Paysafecard is a prepaid online payment method that requires no bank account to work. Canadians can complete transactions without sharing their personal information. It relies on vouchers that contain a 16-digit code that Canadians have to enter at check out. They can purchase these vouchers at local sales outlets for nominal values of $10, $20, $50, and $100, which they can later use online.
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The payment system originates from Austria. It came into existence in early 2000. In 2009, the company began to expand and offer the service outside of Europe. Their first international foray was in Argentina in 2009. They followed up with Mexico and the US. In 2012, Paysafecard entered Canada.
At its launch in Canada, Paysafecards were available in over 20,000 retail outlets. In 2013, Skrill, the digital wallet that was formerly known as Moneybookers, acquired the company. Optimal Payments Group, two years later, purchased it, and it rebranded itself as Paysafe Group.
As of 2018, Paysafecard is available in more than 40 countries. Its former competitors British Ukash, and Dutch Wallie, have now been absorbed into the card. The service has won numerous awards, including Best Digital Currency and Most Innovative Prepaid Solution.
Deposits Withdrawals Options for Canadians
The process of using a Paysafecard for deposits is similar to that of using a credit/debit card. Of course, first, you’ll have to buy a voucher and choose an online casino. After, you’ll need to head to the cashier tab and select Paysafecard from the list of deposit options. Then, you’ll have to enter your desired amount. You can combine multiple codes to deposit a higher amount. Your transaction should go through instantaneously, but it may come with a 2% fee, depending on your region.
Most online casinos do not support Paysafecard for withdrawals. Nevertheless, there’s a service you can use called My Paysafecard. You can select it as a withdrawal option and enter your desired amount. Within 24 hours, the funds should leave your casino account and transfer over.
Advantages of Paysafecard
The main benefit of using this method is anonymity. It’s ideal for Canadian players that value their privacy and want to maintain the security of their banking information. You can purchase the card from +650,000 sales outlets worldwide. It is a quick deposit option that makes accidental overspending impossible. A sensible choice for Canadians that wish to avoid financial difficulties.
By using the method, you also avoid many of the risks associated with credit card fraud, and you can transfer your funds legally to a third-party. There’s a mobile app, and no fees for online casino deposits.
Disadvantages of Paysafecard
There are a few negatives regarding the use of this deposit method. Canadians should always make sure to purchase the vouchers from reputable outlets, as there are some fraudulent sites out there. You have to walk to a shop and use cash to get your code. You cannot withdrawal funds using this method, and the deposit limits are usually smaller than for other options.
Paysafecard at online casinos
Paysafecard is ideal for depositing and withdrawing funds from an online casino. Games such as baccarat, blackjack, jackpots and roulette are best enjoyed played with real money so you can use your bonus but do read more about responsible gaming. For more information regarding the words and phrases used in online gambling, please check out our glossary for online casino and betting.
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