Interac – convienient deposit method for Canadian online gamblers
Interac is a very popular online payment provider for players at online casinos, especially in Canada. It offers a safe, reliable, quick, and cheap transaction option. One of its main attractions is the ability to make anonymous transactions, making it a favored choice among many online casino players.
The growing popularity of Interac is the reason for this article. While it is mostly used by Canadian casinos and players, Interac is also gaining trust from players in many other countries around the world. This trust is due to their excellent service, low transaction fees, and the ability to process both withdrawals and deposits, making Interac a complete online payment service package.
In this article, we will explain how Interac works, what it offers, how to make deposits and withdrawals, the costs associated with using it, and the pros and cons of paying with Interac. Additionally, we will show you which online casinos accept Interac and highlight the best bonuses and promotions you can claim when paying with Interac.
Solid Canadian online casinos that offer Interac deposits and withdrawals
Not all Canadian online casinos accept the use of Interac as an payment method. Because of this you can have a hard time finding a reliable online casinos which allows you to use this payment solution. To make your life easier we have did some research and made a list of the best Interac casinos.
Check out the table below to find an overview of the best Interac online casinos that are available in your location. Sign up your free account now at any of these casinos to claim a generous welcome bonus.
What is Interac?
Interac is a Canadian banking network that allows players worldwide to process financial transactions with online casinos, provided they have an account with one of Canada’s five largest banks: RBC, BMO, Scotiabank, TD Canada Trust, or CIBC.
Founded in 1984, Interac has established itself as a very secure and reliable banking company. It constantly innovates to maintain these high standards. Although Interac primarily serves Canadians, its services are also accessible to people globally. Over the past decade, Interac has focused on enhancing its online payment services, making it one of the safest online payment transaction services available today.
Not all of Interac’s banking services are relevant to online casino players. Therefore, it’s important to understand which services they offer and which are useful for players at online casinos. Interac provides various financial services, and here’s a quick overview of them:
- Interac Cash: This is a service that allows Canadians to withdraw cash from 59.000 ATM machines all over Canada.
- Interac Debit: A debit card service for Canadian bank account holders.
- Interac Flash: Contactless payments where you can hold your bank card close to a merchants pin machine to pay for your purchases in their shop.
- Interac e-Transfer: Interac e-Transfer transfers give people the ability to transfer their money from one bank account to another quickly only using a valid e-mail address.
- Interac Online: With Interac online players can make payments like deposits and withdrawals directly from and to their bank account at their favorite casinos.
Interac online is the payment service we will review and explain to you mostly in this article as it is the most used service when paying at online casinos.
Interac in numbers
- Founded in 1984;
- 6.2 billion (!!) Interac Debit transactions (2019);
- 511.7 million Interac e-Transfer transactions (2019);
- 25.5 million average active Interac Debit users per month (2019);
- 16 million Canadian transactions per day;
We have got to say that these are some very impressive numbers.
Benefits of using Interac
The online payments services from Interac offer a lot of benefits to their users. Let’s give you a list of the most distinctive features and benefits of using Interac when paying at your online casino:
- One of the safest online payment services available;
- Anonymous financial transactions;
- Process transactions in your own currency;
- Quick deposits to your favorite online casinos ;
- Services available on mobile as well as on your computer;
- Widely accepted payment option;
- Low transaction costs;
- Cash out winnings directly to your personal bank account;
- No need to share your personal and financial information;
Making a deposit using Interac (e-Transfer)
Making a deposit using Interac as the online payment provider is very easy and no different than paying with a lot of other online banking options that are available today. Simply select Interac as the payment option and select your bank form the list of participating banks. Login using your online banking environment and finish the payment on the online casinos website. So if you want to use Interac to make a deposit you have to complete the following simple steps.
- Select Interac as payment option on the casinos website;
- Choose your bank from the list of available banks;
- Login to your online banking service;
- Complete the transaction at the casinos website;
- Game on!;
Well done, that was all there is to it! You have now successfully made a deposit using Interac as the online payment provider and you are ready to enjoy all the benefits these Interac casinos have to offer. Deposits are instant and should be in your online casinos balance within minutes, if not seconds after completing the transaction.
