How Interac e-Transfers work  How your Interac e-Transfer is protected  Always be careful when sending money  Why use Interac e-Transfer  Tracking your Interac e-Transfer  Depositing your funds 

The simple way to send money directly to another person using your online or mobile banking

Interac e-Transfer is a simple, convenient, and secure  way to send and receive money directly from one bank account to another. All you need is access to online or mobile banking through a participating financial institution, and you can send money to anyone with an email address or mobile phone number¹ and a bank account in Canada — without sharing any personal or financial information. It's a great alternative to cheques and cash. 

How Interac e-Transfers work

To send an Interac e-Transfer:

Login to online or mobile banking at a participating financial institution

• Choose Interac e-Transfer within the Transfer/Payment menu options
• Select a recipient by entering an email address and/or mobile phone number
• Fill in the Interac e-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 the instructions to confirm the information and complete the transfer

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How your Interac e-Transfer is protected

When you send money using Interac e-Transfer, your money never actually travels by email or text message. Email and text messages are only used to notify the recipient and to provide instructions on how to deposit the money. Your financial institution and your recipient’s financial institution transfer funds using established and secure banking procedures.

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Always be careful when sending money

An Interac e-Transfer transaction cannot be reversed once the recipient of the funds has deposited the transfer. You must obtain a refund directly from the recipient. You can ask the recipient to send you an Interac e-Transfer for the refund amount.

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Why use Interac e-Transfer?

• It’s a simple, secure way to send and receive money directly to and from your existing bank account
• The money can be accessed immediately after your Interac e-Transfer is accepted
• To send an Interac e-Transfer, all you need is the recipient's email address or mobile phone number¹
  
• Never worry about sharing your personal or financial information with the people you send money to: your address and account information are kept private
• A security question protects your money from being deposited by unintended recipients
• No need to set up new accounts, user ID or passwords — you're already in online banking. Easy!
• An email and/or text message carries the notification only, not your funds.  Your financial institution uses existing payment networks to transfer the money to any financial institution in Canada.

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Tracking your Interac e-Transfer

As a sender - Interac e-Transfer confirmation numbers are saved in your online banking history. In addition, you will receive an email notification and/or text message once the intended recipient has accepted the transfer.

As a recipient - You will receive an email notification and/or text message when the transfer is sent, indicating the amount as well as instructions for depositing the funds.

Depositing your funds

You can deposit your funds by clicking on the link contained in the text message or email notification, or you can type the link contained in the notification into your browser — no matter how you're notified, you can deposit your funds at any computer or mobile device connected to the Internet.