Interac® e-Transfer Frequently Asked Questions

 Question  Answer
What is an Interac e‐Transfer?
  • Interac e‐Transfer is a fast, secure and convenient way to send money to anyone in Canada from within the security of your online banking service
  • It uses email and/or text messaging for fast notification of the recipient that a transfer has been sent, while the participating financial institutions transfer the funds using secure banking procedures
  • Learn more
How secure is it to send money by email or text message?
  • Only the notification travels over the internet or SMS/text to advise the recipient that the transfer has been initiated and provides instructions about how to deposit the money
  • The money always resides safely at a financial institution and is transferred securely through existing payment networks
How long will it take to receive the money in my bank account?
  • Once the notification arrives (approximately 30 minutes after the sender starts the Interac e‐Transfer process), you have almost instant access to the money, provided you bank online with Aldergrove Credit Union
Why hasn't the recipient been notified that I sent them an e-Transfer? It has been more than 30 minutes since I sent it.
  • Please ensure that the notification information (i.e. email address and/or mobile phone number) for the recipient is correct
  • Notification of your e-Transfer may have been delayed by Interac for increased authentication based on Interac's fraud detection system
  • Please contact branch staff for further information
When does an e-transfer expire?
  • e-Transfers expire after 30 days of being sent. However, the expiry date can be extended by another 30 days if the member re-notifies the recipient of the outstanding transfer before it expires.
How much does it cost to send and receive Interac e‐Transfers?
  • A Service Charge of $1.00 may be applied to your account at month end, depending on the type of account you have. If you require further information, please contact your branch.
  • No charge to receive
  • If the recipient’s financial institution does not offer e-Transfers, a $4 fee will be deducted from the deposit amount
How do I get started?
How do I send an Interac e-Transfer?
How do I deposit an Interac e‐Transfer?
Can I deposit an Interac e‐Transfer on my mobile device?
  • Yes. Click on the notification message from any web‐enabled smartphone and you will be directed to a mobile gateway page where you can select your financial institution and proceed to deposit your transfer
  • You can also type the link into any internet browser and deposit your transfer on any computer
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
I received a text message notification from 1000001. What does this mean?
  • 100001 is the short code address from which all text Interac e‐Transfer notifications originate
  • This means that someone is attempting to send you money through Interac e-Transfer
Which phone numbers can I send Interac e‐Transfer notifications to?
  • An Interac e‐Transfer notification can only be sent to a Canadian mobile phone number
What happens if I send an Interac e‐Transfer to a land line?
  • If you also provided an email address, the recipient will be notified by email
  • Otherwise, you may be informed that the transfer notification could not be delivered and will be directed to either reclaim your transfer or correct the contact information of your recipient
I received a text message from Interac, but did not opt into this service. How do I stop receiving
Interac text messages?
  • The text message was sent because someone chose to send you an Interac e‐Transfer and notify you via text message
  • We recommend that you let this person know you do not want to receive these messages
  • The sender can use your email address instead to send you a transfer
I have a business. Can I send and receive lnterac e-Transfers?
  • Aldergrove Credit Union offers lnterac e-Transfer services  to most business members, some exceptions apply dependent on the business restriction (example: 3 signature required account are not eligible for online banking at this time)
  • In order  to send or receive e-Transfers, the membership  must  be set up with online banking
What if I don’t bank online, can I still deposit transfers?
  • You can still deposit transfers to any Canadian bank account, even if you don’t bank online
  • You will be required to register with Interac and provide your banking information in order for the money to be deposited to your bank account
  • The deposit usually takes 3‐5 business days to process and a $4 administration fee will be deducted from the deposit amount
How do I cancel a pending e-Transfer that has not been accepted by the recipient?
  • Log in to online banking
  • Select ‘Transfers’
  • Select ‘Pending e-Transfer’ to view the e-Transfers that have been sent but not accepted and deposited
  • Click ‘Cancel’ to cancel the transfer and the money will be deposited back into your account
Does Autodeposit registration expire?
  • Yes. Autodeposit registration will expire if you have not received any transfers for 12 months.
  • Members will receive a reminder notification from Interac about 1 week before their Autodeposit registration expires.
If I close my bank account that had a Autodeposit feature can I still receive money?
  • No, you will not be able to receive funds automatically if your bank account has been closed.
  • The sender and recipient will receive an email from Interac notifying that the transfer could not be completed.
  • The Recipient will need to edit their Autodeposit registration and select an active account.
I have registered for Autodeposit but still receive Interac e-Transfer transactions that require me to answer a Security Question & Answer. Why?
  • If the sender's financial institution does not have the Autodeposit available, you (the recipient) will be required to select your financial institution and answer a security question.
When sending a transfer to someone registered with Autodeposit, why is the name in the "I understand" statement different than the Transfer To name?
  • When you send money to a recipient who has enabled the Autodeposit feature, the recipient's legal name or company name will be displayed in the "I understand" statement to ensure that you are sending funds to the intended recipient.
Can I register the same email for Autodeposit at multiple financial institutions?
  • Each email address can be activated at only one financial institution at a time. If you register and activate an email address an one financial institution and then later register the same email address at another financial institution, the email address at the first institution will be automatically deactivated, allowing funds to be sent to the second financial institution.
Does registering an email for Autodeposit require 2 to sign if I have a business with dual signing requirements?
  • No. Only 1 approver is required to initiate a request as it eventually results in a credit to the account.
Does initiating an Autodeposit request require 2 to sign if my business has dual signing requirements?
  • No. Only 1 approver is required to initiate a request as it eventually results in a credit to the account.
Does fulfilling an Autodeposit request require 2 to sign if my business has dual signing requirements?
  • Yes. Businesses who require 2 to sign will need 2 approvers to review and submit the fulfill request. This is because this activity results in an immediate debit to the account.
Is there a fee to use the Request Money feature?
  • No. ACU does not charge a fee for the Request Money feature.

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