What is Interac?
Interac is a company that was founded back in 1984 with the mission to give Canadians easy access to their money through one single network. Today Interac is one of the most trusted financial brands in Canada. Interac is offering different ways for Canadians to move money between bank accounts and merchants. There are two ways of moving money with Interac services. Either via E-transfer or via Interac Online, two services that most of the people in Canada are aware of. With the huge amount of Canadians that are using Interac for daily transferring of funds it’s a must for online casinos to offer this payment method. That’s why it’s more common with Interac Casinos than for example iDebit Casinos and InstaDebit Casinos.
When it comes to Interac E-transfer it’s an electronic funds transfer service. With Interac E-transfer you can send money to family and friends by just entering an email and a phone number. But you can also use Interac E-transfer to make deposits to an Interac Casino. This without sharing any sensitive data with the casino.
The other service that Interac is offering is something called Interac Online. With Interac Online you get a secure gateway straight to your bank account without entering any personal financial information. To use this payment method you need to have an account in a Canadian financial institution or bank that Interac operates with.