Overview
Instadebit is one of the more prevalent payment solutions across the Canada-facing sports betting platforms and online casinos. This is a secure payment option punters can use in order to execute transactions straight from the balance of their bank account.
Instadebit was introduced back in 2004, and today, the bank-based payment method is available on the websites of a huge number of merchants, online casinos, and sports betting platforms.
The ease of use of the payment method is what makes so many Canadian punters insist on using it for gambling-related transactions. Instadebit has what it takes to turn into punters’ favorite payment platform as it allows them to top up their gaming accounts and draw out their winnings with the click of a mouse and in the shortest possible time. What makes many sports bettors prefer Instadebit over most other online banking-based payment processors is precisely the fact that it doubles as a cashout method.
Yet, this is by no means the only reason why more and more gambling aficionados become interested in the payment method. Transactions through Instadebit are wrapped up conveniently and quickly, and most of all, with the greatest possible safety because none of the punters’ banking details will ever be exposed to the gaming operator. All these features turn Instadebit into an excellent choice for avid sports betting fans.
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How Does Instadebit Work
Making payments through Instadebit is not at the least a thing, and what the payment processor does is to provide the secure gateway, which is needed in order for transactions to be wrapped up between the bank of punters and the bank of the gaming operator. As is the case with the other such payment methods, Instadebit is the middleman between the customer’s bank and the bank of the merchant, or in this case, the gaming operator.
Creating an Instadebit Account
What is needed in order for avid sports bettors to start using Instadebit for their gambling-related transactions is to open a bank account at one of the Canadian banks. Please note that using Instadebit is not possible if one is under the age of 18.
While creating their Instadebit account, gambling aficionados will be asked to provide some basic personal information like their name, email address, address, their date of birth, along with the last four digits of their SIN, and their banking details. Going through the verification process is not possible if punters decide not to provide the last four digits of their SIN.
Before punters start using Instadebit for gambling-related transactions, they should be aware that the payment processor does not work in the same way as digital wallets. This means that it is not possible to move funds from their bank account directly into their Instadebit account.
While creating their Intstadebit account, gambling aficionados will also be asked to provide their account number, the institution number, as well as their bank transit number. An important thing to keep in mind is that, currently, Instadebit only allows for payments in CAD and USD.
For better convenience, gambling enthusiasts will not be required to pre-register an account in order to start making payments through Instadebit. Instead, punters can simply open an account when they are about to make their first transaction and make use of it on the spot.
Bank Account Verification
Once punters create an Instadebit account, they will need to abide by lower transaction limits. In order to benefit from higher spending limits, punters need to verify their bank accounts. This process is exceptionally straightforward, and once sports bettors register an account, they should check their bank statement during the next three to five working days for a small deposit. The amount Instadebit will add to the bank account of punters will be less than $2. In order for punters to verify their bank account and benefit from higher spending limits, they should know how much exactly Instadebit has transferred to their balance.
When the amount appears in their bank statement, gambling enthusiasts need to log into their Instadebit account and follow the link, which appears after they lick or tap on “Verify My Bank Account.”
If the amount that was deposited does not appear in their bank statement after seven days, punters need to log into their account and make sure that they have entered all their banking details correctly.
Making a Deposit with Instadebit
Instadebit is a great option for punters who want to benefit from hassle-free deposits conducted in real time. Handling their payments through Instadebit is exceptionally straightforward, and once gambling enthusiasts have found a bookie, which accepts payments through it, they need to log into their gaming account and pick the processor from the roster of options.
If they have not yet registered for an Instadebit account, punters will be allowed to do so in next to no time using the New User Checkout button. Yet, if they have already been using Instadebit for a while, they need to log into their account using their email address and password, inspect the transaction information, and authorize the payment.
Punters will not be required to wait in order to start using the funds they have transferred to their gaming balance, as they can be accessed in a matter of a few minutes after the transaction is authorized.
