Interac is a Canadian-based virtual payment option. It allows users to transfer funds to and from their online bank accounts and live casinos without sharing financial or banking information with any party. It has been operating since 1984.

Is Interac accepted at all live casinos worldwide?

Yes. However, the players desiring to use Interac must have a bank account with legitimate Canadian financial institutions or banks.

Why is Interac a popular payment option among punters?

Most Canadian players register with the best Interac live casino due to the privacy and security of the payment option. Also, Interac transactions are relatively fast, convenient, and affordable.

How much do Interac transactions cost?

Ideally, players using Interac live casino shouldn't incur any costs. However, this differs from one platform to the next; hence, the need to do research before signing up to any platform.

Does Interac accept transactions in all currencies?

Interac only processes transactions in Canadian dollars. A casino may accept a player's transaction using a different currency, but the user will incur exchange costs to convert the funds to Canadian dollars.

What's the transaction limit for players using Interac in live casinos?

Interac typically has high transaction limits (up to C$3,000 per day). However, every live casino imposes its preferred limits, which its players must abide by. This could be anything from as little as $2 to as much as $1,000.

How long do transactions using Interac in live casinos take?

Interac processes transactions pretty fast. However, most gaming platforms take some time to clear the transactions. Thus, players using Interac in live casinos may have to wait up to 24 hours for their transactions to be successful.

Can players using Interac in live casinos withdraw using other payment methods?

Interac is a bank transfer with several transaction options compared to other payment methods. However, whether a player can deposit using Interac and withdraw via different payment options depends on their casino of choice. Some platforms accept; others don't.

Best (10) Live Casinos Accepting Interac 2023

About Interac

Interac is one of the popular payment methods used in online gambling, especially in Canada. Most Canadians use Interac for many of their daily transactions. Although this method has faced various challenges, it has evolved with time to meet the changing demands of its clients in recent years. The integrated upgrades enable online casino punters to quickly deposit and withdraw money.

Interac offers a variety of products as part of its services. These include:

Interac Cash
Interac Credit
Interac Online
Interac e-transfer

This payment method service allows users to pay for a variety of products and services without the providers of those services having direct access to their bank account for transactions.

It acts as a barrier, providing additional security and peace of mind for users. The services are mainly offered in Canada so it has become a popular payment method for Canadian sites and in recent years it has grown in popularity so that more and more online services are adding it as a payment option to give their customers peace of mind.

However, it is not just about depositing money to a live casino account. It can be used to withdraw any winnings too. The process for this can take between 4 and 6 business days and then the money will be deposited into the chosen bank account.

Some banks may choose to apply a small fee to this transaction but this will vary according to the institution so the user should check this in advance. It should be noted that Interac does not charge the user for its services.

History of Interac

Interac is a network that was originally 1984 by the Interac Association, a non-profit organization. This was a joint venture that was set up by a total of 5 financial companies. These include Scotiabank, RBC and Desjardins. However, since 1984 the number of organizations that are a part of the association has grown to more than 80.
In 1996, this association launched a counterpart company, also a non-profit organization, called Acxsys. It was this second company that launched the various services that are now offered by Interac including the very popular e-transfers.
Between 2008 and 2013, there were several attempts to merge Interac with Acxsys. These did not work – either some of the co-owners put a stop to it or it was prevented by the Competition Bureau.

However, a further attempt to complete this merger was successful and the Interac Corporation was formed in 2018. The offices for the corporation can be found on the Royal Bank Plaza in Toronto. Over the years the services offered have developed in response to the growing reliance on online transactions. They now offer services in both French and English to Canadian customers and customers use them to complete payments to online casinos and other service providers.

Is Interac live casino payments popular?

Since its launch in 1984, this payment method has grown rapidly in popularity. One of the reasons for this is that an account with Interac can be set up very quickly. As more and more people become reliant on online services for shopping and other transactions, payment providers such as Interac have grown in popularity.

The reason for this is that the payments can be made easily and quickly as well as securely. Interac is an additional level of security in the deposit process. People are often concerned when they want to deposit money at an online casino as they are worried about hacking, but by following the Interac deposit process, the online casino with Interact will not store any personal payment information.

Online service providers have recognized that people are happier to complete transactions if they know it is secure and are adding Interac as a payment option.

This gives people more choice about how they pay and organizations are attracting more customers as a result. As Interac does not charge a fee, people have seen it as a practical alternative to a traditional transaction, although some banks may charge a fee for a withdrawal.

How to make a deposit with Interac

Making a deposit with Interac is easy and quick.

The user will need to have an email address and a mobile phone number. This will allow them to receive notifications and give them the ability to answer the necessary security questions.
The funds are transferred to an online casino account from a bank account. The process means that the user does not have to give any personal information to the online casino such as bank account details. In addition, the user would need to have adequate funds in their bank account to use the Interac service.
All the user has to do is select Interac as a payment method when they are adding funds to their online casino account. This will let the user select their bank and then a fresh window will open. This is where the user completes their banking details. The online casino does not have access to this information.
The final step is to confirm the transfer amount.

Using Interac in Live Casinos

The popularity of Interac casino payments means that those using live casinos are now favoring this as an online payment method, particularly when taking part in live casino games. The number of live casinos that accept Interac as a payment option has also grown in recent years.

