Send money within Canada using Interac e-Transfer with EasyWeb (2024)

FAQs

Send money within Canada using Interac e-Transfer with EasyWeb? ›

You can use Interac e-Transfers to send money to anyone in Canada who has an account with a participating financial institution. However, since Interac is a Canadian interbank network, e-transfers are not available outside of the country.

You can use Interac e-Transfers to send money to anyone in Canada who has an account with a participating financial institution. However, since Interac is a Canadian interbank network, e-transfers are not available outside of the country.

Safest way to transfer money, now even safer.

Set up Interac® Autodeposit to automatically accept and deposit Interac® e-Transfer funds into your account. Setting up Interac® Autodeposit bypasses the security question and the funds are instantly deposited into your account.

To send an Interac e-Transfer^®, you need an online bank account, and the email address or phone number of the person you're sending the money to. The recipient must have an online bank account at a participating Canadian bank.

Interac e-Transfer is not available in the United States but it is possible to send money from a Canadian bank to the U.S. via Interac's partnership with MasterCard and Western Union.

Yes. U.S. Bank processes electronic transfer funds via the Automated Clearing House (ACH) secure network.

What are the disadvantages of electronic transfer? ›

Interac e-Transfer users are protected by multiple layers of security, making the service one of the most secure money transfer services globally. When you send money using Interac e-Transfer, your money doesn't actually travel by email or text message – just the notifications and deposit instructions.

An Interac e-Transfer transaction fee may apply when you Send Money or Request Money using Interac e-Transfer as follows: Personal Accounts: Up to $100: $0.50 per transfer. Over $100: $1.00 per transfer.

The use of the security question and answer acts as an additional security measure to validate that only the sender's intended recipient can collect the Interac e-Transfer(s). The sender sets the question when they send the transfer. The question is something only the intended recipient can answer.

Receivers have the option of accepting or declining an Interac e-Transfer. If the receiver declines the transfer, the sender can either cancel the payment to retrieve the funds or resend the e-mail transfer. You can cancel an Interac e-Transfer at any time, as long as the recipient has not deposited the funds.

Interac E-Transfer and Sending Money to the US

In short, the answer is no. If you want to send money to someone in the US, you would have to make global or international transfers through your bank. Interac e-transfer same-day transfers are only available from one Canadian bank account to another.

However, if the recipient does not bank online, they may be charged an additional service fee to register and provide account information to receive the funds within 3-5 business days. For recipients who bank online with a participating financial institution there is no fee to access the money.