Table of Contents
- The Popularity of Interac Casinos
- Pros and Cons of Depositing at Interac Casino
- Interac Payment Methods Comparison Table
- Making Withdrawals from an Interac Casino
- Interac Casinos in Regulated Markets
- Interac Casinos in Unregulated Markets
- Staying Safe When Depositing to an Interac Casino
The Popularity of Interac Casinos
The perennial issue for casino fans in Canada and worldwide is finding a payment method that allows swift deposit transfers to be sent securely every time. To an extent, this problem was resolved by creating the Interac payment system in 1984.
Interac, as a brand, has now entered popular culture in Canada and, through tie-ups with Western Union and MasterCard, is beginning to raise its visibility on the world stage.
Even though Interac is currently only accepted for payments at Interac Casinos in Canada, it is no bit-part player. In total, half a million businesses in North America accept payments via Interac, making it one of Canada’s most popular choices for making payments online. Unsurprisingly, this is the case.
Interac completes online payments almost instantly. An ingredient that is valued by casino fans everywhere. So too, is the simplicity of Interac. Deposits can be swiftly dispatched by fans of slots, baccarat, blackjack, or roulette by just completing a verification process through your phone or email. Understanding that casino enthusiasts want an easy life makes Interac the perfect fit for all players.
Completing an Interac payment is as easy as one, two, three, or four!
- Access your bank account
- Find the Interac electronic transfer page
- Verify your details by email or mobile
- Accept or decline your Interac transfer
On completion, your money will be lodged with your Interac Casino, ready to invest in your favourite Craps and Slingo games.
Pros and Cons of Depositing at Interac Casino
Even the most popular payment methods have their downsides, and how detrimental these may seem depends on the eye of the beholder.
The pros and cons of a payment method for online casino play tend to come down to your feelings about security, anonymity, and fees. Bank Transfers, e-wallets, prepaid vouchers, and mobile phone credit options all offer a different combination of safety features, scrutiny, and cost. Which of these combinations suits your needs is an entirely subjective choice.
When it comes to Interac, these very same costs and benefits are in play. These include:
- Flexible – most casino fans that I’ve come across enjoy living an easy life. Interac Casinos assist with this goal by offering a payment option that supports both deposits and withdrawals. The method for claiming a payout via Interac is remarkably similar to that for depositing. Dial into your bank, select the Interac option, confirm your transfer, and wait for your money to be moved.
- Fast – there seems very little benefit to having your time wasted through lengthy processing periods whenever you wish to complete an online deposit or withdrawal request. Interac agrees with this stance. All deposits that are released to your favourite Interac Casino are moved within seconds, and payouts are completed in a matter of hours. Such a truncated process is ideal for players on the go and those who want to spend their winnings as soon as a win has been achieved.
- Fee-free – casino play can be costly enough without your payment provider taking a slice of your cash. As soon as you log into your preferred Interac Casino for the first time, you begin to haemorrhage your money. For every wager that you place, the house keeps around 5%. The more bets that you place, the more chance there is for the house to snaffle this cash. Given that casino players are always at a disadvantage, the extra costs incurred when banking is not appreciated. Interac comes to the aid of long-suffering gamblers with its fee-free model. The majority of transactions with Interac are completed at no cost at all. In cases where fees are applicable, these tend to be for small amounts.
- Simple – most payment providers require you to sign up for a standalone account before using their service. This additional task is not needed when you make deposits to your favourite Interac Casinos. Because Interac has forged excellent partnerships with many of Canada’s top banks, this service is embedded within your banking app. Who has time to sign-up for extra accounts and remember additional passwords when this isn’t required?
- Secure – the top consideration for any payments provider must be security. Suppose you cannot guarantee that the transfers through your service are completed accurately and that the details relating to those transactions are obscured from prying eyes. In that case, you are unlikely to be in business for long. To meet this need, Interac has installed several security features to keep your money and your digital identity safe. Fingerprint access, SSL encryption, and security question firewalls all combine to provide a safety net whenever you deposit at an Interac Casino.
- Bonuses – for casinos to invite you to participate in any of their bonus schemes, players need to fulfil Know Your Customer (KYC) requirements. These rules are designed to ensure that vulnerable individuals are not harmed by gambling in any way. To adhere to this legislation, casinos need to confirm the identity of their clients and verify how accounts are being funded. Photo documents can confirm player ID, but banking information can sometimes be difficult to ascertain. Depositing through e-wallets, in particular, can mask the origin of a casino player’s funds and mean that they are ineligible to access bonus deals. With Interac, these issues are quickly overcome. Interac payments come directly from your banking provider, giving the operators of Interac Casinos clear sight of all the funding details they require.
Interac is a great payment method option for any Canadian casino fan. However, this doesn’t that this alternative is perfect. Some of the potential downsides of Interac include;
- Country Restrictions – Interac Casinos are only available to those holding Canadian bank accounts at the time of writing. This means that only a small slice of all casino fans can currently benefit from the services that the firm offers. However, there are suggestions that this situation might be beginning to change. International Interac payments and withdrawals can now be made through tie-ups with MasterCard. With the hope that this expansion might see Interac move into new markets in the coming years.
- Lack of Privacy – This payment moves directly from your bank to your casino whenever you deposit your Interac Casino of choice. This means that this transaction will appear on your bank statement. This fact might be a bit disconcerting if you prefer to maintain an air of anonymity. If this is not ideal, you could always consider using e-wallets like Skrill or MuchBetter.
