Interac is a payment method that is strongly secure. It allows the players to transfer funds easily and quickly from their Canadian bank account to a casino without revealing sensitive financial information.
Most Canadians that love to shop online should be already familiar with Interac and how to use it. Still, a lot of users maybe aren’t aware that Interac is one of the best payment options for Canadians. Lots of online casinos have added this deposit and withdrawal option to their cashier system.
Check the list Chap made for you carefully. Here you will find many online casinos that offer Interac for Canadian players. By the way, you will find a more detailed guide under this list.
Why You Should Select Interac?
That’s a solid question. Why should I go with Interac instead of regular payment ways such as Visa or bank transfer? Let’s find that out.
1. Quicker and simpler withdrawals
Usually, online casinos allow withdrawing the funds back to the same payment option or wallet immediately. So you will save some time and you probably wouldn’t have to verify the withdrawal method. The casino already knows that it’s you.
2. Growing popularity
Probably all new online casinos that accept Canadians have implemented Interac. So with a single payment account, you can fund tens or even hundreds of different online gambling places. You do not need to have a few cards, e-wallets, etc. Keep it simple!
3. Great security
Interac takes security very seriously. It is always up to date and follows the newest protection tendencies. It has proven to be trusted.
4. Top-notch privacy
We think this point is most important right here. Interac ensures a high level of privacy. Let us explain more. In the statement of a bank, you will only see the payment for Interac. There is no final recipient shown. So all your payments made via Interac are totally out of the eyes of bankers.
Why I Shouldn’t Choose Interac?
Well, if it has pros, it must have cons. It’s like good and bad, that’s natural. And Interac has some negative sides as well.
1. A risk of phishing
Interac sends a lot of notices through email. If a user isn’t very careful, it can click on a fake link or send sensitive information as a response to a fake Interac email. You must be careful all the time and not share that. Never any reputable payment company will ask you to provide passwords or other sensitive data via email. We would love to see Interac improving its notices sending policy in the future.
2. Not all banks are supported
Sometimes, when an online casino offers Interac Online (we cover what’s that a little bit below) it might not support your bank account yet. If the same casino doesn’t offer Interac e-Transfer, you cannot use this payment option at all. However, as we already mentioned before, more banks and casinos implement Interac fully.
What Is The Difference Between Interac Online vs. Interac e-Transfer?
Sometimes you will find different logos. One says E-Transfer, while another has the word Online under the Interac logo. Well, it’s very simple.
Interac e-Transfer is mostly used to send money to family members or friends. You just enter an email address of a recipient and send money. It is widely available at most financial institutions and credit unions. It reminds Paypal where the main identification is an email address.
Lots of online casinos allow making a deposit using this email. In this case, the player gets an email to which he must send a payment. Also, the sender has to submit security questions/answers from a bank account.
You can find all the banks and financial institutions that support Interac e-Transfer here. There are more than 250 names there.
Interac Online is more advanced, however, it still isn’t as popular as e-Transfer. The depositor is stepped through logging into the bank account and completing all the necessary steps. There is no need to enter your email address or put security questions. The process is quicker and more smooth. Personally, we like it more.
Moreover, even if the casino offers to make a deposit using Interac Online, it can still not support your bank. That’s a huge downside to this day.
Making A Deposit
How To Send Money Using Interac e-Transfer?
That’s super simple. First, you need:
- An account with a participating bank or credit union
- Active email address or mobile phone number
- Log into your online or mobile banking app and select the account.
- Choose or add your recipient’s email or mobile number.
- Enter the amount and a security question (no need if the recipient has registered for Interac e-Transfer® Autodeposit).
IMPORTANT! Make sure your security answer isn’t obvious and don’t share it in the Interac e-Transfer email notification message.
How To Make A Deposit Using Interac Online?
- In the deposit section, first, choose Interac Online and select or enter the amount you want to deposit.
- As with any other Interac Online payment, the payer has to select the corresponding bank or financial institution to make a payment. Usually, there are tens or hundreds of different banks. Go with the one you use. For users’ convenience, there are filters by province or territory. However, due to various limitations, your bank or credit union can be not on the list. In this case, you have to Cancel the payment and go back to select Interac e-Transfer if it is available.
- After selecting the bank/credit union and going forward, you will be transferred to your corresponding bank’s website to process the transaction.
- Here you have to sign in. Enter your ID and password. We always recommend checking if the URL is familiar, and if there is a lock icon near the address which is green and doesn’t look broken.
- Confirm the amount. Click the “Continue” or “Confirm” button.
- Now you should see something like a receipt for a confirmed transaction. We recommend emailing the receipt or just screenshot it. Just in case something goes wrong and you need to prove that you have made a deposit.
- That’s it! The money now should be in your casino account. It wasn’t so hard, right?
Both these methods work instantly. You don’t have to wait for a day of funds being credited to your casino cashier. It’s up to you which deposit method you choose. However, sometimes the casino allows making only one of these methods. Moreover, sometimes your bank or a credit union might be not supported by Interac Online method. In this case, you have to go with the e-Transfer option.
- Go to your casino account’s cashier and select the Interac method.
- Enter the amount and click on “Withdraw”.
- If a casino asks you to verify your account, send them what they ask.
- After it is verified, the funds will be transferred immediately.
Final Word and Chap’s Thoughts
Chap team really thinks that Interac is the best payment option for Canadians. it’s so adopted for Canadians, that you really don’t need to look to anything else. It’s quick, simple, and secure. Moreover, you can make a deposit using Interac at almost all online casinos accepting players from Canada. And once again, Interac is probably one of the fastest deposit methods for Canadians.
Most noteworthy, Interac is a great keeper of your privacy. It doesn’t reveal where you made a payment at.
All in all, consider Interac seriously if you are from Canada and never used this method before. Highly recommended!