Interac vs. NETELLER

When checking out the payment methods list at a top online casino, players can always see either Interac or Neteller displayed as an option or both. That's because these two, although rather different, offer a similar internet transfer service, to players from different parts of the world, and that's what makes them popular choices among online casino players. The two are fundamentally different solutions, even though they both facilitate the transfer of money online, making it more cost-efficient and faster. Why choose Interac or Neteller as your online casino payment method?

About Interac and Neteller

about_interac_and_neteller

You probably noticed from the introduction that both Interac and Neteller are alternative payment methods, offering a different way for users to transfer money online, without the need to visit their bank to make a transfer request. As such, they are quite popular among online casino players wishing to make the most seamless deposits and withdrawals across casino sites. But, even though offering a similar service, the two methods are quite different, catering to different users. Stay with us to learn more about them.

Interac is a national payment network that originates in Canada and caters to Canadian users. It is operated by a non-profit organization, and launched in 1984, with the aim to facilitate users’ online banking experience. As time passed, the solution became one of the most respected and trusted methods for transacting in the country, since it partnered with more than 200 leading Canadian banks. The reputation and integrity it managed to keep throughout the years only made it more powerful each year. It continuously followed trends and improved its services, gaining suers’ trust and maintaining a seamless track record. Therefore, it should come as no surprise that most, if not all, Canadian online casino players are choosing it over any other.

This is a solution Canadians use for their everyday payments and purchases, mainly because it offers several products, to suit all of their needs. The most popular ones are Interac Debit, Interac Online and Interac eTransfer. The Online and eTransfer products are mostly used across online casinos, though, the former allowing for the money transfer to go directly from a bank account, while the latter via online banking or mobile banking. The solution offers other products, too, but we’ll focus more on the two offered across online casinos. Considering Interac continues evolving and implementing multiple-platform compatibility, and the partnered banks support online gambling transactions, it is no wonder you’ll see its name listed on the payment methods list at the very best Canadian casinos.

On the other hand, Neteller is a global eWallet, available in most countries across the world. It is based in the Isle of Man, however, it offers its services in almost all countries globally, with the exception of around 50 countries. In fact, it has offices in England, Canada, China and Costa Rica, so its team is comprised of multinational members that contribute to its excellence.

It is operated and owned by one of the most powerful financial companies in the globe, too, called Paysafe Group PLC, the name behind two other popular services, Skrill and Paysafecard. Therefore, its reputation is unrivalled. It was launched way back in 1999, so it has years of experience under its belt and has been changing its offering as the market requested. When it first appeared, it came with some really big fees, but later, those fees were lowered to cater to all kinds of users from all across the globe. Today, you can even use it without paying any fees, if you choose to use it via a fee-free payment method. On that note, Neteller gives you the chance to fund your eWallet account and cash out winnings from it using over 100 payments methods and over 28 currencies, cryptocurrencies included. Therefore, stay with us to learn more about it and how to register a member account with it.

Getting Started with the Two Methods

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The getting started processes with these two methods are quite different, as you will see, but are also quite easy to understand and follow.

To actually start using Interac, you would have to be enrolled with it. That means that you’d need to create an account with it, by visiting its website, and then connect that account to your online banking profile. That’s it; as long as you do, you can use all of its products. Even though it collaborates with so many Canadian banks, you won’t actually need to visit one of those banks to get started with it. You would need, however, to have set up your online banking profile already. But, given the fact Interac collaborates with major banks, you probably already have an account and an online banking profile with at least one of them.

So, after you’ve created your account, Interac will send you an email or SMS containing security questions and answers, passwords and instructions on how to start using it. As long as you follow the instructions step by step, and go through the verification procedure, you can immediately request a transaction with it. As you put in your transaction request, Interac will inform your bank and through secure pathways, initiate it and send the money to the receiving party’s account. Considering the solution is operated by a non-profit organization, you’d only need to pay a $1.5 flat fee for using its intermediary service, to cover the transfer costs. This fee, although it is there, is basically non-existent compared to the fees charged by other intermediary services.

To get started with Neteller, you’d need to visit its official website, click on the Sign Up button and provide your name, email address, gender, date of birth and default currency you’ll be using for your eWallet account, and then accept the Terms of Use. As soon as you do, your account will be ready to be used. Of course, you’d need to provide an ID document for verification, but as soon as you do, you will get full access to all of Neteller services. You’ll also receive a 6-digit code, your Secure ID, which you’ll need to provide whenever you’re using the eWallet.

The next step would be funding your eWallet account. As mentioned, you can use over 100 methods and over 28 currencies via your eWallet, cryptocurrencies included. In fact, even though previously this wasn’t possible, today, you can use your Neteller eWallet to buy and sell crypto as it suits you. This is actually one of the main reasons why online casino players choose to use it over any other eWallet.

Paysafe Group’s Paysafecard and Skrill will be your options for topping up your account and cashing money out of it, of course. But so will Giropay, BOKU, Przelewy 24, Rapid Transfer, iDeal, Trustly, Eps, and AstroPayCard, to name a few. Popular options like Euteller, Yandex, POLi, and QIWI will be your options, as well.

Using Interac and Neteller Across Online Casinos

After you’ve created the account with either of the two methods, you would need to choose a proper casino to join to use it. The first thing to do is to explore several casino options, and as mentioned, you have the finest casinos at your disposal, since most, if not all, such sites accept either Interac or Neteller or both. Interac is accepted in more than 600, while Neteller in more than 1,000. So, you’ll have at least 600 casinos to explore, that’s for sure. So, decide on the one that would work best for you and register your account with it.

