Frequently Asked Questions

Interac Association services are available at any Automated Banking Machine (ABM) or merchant location, as often identified by the Interac logo.

Simply ask a customer service representative at the financial institution where your account is held.

Interac services can be used by anyone who has a deposit account with one of Interac Association's participating member financial institutions. Your financial institution must provide you with a card and associated Personal Identification Number (PIN) so that you can access your accounts. Some financial institutions may have age restrictions and policies on the issuing of debit cards; the individual financial institutions set these policies. Once you have a card you can access your accounts to cover purchases and withdrawals using Interac Association services.

There could be several reasons why your card may not work. If you encounter problems you should contact your financial institution directly.

No, The Interac network was designed using a "distributed architecture" approach. While certain members may experience temporary outages, the whole system will not fail. Interac Association and its members work diligently to ensure that procedures are in place to manage any service interruptions quickly and efficiently.

The Interac Direct Payment service is provided at Canadian merchants Point-of-Sale (POS), often where you see the Interac logo displayed. Interac Direct Payment is a convenient and reliable electronic payment option which allows you to use your debit card to pay for purchases. The service is available to you during the merchants' normal business hours.

The Interac Direct Payment service allows you to access funds directly from your account at the time of the purchase. It is like spending cash, only the money is exchanged electronically. Your account balance is always up to date. It is also useful for shopping or for services where credit cards are not accepted. Best of all, there is no bill at the end of the month. You are able to keep track of your account balance at any time. The service is convenient, fast, safe and reliable, with less risk of loss or theft of cash. It is also faster than writing a cheque.

When you use the Interac Direct Payment service, your account balance is always up to date and you are in control of your spending. Best of all, there is no bill at the end of the month. You are able to keep track of your account balance at any time.

It is simply a case of having your debit card read at the Point-of-Sale terminal and following the prompts displayed on the screen. Once your transaction has been approved, your receipt will be printed for your records.

Yes, you can pay for goods and services on the Internet directly from your bank account using Interac Online. For an Interac Online service demonstration and a complete list of current merchants, please visit www.interaconline.com.

Since it is an online, real-time service, the debit is immediate. This means that the required funds must be available in your account at the time of purchase.

Unlike a credit card, you can't spend what you don't have. You can only spend what is already in your account. Since the debit is immediate, your account balance is always up to date.

Yes. The Interac Direct Payment service allows you to pay for purchases directly from your deposit account at any participating merchant location, regardless of their financial institution.

You can use Interac Direct Payment at any participating merchant across Canada; from convenience stores to specialty clothing shops to gas stations. Look for the Interac logo or simply ask the merchant if they provide this payment option.

Yes, you can use Interac Direct Payment wherever you see the Interac logo, or simply ask the merchant if they provide this payment option.

The Interac Direct Payment service is only available in Canada. However, your financial institution may participate in one or more international arrangements that allow you to use your card at Automated Banking Machines and merchant locations outside of Canada. Some financial institutions participate in the Cross Border Debit service that allows their cardholders to make purchases at merchant locations in the US, where payments are processed through the NYCE network.

Interac Association manages the Inter-Member Network, which processes transactions between members. Members are connected to each other through the Inter-Member Network.

Yes, glitches may occur from time to time; however, the services provided by Interac Association members meet the highest standards for reliability, confidentiality and user friendliness. Interac Association and its members work diligently to ensure that procedures are in place to manage any service issues quickly and efficiently. Canadians' overwhelming usage of Interac services is a testament to their reliability and confidence in the services.

Interac Flash is a contactless enhancement of Interac Direct Payment, providing shoppers with a fast and convenient way to pay for everyday purchases, since you don't have to insert your card or enter a PIN.

Your Interac chip debit card will continue to carry out standard chip debit transactions, as it does today, but through the use of a dual-interface microchip, the functionality of the debit card has been enhanced to provide you with the ability to carry out contactless transactions that do not require the card to be inserted into the terminal or a PIN to be entered.

Simply flash your debit card in front of the reader and the purchase will automatically be debited from your account. If the transaction is above the set dollar limit, you will be asked to insert the card and enter your PIN to conduct a chip debit transaction.

