Interac e-transfer Frequently Asked Questions

  1. What is Interac e-transfer?
  2. Which banks will allow me to make a deposit via Interac e-transfer?
  3. I don’t have a bank account with these banks?
  4. Do I need to setup any account with Interac e-transfer to proceed?
  5. How do I fund my account using Interac e-transfer?
  6. What are the available currencies for making a deposit via Interac e- transfer?
  7. Are there any fees associated with Interac e-transfer Deposit?
  8. How long does it take to receive the money transferred into my account?
  9. How can I check on the status of my deposit?
  10. Can I withdraw to Interac e-transfer?
  11. How do I withdraw account using Interac e-transfer?
  12. What is the average withdrawal processing time for Interac e-Transfer?
  13. Are there any fees associated with Interac e-transfer withdrawals?

1. What is Interac e-transfer?

Interac e-transfer is an email based online banking facility in Canada. It is quick, secure and simple solution to process payments on the internet.

2. Which banks will allow me to make a deposit via Interac e-transfer?

Please Click here for a complete list.

3. I don’t have a bank account with these banks?

Unfortunately, you cannot make a deposit unless you have a bank account with one of these banks.

4. Do I need to setup any account with Interac e-transfer to proceed?

No, only a bank account with online banking is required. There is no need to setup any account with interac e-transfer.

5. How do I fund my account using Interac e-transfer?

  1. Log in to your account.
  2. Go to the 'Cashier' tab and select 'Deposit'.
  3. You will now see the Interac e-transfer logo. To select this deposit option simply click on the icon.
  4. Enter or select your deposit amount and bonus code (if applicable), then click on 'Deposit'.
  5. You will be redirected to Interac e-transfer page where you can see all the instructions required to complete the transaction. Make note of the Recipient email Id and the Message/Tracking Id required to complete the payment.
  6. Login to your online banking.
  7. Select interac e-transfer and follow the instructions to complete the payment.

6. What are the available currencies for making a deposit via Interac e- transfer?

CAD.

7. Are there any fees associated with Interac e-transfer Deposit?

No, we do not charge any fees for Interac e-transfer deposits.

8. How long does it take to receive the money transferred into my account?

Once you complete the payment in your online banking page, money will be transferred to your account instantly or at times it make take upto 15 minutes depending upon your bank.

9. How can I check on the status of my deposit?

You can check the status of your deposit here.

10. Can I withdraw to Interac e-transfer?

Interac e-transfer is also available as a withdrawal option.

11. How do I withdraw account using Interac e-transfer?

  1. Log in to your account.
  2. Go to the 'Cashier' tab and select ‘Withdraw’.
  3. You will now see the Interac e-transfer logo. To select this withdrawal option simply click on the icon.
  4. Enter the amount and then click on ‘Withdraw’.
  5. When the withdrawal is approved and processed, you would receive an email and SMS with instructions to accept the transfer.
  6. Login to your online banking portal and follow the instructions to accept the transfer.
  7. Funds would be credited to your bank account within 1-3 business days.

12. What is the average withdrawal processing time for Interac e-Transfer?

All withdrawals are first approved by our internal review team, which takes approximately up to two business days. Once we have processed your withdrawal, it will take 8 hours for the funds to appear in your bank account.

13. Are there any fees associated with Interac e-transfer withdrawals?

No, we do not charge any fees for Interac e-transfer withdrawals.