- Country Restrictions
- Lack of Privacy
Interac Payment Methods Comparison Table
|Payment Method||Min Deposit (CAD)||Max Deposit (CAD)||Deposit Fees (CAD)||Withdrawal Fees (CAD)||Deposit Speed|
|Payment Method||Min Deposit (CAD)||Max Deposit (CAD)||Deposit Fees (CAD)||Withdrawal Fees (CAD)||Deposit Speed|
|Bank Transfer||5||100000||Free||Free||1 – 5 Days|
|Bitcoin||0.0001 BCH||0.5 BCH||Free||Free||Instant|
|Ethereum||0.01 ETH||0.5 ETH||Free||Free||Instant|
|Litecoin||0.01 LTC||0.5 LTC||Free||Free||Instant|
|MasterCard (Credit & Debit)||5||100000||Free||Free||Instant|
|Ripple||5 XRP||500 XRP||Free||Free||Instant|
Making Withdrawals from an Interac Casino
One of the biggest drawbacks of any payment method that you use when shifting funds to an online casino is that it is only supported for deposits and not withdrawals. Whenever this is the case, this will cause you additional work in linking multiple payment methods to your account and will probably require you to transfer funds between different payment providers. These problems are not seen when you use Interac, as Interac Casinos support this option for both deposits and withdrawals. Not only this, but the withdrawal process is almost identical to that of depositing. Four simple steps need to be navigated.
- Log in to your Interac Casino account
- Locate the cashier tab and request a withdrawal.
- Choose the Interac option
- Verify your request
Upon completion of these easy actions, all you need to do is wait for your cash. Most withdrawals requested through Interac should hit your account within 48 hours.
Interac Casinos in Regulated Markets
Playing at an Interac Casino is a great experience for most players, but this is most definitely the case when you access a platform in a regulated market.
Regulated markets are jurisdictions where the local Government develops the rules of the iGaming jungle. This sees casinos trade under the terms of legislation that often sees player deposits ring-fenced, transparent terms and conditions enforced, and responsible gaming information provided. The robustness of the regulatory landscape depends on the licensing body. The United Kingdom Gambling Commission (UKGC), the Malta Gaming Authority (MGA), the Gibraltar Betting and Gaming Association (GBGA), and the Alderney Gambling Control Commission (AGCC) are world leaders when it comes to holding casino brands to account. Any casino fan that can gamble under these conditions should consider themselves fortunate.
Aside from a casino being safe and fair, players need to consider a range of variables when deciding which Interac Casino to play at. This is not an exhaustive list, but our experts always look at four characteristics when recommending a new Interac Casino operator.
- Welcome Bonus – the welcome bonus is one way that hard-suffering casino enthusiasts can turn the tables on wealthy casino owners. Good welcome bonuses tend to come in four individual tranches. These servings include cash bonuses and free spins in differing amounts based on your deposits. Shrewd customers can turn these initial deals into bankroll boosters, with the potential to pick up thousands of dollars being on offer at several top paying casinos. We always recommend offers at no-wagering and low-wagering where bonus sums need to be bet no more than thirty-five times to be converted to real cash.
- Software – the finest Interac casinos tend to support slots and table games from the world’s most renowned software developers. This association sees games from Evolution Gaming, Pragmatic Play, Microgaming, and Yggdrasil, present and correct in the contents lists of all top sites. Because of these tie-ups, you will always be able to enjoy titles like Xxxtreme Lightning Roulette, Speed Baccarat, Starburst, and Gonzo’s Quest Megaways. We almost hold casinos with this cast list in high regard.
- VIP Rewards – aside from welcome bonuses, VIP rewards schemes are potentially the best way for punters to get one over on the house. We are always on the lookout for Interac Casinos that host rewards systems open to all that offer decent payouts for regular players. Among the benefits that players can expect are free spins, bonus cash, cashback, and bespoke gifts. Quality casinos also give their clients a chance to attend corporate events, win holidays, or even drive off in a powerful supercar!
- Responsible Gambling Information – we all understand that the house will eventually pocket most of our stakes if we return to a casino regularly. But, this fact of life is hard for some to accept. On these occasions, casino owners must do all that they can to assist affected participants. This might mean signposting player tools, including deposit limits, loss limits, and session limits. Or advising players about the benefits of time-out and self-exclusion options that allow customers to take an extended break from gambling. We always support sites that place the welfare of their clients at the heart of their business model.
Interac Casinos in Unregulated Markets
If you play at an Interac Casino in an unregulated market, you should take a slightly different approach to selecting your next adversary. Many casinos in these markets still possess a gambling licence. Still, this approval is more likely to come from authorities in Curacao, the Netherlands Antilles, or the Kahnawake Reservation in Canada. Awarding bodies from these regions tend to take a liberal approach to law enforcement. Because of this, casino brands often adopt more complex Ts & Cs to the detriment of customers.
When reviewing casinos of this ilk, we always plump for Interac Casinos with a long history and an excellent reputation. All of the casinos on our recommended lists meet this benchmark.
Staying Safe When Depositing to an Interac Casino
Online payments are almost infallible in the age of fingerprint log-ins and SSL encryption. However, this does not mean that you should be lulled into a false sense of security. Fraudsters are always looking for ways to steal your details to line their pockets, so adopting some simple defensive techniques is always advised.
- Never give away your details – neither your bank nor an Interac representative will ever ask you for your banking details or passwords. If someone asks for this information, contact your bank for further assistance.
- Never confirm an unexpected transfer – if Interac or your bank contacts you to confirm a payment that you have not instigated. Please don’t do it. Once you have confirmed a fraudulent payment, this is hard to get a refund.
- Never open generic emails – Interac will always address you by name in any email correspondence. If this is not the case, disregard the message and contact Interac for advice.