Interac Online Betting Sites in 2020

For Canadian consumers, the Interac Online service is a payment method that is well worth checking out. This is a speedy, safe and convenient payment solution that you can use with a number of Interac Online betting sites. Interac E-Transfers are also accepted at a couple of Canadian betting sites.

Basically, Interac Online allows you to complete transactions online and money is transferred directly from your bank account to the online merchant or betting site. You won’t have to enter any of your banking details so it is a very safe way to deposit funds. Better still, most financial institutions do not charge their customers any extra fees for using Interac Online.

In this article, we look at the various different options available to users of Interac Online betting sites. We outline the pros and cons of using Interac Online as a payment solution and we reveal how to deposit on Interac Online betting sites. If you think you would like to know more, just keep on reading.

While Interac Online is growing rapidly in popularity in Canada, it isn’t very well known in other parts of the world. Also, a disappointing amount of betting sites are Interac online friendly. You won’t have much choice if you use Interac as a payment method. Luckily, the bookies that do accept Interac Online are of the highest quality.

We could only find a couple of Interac Online Betting Sites in Canada. Royal Panda is one of the fastest growing global betting brands. Canadian customers can make deposits using Interac Online and can claim a $20 free bet welcome bonus too.

LeoVegas Sports is another Interac Online betting site and they have an excellent mobile casino suite. Apart from those two, Interac Betting sites are rather thin on the ground. More will surely add Interac as a payment method soon. When they do, you will hear about it here first. 

Interac Online Payments Now Accepted At Royal Panda Sports

Royal Panda may only have launched in 2014, but it has quickly become a major player in the gambling industry. Set up in Malta, it initially focused on the UK and other European markets. Now they are big in Canada, and they are one of only two Interac online betting sites. If you sign up with Royal Panda Sports, you can claim a very tasty $20 free sports bet.

If you are a resident of Canada, you can use Interac Online to deposit funds to your Royal Panda account. It is a simple process and the funds are debited from your bank account. The funds are then transferred instantly to the betting site, once you have confirmed the transaction. Interac Online can only be used for deposits with Royal Panda. Withdrawals must be made via different methods. See our extensive Royal Panda review for more details …

Royal Panda Interac Online Deposit And Withdrawal Limits and Times

LeoVegas Sportsbook now accepting Interac Online Deposits

Founded in 2011 in Sweden by Gustaf Hagman and Robin Ramm-Ericson, LeoVegas has made a big impact in the sports betting and casino industries. They have over 900 employees now and they are one of the top European mobile gaming companies. The unique selling point of LeoVegas is their targeting of the mobile gaming market on smartphones.  

Initially just a Casino site, LeoVegas sports launched in 2016. We couldn’t see a sportsbook bonus for new Canadian customers, but they have a welcome offer of $1000 + 222 free spins for casino. More importantly, LeoVegas members based in Canada can deposit funds by using Interac Online. You cannot make withdrawals using Interac Online though, check out our LeoVegas review for a full list of payment methods.

LeoVegas Sports Interac Online Deposit and Withdrawal Limits and Timescales 

Advantages

So, if you do decide to sign up with an Interac online betting site, what are the main advantages? Well first and foremost, the payments are instant and that is a big plus. Safety is another feature of the Interac Online service, as you never have to enter your bank details on betting or gaming sites.  

Another excellent advantage that comes from using Interac Online is that you can only spend what you have in your bank account. Most merchants don’t charge extra fees for using Interac Online, and that includes betting sites like Royal Panda and LeoVegas. 

• Instant deposits.
• Safe and secure.
• Minimal Fees.

✅ Instant Deposits

Those who are fans of in-play betting know how important it is to have access to speedy deposit methods. Matches or events can change dramatically in a split second, as can odds, so it is imperative that you can access funds quickly. If you use Interac Online betting sites, you will be able to do just that.

With Interac Online, depositing funds is fast and you can access them instantly. Once you confirm the transaction on your financial institution’s website, funds are transferred straight from your bank account to your online betting account. It really is that easy, so Canadian in-play betting fans should seriously consider using Interac Online as a payment solution.  

✅ Safety

It always worries people when they have to part with sensitive financial data online. With so many phishers and fraudsters about, it is no surprise that people are being more cautious online. If you are concerned about your info falling into the wrong hands, you should definitely think about using Interac Online betting sites.

You will never have to enter your bank account details on any website if you use Interac Online as a payment method. All transactions are confirmed and processed on your personal online banking site. So for peace of mind alone, it is worth checking out Interac Online. You’ll find it hard to locate a safer payment method.

✅ Minimal Fees Apply

As far as we could see, betting sites did not apply any fees to deposits made via Interac Online or Interac E-Transfer. You will have to check the terms and conditions of your personal bank account to see what, if any, fees are applied.

