Interac Casino Mobile Depositing Mechanism

Most Canadians will be familiar with the Interac online payment system. With it, users can pay for goods and services at land-based and online merchants with money from their personal Canadian bank account. The good news for online and mobile gaming enthusiasts is that this banking method can also be used as a casino mobile depositing mechanism for making fast, secure deposits at all top-rated sites.

What is Interac?

Established in 1984, Interac is considered to be one of the leading service providers in the debit card and e-service industry. They are directly responsible for the creation and operation of the Inter-Member Network which allows Canadian users to access their funds through Point of Sale terminals and ATM’s across the country. This homegrown e-transfer payment system supports legalised online gaming in Canada, and is available at just about every licenced Canadian internet-based casino.

One of the biggest benefits of this option is the convenience, speed and cost of the facility. Since the system works through your own bank, you can only pay with funds that are already in your account. The system is also incredibly easy to use and much faster than a direct transfer. Also, it has one of the lowest costs of any payment facility in the country. With Interac, there is a single flat rate for each e-transfer whether you are sending/depositing $10 or $800. This makes it the best mobile casino deposit mechanism for players on a tight budget.

How to get Started

In order to use the service, you need to have a registered bank account with one of the 200 participating financial institutions in Canada. This includes all the major banks such as the Royal Bank of Canada, TD Canada Trust, Scotiabank, Credit Union Central of Canada, Bank of Montreal and the Canadian Imperial Bank of Commerce. If you have a registered account with a Canadian bank and Internet banking facilities, you are good to go.

Making a Deposit

Before you can make a deposit using this option you should first check if the mobile casino deposit methods at the site include Inteac. While most Canadian sites do, it is a local payment option which means overseas sites will not have this listed in their payment menu. Once you have read the guidelines on the page for making a payment, you can head to the webpage of your private bank and choose the Interac payment option. Here, you can choose how much you want to deposit and then enter the name of the gambling venue. This information can be found on the banking or cashier page. You will also receive the answer to the secure question which will be emailed to you.

After a few minutes you will receive an email from your bank with the security question. After your bank receive the correct answer, the transaction will be complete and the funds will appear in your account within 10 minutes. 

Making a Withdrawal

While Interac is primarily used for making deposits, it can also be used for withdrawals at selected online establishments. It is important to check whether this is facilitated first, as many sites offer deposits only. In order to make a withdrawal, simply head over to the cashier section, select this option, the amount you want to withdraw and insert your email address or account name. Withdrawals can take up to 4 working days depending on the site.

Advantages and Disadvantages

So, what makes Interact, one of the best mobile casino deposit methods in Canada? Like most payment methods, paying this way has its advantages and disadvantages. The benefits of using the system including being able to deposit using Canadian Dollars, paying one flat rate for your deposits, being able to send cash to friends and family as well as being able to make instant secure deposits. The downside is that overseas sites do not accept the payment option, the banking fees can vary and not all casinos offer withdrawals on the system.