What exactly is Interac?
Interac is a cross-border banking system that connects more than 200 financial institutions. It was formerly called the Interac Association, and it has been in operation since 1984. The Interac Association and the Acysys Corporation now control and administer the firm, which is made up of banks, credit unions, and a variety of financial cooperatives.
The organization, which was founded to make payments safe, convenient, and secure, is incredibly well-established and offers a number of services. Interac Cash, Interac Debit, Interac Flash, Interac e-Transfer, and Interac Online are examples of these.
Interac, unlike some of the newer online transaction systems like Neteller or Skrill, has been around for over a decade. It's also quite popular with online casino players, despite the fact that they now have a plethora of deposit/withdrawal choices.
Is Interac Safe and Secure?
Yes, Interac is completely safe to use. As previously said, the firm has a long history and has established a solid reputation. It promises instant processing times, unlike 'legacy' payment providers like VISA and MasterCard. This implies that after you've supplied deposit confirmation, your money will be transmitted to the online casino right away — there will be no delays. To put it another way, you'll be able to start playing real money online casino games right immediately.
Interac transactions are completely safe and secure, just like any other reputable payment service. Theft of information or cash is very difficult because all deposits are encrypted. Remember that you won't have to supply any personal information; all you have to do is set up the service with your bank. In the extremely unusual event that a bad actor gains access to your online banking profile, Interac's zero liability guarantee ensures that any monies stolen are fully repaid.
Does Interac Charge Transaction Fees?
Transactions may be subject to a minor cost, although it is normally far less than the fees charged by some of the big credit card issuers. These are often between 2.5 percent and 5 percent of the whole cash at online casinos, which isn't exactly a king's ransom. However, if you're concerned about hidden fees, read the terms and conditions of any casino website before depositing money.
Is Interac Supported by All Online Casinos?
Because Interac is primarily geared toward the Canadian crowd, it isn't accepted by all online casinos around the world. For this reason, it lags behind firms like Neteller and Skrill in terms of accessibility. Nonetheless, finding operators that accept the service isn't difficult — we've listed a few of the most popular online casinos in the UK that do accept Interac.
Wrap-Up
It's safe to say that, despite there being many newer contenders in the payment processing space, Interac is still able to keep up. Its convenience, fast transactions, and high-security tick all of the boxes that UK online casino players like to use.
But of course, no payment processor is perfect—this is especially true for Interac. As such. we've compiled some of its main advantages and disadvantages so you can make a more informed decision as to which payment processor to settle on.
Pros:
- High security
- Fast transactions
- Wide casino and bank support in Canada
- Easy registration
Cons:
- Limited access outside of Canada
- Banks and online casinos may charge transaction fees
If you are interested in using Interac for your online casino transactions, you can scroll down below to see our list of recommended online casinos that support Interac as a payment option.