Interac Flash enabled debit cards will begin to become available in 2011. Interac Flash is an enhancement of Interac Direct Payment that will be made available on your chip debit card, if you choose, and if your financial institution offers Interac Flash.

If you would like to find out if your financial institution is rolling out Interac Flash, please contact them directly for more information.

Cashback allows you to make a purchase and also receive cash, all in one transaction. Merchants who offer the Interac Direct Payment service have the option of offering "cashback" which allows you to request additional cash to be debited from your account. For example, you may make a purchase for $15 and tell the merchant you want an additional $40 from your account. You receive your $15 purchase along with the $40 in cash, for a total transaction amount of $55.

The Interac Shared Cash Dispensing service is a convenient way to withdraw cash from your account at an Automated Banking Machine (ABM) displaying the Interac logo, and not owned by your financial institution. Since the service is available 24 hours a day, you do not need to worry about what hours a branch is open, and you also do not have to search for an ABM belonging to your own financial institution.

The Shared Cash Dispensing service allows you to withdraw cash from your account at an Automated Banking Machine (ABM). The Shared Cash Dispensing service does not offer bill payments or deposits. ABMs belonging to your own financial institution provide options such as bill payments or deposits.

Each member of Interac Association administers its own Automated Banking Machine (ABM) network. This means that, should you have any questions or concerns about an ABM transaction, you need to speak to your financial institution directly. Interac Association manages the Inter-Member Network, which processes all Interac Shared Cash transactions.

Yes. You can use the Shared Cash Dispensing service anywhere you see the Interac logo on an Automated Banking Machine.

The Shared Cash Dispensing service is only available in Canada. However, your financial institution may have an affiliation with an international Automated Banking Machine (ABM) network that allows you to use your card to access your account at participating ABMs around the world. It is a good idea to contact your financial institution directly, before you travel.

No. Your financial institution does not release confidential or private information.

The Shared Cash Dispensing service is safe and secure. Security of the service is ensured by the use of your card and confidential Personal Identification Number. Adherence to strict Canadian and international security standards are required by all participating members.

A card cannot be used to withdraw cash at an Automated Banking Machine without the associated Personal Identification Number. This ensures the security of funds when a card is lost, stolen, or illegally copied. However, you do need to report lost or stolen cards to your financial institution immediately to avoid any possible liability.

Although they are of great concern to the providers of Shared Cash Dispensing service, such incidents are rare in Canada. However, if you feel your personal safety is at risk do not use that Automated Banking Machine. As with any robbery, personal safety must come first and you should always report the incident to police and your financial institution.

Each card-issuing member may set transaction fees, and the terminal operator may set surcharge fees for using Interac services. These fees may relate to the cost of accessing your account, processing the transaction, and installing and maintaining the terminal. Interac Association does not charge fees to consumers, and does not set the fees charged by its members.

Interac Association maintains strict rules to ensure that surcharges are properly disclosed on the ABM or terminal screen. You're always presented with a screen indicating the surcharge fee amount. The transaction will only proceed if you accept the disclosed surcharge amount.

A chip debit card contains an embedded computer chip, providing increased protection against debit card skimming and the creation of counterfeit debit cards. In addition to providing increased security, the chip card also offers a platform for new product and service offerings.

The movement to chip card technology is part of Interac Association's long-term commitment to providing secure and innovative services. Chip technology is a new generation of payment card technology that will make it virtually impossible for fraudsters to duplicate.

In addition to providing enhanced security, the chip card also offers a platform for new products and services, such as stored value, small ticket payments, loyalty programs, and much more.

Yes, however the specific timetable for the introduction of chip debit cards will vary from one financial institution to another.

Interac Association has set deadlines for the conversion to chip technology. Magnetic stripe technology will no longer be accepted for Interac branded cards at Automated Banking Machines after December 31, 2012 and at retail terminals after December 31, 2015. Given the vast number of cards and devices that must be converted, this timeline will help to ensure a smooth transition for all participants.

The first chip transactions occurred throughout 2008 as part of a market trial in Kitchener-Waterloo, Ontario, in collaboration with the major credit card companies and other industry partners.

While the complete migration to chip technology will take several years, given the vast number of Automated Banking Machines, retail terminals and debit cards across Canada that must be converted, the majority of Canadians will be able to fully benefit from this new technology by 2010.

