Content:
- Why Interac?
- Which Canadian banks are partnered with Interac?
- How to deposit
- How to withdraw
- Are there fees for using Interac?
- Is it worth using Interac?
Canadian casino players have a lot of options to deposit with. But if you look at the options that allow withdrawals, their number is fewer. And if you don’t want to use your bank card, there’s Interac which offers both deposits and cash-outs for Canadian online casino players. Learn more about casino sites that accept Interac.
Why Interac?
Interac is an online banking option. It offers secure and fast payments for players and users who want to easily pay for goods and services on the internet. So let’s see all the reasons why Interac payment solution can be used for online gambling in Canada:
- It’s very simple to use. You can easily request a deposit or withdrawal from your casino platform and as easily transfer money from Interac to your bank account. Using Interac, you don’t need to insert additional passwords and other personal data.
- Free of charge. No additional or hidden fees are applied to transactions. However, depending on your casino site, charges may differ. Plus, you might be charged for transactions on the side of your bank.
- Secure payments. Interac has its own security measures, including encryption technology. It helps to protect players’ data and their funds.
- Available for online casino players. Interac e-Transfer is available at nearly all Canadian online casinos. So if you want to use Interac, you won’t face problems finding a gambling platform.
- Fast speed of transactions. Deposits are instant, but payouts take a little longer. Nevertheless, you can get money faster than if you used a bank card or bank transfer.
- Bonuses. When you deposit with Interac, you can claim deposit match bonuses and free spins at your online casino. Players who prefer Interac are eligible for any bonus deals.
As for the disadvantages of using Interac for online gambling, we’d highlight withdrawals. There are a few problems that players can face. First, not all Canadian online casinos provide Interac withdrawals. This is why you need to double-check this issue before using Interac. Plus, withdrawals take longer than deposits due to certain processes between the merchant and the bank. Finally, you might experience fees when withdrawing money. However, it depends on the casino and its payment policy.
Which Canadian banks are partnered with Interac?
Interac can be used only in partnership with a bank. So you must have a bank account at the banking institution that is partnered with Interac. Fortunately, most Canadian banks are. Here’s which banks in Canada work with Interac:
- TD Canada Trust
- First Nations Bank
- BMO
- Dozens of Credit Unions
- Scotiabank
- RBC Royal Bank of Canada
- CIBC
- HSBC Canada
If you don’t see your bank on the list, you can check if it works with Interac by contacting your bank's call center.
How to deposit
Deposits with Interac are straightforward and fast. It takes a couple of minutes and doesn’t take effort at all:
- Log in with Interac online casino and go to the banking page. Select to deposit.
- Look through the deposit options offered in the menu and tap Interac Online.
- Then, select your bank from the list of banking institutions.
- You’ll be prompted to sign in to your Interac account and complete the transaction. Don’t forget to enter the sum of money you wish to deposit. Mind the minimum and maximum limits.
- Confirm the payment and go back to the casino lobby.
Many casinos offer to select Interac e-Transfer from the list of payment methods. If you choose the e-transfer method, the process is slightly different. First, you need to type in the deposit amount and then log in to your bank. On the screen, you must add a new recipient and fill out the form according to instructions.
How to withdraw
You can use Interac e-Transfer to receive money from online casinos. The minimum amount to withdraw is CA$10. However, some online casinos in Canada can increase the minimum withdrawal limit to CA$20. When you send the request to the casino’s financial department, the operator will use your email to send your winnings. This is why you must be sure you’ve provided the correct email address. How to send a payout request:
- Again, go to the cashier page. But this time, select to withdraw.
- Tap on Interac e-Transfer and enter how much money you want to cash out.
- Confirm the request and wait for your money.
Usually, withdrawals with Interac e-Transfer are super fast. But it depends on how quickly your bank works.
Mind that you won’t be able to withdraw casino winnings if you don’t verify your account. So before requesting a payout, you’ll be required to send your ID to the casino. Only after your casino account is verified, can you safely withdraw money.
Are there fees for using Interac?
Nearly all online casinos that accept Interac don’t charge players. However, it doesn’t mean that you shouldn’t check terms and conditions because some operators still apply fees to transactions, no matter which payment system is used.
Interac itself doesn’t impose fees on customers or merchants. All the fees that you have to pay while using Interac are imposed by other parties involved in the process, such as your banking institution.
Is it worth using Interac?
If you appreciate fast, safe, and convenient payments, Interac is worth your attention. It’s a trusted company with years of reputation. It’s especially good for deposits, but if you want to cash out, you can use the same payment method, which is convenient. Because online casinos in Canada trust players who use the same option for deposits and cash-outs, they don’t delay withdrawals.
Moreover, the fact that your online casino is partnered with Interac proves that the casino platform is safe and reliable. If you have a bank account in Canada, it’s easy to use Interac since most Canadian banks work with the online banking solution. And even if your bank doesn’t support online gambling, Interac does, and it won’t block your transaction. This allows you to stay anonymous because Interac acts like a shield between the bank and the casino.
So if you’re looking for a method that will keep your banking data private, choose Interac.
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