bookmaker with a strong focus on North American customers and that’s why pinnacle instadebit payments are accepted here. This option is among a number of funding methods and you should find that this is a flexible and excellent home for your betting.
Competitive odds and a wide set of markets exist so Canadian bettors should find everything that they need at Pinnacle.
We’ve made our recommendations above but if you want to use your own instadebit betting site, the process of betting is a simple one. Firstly, make sure that this method is accepted if it’s important for you to have this company as part of your portfolio.
Once that point has been established, simply click on the deposit button and choose instadebit as your option. Type in the amount that you wish to add into your betting account and then click on confirm. It really is that simple – you don’t even need your instadebit login and your payment should clear instantly, ready for you to place a bet.
FAQ for Instadebit
How to Set up an Instadebit Account?
Full details of the registration process can be found on the instadebit canada homepage but once again, this is another simple procedure.
In the first instance, prospective customers will be asked to type in their email address and a chosen password before hitting the sign up button.
From here, other essential personal information will be required including obvious details such as name and address. Finally, once everything has been verified, new customers will then link up their bank accounts to the service.
It really is a simple process which should take up no more than a few minutes of your time.
Which Canadian Banks work with Instadebit?
Instadebit Canada claim that they work with every bank and financial institution within the country.
For most consumers based in the country, this will involve an account with the ‘big five’ – the Bank of Nova Scotia, Bank of Montreal, Royal Bank of Canada, Toronto Dominion and the Canadian Imperial Bank of Commerce. Those names are certainly covered here but, as the company say, instadebit should be fine no matter who you happen to bank with.
Instadebit Deposits, Limits, Fees, Withdrawal Times
Instadebit will, in the first instance, place a spending limit on your account. This will be small at first but it will increase as soon as your bank account has been verified. The final figure may vary depending on your status so there is no set limit that we can confirm at this stage.
In terms of fees, there is no charge for setting up the account but, for every purchase made from that point, $1.95 CAD will be taken from your account. In addition, customers should note that if any refunds are made by a retailer, instadebit will deduct $2.00 CAD.
As far as time limits are concerned, customers should allow between 0 and 2 days for the money to be taken from and also to be returned to an Instadebit account.
Those are the terms as laid down by the financial institution but we do recommend checking with your instadebit betting site just to see whether there are any additional charges or delays that may apply.
Pros and Cons of Using Instadebit
Throughout this instadebit review we have touched on some of the positive aspects of using their service. Firstly, those fees are very competitive and the $1.95 flat charge compares well with similar providers. Of course, it is possible to fund an account for free with a bank’s debit card but the added layer of security that Instadebit provides is a bonus which we’ll mention in a moment.
Remember that $2.00 charge for returns: That could be seen as a downside as many other institutions will not make a charge for refunds going back into your account.
The other big positive is that security element: When using instadebit sportsbooks, your account details are not shared with the final retailer and this aspect adds another benefit to what is, already, a very safe service.
Then there is the question of flexibility and ease of use. Overall, while we have touched on some very minor downsides in this instadebit review, the message is a positive one and we can strongly recommend them to Canadian bettors.