About Interac e-Transfer®

Interac e-Transfer® is a simple, convenient, and fast way to send and receive money directly from one bank account to another. All you need is access to online banking and you can send money to anyone with an email address or mobile phone number and a bank/credit union account in Canada – without sharing any personal or financial information.

It’s easy. Send and receive e-Transfers in minutes. And keeping track of your e-Transfer® transactions is easy with the new Interac e-Transfer® Descriptor feature! When you send or receive an e-Transfer, the name of the recipient or sender displays in the transaction description in your account activity and on your statement.

It’s convenient. You can use a computer or mobile phone to send or receive e-Transfers by text or email (only the notification travels electronically). You don’t need to know the recipient’s bank information, and they never see yours. All that is exchanged is contact details and a security question the sender creates to claim the funds. The funds remain within the financial institution and are transferred through the same channels used for clearing cheques and processing ATM and POS transactions.

It’s quick. e-Transfers are almost instantaneous – recipients are notified within approximately 30 minutes of the sender initiating the transfer to claim/deposit the funds electronically.

Please note the following:

  • Daily, weekly and monthly limits apply.
  • Fees apply which are non-refundable. See our Service Fees.
  • The member is responsible for any unauthorized use and must ensure the service is only used on protected channels.
Updated on May 1, 2020

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