InstaDebit is a bank transfer service provider in Canada. It is available in 32 countries. Customers use the service to transfer funds from their banks to merchants. The good thing about this is the merchants don’t have to know the consumer’s bank information. There is no fee to create an account with InstaDebit, so merchants can immediately accept payments from their clients.
Since 2003, the company has led the payments industry. It provides online transaction processing and risk management. This payment method is available on thousands of e-commerce websites around the world.
It is crucial to clarify that InstaDebit is not an e-wallet. As such, users cannot deposit funds directly into their accounts. Instead, users need to pick InstaDebit as an option on the payments page. InstaDebit will debit the funds to be transferred to the merchants from a user’s bank account.
Many merchants find it hard to provide an easy payment processing solution to their clients. InstaDebit can solve that predicament. As long as the clients have a bank account, they can sign up for an InstaDebit account and link their accounts. When they pay a merchant, they use their InstaDebit to do so.
InstaDebit does not discriminate. Your clients can use the payment method no matter what they want to buy from your business. As long as InstaDebit accepts you as a merchant, you can also start receiving payments from your customers’ accounts.
InstaDebit’s website says there is no fee to create an account. However, it will charge your bank account CA$1.95 when you make a payment to a merchant. There is no charge if you will use the balance in your InstaDebit account. The merchants will need to pay a small charge if they withdraw the funds or transfer them to their bank accounts.
If you use US dollars in your InstaDebit account, there is an exchange rate fee. You can also see the current exchange rate on the transaction page.
There is no information about any hidden fees.
Despite the many complaints against InstaDebit, there are no rip-off reports about the company.
There are no other complaints found about InstaDebit.
InstaDebit is one of the most popular bank transfer processors in Canada. It is used on Facebook, PlaySpan, Playdom, World of Tanks, and Live Gamer. It also has a profile on the business networking site Crunchbase.
ScamAdviser gave the website an average to good trust rating of 100/100. The positive highlights are the following:
The only negative comment about the website is that the owner hid their identity using WHOIS. Otherwise, ScamAdviser said that InstaDebit’s site is safe enough to browse.
InstaDebit is popular in Canada and other countries where it has made a name for itself. While there are negative reviews about the company, it is a legitimate payment processor that you can work with for your business and personal needs. The company requires users to be at least 18 years old and to have a bank account with an accredited Canadian financial institution.
