Online casino gambling is entirely legal in Canada. As such, most banks will allow players to make deposits using Interac. Interac is the most popular online payment system in the country, with over half of all Canadian online purchases made using the system. This includes online casinos.
For Canada, Interac casino deposits make up a significant percentage of deposits made each year. Today, we will review all of your options for making Interac casino deposits, including the benefits of depositing with Interac. You'll also learn how to make Interac casino deposits at online casinos.
Online Casinos Accepting Interac
Introduction to Interac
Interac is a popular payment method among Canadian consumers. It’s a debit card that allows you make casino payments directly from your bank account. Many Canadians refer to it as simply ‘debit’. Depositing and withdrawing money at an online casinos with Interac is fast and easy.
Since it’s not a credit card, with Interac you’re always playing with money you already have. Many players feel that it allows them to have greater control over their casino spending.
The following sections will give you with an overview of how Interac works at online casinos including Interac casino payouts, advantages and disadvantages of the payment method, Interac safety and fees.
Interac Payment Types
Before making Interac casino deposits, it's essential to know which Interac options your online casino accepts. Here's a quick list of the different payment options available through Interac.
Advantages Of Interac Casino Deposits
Some of you may wonder why you should make Interac casino deposits over making a credit card casino deposit, or usign another payment method. Here are some of the main advantages of using Interac for deposits.
How To Deposit Using Interac
If you intend to deposit money at an online casino using Interac, double-check to see if your casino accepts Interac casino deposits. For those in Canada, most Canadian online casinos allow Interac casino deposit.
Here are the steps most casinos will require you to follow in order to make a Interac casino deposit.
Navigate to Cashier Page: Once you sign up for your account, log in to the site and go to the Cashier section. This is also sometimes called the Banking page.
Choose Deposit: From there, click on the Deposit button. Look for the yellow Interac symbol that will be associated with your type of Interac transfer. This will be in the list of payment methods.
Choose Correct Interac Option: There will likely be at least two options for Interac casino payments. Click on your preferred option to start the process. The first option will likely be Interac debit or the popular e-Transfer option available to most people who hold a Canadian bank account.
Indicate Deposit Amount: The deposit process is twofold. First, you will enter the amount you wish to deposit. In some cases, you may need to enter your email address or phone number.
Interac Website: Next, the site will open a new window where you will log in to Interac's website and complete your Interac deposit. You will need to provide your banking credentials like your Interac debit card number and password or Personal Identification Number (PIN).
Interac Deposit Completed: Once you have entered your details on Interac's website, in many cases your deposit will be complete. Some casinos may require you to click a final confirmation button to initiate the deposit.
Note that when you make Interac casino deposits, there will be a fee. However, the fee is much lower than depositing with a credit card. Fees range from $0.11 to $0.465 per transaction. For a $100 deposit, you’ll only pay $0.47 with Interac as opposed to $2.50 for a credit card.
How To Withdraw Using Interac
Now that you’re comfortable making Interac casino deposits, you should be able to easily cash out with Interac casino withdrawals. This is one of the most significant advantages of using this payment method.
Interac casino withdrawals are easy. You can expect it to be a 4-5 step process depending on the online casino. Most often you can complete Interac casino withdrawals in four steps. These steps are outlined below:
Here's how to initiate your Interac casino payouts:
Navigate to Cashier Page: Log in to your online casino account and again navigate to the Cashier or Banking section.
Select Withdrawal Method: Click on the Withdrawal tab and select Interac. This will be fairly similar to the process you followed when you deposited your funds.
Indicate Payout Amount: Enter your personal information including your password or PIN. Indicate how much of your funds you wish to withdraw.
Confirm Withdrawal: All you have to do next is click the Withdraw button to process your withdrawal.
Not all online casinos have the same Interac casino payouts terms. Before you make any Interac casino withdrawals, check the terms and conditions. These are usually found in the footer of the website. Check for any minimum account balance requirements, withdrawal fees, and processing time.
