Interac: Online Banking in Canada
Interac Online provides online and mobile casino players with a safe, fast and effective way to make casino transactions. Simply put, Interac is a banking utility which connects to your bank account and then proceeds to move the money from there into your online and/or mobile casino account as per your instruction.
Though it is exclusive to Canadian players, Interac can be used at many participating vendors. When you use a payment system like Interac Online, you’re automatically entitled to various perks and benefits. The banking method also provides privacy, something many online gamblers prioritise.
How Does It Work?
All Interac transactions take place within the security of your online banking account, and use email or text messaging for quick notifications to the recipient that funds have been sent. Recipients will receive a question via email or text, and once they have answered it their account will be credited instantly. Safe, simple, easy. Given the convenience of Interac, more and more online casino players are choosing this payment method to fund their casino accounts – and more and more online casinos are making this a payment option.
What are the Advantages for Me?
Signing up with Interac Online is very simple. If your chosen online casino supports this mechanism, you should be able to access it via the banking lobby or by going to their website. Interac uses a gateway page to connect to your bank account. After the connection is established, you simply need to confirm the amount you’d like to transfer; it’s that simple! There are countless benefits to using Interac Online, some of which you’ll find below:
- Online Banking Information Protection: Interac stores your information safely, so your banking information will never be shared with the online merchant you’re doing business with. In essence, you’re safer when banking online with Interac.
- Ease of Use: Since the payment is processed when you’re already online, there is no need for new online accounts or passwords.
- Security: Having partnered with Interac Online to complete your transactions, RBC Royal Bank offers an additional level of security.
- Convenience: When you opt for a mobile casino payment service like Interac Online, it provides a safe alternative to using your traditional bank cards and/or e-wallets.
- More Financial Control: Interac Online is the perfect banking utility for keeping track of all your payments. It enables you to check all your casino payments at once, making it easier for you to keep in control of your financial affairs. This type of payment system encourages responsible gambling.
Is Interac Safe?
Yes. You’ve probably heard of digital encryption technology, which is used by all reputable online banks, casinos and merchants. In short, this means that all information you disclose to an online institution is immediately encrypted and coded, making it impossible for third parties to breach or hack. Because Interac operates directly through your chosen bank, it’s essentially as safe as the very financial institution you already know and trust.
What’s more, the fact that you yourself get to choose the security question and answer, as opposed to a randomly generated code, puts you in charge. You can make the answer as easy or difficult as you choose – though, if you want to fund your online casino account quickly and conveniently, you’d probably want to avoid long and complicated security questions.
Is Interac for Me?
It can always be somewhat daunting, trying something new or straying from what you know. But, if you think about it, all forms of online banking were at one stage considered foreign and potentially risky. In spite of strict security measures generally being in place across the board at all accredited and approved banks and merchants, there will always be those who want to play it as safe as possible, and entrust only their chosen financial institution with their personal information. In these cases, Interac is perfect.
But, given the massive number of banks in Canada that offer Interac, and the growing number of online casinos that are starting to offer it as a payment method, Interac is essentially for everyone. At present, the following Canadian financial institutions offer Interac services:
More and more Canadian banks are making it clear whether or not they support Interac, thanks to bank cards issued, bearing the Interac logo. As with any payment method, there will be a small fee incurred for the transfer of funds from one account to another, and this will understandably depend on your particular financial institution.
How Does Interac Compare?
As stipulated above, Interac is a favourable payment method when compared to certain alternatives, mostly due to the lack of third parties, and the fact that payments are issued directly from your chosen financial institution.
We already know that Interac is different to credit and debit cards, with quicker transfer times. The following table will provide a handy reference for how Interac rates out of 5 when compared to other popular payment methods used at online casinos in Canada.
While none of the aforementioned payment methods score a full 5 across the board, it’s clear that Interac fares exceptionally well when compared to the others. The score of 3.5 is likely to improve, as this is still a fairly new payment method, and one that is quickly becoming more and more available at reputable banks and online casinos. The list below shows online casinos in Canada that support Interac as a payment method:
It can always be a little daunting, trying something new, especially when it comes to finances. Thankfully, Interac has proven exactly why it’s such a safe and versatile payment method, and why it continues to grow in popularity in Canada. Chances are, you’ve been banking with a financial institution that supports Interac this entire time – why not give it a go at one of your favourite online casinos, today!
Here, at Gambling Insider, we’re always looking for innovative ways to enable our Canadian players to make their deposits, while also making it an easy and convenient process. Even though the online casinos we endorse have the best of intentions, banking can still be tricky. This is the reason we’re always looking for better, safer and more effective ways to help our players make and receive faster payouts.
Fortunately, matters run smoothly most of the times. But there are the occasional hiccups that can delay a payment, and we know that this can be quite frustrating to a player. So, we recommend that, when you sign up with any one of our online or mobile casinos, you keep a couple of things handy, namely: a copy of your identification card/document and proof of address.
Secure and Reliable Payment Options
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Click2Pay makes real money gaming easy online. This simple yet safe banking method facilitates eWallet transactions with top Canadian casinos.
ClickandBuy is an attractive option for online casino deposits. This system allows players to deposit funds safely and securely with just a few clicks.
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One of the web’s most advanced payment systems, EcoCard has become the choice of online and mobile casino enthusiasts. Find out why and get signed up
A MasterCard-supported e-wallet service that offers real and virtual cards, EcoPayz is a great online gambling payment method in Canada. Learn more.
Flexepin is a new brand of prepaid e-vouchers accepted as a payment method by top online casino Canada sites. Learn about its benefits and how it works.
iDeal is a method for carrying out secure online monetary transactions between two bank accounts. Find out everything you need to know about iDeal.
iDebit Banking makes playing real money online casino games easy. Our banking transfer guide tells you how to use this safe, secure banking method.
Find out why more online and mobile casino players from Canada are opting to use Interac Online. This trusted banking method is safe, secure and simple.
Safe and simple, debit cards let you make a deposit at an online casino with ease. Learn why so many Canadian players prefer using debit cards online.
Skrill offers safe and secure deposits and withdrawals at leading Canadian casinos online. Learn more about how this trusted payment method works.
For secure, convenient transactions, online casino players in Canada should consider PayPal. Setting up and using your account could not be simpler.