Best Interac Online Betting Sites For Canadians
For the longest time, Canada simply did not have a good way to deposit and withdraw from online casinos. Credit card companies were never too reliable with gambling, and no e-wallet managed to offer quite what we needed. But as the old saying goes, it’s always darkest before dawn!
Interac Online wasn’t the first payment processor to try and solve those issues, but they were the most successful ones. The reason for this is obvious: it’s easy to use, you can link it directly to your bank account, and it’s super secure! It offers all the benefits of paying by card, with none of the drawbacks.
If a casino supports Canadian punters, nine times out of ten, they support Interac as a payment method. But if you want to double-check just in case, you can usually find their logo displayed somewhere on the casino’s page.
How Interac Works
Interac is unique in that it never touches your funds. It effectively serves as a bridge between the casino and your bank account. No need to worry about your financial details being shared with third parties. Everything is completed through the financial institution where your bank account is registered. All payments are instantaneous, using available funds from your bank account.
Registering for Interac Online can be a bit tedious, since it relies on your financial institution’s online or mobile banking. But you can register with just an e-mail address! Once your account is linked to the e-mail address, you’ll need to verify it. But after verification, you’re ready to start paying and playing!
You can easily tell whether or not Interac payments are supported thanks to its unique icon. Once you’re ready to pay, you’re taken to a separate screen to confirm your details and the payment. At no point in time do you have to enter your banking information on the website where you’re paying. If you’re someone who is privacy minded, we’re sure you’ll appreciate this quite a bit!
Advantages of Interac Online
Privacy and security are obviously the most important advantage that using Interac gives you! But we were also quite pleased with how simple it is to use. The only mildly annoying part is that you have to go to another page, then come back to the one you were just at. But that small inconvenience is a small price to pay to use what is arguably Canada’s best online payment processor.
On top of that, Interac also has small fees that its customers will barely even notice! This is because the company is ran on a not-for-profit basis, and sets its fees only to recover its expenditures. And because it’s a joint effort between Canada’s major financial institutions, you don’t need to worry about it disappearing anytime soon.
You also get additional benefits when interacting with your financial institutions, too! If they have access to Interac, they must disclose a lot of important information with their customers. All fees have to be clearly visible. If something goes wrong, banks have to tell their clients who to contact. Perhaps best of all, merchants that offer payment via Interac have to comply with the Canadian Code of Practice for Consumer Protection in Electronic Commerce.
Playing at Online Gambling Sites Using Interac Online
The same advantages that Interac Online offers for regular payments also apply for online casinos. It can’t quite address the same privacy concerns, since most casinos require you to give them a lot of information when you sign up. But in terms of security, it’s indispensable! Interac’s zero liability policy protects players from fraud. So if a casino burns you, you have a way to recoup those losses.
If you make deposits or withdrawals using Interac Online, you should be aware that they have in-built limits. The minimum and maximum deposit using this payment method are CAD 20 and CAD 5,000, respectively. Meanwhile, the minimum and maximum withdrawals are CAD 50 and CAD 3,000.
Keep in mind that the casino itself has to support this payment method so you can use it. You will usually be able to check if it’s available simply by searching for its rather distinct icon. If you can’t find it, you can always ask customer support staff if it’s available on their website.
Play in Complete Security Using Interac Online
As we’ve already covered until now, at no point are any banking details shared with the merchant when you use Interac Online. You’re taken to a completely separate page, from which you authorize your financial institution to issue the payment. As a result, if a website eventually goes rogue, or are bought out by a less reputable operator, your online banking information stays safe.
There’s little risk of Interac themselves dropping their standards either. They are a joint effort between Canada’s major financial institutions, after all! And given it’s gained such a prominent role in Canada’s online payment space, it’s safe to say that this project won’t be dying any time soon. We can think of no better payment method when it comes to online gambling for Canadians.