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Interac Casino Payment Option

Since the organization was founded, Interac has only grown in popularity over the years. Widely known for secure online payments, the company remains exclusive to various banks within Canada.

Interac is a debit payment service that links directly with your bank account. It has become integrated into all major Canadian banks and credit unions which is part of the reason that it has made casino deposits and withdrawals so seamless.

To send funds using Interac the recipient’s account details are not necessary. All that is required is a valid email address or mobile number and the transaction can be made. Since the funds are coming directly from your account there’s no need for additional registrations and no risk of overdrafts.

Interac and Real Money Casinos

When it comes to online gambling and real money casinos, the appeal of Interac as a payment method is without question. Hiding your personal information from online operators adds an extra level of security and since the service is partnered with your bank you still receive all of the protection offered by your financial institution.

The best online casinos in Canada have taken full advantage of its popularity, not only extending its benefits to their players but also offering various promotions and bonuses for utilizing the service.

Interac has become one of the most widely used payment methods for online gambling in Canada and it can be found as an option in most Canadian casinos.

The most common service is known as Interac E-Transfer although some Casinos also offer the Interac Debit option.

Interac E-Transfer

Interac E-Transfer utilizes an email address or mobile number to confirm the transfer of funds. This option is frequently used by many financial institutions, online operators, as well as transfers between friends and family. The online Interac casino will provide you with an email address or mobile number to use when conducting the transfer. The funds are then transferred directly from your account.

Interac Debit

Interac debit is not as widely available yet some people prefer this method when it is offered. As the name implies an Interac Debit card is used instead of a direct transfer. While the process is similar to using a normal debit card, this can provide additional security and avoid providing online operators with your bank card details.

What is Interac | Viabonus.com

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Pros and Cons of Using Interac

While we have mentioned a few of the benefits of using Interac casinos online let’s have a closer look at why it’s become such a preferred payment method and if there are any downsides to the provider.

Advantages

  • Security

The fact that Interac is widely accepted in over 250 banks in Canada goes to show its reliability. Financial institutions only partner with the safest and most secure operators and Interac ticks all the boxes.

By using Interac for online transfers there are inherent security measures that come with it. Not only does this allow you to withhold your details from online casinos but it provides a level of insurance not offered by other methods.

Interac has what they refer to as their Zero Liability policy. This means that if fraud is detected and proven, your missing funds will be returned to your account without issue.

  • Transfer Fees

Interac has become known for its notoriously low fees for all kinds of transfers. While this is always a bonus, when it comes to online gambling it’s arguably even more important. There’s nothing worse than seeing a chunk of your winnings go to unnecessary banking fees.

One of the best things about Interac Casinos in Canada is that any fees that may be included are commonly incurred by the casino itself as an incentive for their players.

Even if your chosen gambling site doesn’t absorb the fees there is no need to worry. Most deposits tend to be free and any fees that do arise are usually limited to $1-$1.50.

  • Payment Speed

Whether you need to make a quick deposit so you can begin playing as soon as possible, or it’s time to reap the benefits of your payouts, payment speed is one of the most important factors when choosing a banking method.

Yet another area where Interac excels, payments are processed immediately in real-time. Deposits generally happen within minutes but can take up to a maximum of 30 minutes in some cases. Withdrawals are also processed immediately by Interac but the time it takes to access the funds can vary substantially.

Any delays that do occur aren’t usually at the fault of Interac. The times it takes to make withdrawals greatly depend on how quickly the Interac casino processes the request. The fastest paying online casinos will process the payment within 1-2 days where others may take up to a week.

  • Ease of Use

Unlike many third-party e-wallets, Interac is partnered and linked with your bank. That means there is no need to register, create new logins and passwords, or transfer money between your account and the service provider.

When depositing in an online casino the funds come directly from your account in a secure fashion, yet it avoids overly restrictive verification processes. It’s an excellent balance that only improves your experience.

Additionally, many Interac online casinos offer the option to use the service for both deposits and withdrawals. While there are various alternative payment methods for deposits, this is not always the case for withdrawals with some providers.

Additionally, Interac has just acquired SecureKey which is a leading Digital ID and authentication provider. This will only stand to improve and streamline the user experience while further improving security as well.

