What are the pros and cons of using Interac casinos in Canada?
Before you embrace Interac as your go-to payment method for playing casino games at real-money online casinos in Ontario (and, hopefully, other Canadian provinces very soon), you need to work out if it’s a practical, reliable and readily available option.
A lot of Canadian casino players will be familiar with Interac, but that doesn’t necessarily mean that it’s the best banking option for online casino play. There are several factors that you’ll need to weigh up and consider when deciding how best to fund online gaming, including the advantages and disadvantages listed below…
Advantages of using Interac
A household-name payment option
Interac processes over 6 billion transactions a year, making it the leading e-transfer facility in Canada. That means most casino players should be familiar with the service, with no learning curve or additional sign-up steps required.
The beauty of using Interac casinos in Canada is that they allow for anonymous transfers directly from your bank account. This makes it a very popular option for casino users who value privacy and online safety above all else.
Fuss-free deposits and withdrawals
Handling transfers to and from your chosen Interac casino promises to be easy as pie, with straightforward steps that should be familiar to anyone who’s made online purchases before.
Linked to most Canadian banks
As you’re probably aware, most banks in Canada support Interac, so you should have no difficulty getting started with the service.
Part of the reason Interac hit the ground running in Canada is that it offers comparatively lower fees than other banking facilities. So if it’s a toss-up between using Interac or AMEX casinos in Ontario, this is a point well worth considering.
Disadvantages of using Interac
Not accepted by all online casinos in Canada
You may be surprised to learn that not all casinos support deposits and withdrawals via Interac. Be sure to check an operator’s list of banking options before you sign up.
Sure, fees may be low for Interac transactions on casino sites, but you may still need to pay them. Interac fees can vary by operator, too, so we’d recommend comparing the different options.
Interac isn’t the safest payment facility out there
While Interac offers full user anonymity, it isn’t invulnerable to other banking-related issues, including phishing scams and cybersecurity risks. That’s why it’s so important to only ever sign up and play at fully licensed casino outlets.
Top online casinos in Ontario to check out
How to make deposits and withdrawals at Interac casinos in Canada
Practically speaking, there are two areas that a casino banking facility should get right as a minimum requirement: deposits and withdrawals. If either of these processes proves a hassle, the chances are that you’ll be quickly seeking an alternative payment method – perhaps even a new casino operator.
The good news is that Interac excels in both these areas, offering an easy way to transfer funds between your bank account and your preferred Canadian casino outlet. Let’s take a closer look at how each of these processes works in a little more detail.
6 steps for making a casino deposit using Interac
1. Sign up for your favourite Interac casino and navigate to the banking page; you may find this facility in the “my account” section or similar. Here, you’ll be able to both add and withdraw funds to and from your casino account.
Select the deposit option and navigate the list of accepted banking options until you find the recognisable yellow Interac icon.
2. After selecting Interac, you’ll have two further payment options: Interac deposits via debit card or e-Transfer. Choose the facility you’d prefer to use, ensuring that you check the fees and transfer times associated with each payment option.
3. The next step is to input your total deposit amount. Some casino sites in Ontario may have minimum and maximum deposit sums, so check these in the T&Cs.
4. Once you’ve chosen your deposit sum, click proceed and you’ll be taken to the Interac site to approve and verify your transaction. Depending on the payment option you chose earlier (e-Transfer or debit), you’ll need to provide credentials like your debit card number, expiry date, and unique card identifier number.
5. Follow the steps to complete your transaction. The Interac payment verification screen should be very familiar if you’ve used the facility to make online purchases in the past.
And that’s all there is to it – easy, right? Provided you’ve inputted all the correct details and everything is squared away with your bank, the funds should reach your casino account within 1-2 days.
How to make a withdrawal at Interac casinos in Canada
Withdrawing winnings from your casino account to your bank account via Interac is super easy. In fact, it’s a very similar process to making a deposit, only in reverse.
Here’s a look at the five steps involved…
- Navigate to your casino’s banking page. By now, you should be pretty familiar with where that is!
- Assuming you’ve accrued enough winnings to meet the operator’s minimum withdrawal requirement (listed in the T&Cs), hit the withdraw option to launch the process.
- In the same way that you did when making a deposit, select the appropriate Interac option.
- Choose the amount you wish to withdraw. Remember, too, that casinos do enforce minimum withdrawal requirements, and some may even only allow withdrawals in specific denominations.
- Proceed through the usual Interac verification steps to complete your withdrawal.
As we said – super easy. It’s worth noting, though, that withdrawal times will vary depending on the operator’s processing time. Typically, you can expect Interac casino withdrawals to land in your bank account 2-7 days after your request is placed.
