Interac has become one of the most-used consumer payment and bank transfer methods for Canadians. If you have an email address and account at a Canadian bank or credit union, you can instantly send or receive as little as $10 to potentially up to $10,000 dollars to anyone else with an email address and a bank account. Given that the fees for using Interac tend to be no higher than a dollar, or sometimes completely free depending on your banking plan, Interac transactions numbers have exploded. In 2017, there were 241 million Interac e-transfer transactions and by 2022, transactions grew to 6.3 billion.
The low cost, convenience and security of Interac e-transfers is what makes them the most sought-after payment method with regard to online sports betting providers that serve Canada. Unfortunately however, it can be hard to find reputable sportsbook brands that accept Interac for a couple of reasons: First, the new Ontario vs. "rest of Canada" market divergence and second, navigating sportsbook reviews to avoid all the scam sites that support Interac.
From an online sports betting perspective, Canada as a whole is now split into two distinct markets. Ontario now has a fully legal and regulated local market of providers, but these platforms only serve people located in that province. Thus we've authored a page about the top Ontario Interac betting sites which applies to that situation. This leaves the "rest of Canada" as the other distinct market, which is what this page discusses. So if you are in British Columbia, Alberta, Saskatchewan, Manitoba, Quebec, the Atlantic Provinces or the Territories, this page applies to you with regard to Interac sportsbooks.
It can be difficult to come to know the top online sportsbooks with Interac e-transfers due shady affiliate marketers that publish "sportsbook review" sites with poor and misleading information. Many "review sites" are now actually owned by Russian bookmaker brands themselves in order to promote their scammy betting sites to people in the "rest of Canada" market. They know that people in Canada want to play at sites that support Interac as a banking method. Search for Interac betting sites Canada, and you will find no shortage of pages dedicated to the subject.
Unfortunately, many of the betting brands that you will find listed and highly-ranked on these "Interac sportsbook resources" can be found on our page of scam betting sites for Canadians to avoid. Brands like 22BET, 1XBET, 20Bet, BetWinner, N1 Bet, MelBet and LV Bet among others have demonstrated that they will essentially steal customer money, confiscating the winnings of successful players.
That's why we developed SNBET.ca to begin with. We want to show Canadians which "grey market" or "off shore" betting brands are trustworthy. All the Interac betting brands that we list for the "rest of Canada" have moved to serve Ontario legally, because they have been allowed to do so by the regulations in that province. Let's get into some topics about Interac as a sportsbook payment method and how e-transfers work at our recommended brands.
For all online gambling payments made from Canadian credit cards, the transactions are deemed as cash advances, not purchases. Thus, from the instant of the transaction, high interest rates and flat fees are applied. This is the case even if you always pay off your balance every month, so these fees are unavoidable with a credit card deposits. With Interac, the fee to make an online gaming deposit is usually no greater than a dollar. In some cases, it might actually be free depending on your banking plan's fee schedule.
The process for paying into your betting site has been made very simple, and assuming all is carried out correctly, your money will land in your betting account in seconds. Once logged into your betting site, you be able to click a button to "deposit" or "cashier". This will lead you to all the available deposit options. Choose "Interac e-transfers", then, where prompted, enter the amount of money you wish to deposit. When you confirm your desired amount, your betting site will show you two items of note. The email address for where to send your e-transfer in the indicated amount, and a reference code which you will need to paste into the "notes" of your transfer. Then, simply log on to your online banking, and start the process to create an Interac e-transfer. Enter these correct email and reference code and confirm the e-transfer. You may wish to copy and paste these elements to avoid making a mistake which could delay the deposit. Again, once you send the e-transfer, the money should land in your betting account in mere moments.
For a withdrawal, you will start in the "cashier" area of your betting site. Click to "withdraw" funds, enter the amount you wish to take out and confirm the amount. If you paid into your betting account with an e-transfer, you will likely need to receive your withdrawal to the same email address to satisfy anti-money laundering requirements.
Some betting sites that serve the "rest of Canada" market offer "Interac Online" in addition to Interac e-transfers. Interac Online is available for customers that bank online with RBC or TD. If you are with another bank or credit union, Interac Online is not supported for you as of April 2023. If you are with RBC or TD, Interac Online allows you to confirm your debit payment to your betting site all as part of your online experience.
Simply go to the sportsbook "cashier" area or click to "deposit", then select Interac Online. Enter the amount to deposit, and confirm. This will open a new tab or window so you can login separately to your TD or RBC online banking to confirm the payment. It's actually even simpler than an e-transfer, but again, it's only available with these two banks so far.
Some sportsbooks offer "Interac Payment Requests", which are available for customers of most Canadian banks, so it is thus not as limited as "Interac Online" in this respect. With Interac Payment Requests, within the sportsbook cashier, you simply indicate your bank and how much you wish to deposit. Then the sportsbook will send or spawn an the Interac payment request, where you follow the prompts to login to your online banking profile to confirm the Interac payment request. Fast and super simple.
In other words, how much can you deposit or withdraw via Interac to or from a betting site from Canada? There is no standard answer as this varies from sportsbook to sportsbook. On the low end, the minimum deposit or withdrawal tends to be in the region of $10. On the high end, it varies more, depending on both the player's bank account settings & permissions, and/or the limits at the given betting site's payment processor.
In general, most people and payment processors have limits of $2,500 to $3,000 per Interac transaction. However, if the banking customer or payment processor has applied for higher limits, you may see Interac limits at $6,000 or even $10,000 for both person and betting site (via their processor). When in the "cashier" area of your given online sportsbook, each available payment method should also display to you the range of allowable transactions, so this should be made very clear to you.
If your sportsbook shows you a limit on the lower end of this range, you should still be able to make several deposits up to your bank's daily Interac limit. In other words, if your personal Interac limit per 24 hours as set by your bank is $10,000, but the transaction limit at the sportsbook is $2,500, you may be able to make up to four (4) consecutive Interac deposits in short order, so you can start with a larger bankroll.