Long gone are the days when bank transfers in online betting were synonyms for long waiting times, high fees and a very complicated process to go through to top up your account. Meet Interac Canada, an e-transfer payment method that is extremely popular among punters for its lightning-fast processing times, increased security and low fees. With Interac, you only need access to the online or mobile banking platform of your financial institution and you can transfer funds anywhere around the country. And when the online betting sites started to grow in popularity, the Interac betting applications couldn’t be ignored. Thus, the vast majority of Canadian punters used it to instantly top-up their account and request withdrawals in a safe and reliable environment.
Best Interac Bookmakers
Finding a reliable bookmaker that accepts Interac payments makes your entire betting experience a lot more enjoyable. No matter if you choose pay with Interac Online or Email Money Transfers, you can count on this payment method to deliver fast payments, with high transaction limits and low fees at the best bookmakers in Canada.
How Does It Work – Interac Online vs Interac E-Transfer
After browsing through Interac bookmakers and deciding on the one you want to play at, it’s time to determine which option is better suited for your needs. From all the products offered by this payment method, the Online and E-transfer modules can be easily incorporated by betting sites.
Interac online works just like any other bank transfer tool out there, you just have to input the amount you like to deposit then you will have to login to online banking, choose the account for the payment, confirm the amount and you’re good to go. As you know, for most online bookmakers Canada, Interac is the best payment option to offer for its widespread among punters.
The steps for using the E-transfer Interac option are a bit different, however, the process still remains simple and easy to use. You will first have to log into your betting site account and choose Interac E-Transfer to get a Generated Payment Details. Then, you log into your online banking app, locate the E-Transfer section and input the information given by the bookie ( recipient name, recipient email and message or confirmation code). After you insert all these details, the bookmaker receives your payment and the account is usually funded within 10 minutes.
Why Bet Using Interac Online Canada
First of all, you have the widespread network of Interac partners so no matter the bank you’re using, access to top Interac bookmakers is guaranteed. You also get a perfect mobile compatibility so betting on the go is covered. Another important aspect that makes Interac the go-to payment option for Canadian punters is the ability to also request withdrawals via the same method.
In terms of limits, Interac stands out with pretty high deposit limits standing at CAD 1,000 per day and $5,000 per month. The maximum on each individual transaction also sits at CAD 1,000. You won’t have to worry about any added fees on your transfers and processing times vary from instant to a maximum of 10 minutes for Interac e-transfer. Most betting sites will process the withdrawals instantly after approval while in some cases you might get the payment the next day which is still fast compared to other methods.
If you want to fund other payment options with Interac, there aren’t many options at your disposal since everything is linked with your bank account. So, if for example, you wish to deposit at other bookies that don’t offer Interac, you can simply use the debit card attached to the same bank account or use Interac to transfer funds to that account and then use the card at a bookmaker.
The same goes for the reversed process. If you want to transfer money from say, Instadebit, Skrill or Neteller to Interac, you just have to direct the money to any of the bank accounts linked with Interac through home banking. This can be extremely helpful when it comes to withdrawing cash at the ATM. For example, using Interac Debit will only cost you a flat fee $0.005759 to cash out while InstaDebit takes a $2 fee.
When you have so many Canadian-orientated bookmakers and a payment option that was especially created to facilitate payments within Canada, it would be a pity not to combine them and get the best possible betting experience. Here are some of the best international bookies you can join for excellent odds, diverse betting markets and thoroughly enjoyable experience.
Unleash the Full E-Transfer Power at 888Sport
A special focus at 888sport goes to the Canadian market where you get hundreds of bets on popular sports like hockey, basketball, rugby or soccer. You can choose from several betting markets on NHL, NLC, the Premier League or La Liga. If you deposit through e-transfer, you can expect a minimum transaction amount of CAD 20 while the maximum stands at CAD 1,000 as set by the payment option. Payments are instantly processed to your account while getting your funds back can take up to 3 business days.
Bet365 – the Widest Sports Betting Offer
Top up your account via Instant Bank Transfer and start betting on dozens of basketball leagues, rugby league, rugby union, hockey and many more. When talking about deposit limits, the minimum sits at CAD 20 while the maximum amount you can deposit in one go is CAD 5,000 if you’re a high roller. The deposit instantly reaches your account and when it comes to withdrawals, the same minimum of CAD 20 stays in place with a maximum of CAD 10,000 per week. Processing time for withdrawals is within 24 hours with no added fees.
Spin Sports – Kahnawake Licensed Bookie
You can bet on over 60 sports at Spinsports and when it comes to payment limits for Interac you are looking at a CAD 20 minimum deposit for Interac with a CAD 1,000 maximum per transaction. There are no added fees on both depositing or withdrawing and the processing time for a withdrawal stands between 1 and 3 business days.
Bwin – Internationally Acclaimed Bookmaker
Ending our list of bookmakers with Interac, we have Bwin. In terms of depositing with Interac, the limits stand between CAD 20 and CAD 1,000 while withdrawals start at CAD 20 and there’s a maximum monthly withdrawal amount of CAD 10,000. Feel free to choose any sport you like, there are going to be hundreds of betting markets available and when it comes to getting your money back, you can count on Bwin to process withdrawals within 24 hours from approval.
Just like iDeal in the Netherlands, Trustly in Scandinavia, or Sofort in Germany, Interac enjoys more and more popularity in its home country thanks feeling of trust and safety it generates towards users. It’s true that even in Canada you won’t find that many bookies to offer Interac payments, however, just like the other options mentioned above, they are already exploring expansion possibilities. Teaming up with companies like Nanopay or Mint are great examples in that direction.
Full list of Interac Betting Sites
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