Withdrawing Funds to Instadebit
The main reason why so many punters are interested in using Instadebit for gambling-related transactions is that normally, they can resort to it also when withdrawing their winnings. Yet, it is important to note that not all bookmakers allow their users to draw their winnings out of their gaming balance through Instadebit and instead prompt them to go for bank transfer.
If Instadebit doubles as a cashout option, however, punters can be sure that getting their winnings off their gaming account will be a breeze. When punters are ready to claim their winnings, they need to visit the cashier or banking section of their bookie of choice. There, they will be able to see their balance, which is available for a withdrawal, as well as the payment methods they can make use of.
Once they select Instadebit and enter the amount they want to withdraw from their gaming balance, punters just need to confirm the payment. What they should bear in mind, however, is that their winnings will not be instantly credited to their Instadebit account. This is because bookies review all cashout requests, and normally, this process takes between 24 and 72 hours to complete. After this, punters’ winnings will be released, and it might take between three to five days until their winnings reach their Instadebit account.
After this, gambling enthusiasts can use the funds in their Instadebit account to purchase goods or withdraw them to their bank account. Normally, it takes up to five working days until your funds are transferred to your bank account.
Instadebit Fees
The additional costs and fees the usage of punters’ payment method of choice are undoubtedly among the things they should take their time to inquire into in advance. Many sports bettors are up to using Instadebit, and for a reason, as the extra charges they face are on the lower end of the spectrum. Most gaming operators that facilitate deposits and withdrawals through Instadebit tend not to charge extra fees on transactions executed through the payment processor, which is one more shot in the arm for punters to start using it.
No extra fees are applied when gambling enthusiasts are creating their Instadebit accounts. That being said, when paying for goods from their bank account, there will be an additional fee of $1.95. When the money is drawn out of their Instadebit balance, however, there will no be extra costs.
Instadebit does not charge fees when a merchant issues a refund and punters decide to move these funds to the balance of their account. If a transaction is initiated and punters do not have sufficient funds, Instadebit will not bill a fee, but their bank might do so.
If punters have enjoyed a fruitful betting session and they have already transferred their winnings to their Instadebit account, a fee of $2 will be charged, given that they want to withdraw their winnings into their bank account.
As we mentioned already, today, Instadebit only facilitates payments in CAD and USD. Thus, if the bookie punters have picked does not support these currencies, a fee for the currency conversion will be applied. Please note that the currency conversion fee will be determined by the day’s exchange rate.
| Fee Summary | ||
|---|---|---|
| Operation | Time | Cost |
| Deposit to bookie | Instant | Free |
| Withdrawal from bookie | 3-5 days | Free |
| Deposit with card | N/A | N/A |
| Withdrawal to card | N/A | N/A |
| Deposit with bank account | Instant | $1.95 |
| Withdrawal to bank account | 3-5 working days | $2 |
Security
While using Instadebit for gambling-related transactions or any other purpose, gambling aficionados can be assured of the security of their funds at all times. The payment processor is celebrated for the comprehensive and sophisticated anti-fraud systems it relies on that make it possible for gambling aficionados to carry out their transactions without a care in the world.
In terms of safety, Instadebit outshines many of the payment processors available out there as it does away with the need to expose any of your banking details when moving funds to or from your sports betting site of choice. As we explained already, when making payments through Instadebit, there is no need to enter your banking details on the banking page of the bookmaker or link your credit/debit card in order to start using your Instadebit account.
To protect punters and their funds further, Instadebit will ask them to provide the last four digits of their SIN, along with their date of birth while creating their account. This is done in order to verify the identity of punters.
In addition to the fact that punters’ information is never shared with the bookmaker or merchant, Instadebit also takes privacy control seriously. Because of this, all payments that are executed through Instadebit are monitored at all times. All transactions are executed under the oversight of VeriSign, which is among the leading security certification companies.
To take the safety of punters and their funds to another level, Instadebit relies on 128-bit encryption technology. The communication between all users and Instadebit will be transmitted in the utmost safety, thus ensuring that whatever happens, their sensitive data will be well-protected.
