Interac vs. Flexepin

Interac and Flexepin are two totally different payment methods, even though they have one thing in common: they are incredibly popular across Canada. The former is, in fact, only available in the country, while the latter, even though widely available in Canada, has gone global. Therefore, regardless of whether you’re a Canadian or a player from other countries across the globe, make sure you stay with us to learn more about these two amazing payment solutions. They are both widely used by online casino players, and available across many online gambling sites. Why choose Interac or Flexepin as your payment method at an online casino site?

About Interac and Flexepin

As introduced, Interac and Flexepin are some of the most popular payment methods in Canada, even though quite different in their nature. Flexepin has gone global, too, but still, it is mostly used and trusted by Canadians. Nevertheless, the two are excellent alternatives for credit cards, and perfect for those online casino players who don't wish to transact online using traditional payment methods. And as such, the two are incredibly popular across online casinos and used by many players.

Interac is definitely the number one payment method in Canada. People use it for their everyday purchases and payments, and trust it with their lives. If you take a look at the company’s history, you’ll see that it was launched way back in 1984, and has been improving its services ever since. In fact, it has partnered with more than 200 Canadian banks, leaders in their field, to provide users with some extraordinary services.

What is Interac really? This is an all-inclusive payment solution. Once you get involved with it, you can use all of its services. Among the most popular are Interac Online, Interac Debit and Interac eTransfer, even though the Online and eTransfer products are used mostly by online casino players.

The company behind it is a non-profit one and provides users with a national payment network with integrity and stability like no other in the country. Thanks to its efforts and dedication to making users' online banking the most effortless one, it has gained users' trust and constructed an indisputable reputation. Users get to use all of the services or just one, as it suits them, across any desktop or mobile device that they may own. The solution is incredibly easy to get started with, and transactions with it are unbelievably cost-effective. In fact, the company only charges the fee that covers the basic costs of the transfer, considering it is a non-profit one. This works great for both Canadian online casino players and operators.

Flexepin is a prepaid voucher, founded not so long ago, in 2015. It is based in Australia, and launched by Novatti, a leader in financial technology, but led by Flexewallet Pty Ltd. It was actually created with the aim to make users’ online banking experience safer and easier. You don’t need to have a bank account or a credit card to use it; you can just go online or visit the nearest authorized reselling store to purchase your voucher in cash. Once you have the voucher, you can use it all over the globe, at stores and platforms that accept it.

As mentioned, Flexepin was based in Australia, but Canada was the first foreign country that welcomed it without a doubt. In fact, over 10,000 authorized stores were opened in Canada which are allowed to sell the voucher to interested parties. Other than these two, the solution is also available in Germany, Italy, Brazil, India, the UK, Switzerland, Malaysia, and South Africa.

But what makes Flexepin an attractive payment solution to use across online casinos? Well, there’s nothing that players value the most than security and privacy, and that’s exactly what this prepaid voucher can offer to them. First of all, the solution is regulated by the Australian Securities and Investment Commission. It also holds the Australian Financial Services License. And, it uses the best cybersecurity measures to protect all of your funds. As far as privacy goes, the solution allows you to pay for the voucher in cash and therefore never involve any credit card, bank account or personal details about yourself.

But, as an added layer of protection, if you visit its official website, you will see that the solution has an entire page where you can check whether a site you’ve visited is allowed to accept Flexepin payments. There’s a list of blocked, rogue sites which are not authorized, but you also have a tool where you can enter the site’s URL to check its eligibility. Therefore, as such a safe and convenient to use solution, it is no wonder that Flexepin is already on the payment methods lists across many online casinos.

Getting Started with the Two Solutions

When you decide to get started with either Interac or Flexepin, you will see that the process would be incredibly easy, involving just a few steps.

With Interac, the first thing you would need to do is enrol with the network by creating an account with it. The account you create would be linked to your bank account, and considering over 200 leading Canadian banks are already enrolled with the network, chances are you already have an account with one of them. Once your account is created, you can start using all of its products.

As mentioned, though, Interac Online and eTransfer are the two products that are usually offered across online casinos. Once you’ve registered your account and linked it to your bank, the network will send you an SMS or an email containing the necessary security questions and answers you need to use its services. These are measures implemented for security. In addition, you will get instructions on how to start using the solution. You would need to go through the verification and authentication procedures and then you can start using it.

Since Interac provides an intermediary service, each transaction you make with it will be recorded by your bank. The background process involved includes you requesting the transaction, Interac completing it through secure pathways from your bank to your desired destination, for a fee as small as $1.5. As mentioned earlier, this fixed fee is the one that covers the basic transfer costs and the only fee you’ll ever be charged when transacting with this solution.

