HOW DOES INTERAC E-TRANSFER® WORK?
Both the sender and the recipient need access to their financial institution’s online banking service to send and receive an e-Transfer.
An Interac e-Transfer® can only be made in Canadian funds between accounts in Canadian funds at a Canadian financial institution.
To send money using e-Transfer, the sender does not need to know the recipient’s financial institution or account information; only their email address or mobile phone number. In a matter of minutes, recipients are notified by email or text message when an e-transfer has been sent. Once they accept, the money is transferred to their account.
Money can be transferred person-to-person, person-to-business or business-to-business.
TO SEND AN E-TRANSFER
from your Caisse account you need:
access to e-Caisse*
a Caisse chequing or savings account (in Canadian funds)
the person’s email address or mobile phone number (they need to have a Canadian funds account at a financial institution in Canada)
Step by Step Directions
TO RECEIVE AN E-TRANSFER
in your Caisse account you need:
an email address or mobile phone number
access to e-Caisse*
a Caisse chequing or savings account (in Canadian funds)
* If you do not have access to e-Caisse, visit your branch to set up access.
HOW LONG DOES AN E-TRANSFER TAKE?
Once the e-Transfer is set up (which takes minutes), it takes less than 30 minutes, if not instantly, to send or receive money between accounts.
CHECKING THE STATUS OF E-TRANSFERS
A) To view active e-Transfers
- Log in to e-Caisse
- Click TRANSFERS
- Click INTERAC E-TRANSFER® and select GO
- Choose VIEW/RESEND/CANCEL PENDING TRANSFERS
All active e-Transfers will be displayed.
B) To view completed e-Transfers
- Log in to e-Caisse
- Click TRANSFERS
- Click INTERAC E-TRANSFER® and select GO
- Choose SEARCH TRANSFER HISTORY
All completed e-Transfers will be displayed for up to 2 years.
CANCELLING AN E-TRANSFER
You can cancel an Interac e-Transfer® if the recipient has received notification but has not yet deposited the money. If the money has been deposited in the recipient’s account, the e-Transfer cannot be cancelled or reversed.
To cancel an e-Transfer:
- Log in to e-Caisse
- Click TRANSFERS
- Click INTERAC E-TRANSFER® and select GO
- Choose VIEW/RESEND/CANCEL PENDING TRANSFERS
- Find the e-Transfer you wish to cancel and click on the CANCEL button
- Click CONTINUE
The money will be deposited into the account from which it was withdrawn (minus the fee which is non-refundable).
DECLINING AN E-TRANSFER
The recipient can choose to decline the e-Transfer.
If the e-Transfer is declined, the sender will receive a notification with instructions to reclaim the funds in his/her account (minus the fee which is non-refundable). The sender will need to cancel the e-Transfer by following the steps for Cancelling an e-Transfer above.