What fees will I need to pay at Interac casinos in Canada?
Although some casino sites in Canada may charge additional processing fees for deposits and withdrawals, it is possible to give a rough idea of the fees associated with Interac casino transactions.
From our research, we gleaned that Interac casino transaction fees – including both deposits and withdrawals – typically cost a maximum of CA$1.50. That includes a processing fee imposed by most Interac-accepting banks as well as an obligatory CA$0.005759 that applies to all Interac debit card transactions.
Bear in mind, however, that these fees can treble to upwards of CA$4.00 if you inadvertently use Interac when your bank doesn’t support the facility. If this is the case, it could be worth using an alternate method of payment, which we’ll come on to later in the guide.
What to look for from Interac e-transfer casinos in Canada
Just because a Canadian casino site accepts Interac doesn’t mean you should immediately sign up. There are plenty of Interac-accepting operators out there, so be sure to do some research to find a casino that ticks all your boxes.
If it were us searching for the best Interac casinos in Canada, we’d want to see the following…
- A streamlined sign-up and deposit process – with no unnecessary hoops to jump through before you’re in front of your favourite slots and table games.
- A great choice of Vegas-style games – including slots, table games like blackjack, roulette and baccarat, and a full live casino offering.
- Robust security features – like SSL encryption as standard. It’s always worth reading reviews of operators you like to learn more about the types of security provisions they offer.
- Fast deposit and withdrawal processing times – whether you stick with Interac or opt for a MasterCard casino in Ontario, it’s never nice waiting longer than expected for deposits and withdrawals to process.
- Alternative payment options – Interac may be your go-to facility at the minute, but what options are there if you change tact later down the line? Check the available banking services to enjoy maximum flexibility.
- What are the minimum and maximum transfer sums – be sure you’re comfortable with the maximum and minimum deposit and withdrawal amounts enforced by a casino before you sign up. This information should be available in the operator’s main T&Cs.
Alternative banking options at casino sites in Canada
Interac may be one of the most popular payment facilities in Canada, but is it the best payment method for online casinos in Ontario?
Whether you’re unconvinced by the benefits of using Interac or your bank doesn’t support these types of transactions, the good news is that there are plenty of alternative banking options to Interac. Let’s take a look at some of the different options available to casino users in Ontario.
| Banking option | Information |
| Debit & credit cards | Most online casinos accept all major debit and credit cards as standard. This removes the need for Interac from the equation and is by far the easiest and most convenient way to fund online casino play. |
| E-wallets | E-wallets like Skrill, NETELLER, and ecoCard are popular in Canada thanks to the added security and functionality they provide. |
| Instadebit | Instadebit is like a streamlined version of Interac, allowing you to make debit card transactions without the need to manually input your card details. |
| iDebit | Ditto iDebit. This Interac competitor is coming on leaps and bounds and is now linked to all Canadian banks. |
| eCheck | If you’re looking to maintain peak online privacy and protect your bank details, using an eCheck service on Ontarian casino sites is advisable. |
| Cryptocurrencies | Take anonymity to the next level with crypto-accepting casino sites in Canada, including Bitcoin. |
Closing thoughts on the best Interac casinos in Canada
It’s great to see Canada’s new wave of legal and licensed online casinos embracing the likes of Interac. After all, this is easily the country’s biggest and most trusted payment facility, offering an easy and affordable way to fund casino play online.
With that said, Interac isn’t always the best option, so be sure to do your own research to find the best combination of casinos and banking options out there. And remember: there’s more to consider besides available payment facilities.
Ballislife.com is your one-stop shop for all things iGaming in Ontario, so be sure to check out more of our latest guides and reviews to find your perfect Canadian casino operator.
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Interac casinos in Canada FAQ
✅Is Interac a safe payment option on Canadian casino sites?
Interac is among the safest ways to make deposits and withdrawals at casino sites in Canada. Since it’s linked to most of Canada’s mainstream banking services, users can enjoy peace of mind that all transactions are safe and secure. Just make sure you’re playing at a licensed casino site before making any transactions.
🥇What is the best payment option for casinos in Ontario?
If you’re one of the thousands of people looking to sign up and play at Ontario’s newly licensed online casinos, finding the best and most reliable payment options is something you’ll need to consider. From Interac to Instadebit, our guide looks at some of the most reliable payment facilities you can use at the province’s best casino outlets.
🔄How do I make deposits and withdrawals at Interac casinos in Canada?
If you’ve previously used Interac to pay for goods and services online, the process of using Interac to make casino deposits and withdrawals should be pretty familiar to you. Need a refresher? Our guide offers step-by-step instructions on using Interac at casino sites in Canada, including the process of making a deposit and requesting a withdrawal from your casino operator.
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