iDebit is a means by which you can connect your online banking facility with your chosen online bingo, casino or slots site when you want to make payments or receive money via a withdrawal. By using iDebit, you are creating a ‘buffer’ between your online bank and the bingo or casino site, meaning that you are not required to share sensitive financial information online.
When used, iDebit creates a secure connection between your bank and any merchant that you are trying to send money to or receive money from. This makes it an ideal way to transfer money to and from online bingo and online casino sites.
Why Use iDebit?
You do not need a debit card
iDebit is a direct transfer method. Usually when you send money to a merchant such as an online bingo or casino site, you will need to divulge your debit card details. Not everyone has a debit card, and many people do not wish to share their sensitive financial information online, afraid of identity theft.
With iDebit, you do not even need to have a debit card. All you need is a bank account with a financial services provider that has an online banking facility. When you use iDebit, you indirectly use your online banking services but not in a way that shares your information with any online bingo, casino or slots site.
You do not have to have an iDebit account
Unlike many eWallets, you do not have to sign up to have an iDebit account before you can start to use the service. You can open an iDebit account if you want, but actually there is no need to if you don’t want to. You can still use iDebit at any online bingo or casino site where the service is accepted and useable.
You can only use iDebit with Canadian bank accounts
iDebit is only available to people with Canadian bank accounts. Currently, the only supported banks are as follows:
- Bank of Montreal
- Canadian Imperial Bank of Commerce
- National Bank
- Royal Bank of Canada
- Simplii Financial
- TD Canada Trust
All these banks operate purely in Canada.
iDebit is not as widely accepted as some other eWallet-style payment solutions
For an online casino site or bingo site to accept iDebit as a payment services provider, it must accept Canadian players which not all online casinos do. This means that the number of online bingo sites and casino sites that accept iDebit remains relatively small, but it is a number that is growing and growing. Obliviously, this is only of interest to you if you are based in Canada, and you have access to a Canadian bank account with an online banking facility.
Is iDebit Banking Friendly?
It is very easy to transfer money to an online casino using iDebit, even if you do not have an iDebit account. All you need to do is to go to the site’s cashier page and select iDebit as your chosen payment method. You will also need to specify the bank that you do your banking with. When you okay the transfer, you will need to log into your bank’s online banking account before money can be transferred.
It is perhaps easier to open an iDebit account if you intend to use iDebit for a number of deposits. You can then set up your bank details within iDebit, so the transfer process becomes even smoother. When you make a deposit using iDebit, your funds are transferred almost instantly.
You can only withdraw via iDebit if you have an iDebit account. You will need to set one up (see below) before you can request a withdrawal.
Again, when you want to make a withdrawal via IDebit you simply head to the casino or bingo site’s cashier page and select iDebit as your preferred method. You can then withdraw, and withdrawals take between one and five days depending on the site’s policy.
It cost CA$1.50 to make a payment from online banking, and CA$2.00 to transfer funds from your iDebit balance to your bank account.
Opening an account
To open an iDebit account just head to the iDebit website. Click on the ‘Sign up’ button and fill in the pop-up form. You will also need to supply your address, date of birth and set a password. You can set up your bank account details later.
Our Final Thoughts
For online bingo, slots and casino players in Canada, iDebit is the ideal way to get money into your wagering account from your bank account while keeping your bank account details safe. Once you have set up your bank account with iDeal, you will never have to share them online with another merchant if you do not wish to. You can simply use your iDeal account to transfer and manage your funds.
Although there are fees involved, they are relatively low. When you add this to the security of iDeal, it makes iDeal a perfect (and indeed, ideal) eWallet solution for Canadian customers.