Interac e-Transfer
Transferring money can now be done quickly and securely with INTERAC e-Transfer†! All you need is your recipient’s email address or mobile phone number to send money in just a few quick and easy steps.
When to use INTERAC e-Transfer†
- Splitting the bill in a restaurant
- Paying a roommate for your portion of rent or bills
- Sending some birthday cash to a family member
- Paying for everyday purchases such as housekeeping, babysitting, or home repair.
Convenient and Simple to Use!
- All you need is your recipient’s email address or mobile phone number
- You can also transfer money to your other Canadian Financial Institution accounts
- Make or receive a transfer from anywhere at any time using your computer or Smartphone
- Online Banking is available 24 hours a day, 7 days a week!
Saves Time and Money!
- No need to wait for the transfer to be approved – your recipient can access funds quickly
- No more stops at the ATM or waiting for cheques to be cashed!
- Lower cost than bank drafts or money orders.
SET UP AN INTERAC E-TRANSFER PROFILE
Online Banking:
- Sign in to online banking on desktop/tablet.
2. Go to ‘Transfers & Payments’.
3. Under Interac e-Transfer®.
4. Click ‘Profile Settings’.
5. You will be asked to confirm your information – name, email, mobile phone.
6. Click ‘Continue’.
7. Enter the one-time password you receive via text or email address.
8. Click ‘Continue’.
Mobile App:
- Sign in to online banking on the mobile app.
2. At the bottom of the screen tap ‘Move Money’.
3. Tap ‘INTERAC e-Transfer’at the top right corner.
4. Tap ‘Profile Settings’.
5. Click ‘Continue’.
6. Verify your details and click ‘Continue’.
7. Enter the one-time password you receive via text or email address.
8. Click ‘Continue’.
SEND AN INTERAC E-TRANSFER
Sending money by INTERAC e-Transfer® is quick and easy. First, you will need to set up a user profile and a recipient list. Once that is completed, you can now send an INTERAC e-Transfer transaction by following these simple steps.
1. Sign in to online banking on desktop/tablet.
2. Go to ‘Transfers & Payments’.
3. Under Interac e-Transfer®.
4. Click ‘Send Money’’.
5. At the top, select the account you wish to send from.
6. Select the contact you want to send money to from the dropdown menu.
7. Enter the amount.
8. Add an optional message if you like.
9. Click ‘Continue’.
10. Confirm details.
11. Click ‘Continue’.
1. Sign in to online banking on the mobile app.
2. At the bottom of the screen tap ‘Move Money’.
3. Tap INTERAC e-Transfer at the top right corner.
4. Tap ‘Send’.
5. At the top, select the account you wish to send from.
6. Select the contact you want to send money to from the dropdown menu.
7. Enter the amount.
8. Add an optional message if you like.
9. Click ‘Continue’.
10. Confirm details.
11. Click ‘Continue’.
Effective Tuesday, August 1st, 2023 a usage fee of $1.50 will be charged for every e-transfer sent above the monthly threshold of 20 sent e-transfer. There are no fees associated with receiving an e-transfer.
RECEIVE AN INTERAC E-TRANSFER
When receiving an INTERAC e-Transfer for the first time in the new Online Banking platform and if you had received INTERAC e-Transfers previously, you may be presented with the Luseland CU name and logo. If this is the case, please follow these steps:
- Bypass selecting Luseland/clicking on the logo
2. Scroll down to “Select a different financial institution”.
3. Select Luseland Credit Union from the list.
The reason for this is due to your device remembering where to go, which is the old platform that is no longer there.
Once you complete this process for the first time, your device should remember where to go (which is the new online banking) and you will not have to repeat these steps.
e-Transfer Limits:
Sending Limits:
| Per Instant Transaction: Per Day Instant Transaction: Per Transaction: Per Day: |
$500. $500 $6,000. $10,000. |
| Per Week (last 7 days): | $10,000. |
| Per Month (last 30 days): | $20,000. |
Effective Tuesday August 1st, 2023 a usage fee of $1.50 will be charged for every e-transfer sent above the monthly threshold of 20 sent e-transfer. There are no fees associated with receiving an e-transfer.
SIGN UP FOR AUTODEPOSIT:
Online Banking:
1. Sign in to online banking on desktop/tablet.
2. Go to ‘Transfers & Payments’.
3. Under Interac e-Transfer®.
4. Click ‘Autodeposit Settings’.
5. Click ‘Add Autodeposit’.
6. Under Register With input the mobile phone number or email address you would like to register and choose which account you would like your money to be automatically deposited into.
