As a bettor in Canada, you’re probably looking for a secure and user-friendly payment method for your sports betting needs. Interac sportsbooks offer an e-payment system to meet that need, and surely you’ve heard of it once or twice already.
Here, we show you how Interac works for bettors in Canada. Our review highlights three Interac betting operators, key Interac features, how to create an Interac account, alternative payment services, and even how to add Interac funds to your betting account. Have a look below to find out more to see if Interac serves your betting needs.
Interac is an e-transfer payment method, and one of the first electronic payment methods to be developed in Canada. For that matter, it’s important to note that Interac only works with Canadian dollars.
This payment system works by simply connecting your Interac account to your bank account. In relation to Interac betting sites, this enables you to add or withdraw funds from your bookmaker account by using your email address.
We checked out how Interac works with some of the best betting sites online. Three major sports betting companies – ComeOn, Betvictor, and Leovegas – caught our attention. Let’s take a look at the results, including the pros and cons of using Interac payments with these operators.
ComeOn Sportsbook is available for bettors in Canada, where they integrate well with bettors using the Interac payment system. Interac deposits and withdrawals are both instant, with zero fees attached. At this bookie, you can deposit from a minimum of $10, and there is no maximum deposit amount, but they do raise the minimum withdrawal amount to $20.
Interac works with the ComeOn Android mobile betting app, where you can take advantage of the ComeOn 500% welcome bonus, just as you would on the main site. If you deposit $10, ComeOn credits a $50 sports bonus. We think this generous bonus marks ComeOn as one of the top Interac bookmakers.
We found the Comeon Interac deposit process easy to figure out. A clear set of menu screens made it simple to decipher where to click next. We simply had to go to our account, click on “Deposit” and then choose from the payment options available. The deposit process was not as quick as we’d expect from a top tier sportsbook, but this is a minor issue. One thing we appreciated was the need for users to create a security question and answer for deposits, which gave more peace of mind that our transaction was secure.
Betvictor is a top Interac sportsbook with a full range of sports and associated betting options. Their Interac transaction processing was on point: deposits are smooth and hassle-free. You can make an Interac deposit from $10 up to a $50,000 limit, which is immediately added to your account. That upper limit is quite high, which caters nicely to bigger bettors. Along those same lines, if a sports welcome bonus is of interest, the Betvictor 100% up to $400 deposit match bonus is compatible with Interac deposits.
The overly complicated Betvictor menu system can make it fiddly to get started with Interac deposits. However, once you get to your deposits, with a few simple clicks you will be able to access Interac buttons, start depositing, and begin betting with Betvictor.
Overall, we rate Betvictor among the best Interac sports book makers due to a low minimum deposit amount, speedy transactions, and the fact that you can use Interac to take advantage of a 100% sign-up bonus.
With its distinctive orange branding, Leovegas stands out among Interac betting operators. Their site has a smooth navigation and layout, with instant and easy to use Interac payments in just a couple of clicks. We found it easy to click between the options during an Interac deposit. The transaction process felt intuitive, with a series of simple logical steps to add funds.
At LeoVegas, you’ll find two payment options available for Interac: Interac and Interac e-transfer. The minimum and maximum deposits here are the same for both: $10/$3,000 respectively. The main differences are that your e-transfers are fee free, while the other main option could charge you up to $1, and you can’t make e-transfer withdrawals.
To sign up as a new Interac user takes a few easy steps, and involves having a personal Canadian bank account that supports Interac payments.
Now your account is set up and ready to use with your preferred Interac bookmakers.
Interac is a popular payment method in Canada, and it presents itself in various useful forms to provide for several types of transactions. Interac users have various services at their fingertips.
Now that you have a list of potential payment services, let’s find out how to deposit with Interac.
Login to your preferred Bookmaker account and go to your account admin section.
The best Interac betting sites not only offer this convenient payment system, but seamlessly integrate features you would expect. What are the key features of Interac as a sports betting payment method?
The majority of top betting apps in Canada allow Interac deposits. Interac works on mobile devices, allowing easy deposits and withdrawals when you’re away from home.
When you visit a betting site, you’re presented with numerous Interac deposit and withdrawal options, like Interac Debit, Interac e-Transfer, and Interact Online. Deposits with Interac are usually instant, although Interac currently supports one currency, the Canadian Dollar (CAD). It’s important to check which ones are available, as not all naturally support withdrawals along with your deposits.
