Interac has been among Canada’s leading payment providers since its founding in 1984. It provides payment processing technology and solutions to banks, credit unions, businesses, and consumers. It is a direct bank transfer solution and allows users to transfer funds directly from their bank to the online merchant. The benefits of using this method include faster checkouts and secure transactions.
It is supported by more than 250 banks and financial institutions, including Royal Bank of Canada, TD Canada Trust, LeRoy Credit Union, and more.
Interac offers multiple payment products. The most notable ones for gambling are Interac Debit e-Commerce and Interac e-Transfer. While the former is a debit wallet that enables you to make secure purchases from a merchant, the latter serves to transfer money directly from one bank account to another using an email and security question.
Interac solutions are a staple at online casinos in Canada and are open to all players who own a Canadian bank account.
What we like about Interac
- Implements best-in-class security technology and anti-fraud measures
- Processes transactions at high speed
- Offers several layers of security and is therefore perfect for anti-fraud
- No fees are applied on most transactions
- Quality customer support services
What could be improved by Interac?
Interac involves your bank details, so there is little anonymity when using this method. Although this provider is widespread among Canadian casinos, it is hardly available elsewhere.
How to use Interac as a payment method at an online casino
For Interac e-Commerce payments:
- Sign up on your preferred Interac online casino site
- Choose Interac under the deposit methods
- Confirm the amount you wish to pay in
- Select your bank or a financial institution from the list provided
- You’ll be redirected to your bank’s website to confirm the transaction
For Interac e-Transfer:
- Follow steps 1 to 4 above, making sure to choose Interac e-Transfer this time
- You’ll be shown an email address and security question/answer
- Head to your bank app and enter the details under the Interac e-Transfer section
- Confirm the transaction
Interac is Canada’s most reliable payment provider, and it offers multiple solutions for users. Whether you use Interac e-Commerce or Interac e-Transfer to fund your real-money gambling, you’ll enjoy easy, fast, and secure transactions all the time.
Interac doesn’t charge any fees. However, there may be a flat rate on some transactions due to fees charged to the issuing financial institutio
Deposit times are usually instant, but can take up to 30 minutes depending on your bank/credit union.