Every financial institution has their own timetable to provide new cards to their customers. Chip terminals will recognize both chip and magnetic stripe cards throughout the transition period, so you will be able to continue to use your magnetic stripe card where chip terminals are not yet available.

Yes. Canadian chip cards will work in countries that utilize chip technology. You will still be able to use your chip debit card in countries that have not yet migrated to chip technology, as your card will contain both a chip and magnetic stripe

The complete migration to chip technology will take several years, given the vast number of Automated Banking Machines, retail terminals and debit cards across Canada that must be converted; the majority of Canadians will be able to fully benefit from this new technology by 2010.

Complete conversion of chip debit cards will be completed by 2015.

Yes. Chip-enabled Automated Banking Machines and retail terminals will still require that you enter your PIN just as you do today. The PIN remains a key security element of the transaction.

You will experience only a minor change in the way you interact with the retail terminal. When conducting a chip debit transaction, you will no longer swipe the card through the machine. Instead, you will insert your debit card chip first, and leave it in the terminal for the duration of the transaction. You will then have to follow the prompts just as you do today.

Magnetic stripe technology continues to be a safe form of electronic payment; in fact 99.99 per cent of all transactions are processed over the Interac network without incident.

The migration to chip card technology represents an evolution of the electronic payments system designed to make an already safe payments system even more secure.

A chip is a mini computer, which will give the card the ability to store and process data securely. Unlike a magnetic stripe, this processing power makes it extremely difficult to copy and reproduce cards and card information.

Secondly, this processing power is used, together with cryptography (series of mathematical algorithms), to allow the card and terminal to communicate with one another and carry out security checks to ensure the card is valid.

Chip technology is based on a global standard known as EMV, a proven technology currently in wide use around the world.

Interac Association requires financial institutions to store the same type of information on the chip that is currently stored on the magnetic stripe today — which is payment related information that will allow the debit transaction to be authorized and processed e.g. the debit card number or the financial institution code.

While the information is the same, it will now be stored within the chip, which is virtually impossible to duplicate because each chip is personalized with data unique to the financial institution.

The financial institution that issues the card owns the chip containing the data, so you should contact your financial institution directly for more information about your chip card.

The Canadian payment industry has chosen to transition the payments system to chip card technology, which is based on a global industry standard known as EMV, a proven technology currently in use around the world.

The EMV standard enables interoperability worldwide and offers a platform for security and service innovation that financial institutions can leverage. Once financial institutions have invested into this dynamic framework, they can continue to layer on security features in the future.

With chip cards, merchants do not have access to any other data than what they have today with a magnetic stripe card.

The only information that merchants are allowed to store is the basic transaction data, such as the time, date, purchase amount and debit card number. This basic information is necessary in the event that a cardholder requests a trace.

The only information stored from the debit card itself is the debit card number, which alone is not sufficient enough to create a counterfeit card.

EMV is the standard for interoperation used for authenticating credit and debit card payments at chip enabled terminals. The EMV specifications were collectively developed by Europay, MasterCard and Visa for payment systems, in order to ensure that chip cards function with chip terminals.

Cryptography is the art or science of keeping messages secret and/or secure using a mathematical algorithm with the purpose of encrypting data. Chip cards can use cryptography to keep card information secret.

Yes, Chip is an extremely safe and secure technology. It is important to emphasize that the researchers did not compromise the Chip card. The PIN remained secure inside the Chip. As well, no counterfeit cards were created. This simulated man-in-the-middle attack was carried out with a card that would need to be stolen from a cardholder and not reported lost, and a device to deceive the point-of-sale (POS) terminal.

In general, the risk of such an attack is extremely low. The attack requires:

• A stolen card that has yet to be reported stolen by the cardholder.
• The fraud to be carried out one card at a time and likely in a short window of time, and with equipment that could easily be detected.
• Offline Funds Authorization, which in Canada is currently not permitted, further minimizing risk.

An Interac Email Money Transfer is a fast and convenient way to transfer funds to anyone with an email address from within the security of your online banking service. It's a great alternative to cheques and cash. It uses email for fast notification to the recipient that a transfer has been initiated, while the participating financial institutions transfer the funds using established and secure banking procedures.

