Our Recommended Interac E-Transfers Casinos

Interac e-Transfers is a payment method that is highly secure and allows you to transfer funds from your Canadian bank account to a merchant or casino without revealing sensitive financial information.

Many Canadians who shop online are already familiar with using Interac, but some may not know that it can be used to fund gaming accounts as well as make other purchases over the internet.

Interac is becoming more popular as a deposit method all the time and many online gaming sites have added it to their cashier systems.

Interac offers a number of advantages to players. Check out our list of trusted casinos and the ins and outs of using Interac below. Happy gambling!

Best Interac Casinos for 2019

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Advantages of using Interac

interac_is_a_well_knownThere are several benefits in using Interac as a depositing method at online casinos.

Popularity
Interac is a well known online purchasing method for goods and services, so many Canadians will take to the method easily when it comes to depositing in a casino account.

Withdrawals
One advantage of using Interac is that it is tied directly to your bank or credit account so many casinos that accept it as a deposit method will also let you withdraw back to it. Rather than waiting up to seven working days for your winnings to appear on a credit or debit card, or paying fees for bank wires, your payout can go right to your account.

Anti-Fraud
Multiple layers of security ensure players that their bank account or credit card numbers don’t need to be given to any online casino. While you can send money to and from your bank and Interac account, and transfer from casino to Interac, it provides another level of security.

Disadvantages of using Interac

Expiry
The recipient must complete actions to affect every transaction. If the casino somehow neglects to debit your Interac account, yet credits your gaming account, the transaction’s life-cycle will expire in 30 days. If a player doesn’t notice that they played for free it may take awhile to sort it with the merchant.

Phishing
Transaction notices are done via email. All electronic transactions are as vulnerable to phishing as the sender is. If a player doesn’t log into their account directly but responds to an email asking for passwords or other information, they could give bad actors access to their accounts.

Interac Online vs Interac e-Transfer – What’s the Difference?

At some casinos you may across the option to select etiher Interac Online or Interac e-Transfer but what’s the difference?

Interac e-Transfer: Commonly used to transfer funds to family/friends, this method enables you to make a deposit by entering in an email address and is widely available at most financial institutions and credit unions.

When playing at an online casino, they will provide you with a specified email address and security question/answer which you then submit from your bank account.

Interac Online: This option is more seamless in that the online casino provides a payment gateway for you to transfer funds directly from your bank account.  It will step you through logging into your bank account directly and there is no need to input an email as with using Interac e-Transfer.  While this process is slightly faster than using e-Transfer, the downside is that it’s not as widely available.

For example, at Casino Cruise, Interac Online is only available to customers of the following financial institutions: First Nations Bank of Canada, RBC Royal Bank and TD Canada Trust.  It is also available to select credt unions depending on which province you are from.

How to make a deposit using Interac at an online casino:

Your first and any subsequent deposits are easy to execute.

Create an account at any of the casinos listed above, go to the Interac section (which is available in over 250 financial institutions including the five big Canadian banks), select the amount you want to deposit and follow the prompts which will then transfer funds from your bank account instantly.

How the funds are processed

Merchants may have a choice of processors when executing an Interac e-transfer. One company that handles the transactions is Gigadat. The company provides online merchants with a variety of payment solutions.

Due to some players developing a case of buyer’s remorse after losing, or simply planning to defraud the merchant, online gambling is considered high risk in the payments business. Merchants and banks need an intermediary system that minimizes the risk of chargebacks.

Gigadat does just that through their Interac processing service for pay-ins and payouts. Since players cannot reverse a transaction after it is deposited by the merchant, the rate of successful transactions is near 100%.

The services Gigadat offers Canadian online casinos include a deposit solution as well as bank withdrawals via email authentication and direct bank transfers.

These transactions should appear to the bank simply as “Gigadat” and not show the source of the funds on the first pass. This allows cashouts to some banks that most often reject any suspected gambling transaction.

Bottom Line on Interac Casinos

Interac e-Transfers is a Canada-only deposit and withdrawal method that is widely popular, being offered at over 250 financial institutions including any of the big 5 banks in Canada.

The transfers will only show on your bank statement as Interac, not casino deposits, and your security is always assured.

It is one of the fastest methods for deposits available.

FAQ

A

What is Interac Flash?

Interac Flash is a contactless debit card solution that can be used when making purchases at a merchant checkout and can also be used on NFC enabled mobile devices. It is not used for playing at online casinos.
A

Is Interac Online the same as Interac e-Transfer?

No. Interac e-Transfers are transfers made by providing an email address whereas Interac Online are transfers made through a payment gateway. See above.

A

Where can I use Interac Online?

While Interac e-Transfer is widely available at most financial institutions, Interac Online is usually only available to a select few. For example, in our step by step guide we demonstrate using Interac Online at Casino Cruise which only accepts transactions from RBC Royal Bank, First Nations Bank of Canada, TD Canada Trust and a select few credit unions.

A

How long does it take to deposit?

It’s extremely fast and is processed in real time up to 30 minutes.

A

Which banks provide Interac e-Transfer?

Interac e-Transfer is widely available at most financial institutions with a list of over 250 available which can be seen here on their official website. All of the major banks offer it as well with RBC even having a dedicated page about it on their website.

A

Does Interac e-Transfer work in the US?

No. Interac e-Transfer is only available to those who are customers of a Canadian financial institution.

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