Interac processed more than 1.8 billion transactions in 2023 alone, and you can be sure a lot of those were related to sports betting. Here, we bring you the best Interac betting sites in Canada, along with guidance on depositing and withdrawing using Interac, and an exploration of its various features.
- What Is Interac e-Transfer?
- How To Deposit Using Interac e-Transfer
- How To Withdraw Winnings With Interac e-Transfer
- Interac Transaction Fees & Limits
- Interac Safety & Security
- Pros & Cons of Using Interac for Betting
- Interac vs Other Payment Methods: A Comparison
- Alternatives to Interac Betting
- ThePuntersPage Final Say
- Interac betting sites FAQs
Best Interac Betting Sites in Canada
100% Deposit Bonus up to $40 + $10 Free Bet 18+. New customers only. Min Dep $10. Debit cards only. Opt in for bonus funds. Wagering, sportsbook 3x at min. odds of 1.40 (2/5), casino 50x. Sports bonus must be wagered before using the casino bonus. Valid for 7 days. Geographical Restrictions Apply. Full T&Cs apply. Bet Responsibly. BeGambleAware.org #ad
|
125% up to $250 18+ Open a Sports Interaction account. Deposit $10 or more. We'll match your deposit with a 125% bonus up to $250. Bonus must be wagered 6 times on deposit plus bonus on sports bets at odds of 1.50 or above. Full T&Cs apply. Bet Responsibly. BeGambleAware.org #ad
|
What Is Interac e-Transfer?
Interac e-Transfer is a fast and easy way to deposit and withdraw funds from Interac betting sites using your bank account.
All you need to do is link Interac to any of the nearly 300 affiliated banks to get started. Once connected, you can swiftly and securely transfer funds. All sites that accept e-transfer also accept Interac, making it one of the most widely available payment services, extending beyond the realm of sports betting.
In fact, since this payment method was developed just for Canadians, CAD is the main currency — goodbye currency conversion fees! Finally, Interac also offers a debit service, which is a standard debit card that can be used internationally.
How To Deposit Using Interac e-Transfer
Making an Interac deposit is super easy, and the process is similar to what you would normally do to pay a regular business. If you’ve never done this before, here’s a quick rundown.
Head over to your bookmaker’s deposit page and input the amount you’d like to deposit.
Select ‘Generate Payment Details’ and choose the account you would like the funds to be taken from.
Log in to your bank account app or website.
Select e-transfers and choose Interac. You’ll be asked to add the payment details which you generated from the bookmaker.
Enter any security questions asked by the bank, and you’re all set.
The transaction is instant and will be confirmed via email or message.
How To Withdraw Winnings With Interac e-Transfer
The Interac withdrawal process is just as simple, although there are a couple of things to keep in mind. Firstly, you’ll need to have made a deposit using Interac before withdrawing, which is standard practice.
Also, most Canadian sportsbooks require you to place bets and verify your account before requesting a withdrawal. Check your bookie's T&Cs to be sure. Once that’s done, you can go on to actually withdraw.
Head over to the bookmaker’s withdrawal section.
Select the Interac e-transfer withdrawal method and the amount. Hit ‘Withdraw' and await instructions by email or phone.
Go to your selected bank account and follow the instructions sent to you.
How Long Does an Interac e-Transfer Withdrawal Take?
This is entirely dependent on the bookmaker; all Interac betting sites have their own withdrawal policy. From Interac’s end, withdrawals could take up to a few minutes.
| Bookmaker | Processing Time |
|---|---|
| Unibet | Up to 72 hours |
| Sports Interaction | Up to 48 hours |
Interac Transaction Fees & Limits
While technically, Interac itself is completely free, you may be subject to fees and limits by either your bookmaker or bank. Luckily, bookies almost never charge anything for Interac transfers, but it’s best to check beforehand to avoid disappointment.
