Interac Online Casinos
Interac is a Canadian debit network that provides secure payments for goods and services directly from the bank account. Today, it is widely thought to be the leading payment option in Canada and makes up around 30% to 70% of all transactions in this country. Customers who would like to use it for gambling purposes must have an account with a participating financial institution in this country. If the customer’s bank is not linked to Interac e-Transfer, funds cannot be sent or received.
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Interac: Fast, secure and simple
These are just a few great benefits pertinent to this payment option that users from Canada can find in many casinos:
- Safety of personal information: all Interac payments to and from an online casino are processed by means of online banking, implying a player is not required to provide their card number, login details, passwords and other personal credentials to the online casino or other third party
- One of the fastest ways to deposit to an online casino and receive winnings, since money usually arrives in under 15–30 minutes
- Low deposit fees. The cost of transaction is represented at the flat rate of about CA$1 (see below) and this is a good deal if the player is going to deposit large amounts.
Interac payments on mobile devices
No dedicated apps for Interac are available. However, a player can use this payment option by entering a mobile browser and doing exactly the same as on desktop PC. Besides, Interac Online can be used through Google Pay and Apple Pay with no need to specify card numbers or disclose other personal information. An online casino player just needs to check out if his bank offers Interac service for Google Pay or Apple Pay.
Interac deposit to online casinos
Online casinos that use Interac usually provide simple instructions of how to get the money transferred to the casino balance. Before making a deposit, a player needs to make sure the account currency is CAD, otherwise Interac will not be available. There are a few easy steps to making a deposit to the online casino:
1. Enter the cashier, choose Interac and click on the pre-selected amount (or enter your amount) you wish to deposit to the casino
2. You are then directed to an online banking page and asked to select the financial institution where you have the CAD account. Alternatively, you can select the province (territory) and the credit union
3. You must log in to the online banking portal of your bank and fill in the following information: recipient name, recipient email, amount, security question and answer.
A transaction must be completed within 10 minutes, otherwise it will expire. A customer may deposit up to CA$3000 per day using Interac e-Transfer, though some online casinos and financial institutions may impose lower limits. Generally, it takes around 15–30 minutes for a transfer to be received by the online casino.
Interac withdrawal from online casinos
This is perhaps one of the quickest ways to receive money from any gambling site. It’s worth noting that some online casinos that accept Interac do not always have Interac withdrawal available, so make sure to check this in advance.
Transaction fees in online casinos with Interac
Fees are not uniform for Interac e-Transfer / Online transaction because every bank sets its own commissions. For example, Royal Bank (RBC) takes no commission for personal checking accounts and CA$1.00 per e-transfer sent from a savings account. The National Bank of Canada is another major institution to offer Interac service, and it applies a CA$0.95 transaction fee.
In general, sending funds to online casinos that accept Interac costs about CA$1–CA$1.50 in most banking facilities and credit unions. In some cases, a fee is not charged if the customer has an appropriate banking package.
The above points are also applicable to cashing out from a casino account. The online casino never charges a commission by itself. Any fees (typically, CA$1 to CA$1.50) taken for this kind of transaction originate from the player’s bank, depending on the player’s bank.
Other payment methods popular at Canadian casinos: Interac, Visa, Mastercard, iDebit, Instadebit, Paysafecard.