Self-described as "the smart, secure way to send your own money," Interac e-Transfer is a funds transfer service between personal and business accounts at participating Canadian banks and other financial institutions, offered through Interac Corporation.

We've included their most frequently asked questions below, and a short video for those that don't have time to read.


❓ Frequently Asked Questions (FAQs)

Q: What is Interac e-Transfer?

A: 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.

Q: Help, I sent money via an Interac e-Transfer and I need to speak with someone. Who do I contact?

A: Please contact your bank or credit union to troubleshoot any transactions in progress. The contact information is usually on the back of your Interac debit card.

Q: How do I send money via Interac e-Transfer?

A: Exact steps vary by individual bank or credit union, but the process will always be simple. Just log into your online bank account, navigate to the Interac e-Transfer section and follow the instructions.

Q: How do I cancel an Interac e-Transfer transaction?

A: To cancel a transfer, log into your online bank account. Go to the transaction or payment history and select the Interac e-Transfer transaction you wish to cancel. Use the cancel option provided. This process varies by financial institution, who may also charge a cancellation fee. Contact your bank or credit union for more information.

Q: How secure is it to send money by email or text message through Interac e-Transfer?

A: You are not sending money by email or text message: 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 banks and credit unions 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

Q: How much does it cost to send money via Interac e-Transfer?

A: There may be a fee from your financial institution for using the Interac e-Transfer service. Please check with your bank or credit union directly.

Q: Are there limits on the amount I can send?

A: Like most financial transactions, there are limits on the amount you can send. Each financial institution sets their own, but it typically sits at around $1,000. Please contact your bank or credit union for details.


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