Interac vs. MasterCard Credit

When searching for an online casino banking method that strikes your fancy, you’ll likely run into popular services Interac and MasterCard. Both of these services are incredibly popular, although they’re pretty different from each other when it comes down to how they operate. The similarities between the two start at safety and end at reliability. You can expect excellent security from both platforms that have your back. On the other end, their differences are many. One offers several payment services suited to various tastes, while the other is a classic bank card with years of experience in the market. One is suited for Canadian players, while the other is a worldwide powerhouse. Up next, we’ll try to give an in-depth answer to the question – Why choose Interac or MasterCard for online casino deposits?

About Interac and MasterCard

As we mentioned briefly, Interac and MasterCard are very different services at their core. Despite this, they’ve been around for a long time, learning more about the space in which they operate and growing over time. One space these services are incredibly popular in is the world of online gambling. The methods are viable options in tons of online casinos and with good reason! No matter which of the two you choose, you’ll be treated to some top-tier perks. When online gambling is in question, these services know how to offer users an enviable experience.

Interac is the first method we’ll go over. One of the most important things to note about this method is that it was established by a non-profit organization in Canada back in 1984. It might seem strange to some, but this is one of the reasons why the service remains exclusive to Canadian users. Being operated by a non-profit, it was easy for the service to build trust with users and peers alike. It managed to establish contact with over 200 banks in its early days, quickly rising to the top as a go-to payment service for practically any field you can imagine.

Within the country, Interac is used for all sorts of banking purposes. Most people can recognize the brand by the company colors alone, and many of them have likely used the method personally at one point or another! While there are several reasons for this, the main one is the different services it offers. Players have three different options to choose from with Interac. These include InteracDebit, Interac Online, and Interac eTransfer. These money transfer options are varied enough to be an excellent fit for most transactions, with the latter two picking up much more steam in the past two decades.

You might be wondering how this service managed to get where it is today, but the answer is simple. Interac has always stuck to its guns and treated consumers and partners with fairness and respect. Its integrity is easily one of its biggest strengths, so users know they can lean on the method to have their backs. As you can probably guess, this dedication is what’s made the service so widely used in the online casino space. While it might be a service limited to Canadian users only, it’s still managed to be a viable option in more than 600 casinos worldwide!

MasterCard is the other method we’ll look at in this text. Most of you have probably already heard of this service. It’s one of the leaders in the banking industry, covering ground in over 180 countries! The service is easily one of the biggest powerhouses you’ll run into today, and this has been true from the very start!

MasterCard originated in 1966 in the US. Surprisingly enough, it didn’t start as the service we know today, but as a membership organization called Master Charge, led by a few prominent financial institutions. These included the United California Bank, Crocker National, Wells Fargo, and the Bank of California. Over time, the membership organization grew its network to fit over 25,000 financial institutions and implemented a few changes. These brought the service closer to the MasterCard of today, as it rebranded and started issuing debit and credit cards.

As you can probably tell at this point, MasterCard’s power lies in its incredible network that covers most of the world. Everyone knows what the service does, and if you ask them, they’ll probably tell you that they use one of its cards regularly! The method is used for all kinds of transactions in the online and offline world. Naturally, it’s also been a staple in the online gambling industry for quite some time now because of its top-class safety methods and reliability.

Right now, MasterCard is leading the charge for bank cards through two different types of cards – MasterCard Credit and MasterCard Debit cards. Most working adults likely have some idea of what these cards have to offer. With a debit card, you’re free to spend as much money as you currently have on your account. With a credit card, users can take things a step further and overspend past their limits. The ability to go into debt is a defining feature of the second option. The reason why the difference between the two is important is because of the credit card ban some countries have taken up. Unfortunately, players using MasterCard credit cards are unable to use them for online gambling purposes in countries like Germany and the UK.

Getting Started with the Two Methods

One of the best things about Interac and MasterCard is that both methods are easy to use, and in turn, easy to set up. No matter which one you choose, you should have no trouble gaining access to their services and proceeding to use them regularly.

With Interac, the getting started process can be done conveniently online. To start, you’ll need to visit the service’s website and enroll in the network. While this is generally pretty quick and painless, it’s good to remember that you’ll need a valid bank account to link to the service. Since the operator collaborates with more than 200 Canadian banks, you should have no trouble doing this. Even if you happen not to have a bank account, finding an eligible bank near you and opening one shouldn’t be too much of a hassle.

Once this step is out of the way, you’ll need to follow a few additional ones to gain access to the various services available on your new account. While there are three separate services you can use, we’ll focus on the two most popular options among online casino users. These include the eTransfer service and the Online service. The first of the two is pretty simple. It’s a peer-to-peer service that facilitates a transfer from one user to another using only the recipient's email address or phone number. The Online service is the same as traditional online banking, giving users access to direct money transfers through their bank accounts.

