Interac casino guide

Interac vs Interac e transfer

Quick heads up – when you go to deposit, you used to see a few different options listed, such as Interac e-Transfer and Interac Online. However, this has now been streamlined so you’ll only see one option appear.

Don’t sweat it, you’ll still have the same two options to move money using Interac. You just won’t see them until the payment gateway appears. Both work as normal, but here’s how they differ and which one you’ll probably end up using.

Interac online casino

Interac Online is the streamlined option, often referred to in the payment gateway as “Request Money”. When you pick this, it redirects you straight to your bank’s login page. You sign in, approve the payment, and boom – money’s in your account instantly. No emails, no security questions, just a quick redirect and you’re done.

Previously, not all Canadian banks supported it. This included major networks like CIBC, for example. However, that’s now changed with pretty much all major Canadian banking institutions accepting Interac deposits at casinos via online banking.

However, one key thing to remember is that most casinos only use Interac Online for deposits, not withdrawals. So if you want to cash out, you’ll probably need e-Transfer.

Interac e-Transfer casino

Interac e-Transfer works a bit differently. The casino gives you a variety of information such as their email address and a security question. You then open your bank’s website or app separately, set up the transfer with those details, and send the money. It’s still instant for deposits, and your funds show up right away.

It works with pretty much every Canadian bank and credit union out there. TD, RBC, Scotiabank, BMO, smaller credit unions – it doesn’t matter. If you can send an e-Transfer to a friend, you can use it at a casino. Plus, when it comes time to withdraw your winnings, e-Transfer is what most casinos actually support. You just need to provide the email address and phone number connected to your bank for the casino to send the winnings.

Yeah, it’s a couple extra steps compared to Interac Online, but it’s reliable, widely accepted, and handles both deposits and withdrawals. That’s why most Canadian players end up using Interac e-Transfer in some form.

Key differences

Here’s how they stack up side by side:

Bottom line: Online is the best bet for making deposits as it’s instant, requires fewer steps, and much less manual work. However, e-Transfer will likely be needed to cashout any winnings – so it’s good to get familiar with this process too.

Interac deposits and withdrawals at online casinos

Using Interac online banking at casinos works pretty much like paying for anything else online – you log into your bank, confirm the transaction, and you’re done. The main differences? Casinos have their own deposit limits, and if you’re withdrawing for the first time, you’ll need to verify your identity before cashing out.

Processing times are a bit different too – deposits hit your account instantly, but withdrawals take a couple days since the casino needs to process them first. The good news is Interac handles both sides of the transaction, so you’re not juggling multiple payment methods.

Making a deposit

Depositing is straightforward. Here’s what you’re looking at:

For Interac Online:

• Go to the cashier and select Interac
• Enter your deposit amount
• Within the payment gateway, choose your bank from the list
• You’ll be redirected straight to your bank’s login page
• Sign in and approve the payment
• Money’s in your account right away

For Interac e-Transfer:

• Go to the cashier and select Interac
• Enter the amount you want to deposit
• The casino gives you their details – such as email address and security question/answer
• Open your bank’s website or app in a separate window
• Send an e-Transfer using the details the casino provided
• Funds show up in your casino account instantly

Keep in mind: Most casinos cap deposits between $3,000 and $10,000 per transaction. Your bank might have its own daily or weekly limits too, so check that if you’re planning bigger deposits. No fees from the casino side, but your bank might charge $1-$3 for e-Transfers.

Withdrawing your winnings

Cashing out takes a bit longer than depositing, but it’s still pretty simple:

The withdrawal process:

• Go to the casino’s cashier/withdrawal section
• Select Interac (usually e-Transfer) as your method
• Enter how much you want to withdraw
• If it’s your first time, you’ll need to upload ID for verification (standard security stuff)
• Confirm the withdrawal request
• Withdrawal times vary
  • If you have auto-accept on, the funds are available within 30 minutes on working days
  • If you don’t have auto-accept on, you’ll be sent a link to accept the payment and the funds are available within 24 hours

Important stuff to know: Minimum withdrawals are usually around $20, maximums often between $3,000 and $7,500 per transaction. If you’ve claimed a bonus, you’ll need to meet the wagering requirements before you can cash out. Once the casino approves your withdrawal, the money moves through Interac pretty quick – it’s the casino’s processing time that takes a day or two, not Interac itself.

Interac alternatives at Canadian online casinos

Interac is the go-to for Canadian players, and for good reason – it’s been ranked as Canada’s most trusted financial services brand for ten consecutive years by the Gustavson Brand Trust Index. Most Canadians already use it for everyday banking, so it just makes sense at casinos too. Sure, it might not be as slick as some newer alternatives, but it’s reliable, widely accepted, and it works. That said, you’ve got other options depending on what matters most to you. Here’s what else is available.

E-wallets

E-wallets like Skrill and Neteller used to be pretty popular, but they’ve lost some steam lately. The idea is simple – you load money into your e-wallet account, then use that to deposit at casinos. It adds an extra layer between your bank and the casino, which some players prefer for privacy.

The downside? A lot of casinos exclude e-wallet deposits from bonus eligibility, so you might miss out on welcome offers. Plus, transferring money from your e-wallet back to your bank account can come with fees that add up. They’re still around and work fine, just not as appealing as they used to be.

Mobile payment apps

Apple Pay and Google Pay are growing fast, especially for mobile players. If you’re gambling on your phone, these are super user-friendly – just use your fingerprint or face ID and you’re done.

No typing in card numbers or logging into your bank. They’re fast, reliable, and becoming more widely accepted at Canadian casinos. If you do most of your playing on mobile, definitely worth considering. The main limitation is just that not every casino supports them yet, but that’s changing.

Credit and debit cards

The old reliable option. Visa and Mastercard are accepted pretty much everywhere, and most people already have one in their wallet. The problem? Some Canadian banks block gambling transactions on cards, so your deposit might get declined. Plus, casinos or banks might charge processing fees.

There’s also a bit of uncertainty here – Ontario’s been looking at tighter regulations around credit cards for gambling, so this option might become more restricted in the future. Still works for now, but it’s not as smooth as Interac.

Cryptocurrency

Crypto’s definitely more mainstream than it used to be, but it’s still kind of a mixed bag. You’ll mostly find it at offshore casinos registered in places like Curacao – the shadier end of the spectrum. Despite what crypto fans say about “instant” transactions, deposits usually take 15 minutes or more depending on network congestion. Plus, Canadian banks and financial institutions are still pretty hesitant about crypto money.

If Canada moves toward full regulation like Ontario, crypto probably won’t be allowed at licensed casinos. It’s an option if you’re into it, but not the most practical choice for most Canadian players.

Prepaid options

Things like Paysafecard and prepaid vouchers are still around, but they’re trending downward. The main appeal is anonymity – you buy a voucher with cash, use the code to deposit.

But they’re deposit-only, so when it comes time to cash out your winnings, you’ll need a different method anyway. Just adds extra steps for most people. Unless you specifically don’t want to link your bank account, there’s not much reason to go this route anymore.