Transfers

• It's easy. Once set up with Me-to-Me, you can start making transfers from your Motive account to and from your linked bank accounts from the convenience of online banking.
• It's secure. Transfers can only be completed between accounts that are in the name of the same account holder(s). All parties on the accounts must sign the Me-to-Me money transfer authorization form for each account that needs to be linked. Me-to-Me will only be activated once accounts are verified via void personalized cheque or pre-authorized debit agreement from other FI in section 2 of the Me-to-Me form.
• It's convenient. With Me-to-Me transfer, you can complete a transfer from your linked bank accounts without having to call, send instructions to Motive or visit an ATM to deposit cheques.
• It's quick. Outgoing external transfers can take up to 3 business days to be processed to your accounts.
• Move money into your Motive account with funds from another financial institution.
• Send money from your Motive account to an account at another financial institution.
• Link up to five (5) Canadian financial institutions.

How to link your accounts

1. Complete the Money Transfer Authorization form (located in our Forms Centre) to provide account information, a void personalized cheque or pre-authorized debit agreement authorization and all account holder(s) authorization.

Please note: Once we have received your signed authorization form and verified your account details, we will verify and activate your accounts. This can take up to five (5) business days.

 How to activate your linked accounts

1. Within 5 business days of receiving your completed authorization form, Motive will set up the external bank account.
2. You will need to contact Motive and confirm the nominal transfers made into your linked bank accounts.
3. Once confirmed, you can start transferring money to and from your linked bank accounts within Motive online banking.

Please note: To remove a linked bank account log in to online banking and go to transfers in the left hand side navigation. Go to "Link External Accounts" and select the Delete link on the account you would like remove. Please note this may take up to 3 business days to complete.

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.

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

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.

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.

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

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

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.

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.

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.

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

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.

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.

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.

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.

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.

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