Disadvantages

  • Limitations

We say limitations very lightly as there aren’t many to mention. Regardless, it’s worth covering any restrictions that you may find with the service.

Firstly, Interac is only available in Canada. However, since you’ve managed to find yourself on our page of the best Interac casinos Canada 2021, we are going to take a wild guess and say this likely won’t affect you.

As we mentioned, Interac is used by over 250 banks within Canada and this includes the most popular branches. Yet there are still a few banks that may not offer the service, however small in number they may be.

  • Bank Statements

The fact that Interac links directly with your bank account is one of the primary reasons it provides such a seamless transfer method. This is great as it makes transfers quick and easy but it also means that the payments will show on your bank statement.

While this is a non-issue for many, some people prefer that gambling transactions do not appear on their statements and may choose a different payment method for this reason.

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How To Deposit With Interac?

How to deposit with interac | Viabonus.com

Once you have chosen a reliable Interac Casino in Canada the deposit process should take no time at all. While it may vary slightly depending on the site it should resemble something similar to the following.

  • Log in to your online casino account
  • In the cashier section select the deposit option
  • Choose Interac for the payment option
  • The casino will provide either an email address or mobile number, make note of this
  • Log in to your online banking
  • Select the option to make a transfer using Interac and enter the amount to transfer
  • Input the email or mobile number provided by the online casino for the recipient information
  • Select send and confirm

And that’s that. You should be able to get on with your gaming within minutes. As Interac performs transfers almost instantaneously it will depend on how long it takes the casino to process the funds.

How To Withdraw the Winnings With Interac?

While withdrawals may not always be available with Interac, It’s a great option if they are. As the service is linked directly with your account this eliminates any unnecessary delays when waiting for your funds to arrive.

Again the process may vary depending on the provider but it will likely be something like this.

  • Login to your Interac casino account
  • Select the withdrawal option from the cashier section
  • Choose Interac as the preferred banking method
  • Enter the amount to be withdrawn
  • Provide any transfer details requested by the casino
  • Confirm and withdraw

The funds should be available relatively quickly compared to many other banking methods. Depending on the Interac Casino the funds should arrive in your account within 1-7 days. Then it’s just a matter of deciding how you’re going to spend your winnings.

 

Frequently Asked Questions - Interac

Yes. Interac has been partnering with financial institutions in Canada since its founding in 1984. It has only continued to grow in reliability and live up to its reputation becoming the online transfer service we know and love today.

Interac partners directly with your bank and links to your bank account. This means the service has been vetted and verified by your bank. Additionally, they offer a zero liability policy that reimburses any lost funds due to fraud.

Yes. As long as your bank is linked with Interac and you use one of the many online Interac Casinos in Canada. Not only is it possible it’s one of the most preferred transfer methods for Canadian gamblers.

Deposits using Interac are available with any of the recommended sites in our list of the top Interac Casinos in Canada 2021. It’s as simple as logging in to both your casino account and banking account, entering the casino’s recipient information, and confirming the amount you would like to send.

Anybody is welcome to use Interac although its use is exclusive to Canadian banks and credit unions. While Interac is offered by over 250 financial institutions in Canada there are a select few who do not use the service.

As long as your bank is linked with Interac, all you will need is a valid email address and/or mobile number.

No. Not all online casinos accept Interac as a viable payment method. However, due to its popularity within Canada, many of the best online gambling sites in Canada offer Interac for deposits and withdrawals.

In most cases, there are no fees from Interac when receiving transfers. There may be a small fee when sending money using Interac but this tends to be limited to around $1-$1.50.

It’s common for many Interac casinos to absorb any necessary fees as an incentive for players to utilize the service.

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Final Thoughts

Given the safety, speed, and ease of using Interac for online gambling, it’s no wonder why Interac casinos are some of the most sought-after sites by Canadian gamblers. Luckily, given its popularity, most legitimate online casinos in Canada offer Interac as a viable payment method.

Yet not all Interac casinos are created equal. Be sure to see our list of the best Interac Casinos Canada 2021 for some of the top sites available today.

Here at Viabonus, we provide you with the most up-to-date information and we constantly revise our recommended sites to help you get the best online gaming experience possible. You’re sure to get the best bonuses, fastest payouts, and best games when choosing from our list of top Interac Casinos in Canada.