INTERAC® e-Transfer is an easy, convenient and secure way to send and receive money in Canada. All you need is access to online banking, and you can send money to anyone with an email address. It's a great alternative to cheques and cash.
Receiving an e-Transfer: free
Sending an e-Transfer: $1.50
The first time you send or receive an INTERAC® e-Transfer, you will be prompted to set up a profile consisting of your name and email address. This is the information that will be used by INTERAC® to complete your e-Transfers. At any time, you can update this information by simply clicking on Edit Sender Profile.
How to receive an INTERAC® e-Transfer:
When you receive an INTERAC e-Transfer email from someone, you can deposit the funds by clicking on the link in the email.
Choose "at a credit union:" and select "Ontario" and then choose "Estonian Credit Union"
Click on “Deposit”, and sign in with your Online Banking credentials
Answer the security question provided by the sender
(if you don’t know it, contact the sender)
Select the account to deposit your money into
(if you do not see an account, please call us)
Before you complete the deposit, you can add a message for the sender
How to send an INTERAC® e-Transfer:
Sign in to Online Banking and click on "eTransfers"
Enter the amount of money you want to send and the account to withdraw from
(if you do not see an account, please call us)
Select the recipient from your recipients list (or add a new recipient)
You can enter a short message for the recipient
This message should not contain the answer to the security question
Click Continue to complete the transaction
The recipient will receive an email notification within 30 minutes
- You will need to set up a security question. The recipient is required to provide the answer to this question in order to receive the funds.
- For your security, only you and the recipient should know the security question and answer. You can communicate this to the recipient by phone or in person for additional security.
You can edit recipient's information at any time, or delete a recipient if you no longer need to send them money by email.
Q: Are there limits to how much money I can email someone?
Yes, there are:
- Minimum transaction $5
- Maximum transaction and daily sending limit $3,000
- Cumulative maximum weekly sending limit $10,000
- Cumulative maximum monthly sending limit $20,000
- Maximum incoming transaction and daily incoming limit $10,000
- Cumulative maximum weekly incoming limit $70,000
- Cumulative maximum monthly incoming limit $300,000
Q: How secure is it to send money by email?
Members are not sending money by email; 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 is transferred using Online Banking.
Security is very important to us and we do our best to ensure that our member accounts are safe. It's important that our members be aware of their account and security responsibilities and the conditions applicable to e-Transfers.
Q: How do I create or edit my INTERAC® e-Transfer Profile?
Go into Online Banking and click “eTransfers”. The first time you send an INTERAC® e-Transfer, you will be prompted to set up a profile consisting of your name and email address. This is the information that will be used by INTERAC® to complete your e-Transfers. At any time, you can update this information by simply clicking on Edit Sender Profile.
Q: How do I add a recipient to my profile?
Once you have set up your profile and you are ready to send funds to someone, simply click on the "Add New Recipient" link below the "Transfer To" dropdown on the "Send INTERAC® e-Transfer" page, and enter the required information. You can delete this recipient at any time, or have easy access to them through the dropdown list for future payments.
Q: When will my recipient be notified they have access to the funds?
An email will be sent to the recipient within 30 minutes after the sender requests the e-Transfer. The notification will contain a link – the recipient just follows the instructions to pick up the funds.
Q: At any time, can I verify the status of the e-Transfer?
Absolutely! Simply view the Pending e-Transfer page. It will indicate whether your e-Transfer has been received and deposited.
Q: What happens when someone receives an INTERAC® e-Transfer?
Recipients will get an email containing a link to the Deposit your Transfer page on the INTERAC® site. From there, the recipient is walked through a user-friendly interface that enables a quick deposit. They choose which bank account to deposit their funds to.
Q: Can I cancel the INTERAC® e-Transfer at any time?
You can cancel your transfer after the notification has been sent to the recipient up until the time they accept it. Just click on the Cancel link located beside the Pending INTERAC® e-Transfers page. Please note that the initial sending fee will not be refunded.
Q: What happens if the recipient wants to refuse my e-Transfer?
When the recipient receives the transfer notice, they have the option to accept or refuse the transfer. If they choose to refuse the transfer, an email will be sent to you to let you know. You will then need to officially cancel the transfer on the Pending INTERAC® e-Transfers page and the money, less the initial fees, will be returned to your account almost immediately. If you don't cancel the e-Transfer, the funds will be returned to your account within 67 days from the date you sent the initial transfer.
Q: I want to send funds to someone but their financial institution does not have INTERAC® e-Transfers.
If the recipient's financial institution does not yet offer the INTERAC® e-Transfer service, transfers can still be accepted in any Canadian personal bank account. The recipient will need to register (using the link in the notification message) and provide their banking information in order for the money to be deposited into their bank account. The deposit usually takes 4 - 6 business days to process and an INTERAC® fee will be deducted from the deposit amount. (the standard INTERAC fee is $4.00 – but may differ depending on the recipient's financial institution)
Check the list of participating financial institutions before sending the INTERAC® e-Transfer.
Q: What happens if the recipient doesn't pick up the transfer?
If the recipient has not picked up their transfer, you can resend the notice by clicking Resend Notice beside the transfer status on the Pending INTERAC® e-Transfers page. If the transfer has not been picked up by the recipient 30 days after the date sent, the transaction will expire and notification will be sent to the sender. The sender then has 30 days to cancel the transaction to reclaim their funds (minus the service charge) by clicking Cancel beside the transfer status on the Pending INTERAC® e-Transfers page. If the sender does not cancel the transaction by this time INTERAC® will do so and the funds will be returned to the sender (minus the initial service charge) within seven days.