Canada’s population rises by more than 500,000 people every year. Accommodating for the financial growth that follows population growth is Interac, a banking service that’s began operations in Canada in 1984.
Today, the company supplies one million Canadians with their daily with their banking needs. Via Interac, consumers can send money nationwide or worldwide.
In 2019, 371 Million transactions were processed through Interac and accounted for $132 billion in funds. Interac is the best solutions provider for individuals wanting to send money to family, friends or business partners across the country in minutes.
Interac is accepted at millions of online stores and commodity services, such as online caisnos. While providing it as an online casino payment method is more common than not, it is increasingly becoming popular with those that cater to the Canadian market due to the fact it allows payments between your bank account and the respective betting site to be processed quickly.
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While there are multiple other services like Ecopayz that are accessible to Canadians when funding player accounts. However, the cost of processing payments is substantial and can have an impact on recreational funds being spent on gambling activities. The benefit of using Interac is a non-profit organisation that operates it. Subsequently, this means that citizens aren’t charged any fees to process withdraws if offered by the individual casino. While some financial institutions may apply a fee of $1.50 per transaction, multiple have chosen to eliminate this fee, and that has seen a dramatic increase in its popularity.
While there are over 250 banking institutions and financial companies in Canada that offer Interac, it is estimated there are more than five hundred casinos available to Canadians today. That has seen over 30 million in transactions being carried out with online betting sites, a number bound to increase in the coming years ahead.
Interac Accepted Online Casinos in Canada
The banking method selected by players for their online gambling deposits and withdrawals is a critical decision. Many services online aren’t as safe or reputable as others, and researching the best payment option guarantee’s not only player safety but also player privacy. In a world where all information online can be vulnerable, having this added insurance provides confidence while making online gambling transactions. One of the most secure and reliable payment services in the last five years has been Interac.
As a financial institution, they’ve transferred billions in assets, and that saw a significant shift in usage when their service became accessible online to every Canadian. In addition as an online payment method was quickly adopted by Canadian players and began to rival the likes of Neteller. Considering that both Skrill and Neteller have left the Canadian market, Interac is the only non-profit payment service available in Canada.
casinoonlinecanadahelper.com has compiled significant data that identifies which top-rated casinos in Canada offer the Interac payment service. Using the Interac service with an online casino requires players to have a bank account in Canada, one that allows for online banking. The registration process to sign up for the bank account is seamless and can be completed online, or directly at your local branch. Afterwards, funds can be transferred between your personal bank account and the gaming establishment of choice. New players with a casino making their first deposit with Interac will receive a welcome promotion with the selected casino, and that only adds to the incentive to select it as a preferred method of payment.
How to deposit into online casinos via Interac
Depositing via the Interac service isn’t difficult. Using one of the listed casinos is promoted in this article is highly recommended as Interac has been verified as a payment option. To proceed with depositing, you will need to ensure your financial institution will allow for transactions to the specific casino in question.
Simply click on Interac as your method of payment, enter the amount you wish to deposit, then click to proceed. This will redirect you to the Interac banking page where you will log in as you normally would when accessing your online bank account. You will be required to set up a security question, and upon answering the question through an email sent by Interac, your bank will send confirmation of payment, and it will be applied to your online casino balance.
Frequently Asked Questions
- Are online casinos with Interac safe?
Absolutely, Interac is one of the safest forms of transacting available online. Not only is it safe, but encrypted defence protocols secure it. Multiple licenses granted by regulatory authorities in Canada govern the operations of Interac & require that SSL-Encryption be enabled to defend the finances of players. Subsequently, this allows for players to have full faith and trust that transactions will be secure.
- Are deposits instantaneous with Interac?
Interac is a service that processes transactions in minutes, but not instantly. This is for security purposes, ensuring that the payment is encrypted before transferred from bank accounts to the selected casinos. Additionally, interac must inform the payment processing company handling transfers for the casino of the deposit. Interac cannot move forward until the casino confirms the transactions. Typically, this all takes ten minutes.
- Is betting any different when using Interac?
No, the only difference between Interac and other payment services is the level of security maintained. Betting won’t change with any of our listed casinos, regardless of the payment service selected by players.
- Is Interac accepted with all online casinos in Canada?
Interac isn’t accepted with every online casinos. Many things determine how if the casino can offer the payment service. The first is the generated traffic volume, the payment processing company the betting site uses and the jurisdiction their located in. Unless all three criteria can be met, then Interac cannot be accepted with the selected online casino.
- Are withdrawals accepted through Interac?
Interac is available for players to withdraw. However, there could be some betting sites that choose to offer the payment service for depositing online only. Typically, most online casinos decide to provide both depositing and withdrawing via Interac in Canada. The process of withdrawing can take upwards of several days.
- Does Interac Qualify for Welcome Promotions?
Interac is one of the more popular payment methods in Canada. Onlie casinos eliminating the welcome bonus to players using the Interac service won’t drastically lower player activity. Typically, most online casinos provide their welcome promotions to players using the Interac transaction service.
- Are there other payment methods that I can use?
Of course, there’ll be no online casino that requires players to maintain the Interac payment service for the entirety of their stay. At any time, players can opt to switch to another transaction service like Paypal or Paysafecard. However, there are few reliable payment providers in Canada other than these three.