How to Receive Money with INTERAC e-Transfer (2024)

FAQs

How to Receive Money with INTERAC e-Transfer? ›

You can receive an Interac e-Transfer by email or SMS text message. To deposit the money, select the link in the email or text message notification you receive from Interac and follow the instructions.

You can receive an Interac e-Transfer by email or SMS text message. To deposit the money, select the link in the email or text message notification you receive from Interac and follow the instructions.

Skip the security question and have Interac e-Transfer funds automatically deposited into your account. Sign on to Online Banking or the Mobile Banking App. 2. Select “Interac e-Transfer,” then select “Autodeposit Settings.”

All you need to send or receive an e-transfer is an account with a participating bank or credit union, online account access, and an email address or mobile phone number.

Interac e-Transfers are only available in Canada for individuals who have Interac-partnered bank accounts (most of them). So, no you cannot use Interac e-Transfer in the U.S. That being said, Interac does have a collaboration with Mastercard and Western Union to allow Canadians to send International Transfers.

Interac Debit is made to be a simple, secure, and easy way to pay for your everyday purchases, and is accepted across Canada and approximately 2 million retailers in the United States.

Select the financial institution you would like to deposit the funds into. Once you select the financial institution, you will be prompted to sign into your online banking. Click “Accept INTERAC e-Transfer”. Correctly answer the security question set up by the sender.

You can transfer money to people who do not bank online with a participating financial institution. However, they may be charged an additional service fee.

The use of the security question and answer acts as an additional security measure to validate that only the sender's intended recipient can collect the Interac e-Transfer(s). The sender sets the question when they send the transfer. The question is something only the intended recipient can answer.

What to do when someone sends you an e-transfer? ›

If you receive an Interac e-Transfer text or email you weren't expecting, confirm with the sender via another channel. If the email or text comes from someone you don't know, or you suspect it to be fraudulent, don't respond or click any links. Forward the email right away to phishing@interac.ca.

After completing the deposit from your sending bank, you should receive either: 1. An email in your inbox (to the email address registered with your sending bank) that contains your 8-12 alphanumeric Interac reference number (beginning with CA or C1).

When sending a domestic bank wire, you will need to provide the recipient's name, address, bank account number, and ABA number (routing number).

Interac e-Transfer is a fast, secure and convenient way to send money to anyone in Canada using online banking. The participating bank or credit union transfers the funds using established and secure banking procedures. Transfers are almost instant, but can take up to 30 minutes depending on your bank or credit union.

If the recipient has not deposited the funds, you can resend the notice by clicking Resend Notice beside the transfer status on the Pending Interac e-Transfers page. The transaction will expire after 30 days from the date sent and notification will be sent to the sender.

How do I reverse an Interac e-Transfer transaction? Unfortunately, once a deposit has been made there is no way to reverse the transaction. You'll have to make arrangements directly with the recipient. You should only send money transfers to parties you know and trust.

You can't use Zelle in Canada - it's for payments between US based banks only. Use this handy guide as a way to find alternative providers to make convenient, low cost, online and mobile payments to Canada.

Send money internationally

No problem – we've collaborated with Mastercard^® and Western Union^® so that you can send money around the world*. Whether it's this month's rent or your share of a dinner bill, send money directly and securely from your bank account with Interac e-Transfer.

For PayPal, the only way to load your balance is from a bank account. With the others, you can also do Interac e-Transfers and get direct deposits.