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Online casinos and other such gambling platforms have largely expanded their service offering and territorial coverage since their early beginnings about a decade ago. Nowadays, operators compete with each other in order to bring players closer to the top quality online gambling experience that meets their preferences.
One key aspect...
... of the efforts put forward to providing a satisfactory player experience is the payment processing solutions put at the users’ disposal. Due to technological advances in recent years, the number of such payment options has increased significantly, with the entire e-commerce industry dominated by the following services:
- Credit card and debit card processors
- Online payment processors
- Bank wire transfers
- Prepaid cards
Each of these options has its strong suits and disadvantages, but they all work forward towards providing a safer, yet faster processing service, with minimum cost and risk factors. One of the payment processing options that has come close to achieving such service standards is InstaDebit.
The company International Solutions Ltd dates back to April 2003, when it first started operating in the field of online payment processing. Since then, it has retained its initial headquarters in Toronto, Canada, and further expanded. Thus, nowadays, it has an international branch office in Malta, known under the name InstaDebit Global.
... is not a classic e-wallet service that allows its users to store and keep funds in their digital format straight on their servers. Instead, this company is more of a payment facilitator, a mediatory service between the e-merchant and the buyer/player. So, while there is a certain signup procedure involved in using this banking method, its approach is more of a third party, background mediation.
How to Become an InstaDebit User?
Nowadays, this payment option has been incorporated and made available at a number of online retail and iGaming platforms. Still, prior to making attempts to use this method, it is advisable that you check whether it is available on the given website.
Afterwards, the procedure consists of a few short and simple steps:
Step 1: Enter the website and go to the Sign Up page. Here, interested users a given a form that they need to fill in with their personal identification details, such as name and address, valid e-mail address, the bank account that they wish to use in order to fund their online transactions and the four last digits of your Social Security Number.
Step 2: Upon completing the entire form, users are supposed to submit their signup request and wait for a confirmation. As soon as the email and the bank account you entered manage to check out as valid, the process is almost done.
Step 3: In order to protect all its users of identity theft attempts, the service additionally makes a small, practically insignificant deposit to the bank account entered. Once you receive this deposit, enter it in the verification service to prove your identity. Afterwards, all it takes is to find a suitable platform and start using the benefits of this type of online payments.
As a Payment Method
The online casino industry has become one of the fastest growing forms of digital gambling entertainment. This drew the attention of numerous associated business ventures, as well as malicious hackers. Due to their popularity, iGaming platforms are constantly under attacks targeting player information and funds, which caused them to turn only to the top reliable payment options.
As a Deposit Method
When it comes to deposits, most online casinos manage to achieve real-time access to player funds, although there are some methods which could still require some processing wait time. Luckily for InstaDebit users, this is not the case with this payment facilitator, mainly due to the service’s unique processing feature.
Deposits are performed with a few simple steps, considering you have already passed the registration procedure for the payment service:
- Players need to access the Cashier/Banking section of their chosen online casino site in order to preview the whole range of available options. Should InstaDebit be listed among them, players are free to select it as their chosen service.
- Clicking the icon will open an additional popup window on your chosen browser, where you will be required to enter access credentials to account. Most of the time, these include the username and password to your online payment method account, as well as the four last digits of your Social Security Number for safety purposes.
- Either here or at the start of the process in the casino Banking section, players are required to enter the specific sum they wish to deposit to their online casino account. After that, all you need to do is confirm the transaction, and it will be executed momentarily.
- As proof of the fund's transfer, players will see an instant change in their online casino account balance, as well as a confirmation email that the service sends to notify both the depositor and the recipient.
As a Withdrawal Method
The process of making withdrawals with the payment processing service is much the same as deposits. The only difference is in the direction of the transaction. In other words, when making withdrawals, players still start at the Cashier, inputting the amount they wish to withdraw out of their winnings, and choose the InstaDebit payment option. Upon confirming your identity with the login process, players will receive the withdrawn amount to their account.
Funds are not intended to be kept on InstaDebit accounts, as the service is more of a payment facilitator rather than a storage e-wallet. Thus, players can choose to make a different online deposit or purchase payment by directly using the withdrawn winnings. Otherwise, they can cash out this amount by having it transferred to their linked bank account.
