Canadians: iDebit or InstaDebit

**Stallion** · 11-28-20, 03:18 PM

Instadebit is quick and easy once you set it up, it is for Canadians only and fees are $1.95. I would trust it over idebit.

**dmm** · 11-28-20, 03:22 PM

Originally posted by Stallion

Instadebit is quick and easy once you set it up, it is for Canadians only and fees are $1.95. I would trust it over idebit.

Thanks Stallion! Have you used both? Any reason for the distrust of iDebit?

**Stallion** · 11-28-20, 03:26 PM

Instadebit is a Canadian Company so I would trust it more. I haven't used either; What about interac E transfer?? Fees are low for that.

**Krashman** · 11-28-20, 03:30 PM

Instadebit is a wallet, you can load it, hold funds in it.

Very cheap to use.

It will accept both USD and CAD funds.

So for example when you have no funds in the Instadebit wallet, you can use it to deposit CAD into your USD gambling site account from your linked bank account. Then when you withdraw from that USD gambling site, it hits the wallet and is held there in USD for you for max 30 days, you can then deposit into another USD gambling account, save exchange fees this way. Or wd to your bank. If you withdraw CAD from a gambling site it will hold CAD for you.

I never used iDebit but was told it is the same company without the wallet, so they just handle the transfer direct from your bank to the gambling site and back again.

**dmm** · 11-28-20, 03:46 PM

Originally posted by Stallion

Instadebit is a Canadian Company so I would trust it more. I haven't used either; What about interac E transfer?? Fees are low for that.

I use Interac eTranfer for every book that accepts it. Zero fees. Unfortunately Bet365 doesn't accept it.

**dmm** · 11-28-20, 04:11 PM

So it looks like iDebit might be the better option. Deposit fee is $1.50, no account required. Instadebit is more expensive at $1.95 and requires an account. Only drawback to iDebit is that it's available at only 8 Canadian banks, whereas Instadebit is available at all Canadian banks.

**dmm** · 11-28-20, 04:29 PM

Looks like Bet365 forces you to withdraw with iDebit or Instadebit, which incur withdrawal fees. So it's almost the same cost to deposit/withdraw with credit card. Not worth the hassle of dealing with these providers.

**Stumpage** · 11-28-20, 05:48 PM

dmm, I'd go with Instadebit...I don't have any experience with iDebit, but do have 12 years with Instadebit and they are very cheap, reliable and easy to use. I had one nightmare week with them earlier this year when my account was suspended for reasons that to this day have never been made clear, but 1 week out of 12 years is still pretty good.

They picked up the slack bigtime when Moneybookers gave Canadians the finger. Just my 2 cents of course but good luck...

**Stallion** · 11-28-20, 09:04 PM

Agree with the post above.

**icon** · 11-29-20, 05:53 PM

iDebit/Instadebit are the same company. Headquartered in Toronto's financial district.

The major difference between the two is that an iDebit transaction is processed in real time ie withdrawn from your bank right away via online banking. It cannot "bounce".

Instadebit transactions occur a banking day or two later and are done via EFT (electronic funds transfer). If you transfer an amount and its not available at the time the transaction is processed overnight it will fail/bounce.

For iDebit you don't need a bank account on file to use for deposits only withdrawals. Instadebit requires a validated bank account on file so they can access it via EFT.

So for depositing to a book iDebit is less risky, no chance payment fails.