INTERAC E-TRANSFER^®

We are committed to safeguarding your personal and financial information. One of our most important objectives is ensuring that your online and mobile banking experience is as safe and secure as possible.Learn more about our security measures.

An Interac e-Transfer transaction cannot be reversed once a recipient has deposited the funds. Here are simple steps that you can take to protect yourself online.

• Keep your online banking information safe — Choose strong and unique passwords, use them only for your online banking and never share them.
• Enable 2-step verification (also known as two-factor authentication) — Our online banking experience offers an added layer of protection with 2-step verification. You'll receive a one-time verification code to your phone or email that you enter along side your password to log in to online banking.
• Set up account alerts— You’ll instantly get an email or a text when important activity happens on your account. You'll know if someone other than you has logged in, changed the password, or created a new Interac e-Transfer recipient.
• Beware of Phishing scams— We will never email you or ask you for your banking details. If you get an email or a phone call from us asking for your banking information, it is likely a scam.Contact our Member Advice Centre to verify before sharing any details.
• Sign up for Autodeposit — That way, Interac e-Transfers sent to your email address will automatically be deposited into your bank account without the need for a security question.

How is Autodeposit more secure than answering security questions?

Registering for Autodeposit is a secure two-step process that you need to authenticate via online banking and your personal email. Your registration is initiated through online or mobile banking where your legal name is displayed and subsequently used in your communications with Interac and it is completed by confirming Interac's email.

When you are sending an Interac e-Transfer via email to someone that has registered for Autodeposit, we will display the legal name of the individual or business member you are sending the money to. If you do not recognize the legal name, you should contact your recipient before you send your e-Transfer to verify either the email address you are using or the name they are legally registered under.

Can I register more than one email address with Autodeposit?

Yes. You can register up to five email addresses per account.

Will my Autodeposit registration expire?

Autodeposit registrations are permanent as long as the registration is active. If you don't receive an e-Transfer at the registered email address within a year, you will receive an email from Interac asking if you'd like to renew your registration or cancel it.

If I send money to a recipient, how will I know if my recipient has the Autodeposit feature enabled?

You will know if your recipient has the Autodeposit feature enabled because the Security Question & Answer will no longer appear and additional text on the screen will indicate that the recipient has registered for Autodeposit.

How long will it take for the money to be received by my recipient?

Money being sent to a recipient registered for Autodeposit will take the same time as a regular Interac e-Transfer transaction. Most transfers will be sent immediately but could take up to 30 minutes. Once the Interac e-Transfer notification arrives, the recipient will have instant access to the money.

Will I be notified when the funds have been received by the recipient?

Yes, once the funds are successfully deposited into your recipient's account via the Autodeposit feature, you will receive a confirmation notification.

Can I cancel an Interac e-Transfer to a recipient who is registered for Autodeposit?

A transaction can only be cancelled if it hasn’t already been deposited. To cancel an Interac e-Transfer transaction, log in to online banking and locate the transfer in the Interac e-Transfer Pending Transfers or Transfer History list. If the transfer doesn't have a "cancel" link beside it, then the deposit has completed and can no longer be cancelled.

Can I still add a Security Question & Answer for a recipient who has the Autodeposit feature enabled?

No, if the recipient has enabled the Autodeposit feature, they have chosen to receive money directly into their account without the need to answer a security question.

Once I’ve registered for the Autodeposit feature, how will I know when someone sends me money?

You will receive a notification by email every time you receive funds through the Autodeposit feature, letting you know that money has been deposited into your account. The notification includes the sender's name and their message to you.

Why do I still have to answer the Security Question after registering for the Autodeposit feature?

Not all financial institutions have the ability to leverage the Autodeposit feature to send funds to registered recipients. There might be instances where you’ll have to answer the security question even after you have registered for the Autodeposit feature.

Are there limits on the amount that will be Autodeposited?

Yes, you can Autodeposit up to a maximum of $25,000 per transfer and there are no daily, weekly or monthly limits.

How do I use Request Money?

Request Money is a feature of Interac e-Transfer that you can access through either online banking or the mobile app.