When someone sends you an Interac Email Money Transfer, an email notification announcing the transfer will be emailed to you. The message includes links and instructions explaining how to deposit the transfer into your bank account.

The fastest way to get your money is through online banking. Simply click the link in the email notice, select your financial institution, login to online banking and deposit the money into the account of your choice. Receiving a transfer via online banking is free.

If your financial institution does not yet offer the Interac Email Money Transfer service, or if you don't bank online, you can still receive transfers to any Canadian personal bank account. You will be required to register and provide your banking information in order for the money to be deposited into your account. The deposit usually takes 3-5 business days to process and a $4.00 fee will be deducted from the deposit amount.

See our Interac Email Money Transfer demo

All you need is an email address, access to online banking at a participating financial institution, and the email address of the person you are sending money to.

To send an Interac Email Money Transfer:

• Login to online banking
• Locate Transfer/Payment menu options
• Specify a recipient by entering their email address
• Fill in the Interac Email Money Transfer information (dollar amount, account from which to withdraw the funds, a security question that only the recipient will know the answer to and optional personal message)
• Follow instructions to confirm the information and complete the transfer

See our Interac Email Money Transfer demo

To send an Interac Email Money Transfer, you need access to online banking at a participating financial institution.

If you have not yet registered for online banking, each participating financial institution makes it easy to get started. Contact your financial institution or visit their online banking website to sign up.

If your financial institution does not yet offer the Interac Email Money Transfer service, or if you don't bank online, you can still receive transfers to any Canadian personal bank account. You will need to register and provide your banking information in order for the money to be deposited into your bank account. The deposit usually takes 3-5 business days to process and a $4.00 fee will be deducted from the deposit amount.

If your financial institution does not yet offer the Interac Email Money Transfer service, or if you don't bank online, you can still receive transfers to any Canadian personal bank account. You will need to register and provide your banking information in order for the money to be deposited into your bank account. The deposit usually takes 3-5 business days to process and a $4.00 fee will be deducted from the deposit amount.

Yes. Canadian financial institutions know that people value the ability to send transfers to anyone quickly and easily. Watch for upcoming announcements or contact your financial institution to find out when they will be offering Interac Email Money Transfers.

Sending: There may be a fee from your financial institution for sending an Interac Email Money Transfer, so check with your financial institution.

Receiving: There is no fee for receiving an Interac Email Money Transfer through online banking.

However, if your financial institution does not yet offer the Interac Email Money Transfer service, or if you don't bank online, you can still receive transfers to any Canadian personal bank account. You will need to register and provide your banking information in order for the money to be deposited into your bank account. The deposit usually takes 3-5 business days to process and a $4.00 fee will be deducted from the deposit amount.

Actually, you are not sending money by email; only the notification travels over the Internet to advise the recipient that the transfer has been initiated and to provide instructions on how to deposit the money. The money always resides safely at a financial institution, and is transferred through existing payment networks that financial institutions have used for years to settle cheques, bank machine deposits and withdrawals.

Security measures have been built into the system, including:

• Encryption technology
• Confidential user IDs and passwords issued by financial institutions
• Secure login process
• A security question and answer to ensure only the intended recipient receives the money
• 128-bit browser encryption

You will receive an email notification shortly after someone sends you a transfer. The fastest way to get your money is to use online banking. Simply click the link in the email notice, select your financial institution, login to online banking and deposit the money into the account of your choice. In most cases, your money is available immediately, but be sure to check with your financial institution for any conditions that may apply.

No. While it is possible to pay for things using any of these Interac-branded services, Interac Email Money Transfer is different from paying by Interac Direct Payment or Interac Online because it is not a payment service like the others. Rather, it is a way to electronically transfer money from one party to another.

As such, the service has some of the advantages and disadvantages of paying with cash.

Like using cash, you should send money transfers only to parties you know and trust. For most uses of the Interac Email Money Transfer service (sending money to family and friends, repaying IOUs, sending monetary gifts, etc.), you know the recipient well. For uses where you may not know the receiver well (e.g., online auction purchases), take the usual precautions you would take when making cash purchases. For auctions, be sure to read and follow steps as recommended by operators of these websites to protect your money.

