Play casino with Interac Online
When a player opens an account at Canadian online casinos, he usually thinks about the most important thing for them – to get some entertainment and also win some money. You should fund your account at the casino first. As you understand, the banking methods used to fund account and cash out winnings is one of the key points you need to pay attention to before signing up at a new Canadian casino.
Canadian players can face some difficulties in managing and storing their money instantly and securely. Interac is one of the newest, safest and fastest payment options at Canadian online casinos. Interac allows Canadian players to fund their player accounts by transferring fund directly from their bank account. Players will get benefits from smooth, quick and secure transactions.
Deposit at casinos with Interac online
Depositing into a casino account via Interac is always risk-free for Canadians. This payment system is run by Gigadat, Gigadat cooperates with all major and local trusted banks in Canada. There are two options with Interac: Interac Online and Interac E-Transfer.
Interac Online was developed first, and is supported by 3 major banks:
- First Nations Bank of Canada
- TD Canada Trust
- Royal Bank of Canada
Interac E-Transfer is the newer kid on the block, also 100% secure, and supported by Canadian Imperial Bank of Commerce
- Credit Union Central of Canada
- And all local and smaller banks across the country.
How to make Interac Online deposits at Canadian online casinos?
- Register at the casino that supports Interac Online deposits like Stay Casino or sign in if you already have account.
- Go to cashier at your casino account and choose the Interac Online deposit option.
- Decide the amount you would like to deposit, and click through to sign into your internet bank account.
- Confirm the deposit amount which you want to transfer to the casino.
- Press the button “Send” and Interac will process your payment. Shortly after that, it will show up in your casino account, and you are ready to play.
Interac E-Transfer goes slightly different:
Choose the Interac E-Transfer in the cashier of your casino account, and follow the below instructions: (make sure to complete all the steps to avoid delays)
Log into your personal bank account, and select the “Interac E-Transfer” option.
Fill in all details that are requested on the pop up (this is just an example, don’t use the same ID number”.
Please note that Interac is a rather new Canadian casino payment method. Not all Canadian online casinos allow players to make deposits via Interac. But you can find it at Stay Casino, rising star and a solid partner for the Canadian online casinos market.
Want to learn more about Stay Casino? Check out our review.
Bonuses at Interac Casinos
New comers, choosing Interac deposits at Canadian online casinos, get the opportunity to receive the best welcome packages and various casino promotions and raffles.
Interac casinos like Stay Casino offer splendid deposit bonuses and free spins to start your casino journey with the good steps.
Using Interac As Payment Method At Online Casinos
As the online casino industry is reaching its peak in popularity in Canada and globally, these operators must make sure that they meet the individual preferences of players. That also includes the payment methods, as many countries around the world may have some restrictions for some methods.
Additionally, a large number of players might prefer one payment method. Such is the case in Canada. While some players in this country may prefer methods such as credit and debit cards, a big majority of Canadian players are looking for online casinos that accept Interac. The reason why is that Interac eTransfer is actually based in Canada.
We are going to take a deep dive into this payment method and help you get familiar with its history, top online casinos that accept it, how to deposit and withdraw funds using Interac online, its pros and cons, and then some. Let’s dive into the details.
Quick History of Interac
As mentioned earlier, Interac is a Canadian interbank network that allows people to exchange finances online. It was founded in 1984 under the name Interac Association. At the time of its establishment, Interac was a joint venture between RBC, CIBC, Scotiabank, TD, and Desjardins. By 2010, 80 organizations joined its network.
During this period, the company had a few merger attempts, but they were blocked by the Competition Bureau. After several tries, Interac and Acxsys finally merged and created Interac Corporation on February 1st, 2018. These days, there are around 59,000 ATMs that can be accessed through this network. Not only that, but over 450,000 locations are accepting it as a payment method.
There are a total of 4 Interac services available to its clients:
- Interac Direct Payment (IDP)
- Shared Card Dispensing (SCD)
- Interac e-Transfer Service
- Interac Online
Interac Direct Payment, or IDP, is the debit card service used for purchasing goods and services and this is a PIN-based system. Shared Card Dispensing, or SCD, withdraws cash from any ATM that does not belong to your financial institution. With Interac e Transfer, online banking customers can send money to other people with an email and a bank account in Canada. Finally, Interac Online allows people to pay for products/services online, directly from their bank account.
Online Casinos and Interac
Online casinos in Canada started gaining popularity in 2015. These sites have tons of advantages compared to land-based casinos, which is why so many players started favoring them. As mentioned earlier, one of those advantages is the plethora of accepted payment methods, one of which is Interac.
As we are going to see later on, there are plenty of advantages that come by using Interac as a payment method for these operators. Casinos that accept Interac are very popular in Canada as many players use it to deposit and withdraw money from their accounts. The most commonly used services by Interac at online casinos are Interac e-Transfer and Interac Online.
Thanks to the popularity of this method, players always check if their chosen site is an Interac e Transfer casino or Interac Online.
Top Interac Online Casinos in Canada
Researching for the best online casinos in Canada does not just include finding one that features Interac as a deposit and withdrawal. There are a few other things to take into consideration when searching for the best Interac casinos.
First of all, players need to check the license of the chosen site. As you know, gambling regulations in Canada are quite strict and complicated as every province has its own laws concerning this industry. Online casinos in Canada are considered legal if they are licensed and regulated by an authority belonging to the province or by First Nations tribes.
If the online casino does not possess any license, then it is probably a scam site. In this scenario, it won’t even feature Interac as an accepted payment method since this financial institution only partners with reputable operators.
Depositing With Interac
Now that we are familiar with what exactly Interac offers to their clients and that many casinos in Canada feature it as a payment method, it is time to see how to deposit and withdraw money, as well as take a look at all the pros and cons of this payment method.
