About Interac

Interac is a widely trusted payment method at online casinos in Canada. It takes funds from a traditional bank account; however, it simplifies the procedure by being more user-friendly and faster, and it adds an extra layer of security. Since teaming up with Mastercard about half a decade ago, Interac has also been available to online casino players worldwide. If you've been considering it, you'll be glad to learn that its fees are low.

Why Use Interac at Online Casinos

Launched in 1984, Interac has grown into a staple online payment method for many Canadians. These are the key factors that have led Canadian casino players to use it instead of traditional online banking.

• State-of-the-art security: Interac employs 256-bit SSL encryption, the same standard used by leading financial institutions, to secure transactions. Transfers also require two-factor authentication and are monitored for fraud in real time.

• Instant deposit times: Online casino deposits made via Interac are processed within seconds. You can start playing your favorite casino games almost immediately after completing the transaction. There's no downtime waiting for funds to clear.

• Fast withdrawals: Payout times vary by casino, but most sites process Interac withdrawals within 24 to 48 hours. That's significantly faster than standard bank transfers, which can take upwards of a week.

• Simple and seamless transactions: With Interac, you make transactions directly through your online or mobile banking app. You don't have to enter your banking information or your credit/debit card number, which saves you time and also keeps your data more private.

• Affordable fees: Interac has low costs. Typically, users are charged $1-$1.50 per transaction by their bank. That is significantly cheaper than wire transfer fees, which can range from $10 to $30 per transaction at Canadian banks.

• Flexible transaction limits: Many online casinos, when using Interac, allow deposits as low as $10 and withdrawals worth up to $10,000.

• Reduced approval wait times: Unlike wire transfers or e-wallets, Interac transactions don't require extra validation from third-party services. Your funds go directly from the bank to the online casino site without unnecessary delays.

How to Deposit with Interac at an Online Casino

After choosing a trusted online casino that accepts Canadian players, you just have to follow these simple steps to deposit money into your account using Interac.

1. Register your casino account: Provide legitimate info when signing up. Then, verify your email or phone number when prompted.

2. Set Interac as your payment method: Go to the Banking/Cashier section, click the Deposit button, and select "Interac" or "Interac e-Transfer" as your banking option. Some online casinos may group Interac under their Bank Transfer options, so check carefully.

3. Enter the amount you wish to deposit: There is usually a minimum deposit requirement ($10 or $20 in most cases). Note that there is also a minimum amount required to claim the welcome bonus, and it may differ (it can be higher, but rarely above $30).

4. Provide your email address or mobile number: The casino site will prompt you to provide the email address or mobile number associated with your Interac-enabled bank account.

5. Access your online banking account and send the transfer: You will be redirected to the Interac website or app. Provide your banking credentials (your PIN or your Interac debit card details) and send the transfer.

6. Wait for your deposit to process and play online casino games: Interac deposits are usually completed within seconds. If needed, refresh your casino account's balance after a few moments to check if the deposit reflects. Then, choose your favorite casino games and start playing.

How to Withdraw With Interac at Online Casinos

Withdrawing your casino winnings using Interac is as simple as depositing them. Follow these step-by-step instructions, and you will be done in seconds.

1. Log in to your casino account and open the banking/cashier section.

2. Go to the payout section and select Interac as your withdrawal method.

3. Enter the withdrawal amount. Note that limits apply, including minimum sums per transaction, day, week, or month.

4. Provide withdrawal information, meaning the email address or mobile number linked to your Interac-enabled bank account.

5. Complete the request, and know that the casino site might require KYC checks (e.g., uploading a photo ID or utility bill).

6. Wait for processing and accept your Interac e-transfer. Most Interac withdrawals are processed within 24-48 hours. Once approved, you might have to accept the e-transfer through your profile.

Interac Fees and Limits at Online Casino Sites

Interac transaction fees typically range from $1 to $1.50, depending on your bank. Deposit limits usually start at $10 and can go up to $10,000 per transaction, while withdrawal limits are often similar.

Interac is typically more flexible than credit/debit cards and on par with e-wallets. It doesn't match the upper deposit limits for crypto in most cases, though.

Interac Pros and Cons for Casino Payments

Pros:

• High security with 256-bit SSL encryption and two-factor authentication

• Low fees, typically ranging from $1 to $1.50

• Easy to use, no sensitive banking data shared

• Faster deposits and withdrawals compared to traditional banking

• Widely accepted at Canadian online casinos

Cons:

• Limited availability outside Canada

• Potential bank restrictions, as certain banks may impose their own limits or additional fees on Interac transactions

• No anonymity

How Does Interac Compare to Alternatives?

Interac is not the only payment method at online casinos. To compare it to other options, we've compiled a table below.