Like most other financial transactions, there are limits on the amount you can send and receive.

If you are sending or receiving through online banking, those limits are set by the financial institution involved. Please contact your financial institution if you need to know what your limits are.

If you are not using online banking to receive a transfer, you can deposit a maximum of $1,000 per 24 hour period. This limit is in place to allow us to comply with government regulations. If this limit is a problem for you, consider banking online with one of our participating financial institutions, where the limit will be much higher (and where depositing an Interac Email Money Transfer is free).

Some of our participating financial institutions have enabled the Interac Email Money Transfer service for their small business online banking customers. If you bank online at one of these institutions, you can send transfers to people or other small businesses; and you can deposit transfers from other people or other small businesses.

Note, however, that small business customers can only deposit transfers if they bank online at one of the participating financial institutions that has enabled Interac Email Money Transfer service for small businesses.

There have been instances of employment recruitment scams in which Canadian job hunters are hired as agents for "foreign companies". In fact, the job hunters may actually end up being used as "mules" to transfer stolen funds outside of Canada. Anyone who participates, even unknowingly, could be deemed an accomplice to a crime and may be prosecuted. We urge you to fully investigate any such job offers.

How do some of these email money transfer business scams work?

In the typical scenario, the "employer", very often a foreign-based company, poses as a legitimate company looking on job recruitment websites for an agent to represent the company in Canada. The job is to accept payments from Canadian customers on behalf of the foreign company, and then transfer a portion of the proceeds offshore. The employer indicates that a key qualification for the position is that employees must be online banking customers, able to receive funds electronically, using Interac Email Money Transfer.

Once the employee receives the funds in his/her account, he/she is given instructions to transfer the money via a funds wire transfer service to a foreign address. As compensation, the employee or "transfer agent" is paid a percentage of the funds received and transferred. This is often a front for an illegal operation and the unwitting employee may be prosecuted for his or her part in this scheme.

Email money transfer business scams come in a variety of versions. For your reference, click here for a sample of a fraudulent email letter claiming to be from Interac Association.

How can I tell if this job offer is part of a scam operation? The information I am receiving looks very professional.

In order to appear authentic, fraudsters may present employment agreements, websites and other types of information, for example, a detailed contract, outline of employee job responsibilities, compensation, etc. While, these websites and employment agreements may present an appearance of a legitimacy, spelling errors or the use of odd wording may be a sign that the operation is not a legitimate one.

Tips to Protect Yourself

Offers of easy money are often too good to be true. A web-based job that requires you to move funds outside Canada could be a front for an illegal operation. While the opportunity may look appealing, you may end up being subject to criminal prosecution for your role in the operation.

Check any employment-related information for unusual phrasing and look for misspelled words.

If you are suspicious, check with local law enforcement.

Stay aware by checking the following sources of information about fraud:
• www.phonebusters.com
• www.rcmp-grc.gc.ca
• www.recol.ca (Reporting Economic Crime Online)
• www.fcac.gc.ca (Financial Consumer Agency of Canada)
• www.strategis.gc.ca (Industry Canada)

Phishing is a scam where fraudsters attempt to acquire personal and/or financial information, such as passwords, card numbers, etc., by masquerading as a trustworthy person or business through electronic communications. Phishing is typically carried out using email or an instant message, although phone contact has been used as well.

In some instances, the fraudster sends authentic-looking emails, appearing to come from legitimate companies, requesting recipients to disclose personal and/or financial information that is later used to commit fraud.

Be suspicious if you receive an email notice for an Interac Email Money Transfer that you were not expecting. If in doubt, contact the sender to ensure he or she has initiated a legitimate transfer.

Phishing scams come in a variety of versions. Click here for an example of one common format.

The Interac Online service is a payment option that allows you to pay for goods and services on the Internet directly from your bank account. It is secure and easy to use.

The Interac Online service is secure and easy to use because it works with your existing online banking service.

1. Shop for goods and services at a participating online merchant.
2. Select the Interac Online option when you are ready to pay and you will be provided with a list of participating financial institutions.
3. Select the financial institution that you want to pay from (note: you need to be registered for online banking).
4. Login to online banking with your usual login ID and password.
5. Choose an account to pay from.
6. Confirm the payment - you will be automatically directed back to the merchant website and shown your confirmation page.
7. Print or keep a record of your confirmation page.
8. You are done!

