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Interac e-transfers


Interac e-Transfer® are a preferred method in Canada for members wanting to directly send and receive money. Quick, convenient and secure, Interac e-Transfer® enables you to transfer funds directly to anyone with an email address or phone number. The Auto-Deposit feature allows you to automatically deposit your received Interac e-Transfer® without having to answer security questions.

While  Interac e-Transfer® is a very safe service, here are some tips to help our members protect themselves. Members should:

  • Not communicate the answer to the security question via email.  Call and/or text the recipient with the password.
  • Select a question and answer that is not easy for a third party to guess.  If the notification is intercepted, it will be harder for a criminal to answer and steal the funds.
  • Be cautious not to click on any phishing links and ensure that you are only transacting with trusted websites, vendors and people.
  • Immediately notify their financial institution if you sense anything suspicious about your transaction.
  • Register for Interac e-Transfer® Autodeposit. This will make sending money more secure as there are no passwords or security questions needed.

If you would like more information about how to keep safe please visit our blog Member Security section.

Interac e-transfers FAQs

Frequently Asked Questions – Interac eTransfers

1. What is an Interac® e-Transfer?

An Interac® e-Transfer allows members to transfer money by email and/or mobile phone through online banking to any other person who has an email address and an account at a Canadian credit union or bank.

2. Is sending money by email/mobile phone secure?

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

3. How long does it take to receive money by email or mobile phone?

It can take up to 60 minutes for an Interac® e-Transfer to arrive at a recipient’s email address or mobile phone.  The amount of time depends on internet connectivity, including the recipient’s email system or mobile phone provider.  The money is withdrawn from your account immediately.

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

A non-refundable fee of $1.60 is withdrawn immediately from your account when you elect to send an Interac® e-Transfer.  We do not charge a fee to receive an Interac® e-Transfer, but other financial institutions may.

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

Registration is free and easy. Log-in to online banking and go to the Transfer Money tab.  Click the Interac® e-Transfer link located on the Shortcuts menu and follow the instructions on the screen to create your profile and your recipients’ list.  You can then begin to use e-Transfers right away.

6. Can I receive money by email or mobile phone, too?

Yes.  If you receive an Interac® e-Transfer, then please follow the instructions in the email.  When you are re-directed to the Certapay site (Certapay processes these transfers for Interac), select The Energy Credit Union from the list of credit unions.  You will then be prompted to log-in to online 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 has an email address or mobile phone, a bank account at a Canadian credit union or bank and uses online banking.

8. Why are there limits on how much I can send by Interac® e-Transfer?

For your protection, limits placed on how much a person can send by Interac® e-Transfer. Please call us at 416-238-5606 to find out about specific e-Transfer limits.

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

You can cancel an Interac® e-Transfer in online banking if the recipient has not yet deposited the money.  The money will be re-deposited back into your account.  The $1.60 service fee will not be refunded when you cancel an e-Transfer.

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 or mobile phone.  During that 30 days, you can send reminder emails to the recipient via online banking.  If after 30 days the recipient has not deposited the money you emailed, the money will be re-deposited to your account.  It can take up to 30 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 in an Interac® e-Transfer.   The sender will receive notification by email or text message that the money has been declined and the sender can then follow instructions in the email to deposit the money back into their account.

12. Can I send money by email or mobile phone from a branch?

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

13. Can I send money by email or mobile phone to someone outside of Canada?

Money sent by email or mobile phone must be in Canadian dollars and it must be deposited into a Canadian account.  You cannot send money by email or mobile phone to someone who does not have a Canadian account and online banking access at their financial institution.

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