Service not applicable for US personal chequing accounts. Text size:. What are Interac e-Transfers? How do Interac e-Transfers work? How secure is an Interac e-Transfer? Is there a limit to how much I can send? You can cancel your transfer after the notification has been sent to the recipient up until the time they accept it.
Please note that the initial sending fee will not be refunded. If the transfer has not been picked up by the recipient 30 days after the date sent, the transaction will expire and a notification will be sent to the sender.
Autodeposit is a feature within the Interac e-Transfer service that enables users to save time when accepting an Interac e-Transfer. It is enabled by registering your email address with Interac, and allows you to receive funds directly into an assigned account without the need to select your FI or answer a security question.
When sending an Interac e-Transfer, the sender is made aware in online banking that you are registered for Autodeposit. Autodeposit has the same security as is standard with the Interac e-Transfer service. Interac e-Transfer is one of the safest digital money transfer services in the world. When you send or request money using Interac e-Transfer, the money is transferred through the established and secure banking procedures that financial institutions have used for years to settle cheques, ATM deposits and withdrawals.
Money never travels by email or text - these are simply used to notify you that money was sent or requested, as well as provide instructions to deposit. Go to Transfers in the left hand menu and find Send Interac e-Transfer. Under the header Send Interac e-Transfer, click on the link Autodeposit.
If you set-up your profile with both your email and cell number you will receive a notification by email or text every time you receive funds through the Autodeposit feature, letting you know that money has been deposited into your account.
The notification will also include the details associated with the transfer, who it was from, and any messages from the sender. Login to online banking and locate the transfer in the Interac e-Transfer Pending Transfers. You can change an existing Autodeposit in online banking by going to the Autodeposit screen to view all current the Autodeposits.
Next to an existing Autodeposit you will see 2 icons — a pen and a trash can. Select the pen icon to edit an Autodeposit and the trash can icon to delete. Request Money is a feature within the Interac e-Transfer service that allows you to request money via online banking. Money can be requested by sending an email or text message to any individual or business in Canada.
When the request is fulfilled, you will receive a notification once the funds are deposited into the selected account. If you send an Interac e-Transfer, you are charged immediately upon sending it. If you cancel the transaction while it is pending or the recipient declines it, you will not be refunded the fee. Only respond to Interac notifications from senders who you know. Interac provides the legal name of the individual or business that is sending the request to assist in identifying fraudulent e-Transfer requests.
If you weren't expecting that particular Requestor to request funds from you, contact your branch or report it as spam. Yes, there are limits related to the Request Money feature. Yes, you can cancel a Request Money that you have initiated by logging into your online account and clicking on the Pending link. If the money request is listed here, you will have two options listed on the right: Resend Notice which allows you to trigger a notification to the recipient and Cancel which allows you to cancel the transfer.
If the transfer has been completed, it will not appear in the Pending link and can no longer be cancelled. Yes, outstanding requests have automated reminder notifications that are sent to your contact. You also have the ability to manually re-notify the contact, as reminder. Once the request for money has been fulfilled, you will receive a notification that the funds are available in your account.
If you send a Request Money notification to someone whose FI does not have the Request Money feature implemented, that person will not be able to accept the request. They will have to decline the request. Are any account types exempt from the fee?
Only Canadian dollars can be sent and deposited to a Canadian account. If you also provided an email address, the recipient will be notified by email. Otherwise, you may be informed that the transfer notification could not be delivered and will be directed to either reclaim your transfer or correct the contact information of your recipient. Someone from another financial institution sent me an e-Transfer. If there are issues receiving the transfer, the sender will have to contact their financial institution for help.
Yes, the Manage Alerts section within online banking allows you to manage alerts such as these What should I do? If there is an error when attempting to receive an e-Transfer, please contact the person who sent you the e-Transfer.
The sender should then follow up with their financial institution for help. Used under license. Personal Banking Business Banking.
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