Interac e-Transfers

Interac e-Transfer®

Interac e-Transfer® is a convenient and secure way to send, request and receive money in minutes*. Anyone with an email address or mobile phone number and an account at a participating Canadian credit union or bank can use the service without sharing any personal financial information.

	Autodeposit This enhanced feature enables funds to be deposited directly to your account, without having to answer a security question via email. This feature provides an additional level of security and peace of mind. Learn more
	Send Money The original e-Transfer feature which allows you to send money directly to another person using online or mobile banking.
	Request Money With the Request Money feature, you can request money directly from anyone on your e-transfer recipient list. Once accepted, the funds will be withdrawn tom the recipient and deposited into your account. Learn more

How do I access Interac e-Transfer®?

Sign in to online banking, Mobile Web and the Mobile App. Once logged in, simply select Transfers from the navigation menu to access Interac e-Transfer®.

How secure is Interac e-Transfer®?

Interac e-Transfer® is one of the safest digital money transfer services in the world. When the service is used, the money is transferred using established and secure banking procedures that financial institutions have used for years to settle cheques, bank machine deposits and withdrawals. Money never travels by email or text - these are simply used to notify you that money was sent or requested, as well as provide instructions to deposit.

What is an intercepted e-Transfer?

This occurs when a legitimate customer sends an e-Transfer to someone they know. Criminals seize the opportunity to deposit the funds to a mule account before the intended recipient has the chance. The interception is not caused by a vulnerability in MemberDirect® or the Interac e-Transfer® product, but rather because the recipient’s email account was accessed by a criminal; known as email account compromise. Once in that account, criminals can “see” the notification from Interac and use the deposit link to redirect funds into a different account by answering the security question.

How do I protect myself from email account compromise?

There are several ways to protect your email account from being compromised. You should:

Use two-factor authentication for e-mail; most email providers have this feature.
Select a strong password for your email account and change it regularly.
Do not use the same password across various accounts.
Be cautious not to click on any phishing links and ensure that you are only transacting with trusted websites, vendors and people.

How do I use Interac e-Transfer® safely?

When using Interac e-Transfer®, you should:

Register for Autodeposit. This will make sending money on the e-Transfer service more secure, as any transactions that are flagged for auto-deposit will be deposited without sending an email to the recipient.
Select a question and answer that is not easy for a third party to guess and cannot easily be found on social media. If the notification is intercepted, it will be harder for a criminal to answer and steal the funds.
Not communicate the answer to the security question via email or text.
Immediately notify your credit union if you sense anything suspicious about your transaction.