Making a payment with Interac
Setting up an account and making an Interac deposit in an online casino is a little different from using other ewallets, such as Skrill casinos and MuchBetter casinos. This is because it involves using the details of your existing Canadian bank account in conjunction with the cashier sections of the Interac Casino Canada that you are paying into. Below, we’ve provided you with a detailed 3 step process to setting up an account and making a deposit in Interac casinos.
Step 1: Opening an Account
Strictly speaking, you don’t need to open an Interac account in order to use the service. Instead, you just need to ensure that both your Canadian bank and the online casino you’re using are both compatible with Interac. You’ll find our recommended best Interac casino later on in this review.
Step 2: Verifying Your Identity
Because with Interac Casinos you’re working with your own bank account, the identification verification process is done through your bank. As well as entering your details, you may be asked to enter your security question or receive a one-time passcode (OTP).
Step 3: Making Deposits & Withdrawals
As mentioned previously, making an Interac deposit in an online casino differs from making a Neteller casino deposit. Similarly, the withdrawal process also differs from that of a Vanilla prepaid casino. Below we’ve provided you with step-by-step guides for making both deposits and withdrawals in an Interac casino Canada.
- In the cashier section of your chosen casino, select Interac as your desired payment method.
- Make a note of the casino’s payment information then go to your online or mobile banking.
- Enter the casino’s details and select the account you wish to transfer from.
- Choose your desired deposit amount and confirm the transfer
- In most cases, the funds should appear in the best Interac casino account you’ve chosen.
Making withdrawals is almost the same as the above but in reverse. Simply go to the cashier section of the casino and select to withdraw, then simply enter the required details and wait for the money to be paid into your account.
Average time of Interac for deposits and payouts
Usually, deposits made into Interac casinos should be processed in between 15 and 30 minutes, however, in some cases, large deposits may take a little longer than 30 minutes. Generally speaking however deposits should never take more than an hour, so if you experience any issues here, it’s best to contact the Interac customer service team.
Withdrawals on the other hand, do take a little longer, as they can take 4-6 days to process and incur a fee of $4.00 to process. It theoretically is possible for an Interac Casino Canada to provide you with the withdrawal in the form of them paying you, meaning it could be processed in 15-30 minutes – in addition to the casino’s own processing times. However, we have yet to find a casino that has stated they do things this way. As well as speedy deposits, the main selling point of Interac is the safety and security it offers.
Interac verification requirements
As mentioned previously, the verification process when using the best Interac casino is all done through your Canadian bank. This is because you don’t make your own Interact account, instead, Interac acts as a middleman between you and the casino, meaning that you don’t have to share your data and payment details with the casino directly, making the whole process safer and more private – as well as fast & efficient.
Your bank will verify your identity through the usual methods required when logging into your online/mobile banking or making purchases from an online merchant. This could be in the form of security questions or a one-time passcode (OTP) sent to your mobile via SMS. Larger payments made by you to the casino may take longer than 30 minutes to process as they’ll go through extra verification from Interac and your bank.
The history of Interac
Interac has been providing payment solutions in Canada since 1984, making it one of the oldest in the country. Naturally, they have modified and developed their payment solutions in accordance with the rapidly changing technology. As well as the payment method we’re talking about in relation to using Interac casinos, Interac also has other payment solutions, including Interac Flash, which allows you to make safe contactless payments with your debit card.
Since 1984, Interac has built up a strong and trusted relationship with customers in Canada, thanks to their consistent services, but also thanks to what they describe as their “Uniquely Canadian History”. On average, Interac is used by Canadians approximately 16 million times per day. Since its inception, cutting edge technology and a focus on security is what has helped make Interac remain as Canada’s most trusted payment solution companies.
Going back in time, Interac services were actually provided by two different companies, Interac Association, which was originally founded in 1984 and still provides 3 existing Interac products; Interac Cash, Interac Flash and Interac Debit. Then we have Acxsys Corporation, founded in 1996, which provides a range of Interac products and international services, including Interac e-Transfer – the payment solution used to fund the best Interac casino.
Interac to other providers compared
So as we’ve just mentioned above, Interac has been around since 1984 – which naturally means imitators and competitors have popped up in Canada and elsewhere in the world. Perhaps the two closest and best-known competitors in Canada are iDebit and InstaDebit. Although they provide a similar service to Interac, e Transfer, which is what we use to fund an Interac Casino Canada, their service isn’t exactly 100% the same. iDebit for one, requires you to make an account with them in order to make a withdrawal.
