Learn all about using Interac in our guide below, and compare which online casinos in Canada accept Interac.
There are many options when it comes to depositing and withdrawing funds from your online casino account. One of the best options for Canadians is the use of Interac.
Interac is a well-known payment method that dates back to 1984. Interac allows for the transfer of money between an Interac online casino and an online bank account without the need to share extensive personal or financial information.
Interac is associated with a debit card, meaning users only have access to money that is currently in their bank account. This is contrary to Visa transactions, which offer access to borrowed funds. The use of Interac is therefore often seen as an advantage, as it prevents users from spending money that they don’t have.
The Interac methods offered online include:
Both Interac Online and Interac e-transfers are popular methods for depositing and withdrawing funds from Canadian online casinos.
If you’re unfamiliar with these methods, or just want to learn more, we’ve created a complete guide to using Interac Online and e-transfers with online casinos. We’ve also put together a list of online casinos that accept Interac as a payment and withdrawal method.
Ready to learn more? Read on to discover:
Not all Canadian online casinos support Interac payment methods. However, several do.
Interac is a fast and convenient payment and withdrawal method. Therefore, we’ve put together a list of the top-rated online casinos that accept e-transfer and Interac Online.
The best Interac casinos include:
Interac e-transfer offers a secure online payment method. E-transfers can be used to transfer funds from a Canadian bank account to another company, person, or online casino. More than 250 institutions, including the big five banks in Canada, offer E-Transfers. This includes:
Please note: Most financial institutions in Canada offer e-transfer services. If you bank with an institution that is not one of the big five Canadian banks, check with your financial service provider to ensure they offer e-transfers.
Above all, this type of payment method protects sensitive financial information and offers a safe way to exchange money online. Money can be sent and received by simply entering an email address or phone number.
When using e-transfers with Interac online casinos, an email address and security question will be provided by the casino. Using this information, you can send money from your bank account to the online casino. However, unlike with Interact Online, payment cannot be done directly through the online casino. First, you must log in to your bank account. From there you can complete the transfer.
To deposit funds into your online casino account using Interac e-transfer, complete the following steps.
You can also use Interac e-transfer to withdraw funds. Withdrawing winnings via e-transfer is simple.
Please note: Before you make a withdrawal from your online casino account, you will need to confirm your identity, address and payment method, in some cases. Not all details will be required for all transactions but a complete verification process will be required before your first withdrawal.
Interac e-transfers do have a transfer limit. Although this may not be ideal in all circumstances, limits do have their purpose. E-transfer limits are used to:
Some of the most common e-transfer limits among Canadian banks are:
Most Canadian banks offer free e-transfers. However, this depends on the type of account that the customer holds.
If your bank account does not include free e-transfers, you may be charged $0.50 - $1.00 per transfer. The fee depends on the amount of money you are sending.
Interac Online is a quicker way to transfer funds however, this option is less widely available. Interac Online allows you to transfer money directly to or from your bank account using a third-party payment platform.
When using Interac Online, you will log into your bank account directly through the payment platform. There is no need to use an email address or security question in this case.
Here’s how to use Interac Online to deposit money into your online casino account:
Withdrawing money from your online casino can also be done through Interac Online. Here’s how to withdraw money from an online casino using Interac Online.
Most Canadian banks have an Interac Online daily limit of $100. This amount can be increased for those who use the option frequently and require a higher limit. However, this limit will remain low for newly enrolled customers.
Interac charges the company, rather than the customer, a fee for each Interac Online transaction. In this case, the casino would pay the user fee to Interac. Most online gambling sites will absorb this cost. However, some casinos may pass along the fee to users. In this circumstance, you may see the fee come through as a service charge.
Advantages of e-transfer
Disadvantages of e-transfer
Advantages of Interac Online
Disadvantages of Interac Online
Thomas is responsible for all content on BettingGuide Canada. With his extensive knowledge of the gambling industry and college degree in law, he knows what you should look out for when choosing the best casino or sportsbook.