Want to learn more about the best Interac e-Transfer betting sites in Canada, and how Interac e-Transfer works when you’re making deposits, placing bets, and withdrawing your winnings?
Sports Interaction is the best gambling site with Interac e-Transfer
If you’re interested in using Interac e-Transfer when gambling in Canada, Sports Interaction is the best sportsbook to choose. This sportsbook is one of the oldest in Canada, and was established in 1997. It’s fully licensed and registered with the Kahnawake Gaming Commission for operations in Canada.
It offers a tremendous variety of sports leagues and betting markets for the NHL, MLB, MLS, English Premier League, eSports, and even lesser-watched sports like lacrosse, so you’ll have plenty of options when it comes to placing your bets. You can even qualify for deposit matching of up to 110% if you’re a new user.
Sports Interaction fully supports deposits and withdrawals using Interac e-Transfer. You can quickly and easily deposit funds when you place bets, and withdraw your winnings quickly and without high fees, making it a great choice if you prefer to use gambling websites that support Interac e-Transfer. It also has 24/7 customer service and support – so if you ever run into a problem while managing your funds with Interac e-Transfer, you can get the help you need right away.
Overall, Sports Interaction has a great interface on mobile and on desktop, some of the best live wagering features in Canada, excellent service, and complete support for Interac e-Transfer, making it one of our top choices for Canadians who want to bet with Interac e-Transfer.
- Offers a wide range of markets
- Friendly, accessible customer service
- Complies with robust security
Interac e-Transfer in betting
Since Interac e-Transfer is supported by just about every major bank in Canada, it’s one of the best ways for Canadians to deposit money and withdraw their winnings from sportsbooks that operate in Canada.
Using Interac e-Transfers, you can simply log into your online or mobile banking account to quickly and easily send money directly to the online sportsbook you’re using. It only takes a few minutes to do so.
It’s a reliable payment and deposit method, and usually does not have fees for deposits, though fees may be charged for withdrawals from some sportsbooks. Let’s take a deeper look at the benefits of Interac e-Transfer and the process for using it now.
Advantages of using Interac e-Transfer in betting
Wondering why you should use Interac e-Transfer to place bets in Canada? Here are a few benefits of using this payment method to gamble on your favourite sports and events.
- Nearly instant – Interac e-Transfers usually take a maximum of 30 minutes for both deposits and withdrawals.
- Extremely safe and secure – Interac is a highly-reputable payments company and works with some of the largest banks in Canada, so you can rest assured that your data is safe.
- Never expose your personal information – With Interac, there’s never any need to expose your bank account number, routing number, or any other personal details when placing bets online – in contrast to traditional bank ACH/wire transfers.
- Supported by most Canadian banks – Almost every major Canadian bank supports Interac e-Transfer, which means you won’t need to make a new account with a payment provider – you can start using Interac e-Transfer to place bets right away.
How to deposit and withdraw with Interac e-Transfer in betting
Wondering how you will deposit your funds and withdraw winnings when using Interac e-Transfer in Canada? Let’s discuss the basic process now. Note that this may vary slightly depending on the sportsbook you use – if you have questions or issues using Interac e-Transfer, we recommend contacting the customer service team at your preferred sportsbook.
How to deposit with Interac e-Transfer when betting in Canada
To make a deposit, you’ll usually just need to head to your online sportsbook, log into your account, and then head to their payments section. Then, you’ll choose your bank in Canada, and use a secure login portal to enter your online banking information. Next, you’ll choose the bank account from which you’d like to take the funds, and confirm the amount you’re depositing. Finally, your cash will be deposited almost instantly, and you can start placing bets right away at your preferred sportsbook.
How to withdraw with Interac e-Transfer when betting in Canada
To withdraw money using Interac e-Transfer, you’ll head to your sportsbook’s online payments portal. Then, you’ll choose the Interac e-Transfer withdrawal method, and choose how much you’d like to withdraw. Fees, if applicable, will be deducted from your total withdrawal.
Then, you’ll be sent a notification via email or SMS to accept the Interac e-Transfer payment.
You’ll simply follow the instructions to accept your payment. Once you complete the process, the full deposit amount will be sent directly to your bank account.
How secure is it to use Interac e-Transfer in betting?
Interac E-transfer is one of the safest and most secure payment methods when it comes to online sports betting in Canada.
Interac is a very well-known payments provider in Canada, and has great security, which ensures that your personal data is safe. In addition, using Interac e-Transfer means your bank account number is never exposed to a sportsbook, which helps keep you more secure.
What is Interac e-Transfer?
Here are a few fast facts about Interact and its e-Transfer payment method.
