Getting your money in and out of an online casino used to be a challenge back in the day. Nowadays, we’re in the golden age. Thanks to Interac banking, it really couldn’t be easier to deposit and withdraw to gaming sites. If you’re looking to join the millions that use this convenient method, let’s introduce you to get you up to speed.
Explore Interac and Its Payments Benefits for Canadians
Most Canadians are quite familiar with Interac because it’s available to anyone and everyone who has a bank card. Yes, that’s right. If you have a bank card with a company like Bank of Montreal, TD or CIBC, you’ll have the ability to use the payment method. While you might not know it by name, almost every time you pay with debit, you’re using it. When you slide your card into the machine and enter a pin, or tap to the screen, that’s Interac.
Unlike a credit card, a debit card works slightly differently. The money is drawn from your account right away. If you have the funds there, you can spend them. If your balance is at $0 or you try to spend more than you have in your account, your transaction will be declined.
1. Interac: safe, secure and speedy
Interac is a part of so many people’s every day that when it came to online gaming, it made a lot of sense to make it available. For a while it wasn’t but now you’ll find many Interac casino sites that will accept the method for deposits and withdrawals.
There are a number of pros of using Interac banking for your online gaming transfers. To start, it’s very safe. As mentioned, the payment method is widely used in Canada millions of times per day with virtually no hiccups. Secondly, it’s secure. The transactions are done on a reliable platform using advanced encryption. There are also fraud prevention mechanisms in place if something goes wrong.
Lastly, the whole process is very speedy. Many online transfers are immediate. Some can take up to an hour. And that’s mostly referring to deposits. For withdrawals, if you have autodeposit set up, your withdrawals could hit your account almost instantaneously.
2. It’s very easy to use
A number of people have used Interac in person but maybe not as much have used it online. Since 2020, it’s really gained in popularity in terms of using it as an electronic method rather than just at pay terminals or bank machines.
In terms of sending a transfer, it’s usually done one of two ways. When you go to deposit through the site, they’ll either just guide you to your online banking site and you log in to pay there, or they’ll give you the details of which e-mail to make the transfer to and you can do so yourself. If it’s the latter situation, you would log into your bank and then set the Interac casino up as a bill payee. Then you send the money for the deposit and include the unique message (to identify you).
The first way is a bit easier but both take less than a couple of minutes to execute. The best part is that the money gets transferred almost instantaneously in most cases. There are times when things slow down to maybe 30-60 minutes. If there are any delays beyond that and it’s likely you may have tripped a fraud prevention wire and they want to confirm you’re the one sending the transaction. Reaching out to your bank will solve the problem.
A lot of people like to use cryptocurrency for deposits and withdrawals, and there’s nothing wrong with that. However, there is a small learning curve with crypto. When it comes to Interac banking, almost everyone already knows how it works. It’s easily accessible as millions have bank cards. That’s why this banking method is so possible for real money casinos.
3. Budget-friendly option
Many players who bet online have been looking for the combo of fast, easy and budget-friendly. Interac checks all of those boxes.
These are the top online casinos using Interac:
My Verdict on Using Interac: Cheap and Easily Accessible for Locals
In terms of the transfer fees, you’re typically looking at no more than a dollar and that comes from your bank’s side; not Interac themselves. Many bank accounts will charge a small fee based on the amount of transactions you have included in your plan.
E-transfers with it have become so popular, though, that banks have stopped charging or lowered the fees. If you’re with one of the big banks that still charges for Interac, feel free to open an account with a company such as Tangerine or Simplii. Not only is it free to have an account, it’s also free to send as many e-transfers as you’d like.
Interac, Attribution, via Wikimedia Commons is licensed under CC BY 4.0.