Is there a fee for Request Money?

Yes, the fee depends on the account you have so please check your account details to confirm the fee that will apply. View Business Service Fees to see our account & service fees.

Who pays the Request Money fee?

The individual who initiates the transfer will pay the fee. So whether you request money using the Request Money feature or send a regular e-Transfer, you will pay the fee.

Once I’ve registered for the Autodeposit feature, how will I know when someone sends me money?

You will receive a notification by email every time you receive funds through the Autodeposit feature, letting you know that money has been deposited into your account. The notification includes the sender's name and their message to you.

Why do I still have to answer the Security Question after registering for the Autodeposit feature?

Not all financial institutions have the ability to leverage the Autodeposit feature to send funds to registered recipients. There might be instances where you’ll have to answer the security question even after you have registered for the Autodeposit feature.

Are there limits on the amount that will be Autodeposited?

Yes, you can Autodeposit up to a maximum of $25,000 per transfer and there are no daily, weekly or monthly limits.

How will I be notified if a request for money is sent to me?

Similar to sending money via Interac e-Transfer, when someone requests money from you through Interac e-Transfer, you will receive a notification to the email address or mobile number you've indicated.

How do I fulfill an Interac e-Transfer request for money?

If you have received a request for money, you will need to click the link that appears in the notification to log in to online banking. You can then fulfill the request by choosing the account you'd like the money withdrawn from. The requestor will receive a notification from Interac once the money is deposited into their account.

Can I decline a request?

Yes, you can decline a request for money by selecting the decline option within the notification or on the Interac page showing details of the request. If you provide a reason for declining the request, this message will be sent to the requestor.

Are there limits on the amount I can fulfill?

Fulfilling a request counts towards the limits shown in the table here. 

Can I block a Requestor from requesting funds from me or opt-out of the Request Money feature?

Yes, you can opt-out of receiving requests from a particular requestor, or you can opt-out of the service completely by selecting the opt-out option from the request notification email.

How long will it take to receive a notification once my contact sends me a request for money using Interac e-Transfer?

Interac e-Transfer transactions are sent immediately but could take up to 30 minutes depending on the sender's financial institution.

Who can I request money from?

You can request money from anyone with an email address or mobile number who has access to online banking or mobile banking at a Canadian financial institution.

Note: Not all financial institutions allow fulfilling a request. If you have sent a request to someone who cannot fulfill it from their financial institution, please ask them to send a regular Interac e-Transfer to you instead.

Are there limits on the amount I can request?

Yes, you can request a maximum of $3,000 per request. There are no daily, weekly or monthly amount limits, however you can only have up to 50 outstanding requests and until fulfilled they will limit the amount of new requests you can send to recipients.

Can I edit or cancel a money request I have initiated?

Yes, you can edit or cancel a money request you have initiated by logging into online banking and accessing the Interac e-Transfer Pending Transfers list. If the money request is listed with an "edit" or "cancel" link then these actions can be taken.

What happens if I request money using Interac e-Transfer to a landline?

If you also provided an email address when setting up the recipient, the recipient will be notified by email. Otherwise you will be informed that the transfer notification could not be delivered.

Are there reminder notifications for outstanding money requests?

Yes, outstanding requests have automated reminder notifications that are sent to the recipient. Reminders are sent every five days and a maximum of three reminders will be sent. You can also manually trigger a reminder to be sent to the recipient. To do this, log in to online or mobile banking, select the Interac e-Transfer transaction from the Pending Transfers list, and select Resend notification. Manually triggering a reminder will use up one of your three allotted reminders.

How long are outstanding requests valid for?

Money requests are valid for 30 days from the date they are requested. However, the expiry date can be extended by another 30 days if you re-notify the recipient of the outstanding request before it expires.

Will I be notified once the request has been fulfilled?

Yes, once the request for money has been fulfilled and the money deposited, you'll receive a notification that the funds are available in your account.

Once the request has been fulfilled, how long will it take for me to receive the money?

