Interac Casinos - Are they a Good Option For You?

As a Canadian, there is a good chance that you've heard of Interac. Interac is the Canadian interbank system network. As such, it processes transactions that are made mostly between different financial institutions within Canada. For example, if you are using an ATM that is not hosted by your bank, the transaction has to be made through Interac to get you the cash that you need.

How Is Interac Related to Casinos?

What is known as an Interac casino is usually an online betting platform that runs payments through the Interac network. The online service offered by this payment processor is what's going to come in handy for people who are looking to bet online. The Interac casino services include being able to make a deposit to your online casino account as well as a withdrawal of your winnings back to your bank account. Without directly having to insert your personal card information on the casino platform.

Benefits of Using the Interac Network to Play Online

interac-casino-pros-and-cons

If you're Canadian looking for Interac casinos should be almost a must. Interac is one of the safest payment methods out there, thanks to the fact that it won't require you to input your account or card data directly into the online platform to fund your online account or withdraw funds. Essentially it offers an extra layer of protection when making online payments. People from other countries mostly have to look to services like PayPal for that added layer of protection.

Another one of the main benefits that you're going to be able to obtain is that you don't necessarily have to go out of your way to activate an Interac account. You get access to the system through your regular bank account. The banks that founded Interac are RBC, CIBC, Scotiabank, TD, and Desjardins Group. These days most Canada based banks use the system. Plus, in an Interac casino, you'll be able to make payments directly in Canadian dollars without having to convert your money to Euros or American dollars.

Are There Setbacks to Playing in Interac Casinos?

interac-casino-pros-and-cons-2

Most payment methods that can be used to pay or receive funds from online casinos charge some fees for the service. The Interac system is not the exception to that rule, but that doesn't necessarily make it a bad option. To make deposits from your bank account into a virtual account to pay online, you'll pay a fee of usually under 1 CAD$. Once you make the deposit, it can take a couple of minutes to show up on your virtual account and be ready for use. When it comes to withdrawing funds, the fees can be a bit steeper. Withdraws can go for up to 4 dollars. The money may take 3 to 5 days to show up on your account. While this is not precisely great news, this is pretty much right around the same cost you'd have to pay if you used other payment methods. The wait time on the withdrawal is also right around the same that you see in other payment options.

Is Interact a Good Payment Service?

Do you want to explore the world of online gambling? Using this payment system is certainly a decent option to do just that. As mentioned before, all of the added costs involved in using this system compare relatively favorably with other payment methods. In contrast, most other payment methods don't offer the security level or the ease in usage that you get with Interac!