Instadebit is a secure, bank-based payment method available to consumers and online sportsbook players in Canada. The banking method is becoming increasingly popular with Canadian sportsbooks and punters alike.
Instadebit Sportsbooks Canada
Unlike other popular payment methods, like Skrill and PayPal, Instadebit is not an e-wallet and funds cannot be directly deposited into your Instadebit account from your bank account. Instead simply select Instadebit at a supported Instadebit supported sportsbook at checkout, log in to your account and simply click Approve!
You see Instadebit is like paying by cheque online, only easier! Once you have signed-up you can start using your Instadebit account instantly. There is no need to wait for an account activation notice or approval. Providing you have a bank account at any financial institution in Canada, you can use Instadebit to fund your online sportsbook accounts.
As a real bonus, and unlike a number of other payment methods, sportsbook customers making deposits via Instadebit will find themselves fully eligible for bookmaker bonuses and new customer free bet offers.
Is Instadebit Safe and Legit?
Not only is Instadebit Canada safe and legit, it is private. All payments made using Instadebit on Instadebit sportsbooks will appear on your bank statement as either INSTADEBIT.com or 1-877-88DEBIT. That’s great for people with concerns about gambling transactions appearing on their bank records.
Customers can deposit with Instadebit safe in the knowledge the company have fantastic security – they use high-level encryption (128-bit) in addition to firewalls.
Instadebit also use the IdentifyTM system which verifies the customer’s details and bank account number and accounts are also monitored 24/7 for irregularities.
To underline Instadebit trustworthiness and security, the company has been tested, approved and certified by McAfee, Norton and TRUSTe. Of course if you do have any concerns about your Instadebit sportsbook transactions you can contact Instadebit customer support which are at hand 24/7 via telephone, e-mail, live chat and even by post.
What are Instadebits Fees?
Setting up an Instadebit Canada account is free of charge. There is a $1.95 CAD charge for making a payment to a merchant or an Instadebit friendly sportsbook site from your bank account but these can be kept to a minimum as there is no charge to make payments from your Instadebit balance. Furthermore a number of Canadian Instadebit friendly sites absorb the $1.95 charging you nothing.
If you cash out winnings from a sportsbook account there is no charge in transferring these funds to your Instadebit balance account but there is a $2.00 CAD charge to withdraw funds from your balance account back to your bank account.
Most online Instadebit sportsbook deposits and withdrawals can be done in $CAD so there’s no irksome and often costly exchange rate conversions involved with your transactions.
What Canadian Banks Work with Instadebit?
Instadebit is pretty much like paying with an online cheque. Simply apply, verify your account and start betting with Instadebit Canada sportsbooks immediately.
That’s right, as long as you have a bank account at any financial institution in Canada you can sign-up and start using your account instantly, without waiting for account activation or approval. As Instadebit works as an intermediary you will never have to share your bank details with your preferred online sportsbook.
Instadebit Deposits and Limits
After creating an Instadebit account, you will notice a very small deposit made from ‘INSTADEBIT’ in your bank statement. This will have been processed to instigate verification of your bank account.
You will then need to:
- Look on your bank account to find the amount of the deposit made from INSTADEBIT.
- Log in to your Instadebit account and then click on ‘Verify Account’.
- Enter the amount that was credited into your bank account.
Do note you are given a temporary transaction limit immediately after creating an account, and once you verify your bank account, you will receive a higher spending limit. You can adjust your limits further or put restrictions on them by contacting Instadebit customer support.
With most online bookmakers the maximum single Instadebit sportsbook transaction (or transactions during a 24 hour period) is set at $2,500. Per month you can deposit up to $12,500. The minimum and maximum withdrawal is $10 and you can withdraw up to $20,000 in one transaction or several during the course of a month.
Instadebit Withdrawal Times
Instadebit Canada processes deposits immediately meaning you can bet via Instadebit sportsbooks straight away.
If you do elect to cash-out money from your chosen sportsbook, like the clearance time of a cheque, Instadebit say you will have to wait three to five working/business days before the funds are in your bank account and withdrawable as cash. Our experience shows this is often shorter and what’s more you are able to use the funds in your Instadebit account to make instant purchases of goods and services at any time.