iDebit Review

iDebit Canada is a safe and trusted online payment system which is directly linked to your online bank account. iDebit sportsbooks and customers like it as it speeds up transactions and does so securely. iDebit is growing in popularity with online betting customers and its market share is growing rapidly.iDebit Review

Often described as “the fastest and easiest way to deposit money in an online sportsbook” iDebit basically works as an intermediary between your bank account and iDebit friendly sports betting sites. Unlike direct banking iDebit does not require you to share your personal banking details with anyone, so it brings you added security while processing real-time payments without a credit card.

Still unsure? Simply think of iDebit as a wallet used to hold your cash, taken from your bank to pay for goods, services and betting transactions. Of course the distinction is iDebit being an online wallet and the money, albeit very real, isn’t ‘paper money’.

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iDebit Sportsbooks Canada

Given its seamless transactions more and more iDebit sportsbooks are cropping up. In fact very few Canadian facing online betting sites (and online casinos) are not offering iDebit as a preferred payment method. Furthermore it is becoming popular the world over with an additional 20 countries now offering iDebit as a way to fund their citizens online sportsbook accounts.

Check the cashier section of your preferred sportsbook to see if they accept iDebit transactions. If you cannot see the iDebit logo look for ‘Instadebit’ as this is the same company and almost identical payment method.

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Is iDebit Safe and Legit?

iDebit is 100% safe and secure. It complies with the ‘Fair Credit Reporting Act’ and all laws of the land. The company boast the use of “biometric palm scanners and 24/7 security guards” plus they use top-notch security control and 128-bit encryption technology. It is safe to say your money and personal information is safe at all times which is a slam-dunk when you consider it only deals with Canada’s major banking organizations.

Despite all of this it is incredibly quick and simple to open an iDebit account at their online site and you can start using the payment solution almost immediately.

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What are iDebit’s Fees?

There are no fees involved in iDebit sportsbook transactions – deposits and withdrawals from your sportsbook are both free. But there is a small cost for making transfers between iDebit and its older brother Instadebit. Furthermore you will incur a small charge when transferring money between your iDebit account and your bank account. The current charges for this are a relatively miniscule fixed price of $1.50 or $2.00 for each.

What Canadian Banks Work with iDebit?

The vast majority of Canadians can sign up for iDebit and use it alongside their personal bank account. organizations in tune with account holders at the Bank of Montreal, Canadian Imperial Bank of Commerce, Desjardins, National Bank, Royal Bank of Canada, Scotiabank, Simplii Financial and TD Canada Trust. In short, all major banks.

Do note you must be 18 years of age to use iDebit in Canada. Of course you need to be at least that age to be accepted as an online sports betting customer anyway.

iDebit Deposits and Limits

Unlike many payment solutions iDebit boasts excellent 24/7 customer support and do not be afraid to get on to them to increase your deposit limits or to set yourself lower limits in the interest of responsible gambling. You can also access your transaction limit at any time by logging in to your iDebit account.

You will find your updated limit is also included on your receipt at the end of every transaction. As a new customer transaction limits may be set low but they can be ‘upped’ relatively quickly.

As with all payment methods, individual online bookmakers do set limits on daily, weekly or monthly deposits and withdrawals so refer to their T&C’s for the maximum and minimum you can transfer in or out with them as part of a single transaction.

iDebit Withdrawal Times

To withdraw funds from your iDebit Canada sportsbook account simply visit the cashier and complete the transaction in the normal way, it is total free and instant. Thereafter, to return funds to your bank, log in to your iDebit account and select ‘Withdraw Funds’. It is equally straightforward but do note on the first occasion you withdraw funds from iDebit, you will need to provide additional information such as photo ID or bank account details for verification.

Withdrawals from iDebit can take up to five working days to be processed and for the cash to arrive in your bank – although our experience shows it is often a lot quicker – and if you choose to accept your money by cheque or money order, they will be dispatched within 1-2 business days.