What are the advantages of using Interac e-Transfer?
Although some Texas Hold'em players think of Interac as being the same as a normal eCheck, there is one advantage that pushes this option above the rest. Since your Interac e-Transfers are being processed by your bank, there is no risk of a bounced transaction! Your account balance is deducted immediately and the cash only goes out if the money is there.
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Interac e-Transfer at a Glance
Available to Canadian residents only, Interac is the nation's most popular financial service, being used by over 12 million people on a daily basis. As well as offering debit cards to its users, Interac’s e-Transfer service enables you to directly deposit funds. This makes internet poker using Interac very easy for gamers. What’s more, you won’t have any security issues at a poker site that accepts Interac.
What Are The Advantages Of Paying Deposits for Online Poker with Interac?
As it can be used only by Canadian residents, it isn’t as easy to find a poker room that takes Interac, though they are out there. At those which do, users find that internet poker using Interac is a breeze because it’s such an easy-to-use service. You only need the recipient's e-mail address and telephone number to make an e-Transfer. No additional account needs to be made in order to use the service, so you can be depositing at a poker room that takes Interac in a matter of moments.
How To Deposit At A Poker Site That Accepts Interac
- Firstly, find a poker site accepting Interac e-Transfers as a deposit method. If you are registered for online banking with a provider that participates with Interac's e-Transfer service, all you need is the appropriate e-mail address and telephone number for the poker site which you are depositing at.
- Log onto to you online bank as normal and go to the option for sending money to a specific recipient. Enter the poker site details, the amount and send the payment.
- If you are a Canadian resident who doesn’t use a bank site accepting Interac services, you can still deposit by clicking on the link shown when you attempt to make an Interac e-Transfer through your chosen poker site. You must register with some banking information. Note that you will also be charged a $4.00 fee for using this service by an unsupported financial institution.
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Frequently Asked Questions
How do I use Interac e-Transfer?
Assuming you already have a bank account with a participating Canadian bank, Interac e-Transfers are easy to do. Start an online banking session (as normal) and choose to send money to a specific recipient. Then, enter the amount, and set a security question used for the payment. Then, the funds will be sent to the recipient, along with an email with directions to receive the money.
Will I get a welcome bonus when I use my e-Transfer account?
Yes! Since Interac e-Transfers cannot technically bounce, online poker sites love them! You should have no trouble receiving your welcome bonus and getting in to some Texas Hold'em games.
How quickly will my money be available after I deposit with Interac e-Transfer?
The money will be in your player account instantly, even while the gambling website is still waiting for the money, because they know that it will definitely clear.
Are there deposit limits?
Yes. The minimum deposit limit isn't the lowest around. At best, expect $30 to be the smallest Interac e-Transfer you can make - and in some cases the minimum may be higher. The maximum depends on your Internet poker site and your player history with them, but a $1,000 maximum daily limit is not uncommon. Also, as you become an established Texas Hold'em player, you can expect your Interac e-Transfer maximum deposit limit to increase even further.
Can US players make Interac e-Transfers at online poker sites?
No. Only Canadians can complete Interac e-Transfers, because it's integrated with their banking system.
Is there a fee to make an Interac e-Transfer deposit?
No. All money sent via Interac should be free for you, so your chosen real money card room should never charge you.
Can I withdraw to my Interac e-Transfer account?
Yes. This is the smoothest way to directly bring your gambling winnings back into your poker account.
How quickly can I withdraw money to my Interac e-Transfer account from my poker account?
Interac e-Transfer withdrawals are much like eChecks. So, allow approximately five business days from when your poker site submits the payment until you see the cash on your end.
What happens if my currency is not supported by the poker site?
Luckily, Canadian dollars are widely accepted by online poker rooms, so this really shouldn't be a problem. If, however, you do run into this situation, you can rest easy knowing that your gambling site can do an instant currency exchange for you. Check their terms and conditions for the details.
Is my Interac e-Transfer information secure with a poker site?
Yes! By using Interac e-Transfer, you’ll actual minimize the amount of information that is stored by the poker site itself. Instead, you’ll be relying on your bank (and the bank that the gambling site has an account at) to handle the security of your information at all times. And if the Internet poker room does have to store any information, you can be assured that they use security standards equal to those of the world’s most trustworthy banks.
How do poker sites protect my Interac e-Transfer information?
Poker rooms use the highest encryption standards available to ensure that your personal information is protected at all times. While there is really no reason for a gambling website to store any Interac e-Transfer information after you’ve already completed your deposit or withdrawal, you can rest assured that any stored information is safely protected using 128-bit encryption along with secure firewalls to ensure nobody will ever access it without authorization.
How will I be asked to verify my details when withdrawing using Interac e-Transfer at a poker site?
You will need to let the poker room know what bank account they are sending your money to, of course, so that they can direct your money to the proper account. Other than that, some Internet gambling sites may also ask you to verify your identity by sharing a photocopy of a bill attached to your home address or a form of identification, such as a driver’s license.
Is Interac e-Transfer more secure than other payment methods?
While we often praise the security standards of poker rooms, chances are that you trust your bank even more. That helps make Interac e-Transfer so special, as it uses your bank’s own online banking system to process your payments. If you trust your bank to help you pay bills or make transfers to other accounts, you can rest completely assured that your Interac transfers will be just as safe.
Will a poker site ever ask me for information about my Interac e-Transfer account?
There is no reason why an online Texas Hold'em room should ever need any information about your Interac e-Transfer account other than when you are making a withdrawal back to your bank account. Because all of the transactions will be taken care of on the bank’s side, you won’t even need to share much information when making deposits; however, the poker room will need to know where to send the money when you are making a withdrawal. Other than in these situations, there is no reason for a gambling website to ever ask you about your Interac e-Transfer account.