Instadebit is a Canadian-based ewallet that started focusing on the iGaming market as soon as the phenomenon picked up momentum in the country. Since it is the first payment option designed to work perfectly at bookmakers and casinos, Instadebit enjoyed a lot of popularity in Canada. And there was no other way since it offers instant deposits, no fees for transactions to and from bookmakers, as well as fast withdrawals. Along the way, Instadebit added the possibility for users to pay directly from their bank accounts through Instadebit, which made the payment option even more popular.
Even though it gets a lot of competition from Interac, Instadebit is still considered one of the leading payment options in Canada to this day. So, if you’re interested in finding out more about Instadebit fees, how to deposit and withdraw, processing times or the currencies it offers, check out the review our team put together for you.
After checking out a lot of online bookmakers for restrictions regarding the first deposit bonus when depositing with Instadebit, we discovered that there’s no such thing. So, making a deposit with Instadebit will deem you eligible for the first deposit bonus, as long as you respect all the other conditions imposed by the sportsbook.
The reason why Instadebit allows you to claim the first deposit bonus or the welcome package at most of the online bookmakers out there, while other ewallets don’t, comes from the way this ewallet can be directly connected with your bank account so there’s no risk of using fake details or a different identity. Also, the last four digits of the Social Insurance Number are requested upon registration so that’s another way of making sure the Instadebit account is verified and safe.
So, no matter if we’re talking about the first deposit bonus, or any other rewards offered by bookmakers, you won’t have to worry about not being able to claim it. When depositing with Instadebit, all bonuses are available as long as you are eligible for them.
If this is the first time you’re attempting an Instadebit deposit, the process is just as simple and efficient as with any other ewallet out there. Of course, before being able to deposit, you should first create an account with Instadebit and with the bookmaker where you want to deposit. We’re going to present the steps to follow after you’ve already dealt with these two aspects. However, if you need any assistance on how to create an Instadebit account or what bookmaker to choose, you’ll find plenty of info on this page.
Getting back to the deposit process with Instadebit, here’s how simple everything is:
When making a deposit from your Instadebit balance, there is no fee applied. However, if you choose to add funds straight from your bank account, there’s a fee of CAD 1,95 applied. The minimum deposit with Instadebit usually stands at CAD 20, however, there are plenty of bookmakers that accept lower amounts. On the other hand, the maximum amount for one transfer sits at CAD 1,000.
Unlike other Canadian payment options, Instadebit also supports withdrawals at the vast majority of bookmakers offering it. So, just like when making a deposit, you need to head to the cashier and click on the “Withdraw” button instead. The next step is inserting the amount you want to take out and choose Instadebit as your withdrawal method. Since you already deposited with the same Instadebit account, you won’t need to insert the email address attached to the account.
When you’re requesting a withdrawal from an online bookmaker, Instadebit does not apply any fees. So, if you need to pay anything during this process, you should know it’s something that the bookmaker added. If you want to make sure you don’t pay any fees on your transactions, pick any sportsbook on this page and you will enjoy a smooth experience.
The minimum amount for an Insadebit withdrawal stands at CAD 20 and the maximum can go up to CAD 10,000. Of course, these limits can be modified by the bookmakers. However, you should be able to easily find this info in the cashier section. An Instadebit withdrawal shouldn’t take more than 24 hours from the moment the funds are released by the bookmaker until they reach your account.
Signing up for Instadebit is free and it can be easily done on the official website. Just hit the orange “Log in / Sign up” button on the top-right corner of the homepage and you’ll be redirected to the sign-up form. In the first step of the registration process, you will be asked to insert your First and Lat Name, Email Address, Postal Code, and also choose a password for the account.
Once you insert that info and click next, you will be asked for more details on your address like Street Name, City, or Province. The last piece of info you need to insert is the last four digits of the Social Insurance Number and Date of Birth. Once you hit Next, all you have to do is agree with the Terms and Conditions for creating the account and choose if you want to receive any form of communication. Check the box and decide if you want to receive emails or SMS messages, then hit “Create account” and you’re good to go.
Since Instadebit is also linked with your bank account, it doesn’t require the standard verification that other ewallets practice. So, you won’t have to send your photo ID, utility bill or selfie. Instead, they just want to verify your bank account as soon as you add that info in Instadebit.
The bank account verification process is straightforward since as soon as you insert your banking details Instadebit will debit the account with an amount below CAD 2,00. Once the transaction shows up in your account, you need to go back to Instadebit and insert the exact amount debited. As soon as the bank account gets verified, you can enjoy Instadebit with no limits and no restrictions whatsoever. You can start using it at any bookmaker that accepts Instadebit deposits.
You’d be glad to hear that there are no added fees when using Instadebit. Just the CAD 1,95 when depositing straight from the bank account. However, there are no other fees applied when you fund your Instadebit account with funds from another payment option.
The same applies for withdrawing the funds from your Instadebit balance back to the bank account. There’s a CAD 2,00 fee when you do so, however, when cashing out from the bookmaker there’s no added tax to worry about.
Established in Canada in 2002, Instadebit aimed to deliver the same ewallet services that Neteller or Skrill provided. After many years of competition with Neteller ( another ewallet launched in Canada), Instadebit became the only ewallet to function in Canada after Neteller moved to the Isle of Man and soon after decided not to offer their services in Canada anymore. So, as the main ewallet for online betting in the country, Instadebit boomed in popularity and continues to do so as it’s used by many punters to enjoy their favorite online bookmakers.
Also, ever since the beginning, Instadebit branded itself as a Canadian-only ewallet service so they didn’t think about expanding to other territories. Only punters in Canada can enjoy the top-quality services of Instadebit.