Paired with the safety measures reliable and trustworthy bookmakers have, Instadebit depositors can have the full confidence that their funds will be properly protected at all times.
Instadebit Mobile App
In this day and age, more and more gambling enthusiasts insist on having the convenience to place their real-money bets anytime and anywhere they prefer, and operators go out of their way to follow pace. Naturally, providers of payment services also need to keep up with the times and respond to the preferences of mobile users. Instadebit is not an exception, and its systems are optimized to guarantee smooth and worry-free payments on the go.
Although Instadebit users cannot make use of downloadable apps for tablets and smartphones that run on Android or iOS, they can still access its mobile-friendly payment pages. If gambling aficionados are yet to create an Instadebit account, they can do so after they access the official website of the payment processor in the browser of their portable device. Registering for an Instadebit account as part of their first transaction is also possible if punters are keen on betting on the go.
While using Instadebit for mobile payments, avid sports bettors need to follow the same steps they stuck to when placing their real-money bets via their computers. Once again, punters need to navigate to the banking page of the sportsbook, select Instadebit, and key in the amount they want to upload to their gaming account. When they tap on the Deposit button, punters will be asked to log into their Instadebit account in order to confirm the payment. Cashouts are executed with ease, and once puters confirm the withdrawal, their funds will be released from their gaming account within a couple of days.
Once again, it is up to mobile users to decide if they prefer to leave their winnings in their Instadebit account or transfer the funds to their bank account.
| Mobile App Features | |
|---|---|
| Send Money | Yes (through the browser-based version) |
| Receive Money | Yes (through the browser-based version) |
| Top-up from bank account | Yes (through the browser-based version) |
| Withdraw to bank account | Yes (through the browser-based version) |
| Deposit to bookie | Yes (through the browser-based version) |
| Withdraw to bookie | Yes (through the browser-based version) |
Instadebit Advantages
Like all other payment processors gambling enthusiasts can use to carry out their gambling-related transactions, Instadebit also has its strengths and shortcomings. Weighing up the advantages and disadvantages the payment processor has when it is used for gambling-related transactions is the most effective way to determine how it stacks up against the other payment methods available out there.
First and foremost, more and more punters grow interested in using Instadebit while betting on sports because of the user-friendliness of the payment method. Creating an account and then making payments is a quick and problem-free process, which turns Instadebit into a must-try banking solution.
Another strong suit of Instadebit is that it is suitable for transactions from and to sports betting sites. For the most part, bookies allow their users to add and remove funds from their gaming accounts using Insatdebit, which makes the payment method a great choice for punters.
The method is available at a huge number of sports betting platforms, which allows punters to pick the one, which provides for their favorite sports or offers some eye-watering bonus deals in a walk.
Another benefit of using Instadebit is that sports bettors will benefit from deposits that are carried out in real time. Since the balance of their gaming account will be updated almost immediately after they confirm the payment, gambling enthusiasts who are raring to go with their real-money bets should not cool their heels. Cashouts are also carried out in a rather timely manner, and once punters’ request goes through, they will need to wait for five days at the most until their winnings reach their Instadebit account.
Punters can load their accounts with cash and withdraw their winnings safe in the knowledge that their funds are heavily protected. As we explained already, the protection of punters’ funds and sensitive information is of high priority for the company, and because of this, Instadebit relies on up-to-the-minute encryption technology. Additionally, Instadebit keeps a check on all transactions to prevent fraudulent activities. The identity verification each user of the payment processor needs to go through further strengthens the protection of punters’ information and funds.
Additionally, handling their payments through Instadebit means that gambling enthusiasts can add and remove funds from their gaming accounts without exposing any of their banking details to the bookmaker, which takes the safety of their funds to the next level.
Instadebit is a good choice for gambling enthusiasts also because of its inexpensiveness. When adding funds to their gaming account or drawing their winnings out of it, no additional charges will be applied on the side of Instadebit. As we said already, certain payments result in extra additional costs, but they are rather minuscule. Most of the time, this also applies to bookmakers, as seeing a gaming operator that charges extra fees on payments executed through Instadebit is a rarity.
