Does Interac Work?
Interac is a Canadian banking system that offers multiple ways to transfer money between the user’s bank account and the seller’s service. It can also be used to send money to other people just with the use of an e-mail address and a Canadian bank account. As Interac works with all the major banks of Canada, it is available to almost every resident of the country.
Interac has multiple services, and the two most important for casino players are Interac e-Transfer and Interac Debit. These allow the user to make payments using their Apple or Android phone, e-mail, text message, or a debit card. Similar to other instant banking services in the world, such as Giropay in Germany and Secure Vault Payments in the US, it allows the user to make purchases without sharing their financial information with the seller.
If you live in Canada, you may have already used Interac or at least seen it around. It is very commonly used to send money to loved ones, to pay for a coffee, or to buy things online. Interac can also be used to make deposits at online casinos and the process is remarkably simple.
Just start making a deposit as you normally would, putting in the amount you wish to deposit and then selecting Interac as your payment method.
If you are a smartphone user, you can use Apple Pay or Google Pay to make your purchases, verifying the deposit with either Face ID, fingerprint, or passcode.
If you are using your computer instead of a smartphone, you can verify your deposit by logging in with your online bank details.
Both methods are easy to use and will guide you through the payment, and will not require you to fill in card numbers or personal information, as the verification will securely make sure it is you making the payment.
Interac can be used to withdraw funds from your casino account as well. However, you should take into account that processing the payment and for the money to be available to you might take multiple days, depending on your online casino. There are also some withdrawal fees, which you might want to compare with other withdrawal methods to get the most out of your winnings.
To make a withdrawal with Interac, just make a withdrawal request at the casino and choose Interac as your preferred transaction method. You may be prompted to go through the verification process once more, similarly as to when you made your deposit.
Safe are Payments with Interac?
Interac is one of the safest payment methods around, as it works in close cooperation with not just all the major banks in Canada, but big corporation names such as Google, Apple, and MasterCard. Interac will never share the user’s financial information, such as bank account or debit card number, with the online merchant, adding an extra layer of security to all your money transactions.
Direct banking services such as Interac are commonly used and well-loved for their simplicity and security. The drawback is that direct banking services, Interac included, are often limited to use only in one country, so other options must be considered when transferring money to foreign recipients. However, simply for Canadian use Interac is great, as it enhances the security of all payments both online and offline.