Interac e-Transfer is a fast, safe and convenient way to send money to anyone in Canada via online or mobile banking. Funds are transferred via one of 250+ participating financial institutions and related notifications sent by emails or text messages. All one needs is an email address and the email or mobile number of the recipient. Having received the notification, the recipient is prompted to answer a pre-defined security question to have the cash appear in their account.
Casino Bloke has provided a list of reputable online casinos featuring this banking option. Read on to learn how to make Interac deposits and withdrawals and find out what is that makes this payment method the best one available to Canadian players.
Interac Corp. is one of Canada’s leading payment brands. The organization has been enabling secure financial transactions for more than 30 years and boasts one of the lowest fraud rates globally. Along with Interact e-Transfer, services include Interac Cash, Interac Debit, Interac Flash, Interac Online, mobile payment solutions, and international services which allow Canadian cardholders to pay at about 2 million US retailers and offer foreign cardholders ABM access for cash withdrawals in Canada. The first three services were originally offered by Interac Association as of 1984, with the additional ones included into the assortment viaAcxsys Corporation established in 1996. The two organizations merged into Interac Corp. in 2018 and now offer all Interac-branded products under one roof.
Close to 160 million Interac e-Transfer transactions valued at over $60 billion were conducted in 2016. The service enables users to send and receive money using online or mobile banking while established banking procedures safeguard their cash. Implemented security measures include authentication and transaction encryption, ID and password issued by the financial institution, and a secure login process. Request Money feature allows customers to easily request payments, while the Autodeposit feature makes it possible to have funds automatically deposited into their bank account.
How to Make Deposits and Withdrawals with Interac e-Transfer
Having ascertained your chosen casino accepts Interac payments, all you need to do is log into your online or mobile banking system and click on the Interac e-Transfer logo. You’ll then be asked to enter the recipient’s name (found in the casino’s instructions), the amount you wish to deposit, and the security question and answer. Clicking “Send” will deliver a notification email to the gaming site. They’ll need to know your security answer in order to process the payment, and various operators handle this in a different manner. While some will ask you to provide the answer in advance, others will prompt you to use the one they’ve chosen. Either way, rest assured the casino’s website will provide all necessary explanations.
Withdrawals are done in a similar manner, only this time you’ll be the one receiving the notification. As soon as you provide security answer supplied by the casino, the payment will be processed. Interac e-Transfer notifications normally include sender’s name, the amount, and a link which you can click on to select your bank, log into your mobile or online banking, and deposit cash into the chosen account.
Fees & Timeframes
Interac e-Transfer transactions are performed within 30 minutes. Once you receive the notification, money becomes almost instantly accessible. Financial institutions may charge you a fee for sending funds, and possibly also for receiving them. You’ll usually find the fee to be $1 to $1.5 per transfer, but since amounts vary depending on individual institution’s business decision, you’re advised to check with your chosen bank.
Why Use Interac
Interac e-Transfer enables fast deposits and withdrawals without the need to perform additional registrations. You’ll be able to use Canadian dollars and enjoy an almost instant transfer to the online casino you’ve chosen to play at.
Advanced security measures implemented by financial institutions pretty much guarantee no third party can access your bank account information and clean you dry. Since transfers can only be completed when you’ve got cash in your account, there’s no risk of spending more than you can afford.
Frequently Asked Questions
Q: Can an Interac e-Transfer be deposited into a bank account in another country?
A: No, the service is currently only available to customers with a Canadian bank account.
Q: Can I use Interac e-Transfer service if I don’t bank online?
A: Yes, you can still accept transfers to your Canadian bank account by registering and providing your banking information. Deposits normally take 4 to 6 business day and are subject to a fee of $4.
Q: What are the limits for the amount I can send?
A: Limits are set by individual financial institutions so you’ll need to check with your chosen bank.
Q: What if I forget the answer to the Security question?
A: If you don’t know the answer, the best is to contact the sender, because providing an incorrect security answer three times automatically cancels the transaction.
Q: Can I cancel an Interac e-Transfer?
A: You can cancel a transfer providing the funds have not yet been deposited into the recipient’s bank account. Simply log into your online banking page, select the transfer you wish to cancel, and use the provided option.
In case of questions or issues, one can fill out Customer Support Form available at the service provider’s website, send an email to [email protected], or call a toll-free number 1-888-238-6433. Users can additionally review theFAQ list which, among other things, offers answers to the general question and detailed information related to sending and receiving funds via Interac e-Transfer. The website is currently available in English and French.
The Best iGaming Payment Tool for Canadian Players
Interac e-Transfer is the fastest way for Canadian gamblers to make safe cash transaction via the internet. It’s supported by most Canadian banks, including Scotiabank, Bank of Montreal, RBC Royal Bank, TD Canada Trust, and Canadian Imperial Bank of Commerce. The service itself is highly secure, and the fact an online casino has been allowed to use it additionally vouches for the safety of your gaming environment. That’s why you’ll see this payment method available at reputable sites such as LeoVegas, SpinIt, Sloty and Casino Room.