With Flexepin, you first need to choose whether you’d like to purchase the voucher online or offline. If online, some of the authorized platforms you can go with are TopMeUp by Payment Source, DPO Think Payments, SCDKEY, Korsit BV, SEAGM, and OffGamers. But, you can also create an account directly with Flexepin and purchase the voucher there. If you want to purchase it offline, you have hundreds of thousands of authorized stores in Australia and Canada, such as GAS+, Hasty Market, Daisy Mart and BP.

Now, the voucher is available in several currencies and can be purchased with multiple worldwide-used payment methods, or cash, obviously, if you’re purchasing it offline. You can use the euro, Australian, Canadian and US dollars, and the UK pound. As far as the payment methods go, you can use PayPal, AmEx, Maestro, VISA debit cards, JCB, MasterCard and even the digital currency Bitcoin. You have plenty of denominations to choose from, that go from $20 to $500. However, since you can purchase up to 10 vouchers at one time, your overall total to shop, pay online or make a deposit at an online casino would be $5,000. Upon purchase, you will receive a 16-digit code you’ll need to use for depositing/paying online.

Using Interac and Flexepin Across Online Casinos

You’ve probably gathered by now that Interac and Flexepin are extremely popular methods across online casinos, particularly those that accept players from Canada. So, you should experience no trouble finding a casino you’d like to join. Actually, that needs to be your first step towards depositing with either of the two solutions. Make sure you explore casinos with proper licenses, offering games that you’d like to play, preferably by renowned software developers. Decide on the one to join, register an account with it and you'll be ready to make your first deposit.

With Interac, you would need to go through the following steps:

1. Load the casino’s Deposits/Cashier/Banking page.
2. From the offered methods, find Interac’s logo and click or tap on it.
3. In the new window, use your online banking account credentials and log into your bank’s online system.
4. Specify how much you’d like to deposit and enter the casino’s email address, if not pre-entered.
5. In the designated field, enter the security question you received via SMS or email.
6. Wait for the casino to provide the security answer, and as soon as it does, your deposit will arrive on your online casino balance.

Once the casino provides the right answer, the deposit goes through immediately. But, you should know that withdrawals with Interac are incredibly swift, as well. In fact, players prefer it as a withdrawal method, since it is one of the fastest for Canadian players. To make your withdrawal, go through the same procedure, and as soon as the casino approves it, Interac will put the background process in motion, even though you won't notice that since the withdrawal will arrive on your bank account sooner than you expected, and you'll receive a notification about the transfer via SMS or email.

With Flexepin, you’ll need to go through fewer steps, considering its nature. As long as you’ve found a casino you like that accepts it, do the following:

1. Head over to the casino’s Cashier/Banking page.
2. Choose Flexepin from the list of accepted payment methods.
3. Enter the 16-digit code you received upon purchase in the designated field on the pop-up window.
4. Specify how much of the money on your voucher you’d like to spend, hence, deposit on your online casino balance.
5. Confirm the transaction and the money will arrive in an instant.

Even though deposits with Flexepin are instant, you should know that you won't be able to make withdrawals with it at all. Due to its nature, again, the cashout service with it is impossible. This is actually the biggest downside when you choose to use it across online casinos since you'll need to look for an alternative for payouts. But, since there are so many convenient withdrawal methods across online casinos, you should not have problems withdrawing with, say, a digital currency or a popular eWallet.

Advantages and Disadvantages

The advantages these two payment methods come with are pretty obvious. Interac is the number one payment solution in Canada, trusted by over 200 banks and millions of users. It is easy to get started with and you can use all of its products once you do. You will find it across hundreds of Canadian-facing online casinos and you will be able to make both deposits and withdrawals with it.

The best part? Transactions with it will cost only a fixed $1.5 fee, which covers the basic transfer costs.

Flexepin is not only available in Canada, but across several other countries. It is super convenient to use since you won't need to share any banking or credit card details with your casino. All you need to do is purchase the voucher online or offline and use the 16-digit code to make a safe deposit. It is also a solution that is accepted across many casino sites and comes with no fees at all.

On one hand, the disadvantage with Interac is that it cannot be used by players who are not from Canada. This country restriction is a bummer, considering many players from other countries would love to use it. With Flexepin, the obvious downside is the fact that it is not an option for withdrawals. You would need to look for a different method to cash out your winnings.

Therefore, as you can see, the two solutions arrive with many benefits and only one disadvantage each. So, compare the pros and cons, see which one suits you better and make sure you try it across the best casino sites. You won’t regret it.