Instadebit Compared to Moneybookers for Canadians

 moneybookers canadaMoneybookers and Instadebit are very similar deposit methods. The main difference is that Instadebit is a Canadian company focused on Canadian clients, whereas Moneybookers is a more worldwide European company.

Moneybookers is one of the largest third-party sportsbook deposit methods in the world. Moneybookers enables customers to load money into your Moneybookers account via Bank Wire or Credit Card. This money can then be transferred to your sportsbook account.

But if you load money into your Moneybookers account with a Canadian blocked Visa or Master card, you still won’t be able to transfer those funds to your betting account. The advantage to using Moneybookers is that you can have money sent back directly to your Canadian savings or chequing account.

The drawback, however, is that you have to go to a bank and send a bank wire to Moneybookers and incur the wire fee and drive to the bank. If you like to fund your sportsbook accounts using a non-blocked credit card and frequently send money to and from multiple sportsbooks, Moneybookers is a great option.

You will only have to verify your card and send it doc’s once, as opposed to all the online sportsbooks you deal with. And you save time on withdrawals.

Moneybookers Advantages for Sportsbook Deposits

  • Very low fees but still higher than Instadebit
  • Ability to transfer funds to and from friends who have Moneybookers accounts
  • Electronic withdraws back to your personal bank account or check

Disadvantages of Moneybookers Sportsbook Deposits from Canada

  • Account verification delays
  • Must get to the bank to send a wire to deposit using a Canadian bank account
  • Customer service not as great for Canadian customers
  • Still, have to fax in documents and a long wait to verify credit card or bank account

Why Instadebit Canada is better than Moneybookers for sports betting deposits

Moneybookers would be a lot better if they simply allowed electronic money transfers from Canadian bank accounts in the same way Instadebit does. If they did that they may be a superior deposit method. But having to go to a bank to wire money is a pain, as well as the $20 wire fee.

Instadebit only charges a $1 to upload funds to sportsbooks. The other problem with Moneybookers is a tedious scanning and faxing in doc’s whether it be credit card information or bank account statements. They also take their sweet time approving everything.

And if you have a problem reaching them by phone is tough. They are much easier to use in Europe and remain a great deposit method once you get over all the verification, but in Canada, Instadebit is still a much better choice for sportsbook deposits.