- This payment method is instant, and withdrawals are relatively quicker than other options such as Bank Transfer, Western Union and so on.
- Interac has a debit card service, so it eliminates the possibility of falling into gambling debt.
- This service protects your details, so your financial transactions are safe and secured.
- Canadian financial institutions widely accept it, so many banks in the region will be compatible.
- There are applicable processing fees when using this payment method
- It only caters to Canadians, so international usage is restricted.
What is Interac?
Interac is a Canadian payment service created to act as an intermediary. It works to link financial institutions to other companies, which takes away the stress of banking transactions. Founded in 1984, this interbank network has been providing effective solutions to partners for over 35 years. Unlike most e-wallets, Interac connects your online banking account with the payment section in supported casinos.
It is affiliated with over 250 banks, financial institutions and other credit unions such as:
- First Nations Bank
- RBC Royal Bank of Canada
- TD Canada Trust
With Interac e-Transfer, users can experience even greater convenience. You can send, request and receive money anywhere and anytime as well as cash-out from online casinos. New online Canadian casinos endeavour to include Interac among their payment methods because it is so reliable. Also, users can manage their funds locally and internationally through money transfer.
How does Interac Casino Work?
Interac works as an intermediary between you and your bank. Your personal information is kept away from prying eyes when making transactions. Interac replaces your banking details and personal data with a token to get hold of it. With e-Transfer, transactions are carried out in near real-time. Interac e-Transfer requires a security question and answer from both ends unless the beneficiary has registered Autodeposit.
Payment methods are a deciding factor when choosing a gaming operator. With this in mind, Interac Casinos provide the utmost safety and security. To use this platform, first, you have to sign up with the operator. Then, you make the initial deposit by selecting Interac as the mode of payment. After that, you can start betting on your favourite games. To cash out winnings, choose Interac again and wait to be credited.
How Do You deposit at Interac Casino?
We gave an overview of how Interac Casinos work, now we will explain how to go about deposits in detail.
- Log in to the casino site (if you do not have an account, sign up and complete the registration process)
- Read the instructions for using the payment method, as stated by the operator.
- Head to your bank’s online website and choose to pay with Interac online.
- You will receive a prompt to write down the deposit sum.
- Fill in the name of the gambling venue of your choice or the email address of the casino.
- Press send.
- The system will send a security question to your email address, reply, and confirm the transfer.
- When the answer has been received, you will get notification of a successful deposit.
- Return to the casino site and start playing.
Deposits are almost instant, and the entire process takes only a few minutes to complete. As earlier mentioned, this experienced payment platform greatly values security so you can gamble with peace of mind.
How to withdraw from the casino using Interac
Withdrawals generally have a lot more restrictions than deposits do. This is partly due to safety precautions and the incompatibility of payment methods with business enterprises. Luckily, this platform can be used for deposits as well as withdrawals. To complete the process, simply carry out the following steps:
- Head to the withdrawals section.
- Select Interac as the desired mode of payment.
- Choose the amount within the permitted limits for the casino that you want to cash out
- Proceed to cash out.
What limits and commissions for deposits and withdrawals are there?
The deposit and withdrawal limits on Interac Casinos depend on the specific operator. For instance, Jackpot City is set at $4,000 per week, Genesis casino is set at $22,000 per month, whereas LeoVegas casino has no withdrawal limit.
The commission for transactions, on the other hand, has a flat rate. Deposits are set at $1 and withdrawals at $4, irrespective of the amount involved.
Security measures and safeguarding your money
Safety is a significant concern for all online gambling stakeholders. This payment method has been proven to be one of the safest and most secure in Canada and for a good reason too. Interac cards use chip technology to protect against fraud. EMV secure chip processing manages data securely and eliminates cases of counterfeit cards, electronic pickpocketing and transaction replay.
Passcode verification, Touch ID and the EMV Chip Technology provide bank-level security for mobile transactions . It follows the latest protocols concerning fraud detection and prevention, so you have very little to worry about. Working with so many banks and financial institutions is a guarantee that Interac is doing something right. Seeing as it only works with the best, the majority of its partners have 24/7 customer support. They lend a helping hand at any moment of the day with prompt and efficient replies.
We have established that Interac can be considered a safe payment choice for online casinos in Canada. With speedy transactions and good customer service, they tick all the right boxes and are classified as some of the best in the world. As long as your pin is not disclosed to any third parties, Interac does its part without fail. Having continuously provided excellent service for so many years, it is the ideal option for Canadian online gamers.
Our team expert Thomas Morrison regards Interac as the best online gaming payment method because it is quick and secure. The debit card created by the company helps players to curb excessive spending. The card can be used for both withdrawals and deposits on online casinos, and with several financial institutions in Canada.