Interac

Interac is a fast, secure, and convenient payment method in Canada that allows users to send money and make transactions via online banking.

If you’re from Canada and are looking to buy Bitcoin or Ethereum using Interac, you’re in the right place! Below, we’ll guide you on which crypto sites support this payment method.

Both the casino and crypto industries are growing rapidly in Canada, and many people are increasingly turning to cryptocurrencies for transactions and betting. Interac is a popular Canadian deposit method that allows you to deposit funds into your casino wallet or directly purchase cryptocurrency from your bank account using your mobile device. Many crypto sites, including those offering cryptocurrency exchanges, accept Interac for deposits, making it a seamless payment option.

Currently, there are 3 crypto trading sites and 278 crypto casinos that support Interac as a deposit method, as shown in the toplists below.

Summary

Interac is well-known in Canada as one of the top payment methods. Several crypto exchanges accept Interac deposits, including platforms like Bit Buy, CoinSmart, and Local Bitcoins. This method allows users to deposit funds directly from their bank account without the need to answer security questions. Crypto sites that support the Interac deposit method ensure smooth and secure transactions, promoting activities such as gambling on crypto-friendly casino sites. Therefore, it’s essential to understand how to use these crypto sites that accept Interac as a deposit method.

What is Interac?

Interac is a Canadian online banking service that offers a quick, secure, and easy way to process internet payments. It allows users to send funds directly from their bank accounts to merchants, without needing to visit an ATM or write a cheque. Interac is commonly used for purchasing cryptocurrency, offering a safer alternative to credit card payments as it doesn’t share sensitive financial information with online merchants.

Interac Costs

There are no fees associated with making deposits through Interac. However, crypto exchanges or casino platforms may charge fees depending on the account type. Most casinos use cryptocurrencies for transactions, making Interac a suitable deposit method for crypto purchases. There are no withdrawal fees when using Interac. Crypto exchanges in Canada typically charge low fees (around 0.1%) for crypto purchases, and larger exchanges may incur lower fees for bulk cryptocurrency transactions.

Transaction Speed for Interac

Interac transactions are generally fast, with most transfers completing almost instantly. However, depending on the crypto exchange platform, it may take up to 30 minutes for the funds to appear in your account. This rapid transaction speed is particularly popular among gamblers who use crypto sites accepting Interac deposits for quicker winnings.

Interac Deposits

To fund your account using Interac, follow these simple steps:

1. Select Interac from the available deposit options. You can claim a casino bonus before making your deposit.
2. Enter the deposit amount, then you’ll be redirected to a separate payment window to verify your details and complete the transaction.
3. Finish the transaction with your chosen verification method, such as Face ID, Touch ID, or PIN code on your mobile device.

Which are the Leading Countries Where Interac is Used?

Interac is primarily used in Canada, and deposits can only be made within the country. There are no options for using Interac as a deposit method outside of Canada, including the United States, making it unavailable to those in other regions.

Can You Withdraw with Interac?

Interac e-transfer is also available as a withdrawal option. To withdraw funds, select the “Withdraw” option and specify the amount. Once your withdrawal is approved, you will receive an email and text message with instructions on how to accept the transfer. The funds will be credited to your bank account within one to three business days, and there are no fees for withdrawals.

Reputation of Interac

Interac has a long-standing reputation as a reliable and secure transaction method. It is widely used in Canada and supports cryptocurrency purchases, allowing users to transact on sites such as casinos and crypto exchanges. Interac is recognized as one of Canada’s most trusted financial brands and has maintained its reputation over the last seven years. The platform is lauded for its focus on consumer privacy and security, with many praising its efforts to improve services.

Interac FAQ

Below are some frequently asked questions about Interac as a deposit method for crypto exchanges and online casinos:

• Is it safe to use Interac for cryptocurrencies? Yes, Interac provides multiple layers of security, such as encryption and confidential user IDs, ensuring a secure transaction process.
• How do I set up Interac? Follow these 4 simple steps:
  1. Log into your banking or mobile app.
  2. Find the Auto-deposit section in the e-transfer menu.
  3. Register your email address and link your preferred bank account.
  4. Complete registration via the confirmation email.
• Is Interac instant? The process is nearly instant, though payments may occasionally be delayed for up to 30 minutes.
• When was Interac founded? Interac was founded in 1984 through a cooperative venture among five financial institutions: CIBC, RBC, Scotiabank, Desjardins, and TD.
• Where is the parent company based? The parent company is based in Royal Bank Plaza in Toronto, Canada.
• Does Interac only work on Apple devices? No, Interac works on both smartphones and laptops, not limited to Apple devices.