Send or receive money in a snap with Interac e-Transfer, All you need is an email address and an account at a participating 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; all account details are kept confidential.
Yes, like most other financial institutions there are limits on the amount that you can send or receive.
The receiving limit in one transaction is $25,000. We have removed the daily, weekly and monthly receiving limits.
Sending - up to $3,000 per day
Sending - up to $10,000 per week
Sending - up to $20,000 per month
There is a fee of $1.00 for sending an e-Transfer.
There is no fee for receiving an e-Transfer.
For recipients, it takes approximately 30 minutes for notificaions to be received. As soon as the notification is recieved, the recipient can deposit the money. As a sender, the money is debited from your account immediately after finalizing the transfer.
You can cancel the transfer anytime until the recipient accepts it. Generally, it takes 30 minutes for notifications to be sent to the recipient. To cancel a transfer, click 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 pending transaction or let Interac cancel the transaction. Money will be returned to the sender within seven days of cancelling the transaction, however, fees charged at the time of sending the transfer are 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.
Saving history:
1. Login to your online banking.
2. Select "Transfers" on the lefthand side.
3. Select "Send via INTERAC E-Transfer."
4. Select "History" at the top on the far right.
5. Select the date range you want the history for and click continue.
6. Screenshot or print this information.
Saving recipient email addresses:
1. Login to your online banking.
2. Select "Transfers" on the lefthand side.
3. Select "Add/Delete Recipients."
4. Screenshot, print or record this information.
