Online banking technology and safe deposit in Canadian online casinos (Part 1)

For online casino players and operators, the interface between website technology and secure banking facilities managed by third-party providers is an important aspect of the online casino. Absolute reliability is essential – if a player cannot trust the banking arrangements, they won’t trust the site.

The everyday financial world offers many ways to execute transactions, many of which adapt well to the needs of the online environment. Some of the most commonly used financial trading tools and systems are as follows.

Credit cards

Usually acts as a top-up loan on which you pay off monthly debt, the credit card is made of durable plastic and allows the cardholder to access credit funds.

They can be used for purchases and payments. Credit are provided by banks, social builders and a host of other credit lenders. Various rewards and incentives are often tied to credit card spending.

Debit Cards

These cards have a physical resemblance to credit cards. They are welcomed by the same stores that accept credit card transactions. The debit card is linked directly to the bank account and therefore will normally also bear the bank details of the account holder.

Transactions made by credit card instantly change the balance of the linked account. So the card can be used for payment (debit) and you can add credit transfer to the account.

Transactions made by credit card instantly change the balance of the linked account

This flexibility, as well as high standards of banking security, make debit cards popular. It is considered a convenient option for casino customers in Canada and elsewhere.

Instant debit or prepaid card

Sharing some of the functions of a debit and credit card, instant debit card is also known as prepaid card. Money is loaded on the card up to a fixed limit. That total can then be used as a debit card for payments and spending.

Since it acts as an independent base, instant debit cards will have no direct impact on any bank accounts. And when the pre-recharge runs out, the card will be deactivated until funding has been replenished. While this is clearly a good way for customers to plan their spending, many locations cannot accept these cards for technical reasons.

Bank Transfer

This facility is a quick way to send money directly from one bank account to another. It can be used to make payment transfers and is usually free of charge. One advantage of this method is that it is much safer than withdrawing cash for payment.