Whats your experience with INSTADEBIT?

**betplom** · 03-27-07, 03:09 PM

They seem to have the most stringent security department. Instadebit asked me to scan and send a void cheque, utility bill drivers license and my Social Insurance number.

My outgoing transaction limit is low at the moment, I can only send $200 per 7 days to online "merchants" using Instadebit. However, I can make a credit card deposit to a sportsbook and they will payout to Instadebit. EFT's to my bank have been fast!

There is no feature to transfer USD balances to Canadian and vice versa. For example:
I had a payout from Titan Poker for 1K USD to Instadebit and the funds showed up in my Instadebit account as a USD balance, then I wanted to send $500 USD to Matchbook and Instadebit wanted to take the funds out of my bank account instead of using the available balance of 1K USD. The option is to withdraw the USD to your bank account and then let Instadebit withdraw from your bank even if you have funds in the Instadebit wallet. I found this to be inconvenient.

Instadebit is located in Toronto. After seeing ******* (Montreal), Citadel (Vancouver), and Neteller (Calgary) all leave the Canadian market I wonder how long before Instadebit does the same thing.

Thankfully, Canbet, Bet365 & Mansion (my most used books) payout to Canadian issued **** credit cards. **** is by far the best option for me at the moment.

**manitobashadow** · 03-27-07, 04:22 PM

I wonder if i should wait a bit before i try them, with NETELLER s demise...crap i need a solid deposit method...

I dont want to use sports lotteries here

**sportsfanatic** · 03-27-07, 05:03 PM

Originally posted by betplom

They seem to have the most stringent security department. Instadebit asked me to scan and send a void cheque, utility bill drivers license and my Social Insurance number.
B]

Your SIN? I would have stopped right there. I think SIN and I immediately think of identity theft cases. I'm not saying that anything bad is going to happen to you, but better safe than sorry.

**Stumpage** · 03-27-07, 05:07 PM

Originally posted by manitobashadow

I wonder if i should wait a bit before i try them, with NETELLER s demise...crap i need a solid deposit method...

I dont want to use sports lotteries here

Shadow, I looked into click2pay a little bit yesterday. Didn't really get too far in my examination, but they seem to be a viable option at this point, and a few books have them as a deposit/withdrawal option. For now I'm concentrating on book to book movement, but I'll need something else soon as well.

**manitobashadow** · 03-27-07, 05:25 PM

Good to know, though the books I explored dont accept click to pay.

**betplom** · 03-27-07, 06:00 PM

Originally posted by sportsfanatic

Your SIN? I would have stopped right there. I think SIN and I immediately think of identity theft cases. I'm not saying that anything bad is going to happen to you, but better safe than sorry.

Yeah, I wasn't too thrilled about providing my SIN but I did at the time I applied for an account. I believe (but am not 100% certain) that they do a credit check.

Recently, I changed bank accounts and they want a new cheque/statement faxed/scanned to them before they will update my banking info.

**MAB** · 03-28-07, 01:19 AM

I use to use them often before they stopped accepting US customers. I had no issues.

**manitobashadow** · 03-28-07, 06:09 AM

Originally posted by betplom

Yeah, I wasn't too thrilled about providing my SIN but I did at the time I applied for an account. I believe (but am not 100% certain) that they do a credit check.

Recently, I changed bank accounts and they want a new cheque/statement faxed/scanned to them before they will update my banking info.

credit check? what for?

**manitobashadow** · 03-28-07, 02:11 PM

bump

**betplom** · 03-28-07, 03:00 PM

Originally posted by manitobashadow

credit check? what for?

I'm not sure exactly why but like I said earlier, Instadebit security dept requires alot of information from it's customers.

In the meantime, for deposits I've been using "Use My Bank" as they use Interac Email Money transfer from your bank account. If You use TD Canada Trust, Bank of Montreal, ScotiaBank, Royal Bamk or CIBC this option works well.

"Use My Bank" is offered at Sportsinteraction, and other sportsbooks.

**manitobashadow** · 03-28-07, 03:02 PM

For some reason, they wont let me set my account up over the internet...say i have to do it manually..this sounds like it could take weeks to get going?

**betplom** · 03-28-07, 05:31 PM

Originally posted by manitobashadow

For some reason, they wont let me set my account up over the internet...say i have to do it manually..this sounds like it could take weeks to get going?

Yeah, Instadebit wants a faxed in application with supporting documents.

For "Use My Bank" there is no setup of account, all you do is select this method and follow the prompts. If you use online banking already, you're good to go.

To avoid charges with Moneybookers I will deposit 1K to my Poker account using Use my bank as there are no holds - funds are guaranteed (instantly) then withdraw $900 to my Moneybookers account through my poker account, which can then be used to fund different sportsbook accounts.

**charleyb** · 12-30-08, 10:09 PM

thers nothing wrong with instadebit and it works quickly

**Juvenile** · 08-11-09, 02:16 AM

bump.

Am i getting this correctly, it doesn't cost any money to deposit money into instadebit, or to transfer money from instadebit to a sportsbook, or to transfer money from a sportsbook to instadebit, or to transfer money from instadebit to your bank account? How do they make money?

**Metalhead** · 08-11-09, 02:20 AM

They charge the merchant.

**thespeculator** · 08-11-09, 08:35 AM

i don't think you need to worry about them going under, they just transfer the funds, i have found them to be very fast, when i was with cibc, it would show the same day , with td it takes until the next morning, but i request a payout on monday, the money has always been in my account by wed.

**Juvenile** · 08-11-09, 11:43 AM

ok thanks for the help. Looks like im going to use instadebit