As already mentioned, when using this payment method for a live online casino Interac forms a barrier between the casino and the user's bank. When opting for e-transfers, the user may have to choose a secret question and answer, so on occasion, the answer to the question may be needed before the transaction is completed.

Users should be aware that if selecting the e-transfer option, it could take around 24 hours for the funds to appear in the online casino account. Interac Online is the faster option and the one that is recommended for topping up an live casino account. In most cases, the minimum amount that you will be able to deposit is CA$10.

How to make a withdrawal with Interac

Making live casino withdrawals with Interac is very fast and unproblematic.

It's critical to determine if the casino accepts the Interac payment option. If it does, players simply need to log in to their accounts to make withdrawals.
On the cashier option, they select the Interac payment option, provide the necessary information as requested by the casino, verify their credentials, and key in the amount that they want to withdraw in check with the minimum wagering requirements. After the quick process, the withdrawal will reflect on their bank accounts.
Moreover, withdrawals can be made at an Interac service provider. All a player needs is to access an ATM with their debit card. They insert the card and follow the simple instructions on the screen. The guidelines are menu-driven and straightforward to follow. Notably, Interac has no withdrawal limits. However, withdrawals exceeding $10000 will be reported to relevant Canadian authorities as a security check. Withdrawals are processed within a short time.

Top Bonuses for Interac

While customers go the extra mile searching for these bonuses to obtain more value for their money, Interac casinos provide variety. Below are some of the perks available in Interac.

Deposit bonus

Deposit bonuses are awarded on a given criterion. Players have to meet the minimum threshold to obtain the deposit bonus. For instance, a 10% match bonus for deposits exceeding $50 requires a warranty beyond the $50 to receive the reward. In addition, it is essential to pay attention to wagering requirements that may alter how players spend or withdraw bonus winnings.

Free spins

Interac casinos give players a chance to bet on a particular slot game without depositing any funds in their accounts. Free spins are mostly given to existing members of an online casino. Free spins often come with certain restraints. For instance, the number of free spins for a specific game and other terms and conditions.

No-Deposit Bonus

This is the most lucrative bonus that attracts most players. A player automatically qualifies for this bonus once they sign up with Interac casinos. However, no-deposit bonuses are often small compared to other bonus types. In addition, the compensation varies in different casinos and is mainly offered as a welcome token. Notably, these bonuses may come with varying restraints. For instance, a player may be required to use the deposit bonus on a particular game or set of games. Others may need a player to spend the bonus before a specific time frame. Otherwise, the reward will be nullified.

Interac Supported Currencies and Countries

Interac incorporated an E-transfer module to facilitate the transfer of funds within Canada and abroad. However, sending money abroad with Interac will incur charges such as exchange fees, sending fees, or fee from related institutions. Interac E-transfers are only limited to Canadian dollars. Due to this fact, the payment option restricts international players with no access to Canadian bank accounts from using it in online casino games.

However, funds withdrawn from online casinos via Interac can be disbursed to different parts of the globe. Interac collaborated with MasterCard and Western Union to aid the transfer of funds overseas. This meant countries running Western Union or MasterCard could access funds sent from Interac.

Why Deposit with Interac in Live Casinos?

With Interac, various unique features make it stand out as one of the best payment methods in online casinos worldwide. It is crucial to know what sets Interac apart from the rest. The following are stand-out features that stand out both for and against Interac as a casino deposit method.

Pros

Safety and Security

Interac in live casinos provides the most secure and safe platform to make transactions to eliminate the fear of loss of funds and intrusion of privacy. This is achieved by ensuring all data is protected from access by third parties. In addition, records for all transactions are encrypted

Easy to Use and Easily Accessible

Interac is the most popular payment method in Canada. As its name suggests, it is an interactive payment method that does not require complex knowledge to use. This convenience and popularity make it one of the most popular payment methods in live casinos.

Fast processing Speeds

Transactions are made instantly or within a reasonable time. Whether when making deposits, withdrawals, or even participating in online gambling events, Interac ensures every minute of a player's time is used well.

Cons

Limited Reach

Although it has been constantly growing, the best Interac service is only available in Canada. It requires users to have a Canadian bank account. This locks out many live casino players across the globe who would like to enjoy its advantages.

Safety and Security at Interac

Besides efficiency, safety is one of the reasons why Interac is so popular in Canada, not just for online casino payments but even for day-to-day transactions. The entire transaction system is based on end-to-end encryptions and strong SSL certification.

To protect users from scamming, all online payments require as little personal information as possible. There is an EMV chip for users making contactless debit payments. This chip makes it near impossible for counterfeit cards to be created or other scammer activities like skimming and electronic pickpocketing. The instantaneous nature of transactions is also a protection layer. This is unlike other methods where processing may take a while, making it susceptible to hacking.

Mobile payments are protected by passcode verification and touch ID.

Interac also aims to keep individual and card users in the know about tactics that scammers may unleash on them. On their website security lesson, they educate users about fraudster activities like Business Email Compromise, False Invoice Schemes, and CEO fraud. They have done an impressive education job that can protect any Interact user from falling prey to scammers.

Interac Casinos - Safe Deposit