Interac e-Transfer®


Interac e-Transfer® offers you the convenience of texting or emailing money to friends and family almost instantly. It's the perfect solution if you need to split a bill in a restaurant, pay your portion of the rent or bills, send birthday cash to someone special, or pay for services such as babysitting or housekeeping.


Interac e-Transfer®

How can you benefit?

  • You can make or receive a transfer from anywhere, at any time using your computer or smartphone.
  • Using Interac e-Transfer® is easy! Just sign into your online banking and click on 'Transfers'. All you need is your recipient's email address or mobile phone number.
  • It's fast. No more stops at the ATM or waiting for cheques to be cashed... the money leaves your account immediately and your recipient can receive the funds just a short time later.
  • It's affordable. Interac e-Transfers® cost less than bank drafts or money orders.
  • It's secure. Email or text is used for communication purposes but your funds are contained in our secure banking network. No account numbers or other financial institution information is required and a security question that YOU choose protects your funds from being received by the wrong person.

FOR MORE DETAILED INFORMATION, KEEP READING
Please be fully aware when using ANY online banking services, only one individual is necessary to complete transactions, even in cases where there are two or more signatures required on an account.

Please review the MemberDirect® Services Agreement for clarification and/or more information. It is the Depositor's responsibility to know and understand the MemberDirect® Services Agreement.

Why Choose Interac e-Transfer®?

It's Convenient and Simple to Use:
  • All you need is your recipient's email address or mobile phone number.
  • You can also transfer money to your other Canadian Financial Institution accounts.
  • Make or receive a transfer from anywhere, at any time using your computer or smartphone - Internet Banking is available 24 hours a day, 7 days a week!
It Saves Time and Money:
  • No need to wait for the transfer to be approved - your recipient can access funds quickly.
  • No more stops at the ATM or waiting for cheques to be cashed.
  • Lower cost than bank drafts or money orders.
It's Secure:
  • Your personal information is secure - email or text is used for communication purposes but your funds are contained in our secure banking network.
  • No account numbers or other financial institution information is required.
  • A security question of your choosing protects your funds from being received by the wrong person.

How do you send an Interac e-Transfer®?

Just follow these simple steps:

  1. Log into your Credit Union Internet Banking and navigate to the 'Transfers' screen.
  2. Set up your sender profile and add your recipient - make sure to create a security question that only your recipient knows the answer to.
  3. Choose how to notify your recipient, the amount you wish to send and which account the funds will be transferred from. You can also choose to send a special message or memo to your recipient.
  4. Send! The funds are debited from your account immediately.
  5. Your recipient will receive notification that you have sent them an Interac e-Transfer®, and will follow the links provided in the email or text message to deposit the funds.
  6. Once they have answered the security question correctly, they can deposit the funds immediately - no holds, no hassle!

For more detailed help on using Interac e-Transfers®, take a look at these short, helpful How-To Videos:

What are the limits and fees for sending an e-Transfer?

 e-Transfer Limits

Per Transaction $3,000
Per Week $10,000
Per Month $20,000

* A non-refundable fee of $1.50 will be charged for sending an Interac e-Transfer®.

FAQs

Here are some questions you might have. To find answers to these questions and more, check out the Interac e-Transfer® webpage.
  1. How long will it take to receive the money in my bank account?
  2. How secure is it to send money by email or text message?
  3. Are there limits on the amount I can send?
  4. How do a I deposit an Interac e-Transfer†?
  5. Do I need to bank online?
  6. Can I deposit an Interac e-Transfer into a bank account in another country?

For help with e-Transfers, give us a call at one of our branch locations, complete an online contact form, or email us.

For more information, visit the Interac e-Transfer® webpage. A list of participating financial institutions can be found here.

 

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