Interac e-Transfer Betting Sites in Canada

Interac canada payment methodsInterac e-Transfer has become one of the most popular forms of online banking in Canada, with the platform also allowing for a hugely convenient option when it comes to placing bets, as well as depositing and withdrawing cash. Interac enables users to quickly send money to anyone of their choosing, including some of the most popular betting sites available to Canadian gamblers, with just an email address required in order to gain access.

However, with this form of banking still being relatively new to some, this page will deliver all relevant information surrounding Interac, perfect for those looking for an efficient method of banking when wagering online.

The Best Interac Betting Sites

Expert Rating
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$20
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  • Only for Canadian Players
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What is Interac?

Interac was initially founded in 1984, with the electronic fund transfer service targeting Canadians operating online. Having initially been known as the Interac Association, the name was changed to the Interac Corporation in 2018.

The organization now offers a range of products and solutions, which are utilized an estimated 16 million times each day in Canada. All in all, the three standout services offered by Interac are as follows:

  • Cash, Debit, and Flash pay services for in-person retail purchases and withdrawals from automated banking machines (ABMs).
  • An online payment system that can be used to fund Canadian Government licensed online casino accounts, such as those who operate at PlayNow.ca in BC and Montreal, or PlayOLG.ca in Ontario, etc.
  • Interac e-Transfer, an easy way to send, request, or receive funds directly from one bank account to another.

Why Use Interac?

Interac is a non-profit interbank network that delivers debit cards and other important services, including e-transfers. With safety when operating online being more important then ever, Interac will keep your personal details secure at all times whenever you spend cash online, whether it be with a department store of betting site. When making payments online using Interac, the betting site will only be able to see the amount of cash selected, rather than all of your bank details or credit card information, as is the case with some other payment options. As a result, there is almost no chance of unexpected withdrawals or unauthorized payments.

Interac e-Transfer website

Interac e-Transfer website

Interac is also supremely quick, meaning that transactions are processed as speedily as possible at all times. Whether you are looking to deposit or withdraw cash with your bookmaker, transactions are processed almost instantaneously, meaning that there are no frustrating waiting periods for customers.
Interac is also aimed specifically at Canadians, meaning that more and more of the countries betting sites are now offering the platform as a banking method. For sites where Interac is not accepted, punters must generally select from a less efficient option, or move on to a new platform.

sportsinteraction Interact

sportsinteraction accepts Interact

Despite there being a small flat rate for every transfer made using Interact, which usually sits between $1-$1.50, Canadians still love the service because of its speed and ease of use. Fees do vary depending on your bank, however some now provide complimentary Interac e-Transfers in an attempt to attract new customers. While many US-based payment providers have chosen to shun other e-Transfer gambling solutions, it is pleasing that Interac support the Canadian gambling industry.

How to Deposit Using Interac

With the number of betting sites offering Interac as a method of banking to Canadian punters increasing all of the time, let’s take a closer look at just how deposits are made using the popular e-transfer platform. Once you have created an account with your preferred bookmaker, the following steps must be taken:

  1. Select “Interac” as your preferred method of banking.
  2. Enter the amount of cash in which you wish to deposit on your betting account.
  3. Click on “Generate Payment Details”.
  4. Log in to your Interac account via their website or mobile app in order to process the deposit using details provided by the bookmaker.
  5. Confirm your deposit and wait for your funds to reach your account within minutes.

How to Withdraw Using Interac

The process involved with withdrawing funds using Interac is also relatively simple, as well as being just as quick. Follow these simple steps in order to withdraw winning from your preferred betting sites using Interac:

  1. Go to the cashier section of your betting site and select Interac as your chosen method of banking.
  2. Answer the security question asked.
  3. Upon receiving a notification regarding your chosen withdrawal amount, select your institution, login and chosen amount of cash via the link provided.
  4. Some punters will be able to register for “Autodeposit”, meaning that there is no need to go through the security part of the withdrawal process in order to receive your funds. This can be set up by confirming your decision via email and activating this feature.

Interac Online Betting Sites

As previously mentioned, the number of betting sites offering Interac as a form of banking is increasing for those in Canada, however the total amount is still relatively small in comparison to other options in this area. The fact that Interac can only be used by Canadians is part of the reason why some bookmakers do not offer it, however our experts have put together a list of some of the best betting sites currently offering the service.

Disadvantages of Using Interac

There are very few negative factors surrounding Interac e-Transfer, however the following points should be understood before taking advantage of their banking service.

• Expiry – The recipient must complete actions to affect every transaction. If the betting site somehow neglects to debit your Interac account, yet credits your gaming account, the transaction’s life-cycle will expire in 30 days. As well as this, if a player fails to notice that they played for free, it may take time to sort this out with the merchant.

• Phishing – Transaction notices are processed via email, meaning that 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 others access to their accounts.

Interac Customer Support

For when issues or problems arise using the Interac service, users can fill out the customer support form available on their website, or alternatively send an email or call the free telephone number provided. As well as this, a detailed FAQ page is on hand to answer the most commonly asked questions regarding their operation, perfect for those new to this form of online banking. The Interac website is currently available in both English and French.

[email protected]
1-888-238-6433.

Interac e-Transfer FAQ’s

How long does it take to receive money using Interac?
The average time taken to receive money with Interac is between 4-6 working days, however this can often be much quicker, with many transactions even being processed instantly.


Does it cost more money if I make a large deposit?
A small fee is charged no matter how much money is being transferred using Interac, meaning that there are no additional charges for making significant deposits.


Can I use Interac outside of Canada?
Unfortunately not. Only those in Canada are currently able to take advantage of Interac, unless you have a Canadian bank account.


Who benefits most from using Interac?
Those who are tired of having their credit or debit cards turned down online will enjoy the ease of use with Interac, while those who prefer not to purchase prepaid cards when depositing cash also benefiting.


Which banks is Interac available through?
A number of financial institutions support the Interac system, including National Bank, Desjardins, President’s Choice Financial and Tangerine, among others. In fact, there are over 250 Interac participants in total.


Do I need to open an account with Interac in order to use their services?
No, players can use their chosen financial institution when operating online or on mobile, before clicking on the Interac logo and following the instructions provided.


Are transactions via Interac protected?
Money is never exchanged via email or text message, with the only thing Interac send being notifications and instructions. Money is transferred between bank accounts via their banking system, which is hugely secure and reliable.


Can I reverse a transaction using Interac?
This is possible in some cases, however they cannot be reversed once the recipient has deposited funds. When cash has yet to be deposited, you can still log in to your account and choose to cancel a particular transaction via the relevant option.

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