Now that you’re more familiar with what you can do with your account, here’s a quick overview of those few additional steps we mentioned you’ll need to complete it. First, you’ll be sent a few security questions that need to be answered. These will be important for future transactions. After this, you should receive an identity verification request. If all goes well, your account should be all set up! Before proceeding with Interac, it’s best to remember that the service only facilitates transactions made from your bank account. This means that your bank ensures the money arrives where it needs to go safely, and it will be privy to your transaction history. You should also note that a small fee will be charged with every transaction.

The process of getting started with MasterCard is pretty different from the previous method, but it’s one many are already aware of. To get a card issued, you’ll first need to visit a bank or other financialinstitution that works with the brand. As the service is one of the leading ones in the field, finding one should take nothing more than a quick internet search. Once you find a bank in your area that works with the service, your next step is deciding whether you want to obtain a debit or credit card. Look over how these cards differ and choose wisely.

Now, you can start the application process by heading to the bank or financial institution of your choosing and applying for a card. This process can be a bit daunting for some, mainly because of the application forms involved in it. These forms require applicants to fill out specific private data, but be sure that this information will solely be used by the bank unless otherwise stated. Other than filling out a few forms, applicants will need to verify their identity by providing a few documents. Once everything is put together, things are up to the bank. Usually, your card should be approved and issued within a few days. You can pick it up yourself by heading to the point of issuance or have it delivered to your address by mail.

Using Interac and MasterCard Across Online Casinos

Using MoneyGram or MasterCard as your preferred banking method in online casinos comes with some excellent perks, respectively. For both of these options, safety and accessibility are a common thread in this field. The services are known for their high-end security, making the sometimes murky world of online gambling a much safer space. Of course, the access they grant to countless operators is something to be celebrated too. Since they’re beloved by players and casinos alike, they’re viable options in many venues globally.

If you’ve chosen to deposit at your favorite online casino using Interac, here’s what you need to do:

1. Go to the casino’s Banking Methods/Cashier/Deposits page. 
2. Look for Interac’s logo and click on it. 
3. You’ll be redirected to a page where you’ll need to log into your bank account using your online banking credentials. 
4. Specify the amount of money you’d like to send, and if not pre-entered, specify the casino’s email address. 
5. Enter the security question you received previously and wait for the casino to provide the answer. This is one of the security measures Interac uses. 
6. After you’ve provided the answer, the money will immediately arrive in your account.

Withdrawing with Interac shouldn’t be too much trouble either. The process is nearly identical to depositing, and players will experience some of the same perks here too! To cash out, just follow the steps we listed previously for depositing, with some small changes. Once your request is submitted, the service will start working on it in the background and ensure the money arrives on your balance soon. Additionally, you’ll be notified via SMS or email about the status of your transaction.

If MasterCard is your first choice of deposit method, here are the steps you should follow to get the ball rolling:

1. Choose the “Deposit with Credit/Debit Card” option.
2. From the list of offered credit/debit cards, select MasterCard as your deposit option. 
3. Enter the card’s number, expiry date, your name as the cardholder, and the CCV2 code on the back of the card. 
4. Specify how much you wish to deposit and confirm the transaction. 
5. In an instant, the funds will arrive on your balance!

As with the previous method, withdrawing with MasterCard doesn’t differ much from depositing. Players will need to follow the simple steps listed previously, with a change in step four. Instead of entering the desired deposit amount, choose the withdraw option and enter the amount you wish to cash out. The withdrawal process will begin instantly, but players should be aware that this service has somewhat drawn-out waiting times. While they usually take about five days, the waiting time can sometimes be extended to seven days. 

Another thing to note about MasterCard withdrawals is they’re a bit scarcer than deposits. While depositing with the service is available with most operators, withdrawing isn’t always an accompanying option. If this is a deal-breaker, make sure to check with the casino before registering an account. 

Advantages and Disadvantages

Despite some of their differences, Interac and MasterCard are two top-tier payment methods that undoubtedly do an excellent job of providing a safe and convenient way to transact online. By reading this text, you can probably decide which one best suits you, but just in case, here’s a review of the key points.

Let’s start with Interac. One of the most important things to remember is that while it might be a well-known service worldwide, it’s exclusively available to players from Canada. It offers quick deposits and withdrawals, online and traditional transaction services, and unbeatable security. Unfortunately, there is a small downside to using this method. Every transaction made with the service incurs a fee. Thankfully, this fee is fixed on the smaller side.

Things are pretty transparent with MasterCard from start to finish. Since the method is one of the oldest and best-established options out there, it’s available in online casinos across the globe. It has a massive payment network that offers great security and is a reliable service you can always count on. The downside to MasterCard also comes from it being an older method. Compared to modern options, such as eWallets and cryptocurrencies, the transactions times can feel very long.

All in all, you can’t go wrong with these options. They more than cover the essentials you’ll need for transacting at online casinos and even offer additional perks to make the overall experience a smooth one. Just take your pick and start having fun!