On average, it can take from three to five days to receive your money. Note that many casinos will only support Interac e-Transfer for withdrawals. Otherwise, you may not be able to cash out using Interac.
Pros And Cons Of Interac Casino Deposits
Interac Casino Deposit Fees and Charges
Most Interac casinos cost CA$1.50 or less as a deposit or withdrawal fee. These come from the bank that issued the card -- not the casino site itself. Casinos want your business, so they don't charge fees for debit card payments.
If the bank that handles your Interac payments isn't a participating member, then each transaction might cost as much as CA$4.00. Keep in mind that the bank removes CA$0.005759 on any Interac Debit transaction. At this time, Interac e-Transfer doesn't charge such a fee.
Interac is safe. In fact, it's one of the safest options for making online casino deposits. When you make Interac casino deposits, all data is encrypted by the Interac transfer system. This means that hackers will not be able to intercept the information being sent from your bank to the online casino.
Similar Banking Options
While Interac is one of the most popular ways to make payments online in Canada, it is not the only option. There are several alternatives to making Interac casino deposits. Here are the most common alternatives you'll find at online casinos:
A complete list of available options will be listed on the casino's website. If you find that you cannot make a deposit using the options listed, contact customer support. Customer support may have options not typically published for making online casino deposits. They may also be able to give you additional guidance if your Interact casino deposits happen to fail.
How We Rank Banking Methods
When ranking casinos based on banking methods, there are several things we look at. Here’s a quick list of what we look at when ranking banking methods.
Interac Casino Deposits FAQ
How do I deposit money into an online casino?
Online casinos allow you to make online casino deposits using credit cards, Interac, e-wallets and prepaid cards or vouchers. For Canadian players, Interac offers a wide variety of solutions for making online casino deposits directly from your bank account.
Can you deposit money at a casino?
Absolutely. You can deposit money at online casinos using various currencies and even cryptocurrency. For standard currencies, you can use Interac, credit cards, bank transfers, e-wallets and prepaid vouchers for deposits. Each casino will list which options you can use to make a deposit.
What is the highest-paying online casino?
The highest-paying online casinos are those with the best RTP, also known as Return to Player. This is the payout for the entire casino, not each game. Game RTP will vary but is usually between 95 and 98 percent. An RTP of 97 percent or greater is considered a fantastic RTP. Anything under 96 percent should be largely avoided.
What is the minimum deposit for online casinos?
The minimum deposit for online casinos varies depending on the casino. Some have minimum deposits as low as $5, with others having minimum deposits of around $25. The average minimum deposit at a casino is $20. Note that some online casinos require a deposit of $20 or more to activate any online casino bonuses.
Which online casino is the easiest to win?
Winning at online casinos is all about picking the games with the lowest house edge. The casino game with the lowest house edge is blackjack at around 0.5 percent. Baccarat has a house edge as low as 1.06 percent. For slot-style games, video poker is your best option. You can eliminate the house edge on some video poker games.
Can I transfer money from my bank to a casino?
Yes, players have many ways to move money from their bank account to a casino account. Interac deposits are a good option for Canadians. US players (and everyone else) can use bank wire transfers, bank cheques, ACH, and eChecks.
Many casinos accept Visa and MasterCard debit cards, so any American with a bank-issued ATM card can move cash to their player account.
What banks allow online gambling deposits?
Most US banks support online gambling deposits. Credit card groups like Visa, MasterCard, American Express, and Discover exist as networks of banking institutions. If you receive a Visa card, it's issued by a specific bank.
When you make a casino deposit, the bank that issued the card decides whether to accept the payment or not. Just because one VISA-affiliated bank declines payment, it doesn't mean another one will. Interac deposits work the same way.
Above, we mentioned that most US banks support gambling deposits. That isn't always the case for online casino withdrawals. From the perspective of a bank, a casino deposit goes from a bank to an online merchant. A casino payout is going from a known gambling site to a bank, so US banks are more likely to block withdrawals.