The process of depositing money with Interac requires you to find online casinos that accept e Transfer or Interac Online and making sure that it is a legit site. After that, you will be required to register. Registration is very fast and simple. All that is required from you is to supply the chosen online casino Canada with some basic information about yourself.
After you’ve registered, the next step is to choose Interac as your preferred method of payment. In most cases, the online casino will require you to verify your identity before you are able to deposit money and play their games. That is done by sending a photo of your ID, driver’s license, or passport.
When these steps are completed, you will be free to deposit money using Interac. To do that, you can go to the Cashier’s or the Account tab, depending on the navigation of your chosen casino site. Then, you will choose the Deposit option from which you will be transferred to your bank account.
Deposits with Interac are instant and some online casinos may charge fees, depending on their policies. It is also worth mentioning that each online casino has a certain minimum deposit amount.
Withdrawing with Interac
The process of withdrawing money with Interac is pretty much the same as depositing money. But, instead of clicking the deposit button, you go to the withdraw option. Online casinos in Canada have a minimum withdrawal amount as well. It is worth checking whether the operator is an e Transfer withdrawal casino as some casino sites might accept Interac for deposits, but not for withdrawals.
Once you’ve made sure that the operator accepts Interac as a withdrawal option, you select it and type in the amount that you want to withdraw. Additionally, Interac does not charge any fees for withdrawal. However, the online casino of your choosing might charge them, so make sure you check them in the Banking section.
Withdrawals with Interac are fast and have a processing time of around 1-3 business days.
Pros and Cons Of Interac
Just like any other fundamental, Interac comes with a few advantages and disadvantages, but as we are about to see, the advantages outweigh the disadvantages by far.
First of all, Canadians love to use it as a payment method. That is why Interac is commonly found at all online casinos in Canada. Transactions with Interac are very safe. This payment method completely blocks third parties from falsifying cards just to get access to your funds.
Next up, Interac e Transfer and Interac Online as main options at online casinos are very easy to use. Creating an account lasts short. You can even use your mobile devices to transfer accounts to your account by using Interac. The last advantage is the fact that all transactions with Interac are pretty fast.
Just to compare, credit and debit cards are the most commonly chosen method at most online casinos. While deposits are instant, just as Interac, withdrawals have a processing time of 3-5 days, maybe even more. That is not the case with Interac. The processing time of this payment method is 1-3 business days.
As for the cons, there is really not much to think of. One disadvantage would be the fact that not many online casinos that are not focused on Canadian players feature it as a payment method, but that is not that big of a problem since most reputable casino sites that are focused on the Canadian method have it.
So, to conclude this topic, Interac’s biggest advantages are its fast and safe transactions, as well as the fact that it’s very easy to use.
Terms and Conditions As A Must-Read
One of the most important things that players need to remember when using Interac as a payment method is to read the terms and conditions of the chosen online casino in Canada. Some of the terms and conditions that apply for this method are the minimum and maximum deposit/withdrawals, whether fees are charged for deposits and withdrawals, but also check whether Interac is eligible to claim bonuses.
This is important and here’s why. We’ll take Klarna, Skrill, and Neteller as a comparison method. These e-wallets might seem like the perfect choice when you see that they provide players with instant deposits and withdrawals, but the truth is that they have several disadvantages.
First off, they often come with fees on withdrawals. Not only that but most online casinos, including those that offer their services to Canadian players, do not consider them eligible to claim the featured bonuses and promotions.
Now, the good thing is that Interac does not come with those restrictions most of the time. However, the policies vary from one online casino to another, hence you must be fully aware of what the casino’s banking policies are before choosing Interac as your payment method, or even registering, for that matter.
Again, online casinos, especially those that offer their services will not have these restrictions because there is no sense in making them. After all, Interac is the most popular payment method in this country and the majority of players use it to deposit and withdraw funds, but it is still worth checking the T&Cs.
All in all, Interac is a very advanced payment method for online casinos. That is why Canadians always register at casinos that accept Interac. Not only is this the most popular online payment method in Canada, but it also provides players with fast and secure transactions. Additionally, Interac is very simple to use and it allows players to deposit funds into their casino account from their mobile devices.
Of course, there are a few things that you need to remember when you are looking to register at online casinos. First off, you need to check whether the site is licensed or not. In Canada, either provinces or First Nations tribes license and regulate online casinos.
Secondly, you are ought to check whether that is an accepted payment method. You can do that by checking the banking tab of the chosen site. If this payment method is listed, then you can rest assured knowing that those are online Interac casinos.
Interac is a very secure and efficient payment method and all of the best Interac casinos are licensed and regulated, thus safe to deposit money that can be used to gain access to all of the featured games.
How to check if an online casino accepts Interac for payments?
To check whether an online casino accepts Interac, simply go to the banking page of the operator and take a look at whether this method is featured on the list or not.
What are the advantages of using Interac as a payment method at online casinos?
The advantages of using Interac as a payment method at online casinos are great security, fast transactions, easy to use, and the fact that it is quite a popular method in Canada.
Are deposits and withdrawals with Interac instant?
Deposits with Interac are instant, while withdrawals usually have a processing time of 1-3 business days.
Does Interac come with any fees?
Interac does charge fixed fees for withdrawals. On top of that, the online casino may apply additional fees.
Is Interac used often at online casinos in Canada?
Interac is one of the most commonly used payment methods in Canada due to the fact that it is based in this country.
What are the pros and cons of using Interac?
There are a few pros that come with using Interac as a payment method. First off, deposits and withdrawals with it are safe. Next, Interac provides players with fast withdrawals and it is very easy to use. The only con that comes is that not many online casinos that have a global, rather than Canadian market focus, feature it.
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