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Interac Online Review

If you’re a resident of Canada, then you’ll no doubt have heard of the Interac Online payment provider. It basically provides you with the option of sending money to an online gaming site via mobile or online banking. The funds come from one of the participating financial institutions – of which, there are over 250. To use Interac Online, you only need your email address and the details of the recipient. It’s an exceptionally convenient payment method for Canadian residents.

That’s why it has started being accepted at more and more online casinos; because of its convenience for such players. Despite the fact that it may seem like quite a new payment method, Interac Online has actually been available to use since 1984. Now, obviously, it’s not something that has always been available in an online capacity. However, as the online world began to expand, this brand, operated by Interac Association and Acxsys Corporation, it became much more readily available.

With those two companies coming together, they ensured that Interac was able to grow and, in the process, provide multiple different electronic transaction services to users. These include Interac Debit, Cash and Flash services as well as the online offering.

How to Make a Deposit Using Interac Online

If you would like to use the Interac Online option for depositing, then it’s quite simple to follow through with. Of course, you’ll need to be using a casino that supports the payment method, but then you can simply log in to your online or mobile banking and select the Interac e-Transfer logo. From there, you’re required to enter the recipient’s details and the amount you’d like to deposit. The details of the recipient can usually be found via the cashier page of the online casino you’re playing at.

An email or text message is then sent out to you, providing details on how to proceed with the deposit, including the passwords needed or security questions and answers. The type of security process you go through will differ from financial institution to institution. Following the input of the recipient’s details, the recipient will then just need to submit a security answer which will allow the funds to transfer into your casino account. This process usually completes swiftly enough, so you shouldn’t have a long wait when it comes to claiming promotions and playing games at your chosen casino.

Minimum Deposit Amount Using Interac Online

The minimum that you can deposit via Interac usually depends upon the casino’s own limitations. However, it’s common for an online casino to have minimums of around $10. Therefore, Interac online casino deposits can be done for as little as this. What’s great is that these transactions are usually completed within 30 minutes. So, you won’t have to wait for a long period of time before you’re able to access the selection of games on offer.

Depending upon the bank that the money is coming from, you may sometimes be charged for depositing at an online casino as well. This can be anywhere between $1 and $1.50 per transaction, but the fee will be shown before you complete the transfer. However, this isn’t always the case, and in several circumstances, the transfer through Interac will be possible without you needing to pay any fees at all.

Despite being a Canadian payment service, you won’t have to deposit into an online casino in Canadian dollars. Instead, the funds will be withdrawn from your bank account in this currency and when they’re being deposited into your casino account, they will be converted into whatever currency you’re playing in. So, perhaps it’s a casino that only works in US dollars. That’s no problem, because the conversion will take place for you, meaning that you don’t have to deal with it yourself.

Minimum Withdrawal Amount Using Interac Online

Not all platforms offer Interac Online withdrawals, but if they do, then the transaction is usually exactly the same as depositing, only in reverse. Keep in mind though, that you will most likely need to wait for longer periods of time to receive your money back. As standard, this can take up to six business days altogether. It’s often the case though, that the transaction will complete in about four days, which remains quicker than bank wire or cheque transfers.

As with an Interac Online deposit, you may incur charges from your financial institution for withdrawing via this service. You should check with your specific bank before utilising this option for making a withdrawal from an online casino. Withdrawal transaction charges can be anything up to $4 per transfer. That’s not such a huge fee to incur, being lower than various other payment methods that come with extra charges. Of course, an ideal situation would be to not have to pay anything for a withdrawal. However, minimal charges such as Interac ones don’t cause too much of a problem.

That being said, the withdrawal process itself should be quite a smooth one. As long as the casino you’re playing at offers such, then Interac Online gives you the ability to take out your money without having to worry about its whereabouts. Transactions are generally guaranteed to be successful with this method.

Casinos That Accept Interac Online

Interac Online has become more widely used at online casinos over the years. It is available at the following platform, too:

  • Playzee Casino – The great thing about using Interac at Playzee, is that the casino doesn’t charge anything for withdrawals, but they’re still processed within 24 hours. As well as this, the casino offers games from a strong selection of developers, ensuring that you have access to some impressive slots, table games and more. To make things even better, Playzee Casino has such a welcoming website design and really invokes a sense of intrigue from the very first moment you visit. With the inclusion of its introductory offer for newcomers, you’re able to receive a 100% bonus on top of your first deposit.

Why You Should Use Interac Online

Interac Online can be a very appealing alternative to standard payment methods for Canadian users to utilise. It’s a more secure version of a bank transfer and allows for almost instant play to take place. Yes, it can sometimes have fees attached to it, which differ depending upon your financial institution, while withdrawals through this method can take longer to process than other methods, such as e-wallets.

Of course, the fact that it is now becoming more readily available to use at a variety of online sites makes it even more appealing. Granted, there’s still a long way for it to go before it’s known as one of the top payment methods. Not enough casinos support it for the time being to warrant such a status.

Probably the best part about using Interac Online though, is that it provides a safe option for Canadian players to make use of when depositing and withdrawing. This is because none of your personal banking details are exposed to the casino site itself. And with it being able to connect to around 200 banks and financial institutions, it’s pretty much usable by anyone and everyone within Canada. Therefore, as an alternative payment method, Interac is quite a good offering.

Advantages

  • Secure payment method
  • Quick deposit transaction
  • Low deposit fees
  • Available with over 250 financial institutions

Disadvantages

  • Up to six business days to wait for completion of withdrawals
  • Only available to Canadian players
  • Not available at a large number of online casinos

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