Most banks do not charge any extra fees to Interac Online transactions, but usual fees apply to your bank account. These will obviously vary between banks, and with so many financial institutions now facilitating Interac Online payments, there are too many to list. As we already stated above, check with your bank to see what fees apply to Interac Online transactions.

Disadvantages

It isn’t all good news when it comes to using Interac Online betting sites. One big negative is that gambling transactions will be apparent on your bank statements. That is not good for those in search of mortgages or loans. You can’t make withdrawals from betting sites using Interac Online. The lack of participating betting sites can’t be ignored either.

• Limited availability with Canadian betting sites.
• Gambling transactions appear on bank statements.
• Cannot be used to make withdrawals

❌ No Withdrawals

While Interac works like a charm for making betting site deposits, punters will need to use a different payment method entirely when it comes to withdrawals. Unfortunately, Interac is a one-way street, and this isn't specific to betting sites. You cannot receive funds into your Interac account except for using the top-up function.

❌ Not Enough Interac Online Friendly Betting Sites

Perhaps the biggest negative when it comes to using Interac Online is the lack of betting sites that accept it as a payment method. In our research we could only find two Interac Online betting sites, Royal Panda and LeoVegas. Apart from that pair, no other Canadian bookies accepted Interac Online for deposits.

This surely will have to change in the future as Interac Online continues to surge in popularity. A vast amount of banks and credit unions now have the facility, so it should only be a matter of time before more Interac Online betting sites get on board. Check back here for the latest news on bookmakers that have added Interac online as a payment method.

❌ Betting Activity On Bank Statement

As you might imagine, most financial institutions do not look favourably upon gambling. For the vast majority of people it is a fun (and sometimes profitable) pastime, but for others, it can get out of control. That is why we place huge importance of the promotion of responsible gambling here at Sportbetting24.

Many banks do not like to see their customers using Interac Online betting sites, particularly if they are applying for credit or loans. With a lot of e-wallets you won’t have betting activity on your bank statements, but with Interac Online it is unavoidable. The bank processes the payment, so if you are thinking about applying for a mortgage or credit, Interac Online betting sites might not be the best choice.

How To Deposit With Interac at Betting Sites

Okay, so we often get asked about how to deposit with Interac Online betting sites. Rather than typing a big wall of text, we have decided to go down the visual route for a change. As you will see from the screenshots below, making a deposit at Royal Panda (or LeoVegas) is a very simple process. Check out our step by step guide on how to deposit using Interac Online below…

How to Deposit with Interac Online at Royal Panda Sports

• Step 1️⃣: Log in and click ‘Deposit’
• Step 2️⃣: Click on ‘Interac Online’ (Interac E-Transfer also available)
• Step 3️⃣: Choose your deposit amount and click ‘Continue’
• Step 4️⃣: To Get a $20 Free Bet Choose ‘Free Sports Bet’
• Step 5️⃣: On the next screen click ‘Continue’.
• Step 6️⃣: Choose Your Financial Institution and Complete Transaction In The Pop Up Window

How To Create an Interac Account

Setting up an Interac account is a piece of cake. All you need is an online banking account with one of the many Interac Online providers. A massive amount of banks and credit unions facilitate payments made to merchants via Interac Online. All participating banks and credit unions are listed on the Interac website. Technically, you don’t need to register an account with Interac Online.

If a merchant or betting site accepts Interac Online it will be listed as an available payment method. Just click on the Interac Online Logo and you then select your bank or credit union from the list. You will be then brought to your bank’s website where you can confirm the transaction. You won’t need any new usernames, passwords or accounts, it is all done via your personal online banking account.

E-Transfers

Another Interac product that might interest Canadian punters is its E-Transfer service. This unique service enables you to send money to anyone or any Interac friendly betting site from the safety of your online banking account. Notifications are sent using either email or text messages. There used to be an Interac E-Transfer service that didn’t require online banking, but that was discontinued in 2018.

Interac Online Mobile Deposits

Interac Online is not only good for desktop, but it can also be used with ease to deposit funds via mobile too. Once your Interac Online betting site has a mobile or web app, you can deposit using Interac Online. Simply head to the banking area on the app, click deposit and choose Interac Online as the preferred payment method. Follow the instructions on the screen and once you complete the transaction, funds are available in an instant.  

Alternative Payment Methods

As far as debit payment solutions go, Interac Online is up there with the best Canadian payment methods. However, as we stated earlier not many betting sites currently accept Interact online as a payment method. Similar alternatives to Interac Online include PayPal, iDebit and Skrill. Those are more widely accepted across the betting industry too, so if you want more choice you should give those payment methods a try.

Top 3️⃣ Alternatives

1. iDebit
2. PayPal
3. Skrill

Interac Online Pros And Cons

Interac Online FAQs