What personal information do I need to provide when signing up for an Instadebit account?

You will need to provide Instadebit with your legal name, date of birth, home address, email address, bank account information, and the last 4 digits of your social security number. However, all this information is completely confidential and only used for the verification and approval process. None of it will be shared with other users or 3rd party entities.

How long does it take for money to be transferred from my bank account to my Instadebit account?

All transfers from your bank account to your Instadebit account will be taken out within 3 business days after the transaction is approved. Depending on your financial reliability, you might see this money as available for use before it has finished processing the debit from your bank account.

How long will it take for money I withdraw from my Instadebit account to show up in my bank account?

Most withdrawals between your Instadebit account and personal bank account will take between 1 to 5 business days for the funds to process and appear in your bank account. The length of time necessary to complete the transaction is dependent upon your chosen bank or financial institution’s processing regulations.

Can I use my Instadebit account like a digital wallet?

No. While you can add funds to your Instadebit account in order to make transactions, this money cannot be held there for an extended period of time. Deposits and withdrawals that are not made within a reasonable amount of time will be automatically transferred to your bank account, and you will be charged the applicable service fees.

What forms of currencies can I use with my Instadebit account?

At present, Instadebit supports both Canadian and United States dollars. They are currently exploring the possibility of adding more currencies in the future.

Can I get a refund on transactions made with my Instadebit account?

Yes. If a merchant or service issues you a refund for a transaction made with your Instadebit account, you will see those funds appear in your Instadebit account within 3 to 5 business days.

How can I get a merchant or service that doesn’t use Instadebit to accept them as a payment method?

The best way to convince non-participating merchants and services of the viability of Instadebit as a desired payment option is to tell them by email or feedback forms. The more you choose Instadebit-partnered merchants and services over other alternatives will also indicate your desire to have Instadebit as an available payment method.