Interac is one of the top online payment methods available in Canada. With this highly secure payment method, users can transfer funds from their Canadian bank accounts to a merchant’s account. All without disclosing sensitive information. For many Canadians, this is a popular payment method used for online purchases. However, there’s a section of the population that knows this payment solution for depositing and withdrawing funds at gaming accounts. We take a look at how to go about these transactions in this detailed review.
Interac offers two products and that means different ways to go about the deposit process. Interac e-Transfer allows you to transfer funds by logging into your bank account via a different method and later use email to transfer funds.
Interac Debit, on the other hand, works similar to your ordinary debit card. However, you can also use it in conjunction with other mobile payment methods such as Apple Pay, Google Pay, and Samsung Pay.
When using Interac Online, head to the deposit section on your platform. Choose Interac Online from the list of options provided. Choose the deposit amount or enter the figure manually. The next step requires you to choose a preferred banking institution. Next, you will be redirected to the bank’s website to complete the transaction. This includes confirming the deposit amount and authorizing the transaction. Your casino account will be funded instantly.
The process is slightly different when using Interac Debit. Enter the amount you wish to deposit and once you confirm this amount, click on next. You will now have to choose your bank. Follow the steps on the bank’s website and approve the transaction. You will then be redirected to the casino’s site.
Thankfully, you can withdraw funds from your online casino using Interac. The process is simple and fast, and all you have to do is navigate to the withdrawal section. Choose Interac from the payment options listed here and enter the amount you wish to withdraw. Depending on your casino, you may have to verify your identity, payment method, and address.
In that case, simply provide a government-issued document as proof of identity. Your utility or bank statement should be enough to prove your address. Once everything checks out, the operator will process the transactions. Keep in mind, casinos have varying pending periods but expect your winnings to hit your account within three to five business days.
Remember, both Interac Debit and Interac e-Transfer deal with financial institutions, there are no limits on how much you can deposit or withdraw. However, your chosen casino will most likely have limits on both transactions. Therefore, we recommend that you confirm with the operator by visiting the terms & conditions or banking page to confirm these limits.
When it comes to the fees, Interac doesn’t charge any extra cost for processing any transaction. However, your financial institution may charge you a smaller cost. It’s rare to find an online casino that charges for Interac transactions.
Since Interac is available at online casinos in Canada, players in this jurisdiction can expect to come across plenty of Interac bonuses. The most common bonus is the deposit match awarded to players depending on the amount of money deposited. Most welcome offers feature this type of bonus and in some instances, the welcome offer may be accompanied by free spins.
No deposit bonuses are available as well depending on your preferred casino. You don’t need to deposit any funds. Simply sign up and claim the offer!
It’s important to mention that these Interac bonuses come with various terms and conditions. These terms include wagering requirements, time limits associated with the bonus, and limitations in terms of the games you can play using the bonus.