Money being sent in response to a request for money will take the same time as a regular Interac e-Transfer transaction. Most transfers will be sent immediately but could take up to 30 minutes. Once the Interac e-Transfer notification arrives, you'll have instant access to the money.

How will I be notified if a request for money is sent to me?

Similar to sending money via Interac e-Transfer, when someone requests money from you through Interac e-Transfer, you will receive a notification to the email address or mobile number you've indicated.

How do I fulfill an Interac e-Transfer request for money?

If you have received a request for money, you will need to click the link that appears in the notification to log in to online banking. You can then fulfill the request by choosing the account you'd like the money withdrawn from. The requestor will receive a notification from Interac once the money is deposited into their account.

Can I decline a request?

Yes, you can decline a request for money by selecting the decline option within the notification or on the Interac page showing details of the request. If you provide a reason for declining the request, this message will be sent to the requestor.

Are there limits on the amount I can fulfill?

Fulfilling a request counts towards the limits shown in the table here. 

Can I block a Requestor from requesting funds from me or opt-out of the Request Money feature?

Yes, you can opt-out of receiving requests from a particular requestor, or you can opt-out of the service completely by selecting the opt-out option from the request notification email.

How long will it take to receive a notification once my contact sends me a request for money using Interac e-Transfer?

Interac e-Transfer transactions are sent immediately but could take up to 30 minutes depending on the sender's financial institution.

How does sending an Interac e-Transfer work?

When you (the sender) initiate an Interac e-Transfer transaction through online banking, an e-Transfer notification is generated by Interac through email or text message and sent to the recipient.

The recipient can accept or decline the Interac e-Transfer by clicking on the transaction link on the notification email/text message. The recipient will need to sign in to their online banking service (at any financial institution) to complete the transaction and access the funds.

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

Yes, the fee depends on the account you have and the financial institution you bank with.  View Business Service Fees to see our account and service fees. Receiving an Interac e-Transfer is always free.

Are there limits on the amount I can send or receive?

Yes. These are your sending/receiving limits.

Will the recipient have immediate access to the funds?

Provided the recipient banks online with a participating financial institution, they will be able to accept the transfer within 30 minutes.

Is there a limit on how many recipients can be added?

There is no limit—you can add as many recipients as you’d like.

Can I resend an Interac e-Transfer notification to the recipient to remind them to accept it?

Yes. You can select the Resend Notice link beside the applicable Interac e-Transfer transaction listed in the Pending Interac e-Transfer section on the Interac e-Transfer page of online banking.

What if the recipient fails to answer the security question correctly?

After three incorrect attempts, the Interac e-Transfer you sent will be blocked and you’ll receive an email notification with instructions to cancel the transfer. If you want to send this Interac e-Transfer again, you’ll need to login to online banking to send it again and another service fee may apply.

Is there a timeframe for the recipient to “accept” the Interac e-Transfer?

The recipient has 30 days to accept the Interac e-Transfer. If the Interac e-Transfer is not accepted within 30 days, it will expire. The recipient will receive weekly email reminders from Interac leading up to the expiry date.

Will I (the sender) receive notification when the Interac e-Transfer expires after 30 days?

Yes. You’ll receive and email notification (or text message) to cancel the Interac e-Transfer to reclaim your money—there is a link you’ll need to click on in the notification you receive. You’ll have 30 days to do this. If you do not reclaim your money within 30 days after the transaction has expired (so within 60 days from the time you originally sent the Interac e-Transfer to the recipient), then Interac will initiate a process to return the funds to Valley First so we can process a credit to your account.

If the recipient of my Interac e-Transfer accepts the transaction, can I (the sender) cancel it or reverse it?

Once a transfer has been “accepted” by the recipient, it cannot be cancelled or reversed. As with cash, money transfers should only be sent to parties that are known and trusted.

If the recipient of the Interac e-Transfer banks with a financial institution that does not offer Interac e-Transfer, can I still use this service to transfer money to them?

No. As of June 30, 2018 in order to receive funds via Interac e-Transfer, your recipient must have an account at a Canadian financial institution that offers the Interac e-Transfer service.