To make a deposit with Interac, you would need to go through the following steps:

  1. Find Interac’s logo from the list of accepted methods found on the Banking/Deposits/Cashier page.
  2. Click or tap on it and in the pop-up, enter your online banking profile credentials.
  3. Just specify the amount you’d like to deposit and if not pre-entered, enter the casino’s email address.
  4. Enter the security question you received on your email or SMS when you created the Interac account.
  5. Wait for the casino to provide the right answer, to ensure the transaction is legit.
  6. As soon as the answer is provided, your money will arrive on your balance.

Considering you’ll probably want to use the money right away and start playing casino games with them, you’ll probably win something. Assuming you do, you’d want to cash out those winnings, and let us tell your right away that Interac is on the list of the best Canadian withdrawal methods. You will be able to withdraw your winnings fast, as soon as you go through the procedure we described for deposits, only the other way around. You’d need to provide the security answer, as the casino will provide the question. After the casino checks your requests and sends the money, it will arrive in your bank account, and you’ll be notified about the transfer via email or SMS.

To fund your account with Neteller, go through these steps:

  1. Visit the casino’s Banking/Deposits/Cashier page.
  2. From the list of offered methods, choose Neteller.
  3. In the pop-up window, enter your account using your Account ID and of course, the Secure ID number.
  4. Enter the amount you’d like to deposit.
  5. Confirm the transaction.
  6. Watch the money arriving on your balance in no time!

You can also make withdrawals with Neteller, but the waiting times will vary and can go up to three working days. To request a withdrawal, you would need to go through the same procedure as described for depositing, only this time requesting how much you'd like to cash out. As soon as the casino approves the request, Neteller will transfer it to your eWallet account, so you can cash it out as it suits you.

Advantages and Disadvantages

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From what you could see so far, both Interac and Neteller are popular payment methods across online casinos. You could notice how different they are in terms of how they work, but you could also notice that they have some shared values. Sure, they do have major differences, and these are the things that would guide you towards making the right decision on which one to use.

To sum up, both Interac and Neteller are accepted across hundreds of online casinos, the former across over 600, the latter across over 1,000. They are both available options for deposits AND withdrawals, and that’s one of the most important things for players. They are both easy to get started with and use, so you’ll have no problem finding your way around them. Most importantly, they have both been operating for years, improving their services and evolving, and they can both be used across both mobile and desktop devices.

Now, the most obvious difference between them and the biggest disadvantage when it comes to Interac is the fact that it can only be used in Canada, by Canadian users with an account with a Canadian bank. Neteller, on the other hand, is accepted all over the world, with the exception of around 50 countries. So, in this aspect, Interac is very limited. On the other hand, the fee you’d need to pay when transacting with Interac will always be the same, symbolic, flat $1.5 fee. With Neteller, fees vary, depending on the methods used.

But with Neteller, you can buy and sell cryptocurrencies with over 100 methods and 28 currencies, and that’s a major plus, considering at times, you might want to transact using crypto. Interac cannot process crypto transactions, because, after all, it is an intermediary service that works directly with Canadian banks, and banks cannot yet process any crypto transactions. Therefore, compare the good and the bad, and decide which one of the two would suit you better. Regardless of your choice, remember that they are both respected and trusted methods you’ll make no mistake using.

Payment Methods Comparison
Payment methods name Interac NETELLER
Available accounts n/a 1 account (1;2;3;4;N/A different currency accounts)
Available currencies n/a AED, AUD, BGN, BRL, CAD, CHF, CNY, COP, DKK, EUR, GBP, HUF, INR, JPY, MAD, MXN, MYR, NGN, NOK, PLN, RON, RUB, SEK, SGD, TND, TWD, USD, ZAR
Account management fees n/a free
Account unused n/a unused for 12 months: 5.00 USD (or equivalent) /month
Exchange fees (FX) n/a 3,99% (3.79%; 3,19%; 2,79%; 2,39%; 1.29%)
p2p Money transfer
Send money p2p n/a 1.45%, minimum 0.50 USD (1.45% money transfer fee with min. of 0.50USD for Bronze, free of charge for Silver, Gold, Platinum and Diamond)
Receive money p2p n/a free
Deposit fees
Bank transfer n/a 2.5%
Instant bank transfer n/a 2.5%
Credit card n/a 2.5%
Withdraw fees
Bank transfer n/a 10 USD
Cheque n/a N/A
Prepaid card at the ATM n/a 1.75% (1.75%; 1.75%; $6; $6; $6)
To merchant site n/a free
Cashback and promotions
Promotions n/a none (regular low-prize draws)
PrePaid card Interac Debit Net+ Prepaid MasterCard (Net+ card is only available to residents of authorized European Economic Area (EEA) countries)
Fee to order n/a 10 EUR
Costs at points of sale n/a free
Online bank statement n/a free
New prepaid card n/a 10 EUR
Cash withdrawal at ATM limits/24h n/a 1,000 USD (1,000; 1,000; 3,300; 3,300; 3,300)
Points of sale limits/24h n/a 2,250 EUR
Delivery time n/a 2 -10 business days
Prepaid card available currencies n/a 28
Validation n/a 3 years
Two factor authentication n/a Two-step Authentication
Fee to order n/a free app
Delivery time n/a right after app installation is completed
Money-back guarantee in case of fraud n/a for all NETELLER users
Link to terms & conditions https://www.interac.ca/en/terms/ https://www.neteller.com/en/policies/terms-of-use

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