Making a withdrawal using Interac
A great feature of Interac is the ability to make withdrawals directly to your personal bank account. If you want to cash out your winnings after playing, you can use Interac as the withdrawal provider.
To make a withdrawal, simply choose Interac when you’re ready. Log in, select the amount you want to withdraw, and complete the transaction. The process is just as easy as making a deposit.
While deposits are instant, withdrawals take a few working days for the bank to process. You should have the money in your account within two to four days. Although this isn’t the fastest option, it’s comparable to most payment solutions for withdrawals.
Once the money is successfully transferred into your personal bank account, you can spend it as you wish!
What does it cost to use Interac?
Interac charges users a small fee for handling their transactions. Given the wide range of banking and payment services Interac offers, there is a list of transaction fees that vary based on the amount, type of goods, and the country.
To find out exactly what you will need to pay, check their informative website, which provides a transparent list of all their costs and fees. For deposits, fees range from C$0.25 to C$1, while withdrawal fees are between C$1 and C$4. These fees are very reasonable.
Online casinos should inform you about these fees before you process your transaction using Interac. Most casinos have a Payments section on their website that lists all payment providers and their transaction fees. Be sure to check this page before making a deposit or withdrawal to avoid any unforeseen costs.
Recommended online casinos that accept Interac deposits – our top 10 selection
Our team of professionals has worked hard to find the best Interac casinos on the internet for our visitors. Over the past few months, we conducted extensive online research to compile a list of top-notch online casinos that offer Interac as a payment solution.
The casinos on this list allow you to claim all their bonuses and promotions and make deposits and withdrawals using Interac. By using the links provided, you will be redirected to their websites, and any available bonuses and promotions will be activated for you.
These Interac casinos offer exciting games, excellent gameplay, and generous bonuses and promotions. So, pick your favorite from the list and try your luck at one of these top Interac casinos.
Let’s find out which casinos our team has identified as the top Interac casinos at the moment:
- One Casino;
- Spin Casino;
- PlayGrand;
- TurboVegas;
- CasiGo;
- Caxino;
- Slotwolf;
- N1 Casino;
- Jonny Jackpot;
- JackpotCity;
All the online casinos on this list have been extensively tested by our team and they have proven to be 100% safe and reliable to play at. Try them out and see if you can win big at one of these excellent casinos today!
Drawbacks of using Interac
Interac offers many advantages and excellent service for online casinos and their players. However, like most payment services, there are some downsides to using Interac.
One of the biggest drawbacks is that Interac isn’t free. There are other payment services that provide similar features without charging transaction fees. While these services might not offer the same level of security and safety as Interac, they do come at no cost.
Another disadvantage is the transaction time. Processing a transaction, especially a withdrawal, can sometimes take a while. This delay can be frustrating for players who want quick access to their funds.
Additionally, not all casinos support Interac as a payment service. Although this isn’t directly Interac’s fault, it still limits its availability.
To use Interac, you need a bank account at one of the five major banks in Canada. This requirement means it isn’t accessible to everyone.
- They charge transaction fees;
- Transaction times can take a while sometimes;
- Not all online casinos accept Interac as a payment option;
- Exclusive to the users of the 5 largest banks in Canada;
Conclusion
Interac is an excellent online payment provider, especially for Canadians. It is safe, reliable, anonymous, reasonably cheap, and easy to use. Additionally, it offers a withdrawal option and is widely accepted by many online casinos today.
While there are some negatives to using Interac, the advantages clearly outweigh them. One of the biggest benefits is the wide availability of bonuses and promotions you can claim when using Interac as a payment option.
All the casinos mentioned in this article offer these bonuses and are excellent, safe places to play. Therefore, we highly recommend using Interac as an online payment method at all these reviewed casinos, especially if you are Canadian.
We hope you get very lucky when playing with the bonuses and promotions available to you as visitors of BestBettingCasinos.com.
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