INTERAC® e-Transfers

Interac® e-Transfer – just like sending cash, only now from your online or mobile banking.

Formerly known as Interac Email Money Transfer, Interac® e-Transfer is the same simple, fast, convenient and secure way to send and receive money directly from one bank account to another. You can send and receive money to anyone with an email address or a mobile phone number and a Canadian deposit account. The sender does not need to know the recipient’s institution or account information. It uses email and text message for fast notification to the recipient that a transfer has been sent, while participating financial institutions transfer the funds using established and secure banking procedures.

Splitting the bill in a restaurant? Chipping in on a gift? Paying for an item online? Use Interac® e-Transfers for everyday situations— anytime, anywhere.

To experience Interac® e-Transfer, you do not need to download or install any application – you only need access to online banking, a computer with an internet connection and/or a mobile phone with desktop-class web browser.

Transfer quickly

• With Interac® e-Transfers you don't have to wait until you see someone to give them money.
• Send money to a student in a pinch, or to an out-of-town relative—all at the click of a button.

Make your life easier

• Organize your finances on your time. Interac® e-Transfers make it easier than ever to distribute and collect money.
• Forgot cash? Contributing to a group gift? Paying back friends has never been easier.
• Pay for everyday services such as housekeeping, home repairs, babysitting, dog-walking.
• Send Interac® e-Transfers from your smartphone, wherever you are, with PenFinancial’s e-Transfer mobile app


View Interac® e-Transfer Demo



• Users can send money to anyone with an email address or mobile phone number and a Canadian financial institution account from a desktop or mobile phone
• Recipient can receive notifications by email address or by text message
• Recipient can receive money from a desktop or phone
• Create a recipient in an instant
• The maximum daily transfer-out amount is $2,000 (weekly and monthly limits also apply)
• View and manage recipients pending transfers
• The fee per transaction is $1.50 (a non-refundable fee withdrawn immediately from your account when you elect to send an Interac® e-Transfer).

Frequently Asked Questions

1. What is an Interac® e-Transfer?

An Interac® e-Transfer allows you to send money by email or mobile phone from your PenFinancial Credit Union account to any other person who has an email address or mobile phone number and an account at a Canadian financial institution.

2. Is sending money by Interac® e-Transfer secure?

Sending money is secure. You create a shared security question, so that only the recipient can deposit the money. The money never actually travels by email or mobile phone; it's deposited directly into the recipient's account after the recipient has 'unlocked' the email or mobile text message by answering the security question.

3. How long does it take to receive the money?

It can take at least 15 minutes for an Interac® e-Transfer to be received by the recipient. The amount of time depends on the recipient's system as well. The money is withdrawn from your account immediately.

4. How much does it cost to send an Interac® e-Transfer?

The fee per transaction is $1.50 (a non-refundable fee withdrawn immediately from your account when you elect to send an Interac e-Transfer).

5. How do I register for Interac® e-Transfer?

Registration is free and easy. Log-in to online or mobile banking and go to the Transfers page. Click the Interac® e-Transfer link and follow the instructions on the screen to create your profile and your recipients' list. You can then begin to use Interac® e-Transfer right away.

6. Can I receive money by email, too?

Yes. If you receive an Interac® e-Transfer notification email or text message, follow the instructions provided. When you are re-directed to the Certapay site (Certapay processes these transfers for Interac), select PenFinancial Union from the list of financial institutions. You will then be prompted to log-in to online/mobile banking to answer the security question and choose the account you want to deposit the funds into. Once you have completed these steps, the money will be deposited into your account immediately, without a hold.

7. Who can use Interac® e-Transfer?

Interac® e-Transfer can be used by anyone who uses online or mobile web banking and can withdraw from an account.

8. Why are there limits on how much I can send?

For your protection, limits placed on how much a person can send by Interac® e-Transfer.

9. Can I cancel an Interac® e-Transfer?

You can cancel an Interac® e-Transfer transaction if the recipient has not yet deposited the money. The money will be re-deposited back into your account immediately.

10. What happens if the money I send isn't deposited?

A recipient has 30 days to deposit money that you sent to them by email. During that 30 days, you can send reminder messages to the recipient via online/mobile web banking. If after 30 days the recipient has not deposited the money you sent, the money will be re-deposited to your account. It can take up to 7 business days after the 30 day expiry to receive the money back into your account.

11. Can a recipient decline to accept the money?

A recipient can decline to deposit the money that is sent to them. The sender will receive notification that the money has been declined and the sender can then follow instructions provided to deposit the money back into their account.

12. Can I send money from a branch?

No. For security reasons, you can only send money by email via online/mobile web banking.

13. Can I send money to someone outside of Canada?

Money sent by Interac® e-Transfer must be in Canadian dollars and it must be deposited into a Canadian account. You cannot send money to someone who does not have a Canadian account and online banking access at their financial institution.
Log in to Online Banking now

• Sign up for online banking now. Call or visit a branch to order a MemberCard and create a new personal access code.
• Not yet a PenFinancial Credit Union member? You should be! Click here to apply for membership.



®INTERAC is a Trademark owned by Interac Inc. and is used under license.


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