Interac eTransfer Frequently Asked Questions

What is an Interac® e-Transfer?

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


Why the name change from Interac® email money transfers to Interac® e-Transfer?

Since adding this enhancement of mobile person to person transfers, Interac® felt a name change was necessary since the feature is no longer limited to email money transfers.


Is sending money by email secure?

Yes, Interac® uses the same security measures for mobile as email transfers.  You are not sending money by email or text message; only the notification travels over the Internet to advise the recipient that the transfer has been initiated and to provide instructions on how to deposit the money.  The money always resides safely at the financial institution and is transferred through existing payment networks that financial institutions have used for years to settle cheques, bank machine deposits and withdrawals.

Security measures have been built into the system, including:

·         Encryption technology

·         Confidential user IDs and passwords issued by financial institutions

·         Secure login process

·         A security question to ensure only


How long does it take to receive money by email?

It can take up to 15 minutes or longer for an Interac® e-Transfer to arrive at a recipient's email address.  The amount of time depends on internet connectivity, including the recipient's email system.  The money is withdrawn from your account immediately.


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

A service fee of $1.50 per outgoing transfer will be charged to your account at month end .  We do not charge a fee for you to receive an Interac® e-Transfer but other financial institutions may.


Are there limits on the amounts I can send and receive?

For your protection, there are limits on the amount you can send and receive. Each financial institution sets send and receive limits through online banking.

 Per transaction





 Daily Limit















Note:  These limits cannot be changed.


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.


Can I receive money by email, too?

Yes.  If you receive an Interac® e-Transfer, follow the instructions in the email.  When you are re-directed to the Certapay site (Certapay processes these transfers for Interac), select Progressive 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.


Who can use Interac® e-Transfer?

 Interac® e-Transfer can be used by anyone who has an email address, a bank account at a Canadian credit union or bank and uses online banking.


Can I send an Interac® e-Transfer to anyone?

Yes, you have the ability to securely send money to anyone with an email address or mobile phone number and a Canadian deposit account.

If your recipient is a member of Progressive Credit Union or a customer of any of the Canadian Chartered Banks, they will follow the link from the email and step through the instructions provided.

Please note: if your recipient’s financial institution does not yet offer the Interac® e-Transfer services, or if they don't bank online, they can still receive transfers to any Canadian bank account.  They will need to register via the Certapay website and provide their banking information in order for the money to be deposited into their bank account.  The deposit usually takes 4-6 business days to process and a $4.00 fee will be deducted from the deposit amount.

This option is available by using the link in the notice you get when receiving an Interac® e-Transfer.  If you cannot click on the link, either cut and paste or type your link into your browser.


How can I send an Interac® e-Transfer?

All you need is access to online banking at Progressive Credit Union and the email address or mobile phone number of the person you are sending money to.


How do I deposit an Interac® e-Transfer?

When someone sends you an Interac® e-Transfer, you will receive a notification via email or text message indicating a transfer has been sent to you.  The notification includes information about the transfer including:

·         Sender’s name

·         Transfer amount

·         Expiry date

·         Message from the sender

The notification also includes links and directions to help you deposit your transfer to your account.  Simply click the link in the notification, select your financial institution, log-in to online banking and deposit the money into the account of your choice.  If you cannot click on the link, either cut and paste or type your link into your browser.

If you don’t have access to online banking, visit your branch today to get signed-up.

If your financial institution does not yet offer the service, or if you don’t bank online, you can still deposit transfers to any Canadian bank account.  You will be required to register with Interac® and provide your banking information in order for the money to be deposited into your bank account.  The deposit usually takes 4 – 6 business days to process and a $4.00 fee will be deducted from the deposit amount.


Can business accounts use the Interac® e-Transfer feature?

This service is available only to those business accounts with one signature required on signing authorities and which have full MemberDirect Online Banking access.


Can personal accounts with two or more signatures use the Interac® e-Transfer feature?

This service is NOT available for any personal accounts that require two or more signatures to perform transactions.


Is there a minimum dollar amount required to send an Interac® e-Transfer

There is no minimum required to send an Interac® e-Transfer.


Can I deposit an Interac® e-Transfer into a bank account in another country?

Currently the Interac® e-Transfer service is only available to those who bank at a Canadian financial institution and have a Canadian currency account.  You will not be able to deposit your Interac® e-Transfer to a foreign bank account.  If you have received an Interac® e-Transfer and do not have a Canadian bank account, ask your sender to cancel the transfer.  Once the transfer is cancelled by the sender, the funds will be returned to the sender's account.  If you are unable to contact your sender, the transfer will expire in approximately 30 days.  Once the transfer expires, the sender will receive a notification to reclaim the funds.


I received an “invalid error message” when sending an Interac® e-Transfer, how do I fix it?

When sending an Interac® e- Transfer to someone and you add a message in the comment field box, certain special characters may produce an invalid error message.  These characters include: - , & , _, #, % and various "bracket" types. Please do not enter these in the comment box.


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.  Although there is no charge to cancel the transaction, the $1.50 service fee will not be refunded when you cancel an e-Transfer.

Log into Online Banking using the Internet or Web Mobile Banking and select the “pending e-Transfer” menu option. Select “cancel” for the transaction you wish to cancel. Once complete, the money will return to your account that the email money transfer was sent from.


How long does a recipient of an Interac® e-Transfer have to deposit the money?

A recipient has 30 days to deposit money that you sent to them by email.  During that 30 days, you can send reminder emails to the recipient via online banking.  Log into Online Banking and select the “Pending e-Transfer” menu option.

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 7 business days after the 30 day expiry to receive the money back into your account.


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 that the money has been declined and the sender can then follow instructions in the email to deposit the money back into their account.


Can I send money by email from a branch?

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


Can I send money by email to someone outside of Canada?

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