Interac usually works with online betting bonuses. Major bookmakers have incorporated Interac into their bonus terms, so you will not face any issues when claiming a bonus or promotion. Depending on the site, you can discover promotions ranging from an initial new customer welcome bonus to ongoing offers such as free bets or deposit match bonuses.
Secure transactions are important in online betting. You can expect detailed verification, such as 2FA and user verification checks, to ensure the security of your personal information. To maintain your Interac and betting account security, update passwords at regular intervals, enable 2FA, and check your account history for any suspicious transactions.
When you start betting with Interac, these factors are key to your choice of the best Interac betting site.
Even with the ability to deposit and withdraw with Interac services, you should still shop around between sportsbooks for the most competitive odds on each selection to make sure you are stretching the potential value of your payments and bets as much as possible.
Deposit limits usually range from $10 to $20 for each transaction. With regards to withdrawal limits, these also vary between operators. Consider that some operators require you to deposit with Interac in order to then withdraw with Interac.
Interac is well known as a quick way to transact on a betting account. It’s worth checking for bookies that offer the quickest withdrawal processing times. A typical timeframe is within 1 to 2 days for the funds to reach your bank account.
A wide array of bet types, like in-play, accumulators/parlays, and ante-post bets, are useful to have available with any Interac bookie. On top of this, the inclusion of niche sports and events signifies a well-rounded Interac betting site.
A betting company should have readily available customer support. Time is of the essence when it comes to sports betting, so look for easily accessible support via live chat, phone, email, and social media.
We looked at how other online betting payment methods compare to Interac in terms of transaction fees and their advantages and disadvantages.
Interac fees vary depending on the method you choose. As an example, an Interac Cash withdrawal from an ABM is $0.006243. Some ABM machines may charge an additional $2.00. Interac Debit on the other hand charges a $0.005759 fee per transaction using your card.
Interac has a $1000 daily deposit limit and a $5000 monthly limit. When you withdraw from Interac bookmakers, the minimum limit is $10 to $15 and the maximum is $7.000 to $9.999, depending on the specific Interac betting site.
In the table below, we compare Interac with three common online betting payment methods.
Payment Method | Transaction Fees | Advantages | Disadvantages |
---|---|---|---|
Interac | From zero fees up to 2-3% (varies between operators) | Compatible with most sports welcome offers | Cannot use cryptocurrency
Only used in Canada |
WebMoney | 0.8% per deposit/withdrawal transaction, capped at $55 | Cryptocurrency deposits are accepted Qualifies for welcome bonuses and other offers | Even the $55 fee cap could be prohibitive on large deposits |
Skrill | Deposits have zero fees Withdrawals to bank account: up to 7.5% fees per transaction | Widely accepted by bookmakers Can use cryptocurrency | Typically not eligible for welcome bonus offers |
Neteller | Deposit fees from 1.90% to 4.95%: via Visa/ Mastercard, or 1% through Bitcoin 2.5% fee to withdraw to a bank account | Available at most operators Cryptocurrency payments are allowed | Usually excluded from sports bonus eligibility |
Akin to other payment methods, Interac has its good and bad points. These are:
Interac offers quick and secure payments for when you want to start betting now. Its pros clearly outweigh minor quibbles, such as the lack of support for cryptocurrency deposits and withdrawals. Now let’s finish with our closing thoughts.
We discussed how to set up and use Interac with sports betting accounts in Canada.
Our testing of three sites found that ComeOn, Betvictor, and Leovegas offer convenient and beginner-friendly Interac payments.
Interac offers safe and rapid payments, with typically instant deposits and quick withdrawals of up to 24 hours. Interac sites use SSL technology to secure your details, while Interac’s single currency use of the Canadian Dollar means you avoid currency conversion charges. However, a lack of support for cryptocurrency transactions is noted. Even so, we highly recommend Interac as a speedy and trusted payment method for betting in Canada. So go and try Interac sportsbooks to enhance your betting experience.
Yes, since Interact is an interbank network linking the majority of Canadian banks. This and encryption technology keeps player data secure.
Yes absolutely, since the payment interacts with reputable banking operators, so security is top notch.
Interac is a payment method for bettors in Canada only. Thus, a Canadian bank account is needed to use the service on supported Interact betting sites.
Sending money by Interac e-Transfer attracts fees of $0.50 for amounts up to $100 and $1 for amounts over $100. A business account comes with $1.50 fees for each transaction.
The majority of bookmakers in Canada allow Interac deposits, as the payment method is unique to sports betting in the region. Therefore you shouldn’t have many issues in finding Interac betting sites.