Interac is one of the most secure ways to transfer money from your bank account to casinos without exposing personal and sensitive information. With an average number of active Interac Debit users per month being over 25 million in 2019, you might know this popular payment service already, but you might not know that there is a large number of casinos accepting Interac, and that number increases all the time. So, let’s have a look at what this secure and popular payment service entails.
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What is Interac?
Interac is simply a payment service that allows you to tether your bank account directly to the online store or casino you wish to use, quickly and in a secure fashion. For a long time there has been two providers that offer different Interac-branded products and services. The one that was established first was the Interac Association in 1984.
In 1996 the eight financial institutions joined together to build the Interac network, this became the Acxsys Corporation. They did this to develop new business partnerships and services. These were Interac e-Transfer, Interac Online, as well as mobile payment solutions and international services. The two companies were merged in the end, a process that took some time and was finalized in 2018. The new company name after the merger, Interac Corp.
Advantages and disadvantages using Interac
There are many benefits to using the payment method at Interac casinos, first and foremost this is a well-established and trusted payment service provider. Many players already use Interac when paying for goods and services online, so why not use it when playing at online casinos that accept Interac?
Another advantage of using Interac is that it is directly tied to your bank. This makes it fast and easy to withdraw money you won at online casinos directly back into your bank account, without paying bank wiring fees. Interac has many layers of security, ensuring no one can snap up your card or bank details during transfer of data.
The only disadvantages to using Interac might be that if the casino manages to neglect to debit your account, but still credit balance, this might cause some problems once the transactions life cycle expires. You might think the money has been deducted already and get a surprise when it finally is taken from your account. The solution here is only to use the best Interac casinos, you will find them on our list over the best online casinos.
Other than this, all notifications regarding transactions are done via email. This can result in scammers trying to send fake Interac emails trying to get information from you. Interac will never ask you to devolve your passwords by email, so as long as you don’t give out any information or reply when getting suspicious emails you should be good.
How to use Interac
Interac e-Transfer: This is normally used to transfer founds to family or friends. When you use this service to deposit money to an online casino, the Interac casino will give you a specified email address, this comes with security questions which you then answer and submit from your bank account.
Interac Online: This saves you the hassle of logging into your bank account when transferring money to casinos accepting Interac, this service is not as widespread as e-Transfer but can save you time if available.
Is it safe to use Interac?
Casinos accepting Interac are safe to use for players. Interac has high level encryption with several layers of added security to protect your data during transfer. Online casinos that accept Interac have been vetted by the payment supplier, they would not allow an online casino to offer their services if it did not pass their security checks.