The withdrawal process starts with the user logging into their online casino account. The player can then navigate to the banking page and check the available casino balance.
That allows them to determine the maximum withdrawable amount. The next step is searching for the Interac withdrawal option within the banking page and clicking on its icon. The casino will generate a new page on which the player should enter the withdrawal details.
For first-time withdrawals, the user has to input their Interac details, through which the funds will be transferred. For subsequent withdrawals, the user only needs to select the pre-saved details. The user then has to input the withdrawal amount and initiate the request.
Does Interac Offer Fast Withdrawals at Casinos?
Players can also make withdrawals from their online casino accounts through Interac. The funds are transferred directly to the user's bank account after the successful processing of the withdrawals.
Interac is relatively faster than most payment methods. That is because the funds are sent directly to the user's bank account, where they can be accessed and utilized in any way without any additional processing time.
The process of making withdrawals is also straightforward, as highlighted below. Given that the funds end up in the user's bank account, using Interac can save users up to days of wait time needed for direct bank transfers.
The withdrawal limits vary in different online casinos. Most have a maximum limit per withdrawal up to 3,000 Canadian dollars per withdrawal.
However, users can initiate more than one withdrawal request in most online casinos, which can help them beat the maximum withdrawal limits in some way. The minimum withdrawal amount is typically 10 Canadian dollars in most casinos, but Interac has no set minimum limits.
Making withdrawals via Interact usually costs some money. The amount charged depends on whether the user's bank to which the casino will channel the funds is a participating institution.
The fees are usually less than 1.5 Canadian dollars for participating institutions, depending on the amount withdrawn. For non-participating banks, the costs may be up to 3.5 Canadian dollars.
Something to note is that all Interac transactions are irreversible after initiating the process.
Withdrawal Processing Times
The withdrawal processing times also vary among different online casinos. That is because it depends on the approval criteria of the casino. Once the casino releases the withdrawn funds to Interac, the funds are usually channeled to the user's bank immediately.
The processing time can also be dependent on the user's account level. For example, VIP account holders generally enjoy faster withdrawal processing times.