These are the fees and limits for our bookies:
| Bookmaker | Deposit Daily Limit | Withdrawal Limit | Deposit/Withdrawal Fee |
|---|---|---|---|
| Unibet | CA$2,500 | CA$9,999 | No fees |
| Sports Interaction | CA$3,000 | CA$5,000 | No fees |
There are almost 300 banks that offer the use of Interac e-Transfers, which makes them impossible to list here. To give you a general idea, below are some limits that apply with the leading Canadian banks when it comes to this payment service.
| Bank | Limits to send | Limit to receive | Fees |
|---|---|---|---|
| HSBC Canada | CA$10,000 per week | CA$25,000 per transaction | No fees |
| Chrisitan Credit Union | CA$10,000 per week | CA$10,000 per transaction | Receive: No funds Send: CA$1.50 |
Interac Safety & Security
When Interac sports betting, one of the first things you should keep in mind is safety. Interac is a highly secure payment method, ensuring your peace of mind with its array of safety features designed to protect you every step of the way.
-
Encryption for transactions
-
Authentication measures at several intervals
-
Secure passwords
-
Confidentiality between Interac and your banks
Interac also suggests exercising caution when sending money or replying to messages or emails which may be fraudulent.
Pros & Cons of Using Interac for Betting
Interac e-Transfer betting sites offer it for a reason, and that reason is the method’s availability and security, among other things. Still, it’s important to consider both the positives and the negatives before using this payment method.
- Supported by most financial institutions
- No fees for deposits and withdrawals
- Make deposits directly in Canadian dollars
- It’s an extra safety net for your funds
- Withdrawals take up to three days
- Limits can be relatively low
- Some banks & bookies still don’t offer the service
Interac vs Other Payment Methods: A Comparison
So, we can all agree that Interac can be an excellent choice for Canadian punters, but how does it compare to some of the other big hitters in the Canadian betting market? Let’s find out.
Interac e-Transfers vs Instadebit
Instadebit works in a similar way to Interac and offers a few standout features, including a fast, safe and secure system, as well as 24/7 live support. There are a few drawbacks, though, namely a shorter list of participating banks, and most glaringly, you can only link it to one bank account.
Winner: Interac e-Transfer
Interac e-Transfers vs iDebit
The best iDebit feature is that the service is free for merchants, which means you can send and spend without losing money on extra charges.
On the other hand, the main drawback of iDebit payments is the limited number of available banks. They’re also held back by the amount of bookmakers which accept iDebit, compared to those that work with Interac.
Winner: Interac e-Transfer
Interac e-Transfers vs Debit Cards
While Interac and debit cards offer a very different product in general, they are similar in the sense that you can use both to deposit and withdraw funds from any Canadian bookmaker.
The whole point of Interac is that you’re adding an extra layer of security to a debit card, and it gives you a wider choice of bookmakers. The counter argument is that you need a debit card/bank account to actually use Interac — you can’t have one without the other.
Debit cards can be used for promotions just like Interac; however, debit card limits are normally much higher. This makes debit cards an ideal choice for high-rollers.
Winner: Draw
Interac e-Transfers vs PayPal
One more option worth checking out is PayPal — another massive payment service. Let’s start with the positives: PayPal is a worldwide brand with a huge list of available bookmakers, and boasts better limits as well as free payments.
One key disadvantage of PayPal, however, is that there are fees for currency conversions. Secondly, most bookmakers won’t allow you to claim any promotions using this service.
Winner: Interac if you love a promotion (who doesn’t?)
Alternatives to Interac Betting
ThePuntersPage Final Say
If you're based in Canada, there are tons of Interac betting sites, and we’ve given you the top ones when it comes to betting limits, availability of bonuses, and associated fees.
Interac betting sites FAQs
Yes, Interac is an excellent choice for both deposits and withdrawals. Most bookmakers will offer it with minimal to no fees.
Just about every Canadian sportsbook accepts Interac. The ones on this list definitely do, and are great options for Interac betting.
Interac is a completely safe service to use and is in fact one of the most used in Canada, with 1.18 billion e-transfers in 2023.
Yes, in most cases bookies will have some sort of daily, weekly or monthly limits to transactions. This is generally around CA$3,000 for deposits, and slightly higher for withdrawals.
This depends on the bookmaker, but the bookies on our list all accept Interac for welcome bonuses. We still suggest checking out the terms and conditions before using a welcome offer.