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Online Casino Deposit and Withdrawal Methods: Pros and Cons of Interac

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Interac is one of the trusted payment methods used by gamblers in Canada who want to engage in secure online gambling. You will find many licensed online casinos in Canada supporting this method of payment, and it offers high levels of safety and security. Based in Toronto, this payment option can be used by those that have a bank account at one of five leading banks in Canada. With a debit card option as well as a direct payment, this banking method remains a safe and simple way for players to manage casino funds.

If you want to get started playing at a leading Interac online casino, check out the pros and cons of choosing this method. You will then be able to make a decision on whether this is the right option for your online gambling needs. 

Benefits to Using Interac

There are many amazing benefits to using Interac at a casino site, and players in Canada have been trusting this option for many years. Here, we take a look at the advantages of using Interac and discuss how these are reasons for many players to continue using this secure option for gambling purposes. You can check Interac casinos review posts and see how players can conduct fast and secure payments and enjoy accessing top-rated real money games.

Award-Winning Service

Since Interac started being used for online purchases, it has received numerous awards. These awards let you know just how trusted the service is and why players continue using Interac payments online. In 2018, the company won the Fintech Company of the Year award, and one year later, it was named the Most Trusted Financial Services Brand. 

Safety and Security

The security measures in place when using Interac are the best in the industry. As a player, you will not have to provide a casino with any personal or financial information. Users will just set up the service by accessing their online bank account. This allows online casinos to receive payments without having to offer any sensitive details. The best Interac casinos will also have security measures in place and will process all payments using encryption software. 

There is also a Zero Liability program that is offered to ensure your transactions are always protected. If any fraud occurs, you will be eligible for a 100% refund. This program not only protects users from fraudulent transactions but will also reimburse funds for any system malfunctions or technical errors that may occur.

Ease of Use

Gamblers who want a fast and safe way to make an instant deposit to a casino account will benefit from choosing Interac. This service is very easy to use and will not require any financial details. All you have to do is register at a licensed Interac casino and choose this as a deposit method. You will then be redirected to your online bank, where you will sign in to complete the transaction. Funds will be instantly debited from your bank account and transferred to the casino.

The process is so simple that more than 80% of Canadians using online banking services in 2018 were making use of Interac transfers. With instant payments and secure access, Interac remains one of the most used methods for players at online casino sites.

Interac Drawbacks

While there are many advantages to making use of this banking option at a casino site, there are some drawbacks. If you want to engage in real money play and are considering using Interac to fund an account, be sure to take a look at the drawbacks. There are not many negative aspects to using this payment option, but players should be aware of a few things that may cause problems.

Only Available to Canadians

The main disadvantage of playing at an Interac casino is that this payment method is only available for those in Canada. Players must have an account with a Canadian bank to make any transactions via Interac. Any gambler with an account with one of the big banks in Canada will be able to safely use this option. Some of these banks include Tangerine, National Bank, Desjardins, and President’s Choice financial. There are also a number of credit unions that will support Interac payments.

Possible Fees

When using this method for funding a casino account there may be some fees that are imposed. While most operating casinos will not charge players any fee, there are some sites where a commission will be charged. The amount will vary per site and can range from 2.5% to 5% of the total transaction. 

Interac will charge a fee when making any deposit to an online casino, and this will be between $1.00 and $1.50. The amount of the deposit does not alter the fee. Some casinos will waive these fees and take on the charges, allowing players to make free transactions. However, possible fees are something to watch for when playing at certain sites.