To see a demo of how Interac Online works click here.

Yes, the Interac Online service is very secure. Here's why:

• You do not need to provide any financial information, card numbers or login information to the online merchant or any third party; no sensitive information is shared
• You use your existing online banking service with your usual User ID and password
• The payment is completed through the financial institution you know and trust

The Interac Online service provides you with the following benefits:

• Privacy: none of your financial details, card numbers or login information are shared with the online merchant or a third party
• Ease of use: because the payment is conducted through online banking, you don't need to sign up or create any new passwords or accounts
• Security: the payment is completed through the financial institution you know and trust
• Spending Control: The Interac Online service helps you better manage your finances you pay immediately using available funds from your bank account, unlike credit where you owe later.

Anybody who shops online at one of these merchants and is registered for online banking at any of these financial institutions can use the Interac Online service.

No need to sign up; you just need access to online banking at one of the participating financial institutions.

It is up to each online merchant to decide which payment options it wants to offer its customers. The Interac Online service is available to all online merchants that do business in Canada. Click here for a list of the online merchants that offer the Interac Online service.

Please contact your financial institution to inquire about your limits.

Merchants that offer the Interac Online payment option range from retail establishments and organizations to government outlets and charities.

Click here to see a list of online merchants that offer the Interac Online payment option. We are continually activating new merchants so check back soon.

Click here to see a list of financial institutions that offer the Interac Online service

Your Interac Online payment is handled by your financial institution, so fees, if any, would be levied by your financial institution. Contact your financial institution to inquire about any fees applicable to your Interac Online payment.

It is easy to get access to online banking. Contact your financial institution or visit their website to inquire about signing up. Click here for a list of financial institutions that offer the Interac Online service.

Yes, you can use the Interac Online service on any computer where you can access the Internet and your financial institution's online banking service. Check with your financial institution for advice on how to safely bank online when using a public computer.

Click here to see a list of financial institutions that offer the Interac Online service.

If you have questions or concerns about the goods or services that you have purchased using the Interac Online service, (e.g. about delivery time, shipping options, product information etc.) please contact the online merchant. If you have questions or concerns about your Interac Online payment (e.g. fees, limits, your account, processing times etc.) that cannot be answered by the online merchant, please contact your financial institution.

In a proven case of online fraud, you are protected by the 'Customer Services Rules', which ensure that your funds are returned to your bank account by your financial institution. More information about consumer protection is outlined in the Customer Commitment section.

If you reach the confirmation screen, and receive a confirmation number, you can be sure your payment was completed. If you confirmed your payment in online banking, but did not get redirected to a confirmation page on the merchant website, then there was a technical problem.

One of two things may have happened:

• a) The merchant received your payment, but for some reason you were
  unable to see the confirmation page.
• b) The merchant was not able to receive your payment.

You can often determine that it was case (a) if the merchant sends you a confirmation email, or allows you to check your order history on their website. In case (b), the funds will be (in most cases) re-credited to your bank account within minutes.

If you are uncertain, contact the merchant to ask whether your order has been processed.

It is important that you check each merchant's return/refund policy prior to making your purchase. Some merchants will process a refund where the funds are credited back to your bank account.

In a proven case of online fraud, you are protected by the 'Customer Services Rules', which ensure that your funds are returned to your bank account by your Financial Institution. These 'Rules' are based on the reputable Canadian Code of Practice for Consumer Protection in Electronic Commerce. While we work with all stakeholders, as well as security experts, to maintain the ongoing security of our services, there are actions that you can take as well. You are encouraged to regularly check your bank statements to verify that all transactions have been properly documented. If entries do not accurately reflect transaction activities - for example, if there are missing or additional transactions you should immediately contact your financial institution.

Click here to find out more about protecting yourself against online fraud and phishing.

The Code of Practice was developed through consultation with the Electronic Funds Transfer Working Group, a group made up of representatives from consumer organizations, financial institutions, retailers, and federal and provincial governments. Interac Association has provided input into this Code.