Interac is a handy network of the major banks in Canada along with a few other financial institutions that facilitate digital payments. Established in 1984, Interac has become a popular transfer solution for Canadian online gamblers.
Essentially, Interac is like a debit card, but it is globally recognised by the likes of MasterCard and Visa. Online casinos that accept Interac as a payment method provide Canadians with a method that is easily available. It’s the chance to make instant deposits and withdrawals, all with top security measures in place and low fees.
To fund your casino account and withdraw your winnings, you need to open an account with a financial institution that supports Interac. Once you sign up with a casino, and you decide to choose Interac as your preferred payment method, all you have to handover to the casino is your mobile number or email address.
Pros and Cons of Interac
Interac offers a few different services, each with its pros and cons. On the upside, it is a fast payment method that is incredibly safe and secure, charges a standard transaction fee and works with Canadian dollars.
On the downside, however, Interac casino deposits are only available in Canada with not all online casinos accepting it as a payment method just yet.
Interac as a payment method for online casinos is super safe. That’s because you don’t need to transfer personal details. The service uses the latest fraud detection tools and chip technology means it is virtually impossible to create counterfeit cards. You can even make mobile payments using passcode verification and touch ID.
Canadians love the convenience of playing on the move, which you can do with mobile casinos. But you also want to be able to fund your casino account and withdraw your winnings on the go. With Interac, you can do that. Even at mobile casinos, Interac deposits are instant, and you can still request withdrawals to your Interac account. If your financial institution allows for mobile banking, it means you can use Interac at mobile casinos that accept this payment method.
The Best Interac Features
By far, though, the best part about using Interac for online gambling is that transactions are instant, which is important when you want to get on with playing your favourite casino games. Wire transfers and methods like PayPal can take a few hours to a few days to process. But with Interac Canada transfers, deposits to your casino account are immediate and withdrawals only take a few hours or a few days at the very most.
If you want to deposit funds into your casino account using Interac, you’ll be pleased to hear that the entire process is incredibly fast, secure and simple. There’s no need to set up a separate Interac account and you won’t have to pay any costs. Best of all, transfers are instant. You also don’t need to hand over reams of personal information. All it takes is a couple of quick steps.
- Register at your preferred Interac online casino and click on the virtual cashier
- Choose Deposit to fund your account
- Choose Interac Online as your preferred deposit method
- You will be redirected to your financial institution, which you can choose from a list that’s made available at this point
- Log in to your financial institutions’ portal and choose Interac to make your deposit
- Confirm the amount you would like to deposit into your casino account
- Complete the transaction
- Your funds will be transferred right away, so you can start playing casino games for real money
Each and every deposit and withdrawal you make with Interac is safe and keeps sensitive information that is needed to set up an account and link to your bank account secure. This is arguably the most important factor when deciding which online payment method to use for your casino gaming. Best of all, no financial or personal information is shared with the online casino – only the information needed to register a player account when you sign up.
Interac is linked to some of the most preferred Canadian banks, including RBC, Scotiabank, BMO and several other large financial institutions. As a result, Canadian clients of these banks can access Interac to play real money casino games online.
Overall, Interac as a payment method is one of the most secure and trusted ways for Canadians to fund their player account and withdraw their casino winnings. It’s a highly secure banking method that doesn’t require you to set up a separate account or go through a long process just to get started. In fact, within minutes, you can safely deposit funds into your casino account and start playing your favourite online casino games at those platforms that accept Interac as a payment method for Canadian players.
Take a look through our top list of licensed and secure online casinos that we recommend for Canadian players, many of which do accept Interac as a preferred banking method.