Additionally, their competitors require an account upgrade and/or additional verification in order to deposit and withdraw higher amounts. Interac on the other hand, just takes a little longer to process your payment – but usually not much longer than 30 minutes. And compared to ewallets, Interac allows you to work with your existing bank account, saving you the hassle of setting up and funding a brand new account. The edge that Interac has over its competitors above all else, however, is the fact they are the oldest and most trusted payment solution provider in Canada.
Most popular payment methods
So Interac has been around for a while, that’s fair to say, but is Interac really 100% legit? Absolutely. You can lay your fears completely to rest here as Interact hasn’t remained one of Canada’s most trusted financial companies for over 35 years without good reason. When it comes to security, Interac uses cutting edge encryption technology to help keep your banking and personal data 100% safe.
In addition to that, they have a secure login process and only work with top Canadian banks and credit unions that have their own proper security measures in place. Overall, you can rest assured that Interac is probably the most secure and trusted payment option you can use to fund your online casino account.
Are there any fees incurred when using Interac?
When it comes to making a deposit into your chosen Interac Casino Canada, no fees are charged from Interac’s side. However, your bank or credit union may charge some form of fee from their end. You can check this by checking your bank’s terms and conditions or by contacting their customer service department directly. Making a withdrawal using Interac incurs a fee of $4.00 per transaction. It’s therefore advisable to withdraw in bulk as the fee is a flat rate – meaning it doesn’t change depending on the amount of your withdrawal.
Are the limits on the amount I can deposit and withdraw?
As is usually the case when it comes to financial transactions, there are limits on how much you can deposit and withdraw. However, neither of these limits are set by Interac. Your deposit amount depends on your bank or credit union while the amount you can withdraw depends on the limits set by the online casino you’re using. Consult your bank and/or casino directly to find out their respective limits.
Can I get an Interac casino bonus?
While there’s no such thing as an Interac Casino Bonus strictly speaking, there are always bonuses available at Interac casinos. That is to say, there’s no bonus exclusively available to Interac users, unlike the NeoSurf casino bonus however most casinos that accept Interac do have bonuses. What’s more important is that Interac is never exempt from bonuses, unlike some payment methods such as Neteller and Skrill,
Can I make payments through the Interac website?
As Interact is a unique payment solution that works through your existing bank account or credit union, you can’t make payments directly through the Interac website. Instead, you do it directly through your online banking or mobile banking app using the details of the Interac Casino Canada you’re using. You can get the required details of the online casino when you select Interac as your chosen payment method. The advantage this offers over other similar payment services is that you don’t have to go through the hassle of creating and registering an Interac account,
Can I make an Interac deposit to a casino that doesn’t have Interac as a listed payment method?
The short answer is no, but let’s expand a little here. Should you try to fund an online casino (or make any form of payment) to an account that doesn’t have Interac, then initially, it would appear that the payment will appear to have worked. However, if the recipient of your payment doesn’t have Interac, it’ll be up to them to reject your payment. Once they do so, the money will be returned to your account. If they don’t opt to reject the payment, then the money will automatically be returned to your account within 30 days.
And so to summarize, Interac is the ideal payment method if you’re a Canadian customer looking for a safe 7 secure way to fund your online casino account? Why? Because Interac is one of Canada’s oldest and most trusted financial companies. Additionally, using the best Interac casinos means making fast payments while not sharing your data or financial details with the recipient. And finally, no account creation is required, avoiding you unnecessary hassle
Interac Casino Canada FAQ
Interac is among the oldest and most trusted payment solutions in Canada, with around 16 million transactions taking place every day. It should therefore come as no surprise that Interac Casinos are plentiful in Canada. But how do you know which ones are the best and most trusted? That’s where our experts here at MyBet.com come in! Here you can find our exclusive list of top online casinos that accept Interac as payment.
Interac is a trusted Canadian payment solution that began back in 1984 and today provides multiple quality payment services to Canadian customers. This includes being able to fund your online casino account – provided that the online casino you’re using accepts Interac as payment. In terms of the currency you wish to use to fund your account, you can find the list of accepted currencies here at MyBet.com.
As a company, Interac provides multiple payment products, solutions and services to customers here in Canada. WIth Interac eTransfer, you can pay for products and services via safe and secure, private bank transfer. To see if this extends to online casino & gambling sites, our team of experts at MyBet.com decided to investigate and put Interac to the test.