Interac

What is Interac?

Interac is a trusted financial brand founded in 1984 and focused exclusively on Canadians. Therefore, Interac casinos operating in every Canadian province offer this deposit and withdrawal method.

While the company offers several financial products, the most common ones at online casinos are Interac e-Transfer and Interac Online. The basic concept of the service is to connect your bank account to online merchants, including Canadian online casinos, through Interac. Initially, the service was connected to major local banks such as RBC, BMO, and Scotiabank.

However, regulatory changes in 2023 have reduced the list of banks and merchants accepting Interac Online, so you should double-check whether this service is available at a specific online casino. With this review, you can easily identify the best Interac casinos, learn about potential fees, and get a detailed guide explaining the deposit and withdrawal procedures.

Advantages of Interac

• This service is very affordable, has a high success rate, is fast, and easy to use.
• Mobile-Friendly: Interac e-Transfer is compatible with both desktop computers and mobile devices, providing flexibility for users on the go.
• Enhanced Security: Transactions are processed through the bank’s secure online banking system, reducing the risk of fraud.

Cons of Interac

• Geographical Restrictions: Interac e-Transfer is primarily available to Canadian residents with accounts at participating financial institutions.
• Withdrawal Limits: Not all online casinos support withdrawals via Interac e-Transfer, so it’s important to check the casino’s banking options before making a deposit.
• Transaction Fees: Many casinos charge players a transaction fee, but some may pass this on to players. We recommend reviewing the casino’s terms and conditions regarding fees.

How to Deposit at an Online Casino Using Interac

Registered users with a Canadian bank account can easily make transactions at online casinos through Interac. Here’s how to fund your Interac account:

1. Compare online casinos that use Interac and register with the best one.
2. At the cashier’s desk, select Interac.
3. Select your financial institution from the list (e.g., National Bank of Canada) and add your email address or phone number if required.
4. The casino will then redirect you to the Interac website, where you will need to provide your banking information (e.g., your Interac debit card number) to confirm the transaction.
5. After the transaction is complete, you will be issued a receipt showing the current transaction details (transaction ID, amount, bank name, bank confirmation, date and time, and transaction status).

Payment services may recommend waiting up to 15 minutes for your transaction to be processed, but a rule of thumb is that funds will be credited to your online casino account within one to five minutes, allowing you to immediately place real money bets on slots and table games.

Deposit limits are primarily determined by the online casino accepting Interac. Typically, limits range from $20 to $3,000 CAD per transaction. Interac e-Transfer also sets its own transaction limits: a minimum of $0.01 CAD and a maximum of $3,000 CAD. The weekly limit is $10,000 CAD, and the monthly limit is $30,000 CAD.

Regarding Interac online casino bonuses, gambling sites rarely exclude this method from their promotions, so if you have a bonus code, you can enter it to receive free spins or a first deposit bonus. However, if you’re unsure about the wagering requirements for the bonus, don’t accept it.