An Introduction for Instadebit
Instadebit is an online payment method that allows users to make payments directly from the bank account. It started in Canada and has expanded its reach to multiple countries and betting sites. It was formed by Instadebit Services Inc. in 2004 and is based out of Toronto, Canada.
It is a great option for Canadian betters and now those in other countries as well. The transactions to Instadebit betting sites, since done directly through the bank account and not through an e-wallet service like EcopayZ, do not show up on bank statements.
In its development process, it has been subsequently expanded to over 30 countries after its first start off, including the United States.
However, US authorities later began to start dealing with bad or illegal behaviour in the internet gambling, and the the action of forcing InstaDebit to leave United States proved crippling to its international success. With the US market completely removed , and the European market better served by recognized and generally accepted online payment methods like Neteller and Moneybookers, there wasn’t much of a place for InstaDebit.
Although it still operates in several countries in the world , it is not as accepted over a large range of online sportsbooks as many of its rivals. It does, however, still offer a good service, particularly as it does not charge any fees for deposit or withdrawal.
Pros and Cons of using Instadebit in betting
Similar to e-wallet services, that are popular because of their many services and safety, Instadebit has several positive features that might attract customers as well. Some of them are as follows:
The company boasts an impressive security system
The process of making the account is straightforward and simple without asking for additional documents.
They use high-level encryption to keep customer information safe.
Accounts are monitored 24/7 for security and to keep an eye out for any suspicious activity.
Their customer support is available 24/7 through email, post, and live chat.
It allows betters to make quick deposits and do so freely from their bank accounts, and according to claims without sharing any information with the gambling site.
Just like e-wallet services, Instadebit has its share of problems as well. It is not an e-wallet service but the payment process may face issues similar to those of e-wallets regardless.
Although expanding, it is still only available in a few countries.
It does not support all the banks of countries it is present in, making its customer circle very limited.
Many bookmakers do not offer the payment option for Instadebit.
In 2017, there were instances of delays regarding withdrawals with Instadebit causing the funds to what is termed as ‘a limbo’.
How to Use Instadebit for Gambling
How to deposit by INSTADEBIT to online betting site
Instadebit is similar to using a cheque, only online. It allows users to make accounts directly and quickly and allows them to start making deposits without having to wait for approvals and authentications.
Since this is not an e-wallet service, therefore funds cannot be directly deposited into the Instadebit account from bank accounts. This process is done directly through Instadebit support betting sites where the option to pay through Instadebit is given. It requires only a click and the process stated above will have to be followed for the Instadebit betting sites.
How to withdraw by Instadebit to online betting site
Not many betting sites support Instadebit, but for those that do the process to withdraw money is very simple.
All the better has to do is go into the payment options of the Instadebit betting site and click withdraw funds. Below it, the options given for withdrawing funds will be Instadebit (if it is supported). It only requires a click on the Instadebit options to withdraw the funds.
Fees Regarding Deposit and Withdrawal
Fees Associated with Instadebit Deposits at the betting site
A criticism given to most e-wallet services and some online payment options is the separate fees taken at the time of the deposits and withdrawals.
There are no additional fees added to the transactions on Instadebit instead the extra fees are charged from the merchants only.
The only situation where they will charge their customer's extra fees is during money conversions. In that case, the company only charges a small conversion fee.
Fees Associated with Instadebit withdrawals at the betting site
A negative when it comes to Instadebit is the charges put on the withdrawal to the bank account. There are no additional fees for the withdrawal from the betting site to the Instadebit account, but there is fees charged when the withdrawal from the Instadebit account to the bank account is made.
Instadebit Security & Anonymity
One of the reasons people are compelled to use Instadebit is because of its safety feature. Bettors are required to type in their Instadebit ID when they make a deposit and are necessary to complete the transaction. Since the funds are transferred by Instadebit, the betting site will not receive any card details or account numbers.
In essence, it provides data protection, where no private information regarding the person or their account number will be shared with the third party sites. The identity verification aids in the protection of payment. They are partnered with security certification firms VeriSign and TRUSTe that monitors privacy and transaction.
Moreover, transmissions and transactions are encrypted using 128-bit encryption technology. This encryption ensures protection from fraud and hacking. All the features combined make this payment option a very secure one.
Frequently asked questions:
Which US friendly bookmakers accept Instadebit deposits?
Instadebit started from being only available to the Canadian residents and has now expanded its reach to multiple countries and sites. Bookmaker sites such as Bet365 that work in the US and are supporting Instadebit makes it available to the US residents as well.
Does Instadebit allow online betting deposits in your country?
It allows transactions in the UK and other European countries through betting sites such as Bet365, betway, 888sports and more.
Is Instadebit a safe way to deposit at betting sites?
Instadebit has numerous layers of protection and for almost all the steps for making transactions on betting sites. It has Data protection, security identification, privacy control, and secure transmission.
Can you use Instadebit on bet365?
Instadebit is a globally renowned betting site and supports transactions through Instadebit without any additional fees on those transactions. There is a minimum deposit fee of $20 and a minimum withdrawal of $20 as well.
Does betway accept Instadebit?
Instadebit is also supported on betway, a leading betting site across Europe. Furthermore, there are no extra charges to deposits and withdrawals and no records of any transaction appear on the bank statements.