Payment methods: Interac, iDebit, cryptocurrency

The Canadian online market focuses on secure banking rails and strict compliance. The most frequent ways to replenish and withdraw from legal operators are Interac (e-Transfer/Business), iDebit (online banking at the checkout) and cryptocurrency through registered providers. At the same time, crypto assets in Canada are not legal tender and are regulated as goods/assets, and providers are required to register and comply with AML/securities, when applicable.

Interac: e-Transfer for Individuals and e-Transfer for Business

What is it: a national payment network for transfers from bank account to account. Formats - e-Transfer for personal payments and e-Transfer for Business with increased limits and rich remittance information.

Key features:

Bank-to-bank transfer with instant confirmation; business has limits of up to 25,000 CAD per transaction (in participating FIs).
Convenient functions like Autodeposit (funds fall immediately on the account without answering the security question).
Commissions from Interac - b2b tariffs for network participants (banks/payment providers) are periodically updated; the end conditions for a customer depend on their bank/operator.

Advantages for the player: quickly, habitually, without entering card data; usually supported on provincial platforms and by Ontarian operators. Cons: bank-dependent daily/monthly limits and possible AML/KYC checks.

Where it matters: In Ontario, for licensed iGaming sites (AGCO/iGO) and on provincial Interac platforms, often "method # 1" due to local trust and confirmation speed.

💡 Interac is also developing Interac Direct ™ - online payment directly from a bank account through the KONEK ™ gateway (declared "coming soon" for merchants).

iDebit: online banking "from the checkout"

What is it: payment through online banking directly on the merchant's cash desk page. You can both a guest (without registration) and with the creation of an iDebit account; the details of the Internet bank are entered in a secure form, and the merchant receives instant confirmation.

How it works for the player:

1. At the checkout, select iDebit → go to the online bank form.

2. Confirm the payment → iDebit sends a confirmation to the merchant, and returns you back.

3. In some cases, conclusions are also possible back through iDebit (depending on the jurisdiction/bank/operator).

Pros: no card details, quick confirmation, familiar online banking logic. Cons: coverage depends on participating banks and merchant conditions; Commission/withdrawal delays are possible for bank transfers.

💡 Note: iDebit is positioned as a Canadian real-time method that debits funds from a bank account and integrates with many merchants (including iGaming operators). Always check specific limits/commissions and output availability with your operator and in the iDebit FAQ.

Cryptocurrency: regulation and practical realities

Legal status: crypto assets in Canada are not legal tender; are classified as commodities/assets (taxable as commodities).

Who regulates:

FINTRAC: all crypto businesses (including virtual currency exchanges/transfers) must register as MSB/foreign MSB, comply with AML/reporting. Registration with FINTRAC is mandatory even with a provincial license.
CSAs/Provincial Securities Regulators: Crypto Trading Platforms (CTPs) are subject to registration/conditions, including requirements for custom/staking and handling of securities, if the model is subject to regulations.

Practice for player and operator:

Players should expect a strict CCL/proof source of funds for large movements and withdrawals.
Operators in the regulated segment (especially Ontario) select crypto providers that meet AML and price regulation requirements; many prefer bank rails (Interac) as more "risk-free" from the point of view of the regulator.

Comparison for players

Criterion	Interac e-Transfer	iDebit	Cryptocurrency
Speed	Instant confirmation; crediting quickly, withdrawal depends on merchant/bank	Real-time confirmation; withdrawal may take longer	Depends on network/provider, at CEX - quickly after KYC
Limits	Bank-dependent; business up to 25,000 CAD/txn	Depends on bank/merchant	Provider/regulatory and inspection limits
Commissions	Depends on bank/operator (Interac updates tariffs for network participants)	Bank Transfer/Conversion Fees and Charges Available	Network/exchange/provider fees
Compliance	Bank AML/KYC	Bank AML/KYC	FINTRAC MSB + possible CSA requirements
Convenience	Very high for Canadian residents	High with supported bank	Higher for advanced users

Player Checklist (Canada/Ontario)

1. Check the legality of the site. In Ontario, the iGaming Ontario logo and registration with AGCO; in other provinces - the official operator (OLG, PlayNow, Espacejeux, ALC, PlayAlberta).

2. Interac/iDebit: Find out limits and fees from your bank/operator, turn on Autodeposit for quick credits.

3. Crypto: if you use exchanges/wallets - make sure that the provider is registered with FINTRAC and complies with the CSA requirements (for CTP).

Operator's checklist (in general terms)

Ontario: AGCO/iGO compliance, RG procedures and transparent reporting of payments/outputs.

Payments: use Interac e-Transfer for Business for mass payments/high limits and informative remittances; document SLAs and commissions.

Crypto: providers must be MSB by FINTRAC; assess the applicability of CSA regulations to the custody/staking model.

In Canadian iGaming practice, Interac remains the gold standard "fast/reliable/local," iDebit closes the "online banking at the checkout" scenario with instant confirmation, and cryptocurrency requires increased attention to FINTRAC/CSA compliance and transparency of procedures. Choose a method for your province and risk profile: Interac - maximum convenience; iDebit - flexible online banking; crypto is an additional option for advanced users when strictly following the rules.