Interac® e-Transfer

The simple, secure way to transfer money from anywhere to anyone.

Send or receive money in a snap with Interac e-Transfer. All you need is an email and/or mobile phone number and an account at a Canadian financial institution. As a sender, you don't need to worry about figuring out where the person banks and they won't know where you do your banking, because all account details and financial institutions are kept confidential.

Features

Whether you owe a friend for pizza, need to pay your share of the rent or expect to receive a payment from a client, we've got you covered.

It's easy. There's no need to set up any new accounts, user IDs or passwords. As long as both parties have access to online banking, all you need to send or receive money is the recipient's mobile telephone number or email address.

It's secure. When you send an Interac e-Transfer by text or email, the money never travels with the message. Instead, recipients receive an encrypted link to deposit the funds using their own banking credentials, once they have successfully answered the security question determined by the sender.

It's convenient. With Interac e-Transfer, you can use any computer or mobile device to send or receive money instantly by text or by email. Whether you owe your friend, or he owes you, you'll be able to pay or receive conveniently and securely.

It's quick. Recipients are notified by email and/or text that they have received a payment within approximately 30 minutes from when the sender initiates the transfer.

Ways to use it

Interac e-Transfer is a quick and convenient way to transfer money for almost anything, such as:

  • Repaying money you borrowed from a friend
  • Sending funds to children at college or university
  • Transferring your share of rent to your roommate
  • Sending money in place of a gift
  • Paying the invoices of suppliers (on single and dual-signature business accounts)

Sending and receiving

Sending an Interac e-Transfer: Step-by-Step

  1. Log in to your online banking
  2. Create a profile with your email address and/or mobile phone number, if you have not already done so
  3. Select 'Send Interac e-Transfer' under 'Transfers'
  4. Select a recipient or add a new recipient profile, by entering the person's name or business name, plus an email address and/or mobile number
  5. Choose if the recipient will receive an email and/or text message
  6. Create a security question and answer that only you and the recipient know
  7. Add a personal message (optional) but don't include the answer to the security question
  8. Select an account from which to make the transfer and enter the amount
  9. Send the Interac e-Transfer (your account will be debited the transfer amount immediately, plus any applicable fees)

Receiving an Interac e-Transfer: Step-by-Step

  1. Ensure the link received via email or text message offers a secure connection that takes you to a site with the 'https' prefix, rather than 'http'
  2. Click on the link and you'll be taken to a secure Interac website
  3. Follow the instructions on the site to select Motive and click 'Deposit', and you'll be redirected to our online banking login screen
  4. Log in to answer the security question and accept the transfer
  5. Select the account where you wish to deposit the money

Fees

Service fees
Sending $1.50
Receiving Free

FAQs

1. What's an Interac e-Transfer? Expand/Collapse

It’s an easy, secure, quick and convenient way to send or receive money. Recipients are notified by email and/or text message and must log in to their online banking to accept the transfer.

2. Who can use Interac e-Transfer? Expand/Collapse

Any individual with an account at a Canadian financial institution that offers the service can initiate an e-Transfer, while anyone with an account at a Canadian financial institution can receive one.

3. Is it safe to transfer money by email or text message? Expand/Collapse

Actually, there's no “money” attached to emails or text messages. Instead, financial institutions use standard practices for safe money transfers.

4. Are there limits on how much can be sent or received? Expand/Collapse

While you can send any amount above $0 – there are maximums for sending Interac e-Transfers.

Dollar Limits
Per Transfer Transaction limit of $3,000
Weekly Rolling Limit $10,000
Monthly Rolling Limit $20,000

5. Is there a fee to cancel an Interac e-Transfer? Expand/Collapse

There are no cancellation fees, however the sending fee of $1.50 is non-refundable. If you cancel an e-Transfer, your account will be credited with the dollar amount of the transfer minus the sending fee.

6. What happens when a recipient's financial institution doesn't offer this service? Expand/Collapse

Recipients can still receive the money by registering with Interac and providing their banking information. The deposit usually takes four to six business days and Interac charges a $4.00 administration fee, which is deducted from the total amount of the transfer.

7. What if I don't bank online, can I still deposit an Interac e-Transfer? Expand/Collapse

Yes, provided you have an account at a Canadian financial institution. However, you'll have to register with Interac and provide your banking information. The deposit usually takes four to six business days and Interac charges a $4.00 administration fee, which is deducted from the total amount of the transfer.

8. Why do text-message notifications come from 100001? Expand/Collapse

This is the short code from which all Interac e-Transfer text notifications are sent.

Can I send an Interac e-Transfer to a landline? Expand/Collapse

If you provide only a landline as the way to notify a recipient, you'll be informed that the transfer could not be completed. You'll need to provide new contact information – either a mobile telephone number or email. If you provide a landline and an email, the recipient will be notified via email.

10. Can I send an Interac e-Transfer to anyone? Expand/Collapse

No. In order to send and/or receive Interac e-Transfers, both senders and recipients must have accounts at Canadian financial institutions. The transfer must also be in Canadian dollars.

11. How long does it take to receive the money? Expand/Collapse

For recipients, it takes approximately 30 minutes for notifications to be received. As soon as the notification is received, the recipient can deposit the money. As a sender, the money is debited from your account immediately after finalizing the transfer.

12. What happens if I use an incorrect mobile phone number Expand/Collapse

The notification will be sent to that phone number, however, that person will not be able to deposit the transfer because they won't know the answer to the security question. Recipients must correctly answer a security question before they can deposit the money.

13. Can I cancel an Interac e-Transfer? Expand/Collapse

You can cancel the transfer anytime until the recipient accepts it. Generally, it takes 30 minutes for notifications to be sent to recipients. To cancel a transfer, click on the 'Cancel' link beside the list of pending transfers.

If a transfer hasn't been accepted within 30 days, it will automatically expire and the sender will be notified. The sender can either click on the 'Cancel' link beside the list of pending transfers or let Interac cancel the transaction. Money will be returned to the sender within seven days of cancelling the transaction, however, the $1.50 fee charged at the time of sending the transfer is not reimbursable.

You can also send reminders to recipients who have yet to accept transfers by clicking on the 'Resend Notice' link beside the list of pending transfers.

14. What happens if the recipient rejects the transfer? Expand/Collapse

In that case, you'll be notified and prompted to login to your online banking to cancel the pending transfer.
 

Quick Login

Ready to get started?

Already have an account? Expand/Collapse

Login to Online Banking to send an Interac e-Transfer

Not a customer? Expand/Collapse

Apply online or contact us to open an account