In spite of the fact that Instadebit is dedicated to providing punters with hassle-free payments, they might still happen to experience some difficulties with their transactions. If they struggle to verify their bank account or have questions about their payments, gambling aficionados can get in touch with the customer support department of Instadebit in several ways. The customer support center works at all times, and punters can forward their queries via email (support@instadebit.com) and over the phone (1 877 883 3248).
Instadebit Disadvantages
When compared to the advantages we already mentioned, the shortcomings of Instadebit are undoubtedly far and few between, but they are still worth mentioning. The biggest weakness of the payment method is its limited availability. As it was already mentioned, Instadebit is unusable by gambling enthusiasts who live outside Canada, which is a major setback.
In addition to the limited number of people who can make use of Instadebit, it is also worth noting that while making payments, punters are given a choice from just two currencies, namely CAD and USD. Just for comparison, there are many payment methods that are suitable for gambling-related transactions and process payments through dozens of currencies.
Today, there are lots of payment processors that are far more usable and do the trick for gambling-related transactions and, most importantly, are accessible by punters from a significantly greater range of territories.
Another thing to consider about Instadebit is that it does not always serve as a cashout method. In spite of the fact that this is not such a common occurrence, punters who prefer to use the payment processor are advised to check if they can resort to it when the time comes to take their winnings off their gaming balance.
Lastly, some avid sports bettors prefer not to use Instadebit because they need to create an account before that. The need to create an account is undoubtedly insignificant trouble because this is done only once, and the whole process does not take more than just a couple of minutes. Once they link their bank account to their Instadebit account, gambling aficionados will benefit from quick and worry-free payment anytime and anywhere.
Countries Where Instadebit is Used as a Deposit Method for Sports Betting
As was pointed out already, the limited accessibility of Instadebit is the most significant challenge one can face. The bank transfer-based payment method is currently only available to Canadian customers, which is to say that if you are a punter from the USA, for example, you will be prevented from making payments through it.
To start using the banking-based payment method, punters should be over the age of 18, be Canadian residents, and have a savings or checking account in one of the banks in the country. Additionally, using Instadebit is without providing the last four digits of your SIN is not possible, which renders utilizing the payment processor outside Canada impracticable.
The company, which is behind Instadebit claims that it is a global leader in payment processing, and it is unwilling to stay still. It has offices in Malta and Toronto, and it puts a heavy focus on the online gambling industry. Because of this, it is a preferred partner for an ever-growing number of global online gambling brands. As it turns out, Instadebit has a global perspective, and the company keeps on working hard in order to expand its footprint.
FAQ
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Using Instadebit is possible if you are a resident of Canada and you have a bank account in one of the banks in the country. If you are under the age of 18, you will not be allowed to make use of the payment processor.
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As soon as they create their Instadebit account, every user will be given temporary transaction limits. In order for gambling aficionados to benefit from higher spending limits, they will be required to verify their bank account. To do so, punters need to know the exact amount of the deposit Instadebit has made to their bank account.
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Yes, punters will be allowed to change their email or password after they log into their account. Yet, if they want to change their address, bank account information, or name, they will be required to send a copy of a utility bill or any other proof of their address, driving license, or a void cheque. Once or more of these pieces of documentation should be sent to the customer support team of Instadebit.
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Yes, most sports betting platforms allows their users to opt for Instadebit when depositing and withdrawing their funds. If withdrawing their funds through Instadebit is an option, sports bettors might need to wait for between three to five working days until their funds reach their account. Still, there are some operators that do not facilitate cashouts through this payment method, and in such cases, punters will most likely be asked to go for a bank transfer.
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Creating an Instadebit account will not cost punters a penny. Still, some payments incur fees, and if punters decide to transfer funds from their bank account to their gaming balance, this will cost them $1.95. If they want to avoid paying this extra fee, sports bettors are advised to make payments from their Instadebit account. Withdrawals from punters’ Instadebit accounts to their bank accounts will cost them $2.
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