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Interac is a Canadian interbank network, used by millions of Canadians. Established in 1984, it is the most used Canadian cashless payment option, aiding both businesses and consumers in managing electronic payments quickly and securely.
 | |
| Payment Method | Bank Transfer |
|---|---|
| Founded | 1984 |
| Headquarters | Toronto, Ontario, Canada |
| Available In | Canada |
| Number of Employees | 700+ |
| Number of Annual Transactions | 1.06 billion+ (2022) |
With a substantial daily transaction volume averaging 18 million CAD, Interac has woven itself into the daily financial dealings of Canadians, providing a platform that merges ease with reliability. It is Canada’s first electronic payment network and is tethered to almost 300 financial institutions.
While Interac e-Transfer doesn’t typically tag fees for sending and receiving money, banks might introduce their own charges per transaction.
If you’re using Apple Pay or Google Pay with your Interac transaction, you have to pay 0.60% as a service fee for transactions up to $300 and a flat fee of $1.80 for transactions above the $300 mark.
Both Interac e-Transfer and Interac Online can be used to play online casino games with seamless connectivity and quick transfer times. Although the e-Transfer service is more commonly found as the preferred payment method in casinos, the Interac Online service feels just a little quicker and easier to use.
Deposits and withdrawals using Interac e-Transfer are nearly instantaneous from my experience but as of their website, it can take up to 30 minutes in some cases.
With a nod towards security, Interac ensures personal and financial information remains enveloped in privacy. The use of biometrics and passcode verifications, especially with mobile payments and Interac Debit using Apple Pay or Google Pay, provides an additional shield of safety.
You can reach out to the payment provider via:
Finally, on the customer support side, the payment processor is a bit lacking from my experience. On the Interac customer support page, all you can find are ways to contact your bank or browse their selection of FAQs in most cases.
My time using Interac as my payment method for casinos went smoothly. The quick transactions with no added costs gave me a lot of flexibility.
Interac has many services on offer and their connectivity inside Canada is unparalleled.
For readers who have come this far, I would wholeheartedly recommend the payment platform so feel free to take a look at a few Interac online casinos!