- Interac Corporation, a Canadian interbank network, was founded in 1984 in Canada
- A sub-company of Interac called “Acxys” launched in 1996 to begin offering e-transfers under the Interac brand
- By 2015, more than 105 million money transfers were made each year using Interac eTransfer
- The total money sent on Interac exceeds $44 billion CAD per year
- Interac works with all major reputable banks in Canada including CBC, RBIC, BMO, and Scotiabank, to name just a few.
How does Interac e-Transfer work?
An Interac e-Transfer is similar in some ways to an eCheque, but it has a few major differences. Here’s an overview of the basics.
- The sender signs into their online banking portal, and chooses the recipient for the funds they’re sending. They also set up a security answer, which must be answered correctly for the recipient to receive the funds
- The recipient is sent an SMS or email message with instructions on how to receive the funds via a secure website
- Then recipient enters the answer to the security question to receive the deposit, which can be sent immediately via Interac or with a traditional bank deposit
- If the funds are not accepted by the recipient within a certain time period (between 24 to 30 days depending on the bank) the transaction will be cancelled
Setting up Interac “Auto Deposit” with a bank lets you send money without setting up a security question and answer. Note that the specifics of the process may vary slightly based on your bank and your sportsbook, but most deposits and withdrawals will follow this same basic process.
Interac e-Transfer in Canada
Interac has been operating in Canada for decades, and the Interac e-Transfer method is, by far, the most popular method of transferring money between individuals in the country.
How to open an account with Interac
There’s no need to open an account with Interac, because if you have a Canadian bank account that supports Interac, you’re already completely set up and ready to use it.
Fees with Interac e-Transfer
In most cases, you’ll only pay fees with Interac e-Transfer when you withdraw funds. Deposit fees are very rare at sportsbooks. Withdrawal fees depend on the sportsbook you’re using. Sports Interaction, for example, lets you withdraw using Interac e-Transfer for free once per month – but every withdrawal thereafter costs $6.
Alternatives to Interac e-Transfer
Wondering if there are any other options you can use in Canada instead of Interac? Here are a few other popular payment options with Canadian gamblers.
PayPal – PayPal is one of the oldest and most reputable ePayment services in the world, and it supports users from almost every country worldwide. While it’s not as commonly-supported as Interac, many sportsbooks and casinos accept Paypal.
Skrill – Skrill is owned by Paysafe Group, which acquired it in 2015. It supports 40 currencies, and has very good security features with reasonable fees, making it a good option for Canadians who can’t use Interac e-Transfer.
InstaDebit – Instadebit can be used with any Canadian bank account, and allows you to make deposits on most major sports betting websites without exposing your bank account information. However, it’s not always supported as a withdrawal method.
FAQs about Interac e-Transfer & betting
Got questions about using Interac e-Transfer for betting? Get answers to top FAQs below.
Is it safe to use the payment provider for sports betting? Interac has a long history in Canada, and is one of the safest, most legitimate payment providers available today.
Which deposit/withdrawal methods can I use when using Interac? The e-Transfer method is usually the only Interact deposit and withdrawal method supported by sports betting websites.
Do I have to verify anything with Interac e-Transfer? As long as you already have a Canadian bank account, there’s no need for additional verifications.
Will there be any fees added when I use Interac e-Transfer? Yes, but these depend on the sportsbook you choose to use.
What do I do if my payment is declined? You can contact your bank and the sportsbook’s customer service to learn more about why your payment was declined.
Deposits can be processed immediately, but may take up to 30 minutes.
How long will it take before my withdrawal is received from the betting site? Withdrawals are usually processed within 30 minutes, but this can vary depending on the sportsbook.
Tips for using Interac e-Transfer when betting
Want some tips for using Interac e-Transfer while placing bets online? Here are a few of our tips for new users.
- Take your time when selecting the best payment provider for you – Always be aware of fees and other costs when choosing a payment provider, and ensure you choose the best option.
- Be aware of any fees which may occur – Fees are common for withdrawals, so know how much you’ll pay before you take out any money.
- Make sure that your favorite betting site accepts Interac e-Transfer – We recommend contacting customer service if you can’t find information about a sports book’s payment methods on its website.
- Know the transaction limits of Interac e-Transfer – Each bank or credit union has different transaction limits, so consult with them to ensure you know these limitations before making deposits and withdrawals.
Interac e-Transfer Is One Of The Best Ways To Deposit Cash When Betting In Canada
If you’re looking for a great sports betting site or casino in Canada, you should definitely pick a website like Sports Interaction that supports Interac e-Transfers. If you use Interac to deposit and withdraw funds, you’ll pay very low fees – and you can rest easy, knowing that your personal data is safe and protected from potential data breaches.
Thanks to its low fees, fast transfers, and widespread support, Interac e-Transfer is definitely one of the best options for Canadian sports gamblers. We hope this guide has helped you learn more about this payment method. Thanks for reading, and good luck on your next bet!