InstaDebit is one of the online payment solutions used to make purchases or to pay for services. This system allows for an online transaction using a bank account without disclosing banking information. Its objective is to provide better security. Although this system resembles a payment gateway, it also offers the option to make payments, withdrawals, and receive refunds. However, it is not an electronic wallet. Indeed, it cannot be funded through a bank card or a transfer from a bank account.
Online casinos that accept InstaDebit:
The InstaDebit payment method is now present in 30 countries. Its activities started in 2004 in Canada where this system became very popular. It offers users the opportunity to protect themselves against third-party sites with weak protection that can expose them to data theft. To benefit from its services, the first step is to open an account on the InstaDebit website. This online payment method also allows for receiving refunds from a merchant, which can then be used for online purchases.
However, an InstaDebit account holder has the option to transfer funds to their linked bank account. The process to follow is indicated on the platform. In addition to the online transfer and payment service, this payment system linked to a bank account provides users with a complete transaction history. They can also track their bank account from their InstaDebit account.
How to use InstaDebit on online casinos?
In Canada, as in other countries, several online casinos offer InstaDebit as a payment solution. Today, many Canadian players use this payment method. In order to make a deposit at a casino, a player must first open an account on the platform. To do this, they must fill out a form that provides their banking information and personal information.
Once on the online casino, the first step is to go to the dedicated payment page. A list is provided. Simply click on the InstaDebit logo and enter the amount to transfer. The player is then redirected to their account opened on the site to validate the transaction. Once the transaction is approved, the platform takes care of the rest. The player then receives an email informing them of the successful deposit. They can also use this system to make a withdrawal. In this case, the withdrawn funds are deposited into the InstaDebit account and can be used for payments or transferred to a bank account.
The pros and cons of InstaDebit
InstaDebit is a payment solution that offers high security for users. Additionally, to ensure transaction security, the platform has partnered with TRUSTe and VeriSign. The data transmitted is also protected by 128-bit encryption. The ability to track one's bank account through InstaDebit is a major advantage for account holders.
However, InstaDebit has some disadvantages. The limitation on borders is a major drawback. This system is mostly used in Canada. Only users who have an account with one of InstaDebit's partnering banks can use this platform. However, most of these banks are Canadian. Transactions are sometimes longer than those of competitors despite the argument based on security.