Frequently Asked Questions

What is an Interac® e-Transfer?

Interac e-Transfer is a fast, secure and convenient way to send money to anyone in Canada from within the security of your online banking service. It uses email or text messaging for fast notification to the recipient that a transfer has been sent, while the participating financial institutions transfer the funds using established and secure banking procedures.

To send Interac e-Transfer, all you need is an email address, online access to your bank account at a participating financial institution and the email address or mobile phone number of the person that you are sending money to. Email and/or text messages carry the notification while the financial institutions use existing payment networks to transfer the money to any financial institution in Canada.

Who can use Interac e-Transfer?

Any individual or small business owner with an account at a Canadian financial institution that offers the service can initiate an e-Transfer, while anyone with an account at a Canadian financial institution can receive one.

How secure is it to send money by email or text message? 

You are not sending money by email or text message; only the notification travels over the Internet or over the air 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

Is there a charge for sending an Interac e-Transfer?

Fees Rate Information
Receiving an e-Transfer FREE
Sending and e-Transfer Free for Chequing Accounts 

Are there limits on how much can be sent or received?




Per Transaction



24 Hour Limit



7 Day



30 Day



Is there a fee to cancel an Interac e-Transfer?

There are no cancellation fees, however, the sending fee is non-refundable. If you cancel an e-Transfer, your account will be credited with the dollar amount of the transfer minus the sending fee.

Is there a fee to receive an Interac e-Transfer?

It is free to receive an Interac e-Transfer.

What happens when a recipient's financial institution doesn't offer this service?

Recipients can still receive the money by registering with Interac and providing their banking information. The deposit usually takes four to six business days and Interac charges a $4.00 administration fee, which is deducted from the total amount of the transfer.

What if I don't bank online, can I still deposit an Interac e-Transfer?

As of July 1, 2018, there will no longer be an option to deposit Interac e-Transfer transactions offline (without access to online banking). Customers are encouraged deposit Interac e-Transfer transactions via online or mobile banking at one of the participating financial institutions.

Why do text-message notifications come from 100001?

This is the short code from which all Interac e-Transfer text notifications originate.

Can I send an Interac e-Transfer to a landline?

If you also provided an email address, the recipient will be notified by email. Otherwise, you may be informed that the transfer notification could not be delivered and will be directed to either reclaim your transfer or correct the contact information of your recipient.

Can I send an Interac e-Tranfsfer to anyone?

No. In order to send and/or receive Interac e-Transfers, both senders and recipients must have accounts at Canadian financial institutions. The transfer must also be in Canadian dollars.

How long does it take to receive the money?

For recipients, it takes approximately 30 minutes for notifications to be received. As soon as the notification is received, the recipient can deposit the money. As a sender, the money is debited from your account immediately after finalizing the transfer.

What happens if I use an incorrect email address / mobile phone number?

If you have sent an Interac e-Transfer to the wrong email address or mobile number and the funds have not yet been deposited into a bank account, you can log back into your online banking or mobile banking application and edit the email address or mobile number to the correct one. Alternatively, you can cancel the transaction

Can I cancel an Interac e-Transfer?

To cancel an Interac e-Transfer that you have sent, you must log back in to your financial institutions online banking page. From there you can review your transaction or payment history to select the Interac e-Transfer you wish, and use the cancel option provided.

If a transfer hasn't been accepted within 30 days, it will automatically expire and the sender will be notified.What happens if the recipient rejects the transfer?


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