Interac is one of the most popular payment methods in Canada, with people able to use it at more than half a million merchant locations across the country.
Interac Betting Sites: Sportsbooks that Accept Interac
Top Bookmakers That Accept Interac
1
Many sports betting sites currently offer Interac as a payment method on their sites, making it really easy for people to fund their betting accounts.
Interac facilitates numerous types of financial transactions including Direct Payment (IDP), cash withdrawals, e-Transfers and online payments.
IDP is Canada’s debit card service for the purchasing of goods and services which runs on similar lines to Visa and Mastercard. Cards can also be used to withdraw cash from ATMs.
The Interac e-Transfer system allows customers to send money to any individual who has an email address and bank account in Canada.
The online service is widely viewed as one of the most secure payment methods, as it allows people to pay for goods and services directly from their own bank accounts.
The impartial experts at BettingTop10 have saved you time and effort by taking a closer look at Interac as a payment method for gambling.
Advantages and Disadvantages of using Interac
As with any payment method there are pros and cons attached when it comes to using them for betting purposes. For Interac, these are as follows:
Pros
Cons
- Interac is accepted by the majority of online gambling operators in Canada.
- Transactions occur online and in real-time meaning deposits hit your betting account almost immediately.
- Each transaction must be approved by your financial institution, allowing you to keep full control of your spending.
- Chip pin technology on Interac debit cards offers users an increased level of security.
- Interac e-Transfers allow you to keep your payment details completely safe and secure.
- Minimal fees are applied to Interac and are much smaller than many other payment methods.
- A handful of online gambling operators in Canada are yet to offer the option of making Interac e-Transfers on their sites.
- Some betting sites have restrictive limits for deposits and withdrawals via Interac.
How to deposit funds using Interac
Each gambling operator has their own process for depositing funds into your betting account. However, as a general rule-of-thumb most will require you to follow these steps.
- Enter your username and password to login to your chosen betting site.
- Click the ‘My Account’ section.
- Search for the ‘Deposit’ link to access the different payment options.
- Choose ‘Interac’ to start the process.
- Enter the amount you wish to deposit along with any other requested details.
- If you are making an e-Transfer, you will be asked to login to your banking platform.
- Enter the requested information and click ‘Confirm’.
- If you have sufficient funds, your deposit will be confirmed and you can start betting.
How to withdraw funds using Interac
Much like making deposits, each gambling operator will have their own unique process for facilitating withdrawals. Most will be along similar lines to the following:
- Enter your username and password to login to your chosen betting site.
- Click the ‘My Account’ section.
- Search for the ‘Deposit’ link to access the different payment options.
- Choose ‘Interac’ and enter the amount you wish to withdraw.
- Enter any other requested information and click ‘Confirm’.
- Your withdrawal will be actioned in line with the stated processing times on the site.
Frequently asked questions
Which banks allow me make betting deposits via Interac?
The Interac website lists nearly 100 financial institutions that currently support betting transactions via this method.
Do I need an account with Interac?
No, providing you possess one of the supported payment methods from your banking service provider there is no requirement to open an account with Interac.
If I use Interac, will I be charged?
Some operators charge a small fee for using Interac. Details of these will be listed on the respective betting sites.
How long will it take for my deposit to be completed?
Providing you have sufficient funds in your bank account, your deposit will be credited to your betting account almost immediately.
How do withdrawals take?
Each site has its own set of rules, but most withdrawals are completed within 3-4 working days.
- Betting Sites
- Sportsbook Payment Methods
- Interac Betting Sites