Interac: The biggest bank transfer service
Interac is one of the biggest financial services companies in Canada. Their main products concerning online casinos in Canada are Interac Debit, e-Transfer and Online. All of which allow players to deposit and withdraw money from their accounts. Most online casinos work with one or several products from Interac in Canada. Interac opened its doors in 1984 and is a preferred choice when it comes to online payment and moving funds outside the country. Interac collaborates with more than 200 major Canadian banks. As such, Interac in Canada has a huge network and can provide their payment services to most residents.
Deposit at an online casino with Interac in Canada
What is Interac?
Interac is one of the biggest financial services companies in Canada. Their main products concerning online casinos in Canada are Interac Debit, e-Transfer and Online. All of which allow players to deposit and withdraw money from their accounts. Most online casinos work with one or several products from Interac in Canada. Interac opened its doors in 1984 and is a preferred choice when it comes to online payment and moving funds outside the country. Interac collaborates with more than 200 major Canadian banks. As such, Interac in Canada has a huge network and can provide their payment services to most residents. Interac offers six different services, whereas two are commonly available in Canadian online casinos:
In order to utilize Inter e-Transfer, you need to log in to your online bank service and locate services related to Interac. In this case, the settings for e-Transfer. Insert the details asked for. Once confirmed, you will be able to make payments by only providing your phone number, address and the click of a button. Far from all financial institutions support e-Transfers, but the number is considerable and growing. Chances are your bank supports Interac e-Transfer.
Interac Online is similar to the other two options, with the difference that you do not have to enter any personal details in the online casino interface. Interac Online is similar to instant banking payments like Trustly, which is revolutionizing the online casino industry in Europe. When you deposit money in an online casino using Interac Online, you will be presented with an Interac login screen. Log in to Interac and follow the payment instructions and confirm the deposit. A lot of banks support Interac Online in Canada. This is a favorable method if you have concerns about your privacy.
The advantages of using Interac in Canada
Transfers related to online casinos show up as an Interac transaction in your bank statement, not specifically an online casino transaction. Availability is one of the main advantages of using Interac as a payment method in online casinos. As we highlighted, this is a national payment service that has been operating since 1984 and is compatible with over 250 financial institutions across Canada. Many online casinos accept Interac. Another positive aspect of Interac is the different modes of payment and ease of use. Interac is highly respected and prioritized by banks. As such, many banks will work with the different products from Interac, including Debit, e-Transfer and Online. This provides you with plenty of options, all of which are easy to use. Interac in Canada leverages the latest security technology within the online payment industry. Using Interac provides you with peace of mind that your transactions and financial information are safe at all times.
Disadvantages of using Interac
To be honest, there are not many disadvantages when it comes to using Interac. One disadvantage could be that Interac is not available in all online casinos to the extent that, e.g. Visa and MasterCard are. However, if you have Interac as an option, you should go with it as long as your financial institution is compatible.
Online casinos in Canada that accepts Interac
How to deposit to an online casino using Interac e-Transfer and Online
Deposit in an online casino using Interac e-Transfer
Start by going to the payment method section of your online casino or simply find and hit the 'Deposit'-button (often located in the top-right corner of the site). Choose Interac e-Transfer and:
Enter the amount of money you wish to deposit
Confirm the amount
Select your bank you are going to transfer funds from (there will be more options available than Interac Online)
After selecting your bank, you will be forwarded to the Gigadat payment gate
Here you will find details about the recipient (in this case, the online casino), your deposit amount, message and security question
Fill out these details in your bank
Once the process is complete, your money will arrive in the online casino account instantly
Deposit in an online casino using Interac Online
Start by going to the payment method section of your online casino or simply find and hit the 'Deposit'-button (often located in the top-right corner of the site). Choose Interac Online and:
Enter the amount of money you wish to deposit
Confirm the amount
Select your bank you are going to transfer funds from
After selecting your bank, you will be forwarded to the payment gateway
Follow the instructions given by your bank and confirm payment
Your money will arrive in the online casino account instantly
Fees and withdrawal times when using Interac
Fees can occur when depositing money through Interac to your casino account. When you are charged for Interac transactions relating to online casinos in Canada, the fee will be small. Rarely would you have to pay more than $1.50 Canadian dollars for a transaction. This is much cheaper than other payment cards like Visa and eWallets like Skrill and Neteller. When withdrawing money, you should opt for e-Transfer. It is more convenient. If your bank collaborates with Interac, the money usually arrives in your account within minutes. If your bank is not collaborating with Interac, then the withdrawal will take longer - typically 3-5 banking days.
How does Lucky7Bonus choose the best online casinos that accept Interac in Canada?
The Lucky7Bonus team is made up of both gaming enthusiasts and online casino industry veterans. We know online casinos from both the player perspective and the operational perspective. We strive to have an unbiased approach when reviewing and evaluating online casinos. The editorial team will scrutinize the texts written by our reviewers. Besides our own personal experience of playing in all the different online casinos, we also back all our information up with data and research. The goal is to produce honest and independent casino reviews that give a fair presentation of the reality of different online casino sites.
Conclusion Interac in Canada
Whether you are initiating a payment from your mobile or desktop, Interac is one of the most convenient options for Canadian players. Interac e-Transfer is the preferred option between that and Interac Online. With e-Transfer, you can enjoy instant deposits and withdrawals while leaving no trace of your financial details with the online casino operator. Interac or your bank may charge you a small fee, but this rarely exceeds 1.50 Canadian dollars. Over 250 financial institutions are compatible with Interac. The one drawback is that not all online casinos accept Interac payments in Canada. One of the best things with Interac is that the transfer details will show as Interac and not specifically that it was a casino deposit. You are always eligible for casino bonuses when using Interac.
FAQ Interac in Canada
Is my private data secure when using Interac in online casinos?
Yes, your privacy is protected at all times when using Interac. Especially Interac Online is preferred if you have privacy concerns as you will not have to provide any financial details to third parties.
Is it safe to use Interac in online casinos?
Yes, Interac is an extremely safe payment method and as long as you avoid unlicensed illegal gambling sites. In the event that your Interac is compromised, they have a Zero Liability Policy, so any funds lost will be reimbursed in full.
Do I have to pay any fees using Interac in Canada?
Online casinos will never charge you a fee, but Interac may charge you a fee. When they do, it is a microtransaction fee and rarely exceeds $1.50 Canadian dollars.
Is Interac available in all online casinos in Canada?
No, far from all online casinos accept Interac in Canada. You will be happy to find that the biggest and best online casinos accept Interac, though and that more and more online casinos are accepting it with every passing day.
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