COVID-19 has caused all Canadians to rethink many aspects of their life. From virtual get-togethers to drive-by birthday party greetings, we are all adjusting to a new normal. With COVID-19 top of mind for everyone, the Canadian Anti-Fraud Centre reports that scammers are taking advantage of the environment by attempting to trick consumers into revealing personal and financial information, clicking on malicious links or making donations to phony charities and relief efforts.

As you may already know, Interac e-Transfer®Autodeposit is a fast and convenient way to send money. But are you aware that setting up the Autodeposit feature also offers cyber security benefits that help protect you?  More than ever it is important to protect your data privacy. If you have the Autodeposit feature enabled, money that you receive via Interac e-Transfer®will be deposited into your credit union account automatically, without the need for you to answer a security question.

Once you enable Autodeposit and define which account will receive your transfers, they will be automatically deposited in your chosen account without any additional steps. Not only does that mean fewer steps to complete your transfer, it also means less time worrying about email fraud.

That’s because fraudsters try to exploit weaknesses in email security to attempt phishing scams and other cyber attacks that involve accessing your email account. If you use Autodeposit to bypass the email step of a transfer, fraudsters who gain access to your email account can’t intercept the message.

You can also make sure you are set up for our great email alerts feature. It’s free and you can fine tune the parameters to suit you best as to how many email alerts you receive about your account. Online banking alerts provide added protection and convenience to your online banking experience. Stay informed by email or text message when an online event occurs on your accounts including…

  • Your Personal Access Code is changed
  • Your account balance is running low
  • Your term deposit is maturing
  • And more!


Please visit the Interac® website here for more great reasons to enroll in Autodepost. If you are interested about our direct Alerts you can visit our website here!

Recent Posts