It is important...
...that users are aware of the fees imposed on them for each of these transactions. Thus, the former will not submit them to any charges for the payment processing, while the latter will see them get charged $2 CAD per request.
That said, deposits...
... made from the player’s bank account, credit or debit card will also be subject to a fixed fee of $1.95. Alternatively, as already mentioned, when paying for goods or services, or funding your online casino player accounts with funds located directly onto your InstaDebit profile, no fees will be charged.
With advancements in technology and the specific business sphere, most benefits enjoyed by the player pool have ultimately turned to standard player benefits. Nevertheless, this has only made services work harder and reach optimal performance potential in order to stand out from the massive selection.
In regards to this, it has been ultimately characterized by the following advantages they offer to their user pool:
- Security – The service offers its users ultimate security. For one, the centers containing the servers with user data are kept under high-end surveillance and security protocols, with constant supervision. Plus, they make use of 128-bit encryption protocols that ensure any information of funds being transacted at any given time are fully encrypted and unintelligible to third parties.
- Transaction Speed – While they submit each transaction to such rigorous security and validation measures, InstaDebit processors still manage to achieve instant payments. In regard to this factor, users need to take into account the online casino or other e-commerce platform they use. Most operators tend to achieve instant deposits to prevent wait time for eager players, but they may take a few business days to verify and process withdrawals. Depending on whether they employ Fast Bank Transfer or Real Time Transfer protocols, players will be able to cash out winnings in 3-5 business days or instantaneously, respectively.
- Anonymity – Considering that the service is described as a mediator between the bank account and the online casino platform, it is safe to consider it as an extra layer of protection. While encryption protocols mainly prevent the disclosure of players’ personal information, InstaDebit practically eliminates the process of sharing private banking information with the casino and takes that responsibility upon itself.
- Free processing – As explained in one of the paragraphs above, transactions are absolutely free when performed from the e-merchant platform to the InstaDebit account and vice versa. Depositing funds from your online bank account will see players charged the minimum of $1.95, while cashing out to the same account is subject to a $2 fee. With such minute amounts, the transaction processing service is generally listed as all but free.
- Top gameplay –It has managed to maintain an impeccable track record throughout the years of its existence, which is a significant achievement, especially in the iGaming industry. Thus, its presence on a casino site indicates reliability, and players can use it to direct themselves to top gameplay selections.
The benefits listed above tend to cover all key concerns of online casino players and buyers in general. Still, it is expected that there are some shortcomings or dislikes that some members of the user pool could consider as the service’s disadvantages. They tend to include:
- Mandatory signup – The most contemporary payment facilitating services tend to avoid the need to require user signup, in order to give them even greater privacy. While they still gain access to their personal information using the bank account they choose to link to the service, lack of such procedures optimizes the time spent on the payment processing service and adds to the player’s sense of security.
- Country restrictions – When it first started out, the company was dedicated to processing payments for Canadian operators, and only later broadened its horizon. Due to their global branch in Malta, the company nowadays services users from the United States, which restricts interested individuals from regions outside these geographic territories.
1. Are InstaDebit users provided some kind of a customer support service?
Yes, users can address all their inquiries or assistance requests straight from the site’s contact form, or via the 24/7 available live chat or phone line options. Alternatively, some less urgent matters can be found at the FAQ knowledgebase, also on their website.
2. Does the payment processor impose any restrictions regarding the currency of the transferred funds?
InstaDebit has currently restricted its payment processing operations to the US and CAN dollar currencies, matching their geographical restrictions.
3. Which exchange rate does the service apply when converting currencies during transaction requests?
The exchange rate between the USD and the CAD changes daily, according to the global exchange markets. Thus, the value of your funds could alter, should the rate take an unexpected turn, upwards or downwards.
4. Where can I play using this payment option?
5.How will my transactions be reflected on my bank statements?
Further proof that anonymity is one of InstaDebit’s strong suits is its records on the users’ bank statements. Transactions processed in this manner are recorded as simple check payments at the bank statements, thus limiting any information about your online payments and gameplay experiences.