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Interac

Interac betting banner

Interac is one of the most convenient payment methods for when Canadians are looking to move their dollars to and from their betting accounts. It is simple to set up and then allows you to enjoy instant deposits and withdrawals, but what is even more important is the fact that you do not have to share any private information with the online bookmakers. 

Everything is managed by your own bank and Interac, who is governed by a board of shareholders from members across all the top banks in Canada which means we are talking top-level security here, and so this is a payment option that will be sticking around for a long time to come yet.

What is Interac and how does it work?

Interac acts as the bridge between your bank and the online bookmaker and so whenever you want to add some of your Canadian Dollars to your betting account, Interac can be used to make that transaction as fast and efficient as any other available payment method out there right now. To make things as easy as possible, Interac offer various solutions with the following three being the most popular: 

What bookmakers support Interac?

The popularity of the Interac payment method is there for all to see, and once you start scanning all the top bookmaker sites then you will frequently come across that unmistakable Interac logo. As we have already made clear, this is a payment method that offers complete simplicity and above all, a level of security that other payment methods just cannot match for Canadians. 

At the end of the day, you need to choose the option that suits your own personal requirements and what works best for you. But there is a good reason why the Interac option keeps getting mentioned by Canadians across the county and so if it’s good for thousands of other Canadians, then there is a good chance that it will be good enough for you, too. 

Here are some of the top bookmakers currently providing the Interac banking option for their customers:

Are there any fees using Interac on Canadian betting sites?

Interac will not usually include any fees when you make a deposit into your online betting account. Bookmakers usually absorb the small fees imposed by Interac and this is standard practice for all the top online bookies out there. The Interac e-Transfer does often include a small fee but it is the Interac Online option that you will most likely be using with bookmakers. To be on the safe side, check with your own bank and see what their rules are when it comes to using Interac. 

Withdrawals, on the other hand, will almost always incur additional fees and this is just something that local banks set up, so there is often no secret way around this. But again, we recommend making a few quick checks with your bank to make sure that no unwelcome surprises end up on your bank statement.

How to use Interac at an online bookmaker

Depositing money using the Interac payment method is about as easy as it gets, but for confirmation we have outlined the process in a simple step by step guide below:

  1. Choose the Interac option within the banking page
  2. Sign into your own personal bank account using your online login details
  3. Choose the amount that you wish to deposit into your betting account
  4. Confirm the amount to complete the transaction
  5. Check to see that the funds have arrived and place your bets!

Security and safety when using Interac

As we have already mentioned throughout our Interac guide, this is one of the most safe and secure payment methods available to Canadian punters right now. Not only does it allow you to keep your banking details off the betting site itself but the middle party, in this case Interac, is governed by all the top banks and credit unions in the country. The trust factor goes a long way in the online world and sports betting is no different, and this is where Interac excels.

As with all modern banking methods nowadays, you can depend on the banks to use the most advanced technology and infrastructure to ensure full security against your money and details. Convenience is the keyword when using Interac and the fact that their process combines those high-tech encryption services with fast payments means that you, the end user, can get on with your online entertainment, safe in the knowledge that your money is being moved around securely.

Interac is a top online banking option which has been created and backed by the top banking members, and the fact that you don’t need to divulge any personal information is one of the main reasons as to why Interac is one of the most preferred options for the modern-day betting fan in Canada. The occasional fees that you sometimes come across are usually happily accepted due to the efficient banking that the method provides.

Pros and cons of using Interac

Pros

Cons

Conclusion

Interac is a Canadian-based payment method and so you are not going to see the option on every banking page of every online sportsbook. However, all the top bookmakers that accept Canadian players know the importance of being able to deposit and withdraw money freely and without hassle, and this is why they have decided to add Interac into their banking setup. If you do see the Interac logo on your chosen betting site then you know that easy banking is coming, but just make the initial checks for any fees first to ensure there are no surprises. 

Interac Betting Canada - FAQ

Does Interac have any limits?

The limits will be set by your bookmaker and the banking institution and so you will need to check up with both of these in relation to the limits available to you. The bookmaker limit will likely be a lot smaller than the limit set by the bank, but it is always useful to know where you stand with both before making a transaction.

Is Interac a safe and reliable banking option?

Yes, Interac is a safe and reliable banking option for Canadian betting fans and due to the localised setup within Canada, it should be an option that can benefit you and your betting in the future. More and more betting sites are also including the Interac option as its popularity continues to grow.

Is Interac Online my best option for betting payments?

Yes, more often than not, the Interac Online version is going to be the best option for when you are funding your betting account. It allows you to carry out the whole process within the bookmaker’s payment gateway and so you don’t need to leave the site at all.