7. Agree to the acknowledgment and click ‘Continue’.
8. Confirm your autodeposit details and click ‘Continue’.
9. Enter the one-time password you receive via text or email address.
10. Click ‘Continue’.
11. A Verification message will be sent to you via text or email to complete the registration. You will have the option of either completing the registration or declining it.
2. At the bottom of the screen tap ‘Move Money’.
3. Tap ‘INTERAC e-Transfer’ at the top right corner.
4. Tap ‘Autodeposit Settings’.
5. Click the + icon at the top right hand corner of the screen.
6. Under Register With input the mobile phone number or email address you would like to register and choose which account you would like your money to be automatically deposited into.
7. Agree to the acknowledgment and click ‘Continue’.
8. Confirm your autodeposit details and click ‘Continue’.
9. Enter the one-time password you receive via text or email address.
10. Click ‘Continue’.
11. A Verification message will be sent to you via text or email to complete the registration. You will have the option of either completing the registration or declining it.
FAQs
HOW TO ADD AN INTERAC E-TRANSFER RECIPIENT.
Online Banking:
- Sign in to online banking on desktop/tablet.
Go to ‘Transfers & Payments’.
3. Under Interac e-Transfer®.
4. Click ‘Manage Contacts’.
5. Click the +Icon at the top right-hand corner of the screen.
6. Enter the name of the person you wish to add.
7. Enter their email address/mobile phone number.
8. Select language preference – defaulted to English.
9. Select the notification method using the drop-down menu.
10. Enter the security question and the answer.
11. Re-enter the answer to the security question.
12. Click ‘Continue’.
13. Confirm the details of the contact added.
14. Click ‘Continue’.
15. Enter the one-time password you receive via text or email address.
16. Click ‘Continue’.
Mobile App:
- Sign in to online banking on the mobile app.
At the bottom of the screen tap ‘Move Money’.
3. Tap INTERAC e-Transfer at the top right corner.
4. Click ‘Manage Contacts’.
5. Click ‘Add contact’.
6. Enter the name of the person you wish to add.
7. Enter their email address/mobile phone number.
8. Select language preference – defaulted to English.
9. Select the notification method using the drop-down menu.
10. Enter the security question and the answer.
11. Re-enter the answer to the security question.
12. Click ‘Continue’.
13. Confirm the details of the contact added.
14. Click ‘Continue’.
15. Enter the one-time password you receive via text or email address.
16. Click ‘Continue’.
Note: For your security, only you and the recipient should know the security question and answer. You can communicate this to the recipient by phone or in person for additional security.
You can edit a recipient’s information at any time or delete a recipient if you no longer need to send them money by ‘Manage Contacts’.
How long does it take to send and receive an INTERAC e-Transfer†?
An e-mail and/or SMS text message notifying the recipient of their INTERAC e-Transfer† is sent immediately after the sender completes the INTERAC e-Transfer†. Once the recipient receives notification, they can complete the deposit process, usually within just a few minutes of the transfer being sent!
I sent a transfer but provided an incorrect e-mail address or mobile phone number for the recipient. What should I do?
If you provided an invalid e-mail address, you will be notified via e-mail that the transfer notification was undeliverable. You can readdress and resend the transfer or cancel the pending transfer and the original amount (less the service charge) will be credited back to your account.
If you provided an invalid e-mail address, but did provide a valid mobile phone number, you will not be notified by e-mail that the transfer was undeliverable.
If you have provided an invalid mobile phone number and chose to notify your recipient by mobile phone only, you will not be notified in any way that the SMS text message did not go through.
How do I readdress and resend an INTERAC e-Transfer†?
If you have been notified of an undeliverable INTERAC e-Transfer† due to an incorrect e-mail address, you can readdress and resend the transfer. Just edit your recipient information to include the valid email address and /or mobile phone number.
Online Banking:
1. Sign in to online banking on desktop/tablet.
2. Go to ‘Transfers & Payments’.
3. Under Interac e-Transfers, select ‘History’. Pending transactions can be viewed here.
4. Select resend. Click ‘Continue’.
5. Confirm transaction details and click ‘Continue’.
Mobile App:
- Sign in to online banking on the mobile app.
2. At the bottom of the screen tap ‘Move Money’.
3. Tap ‘INTERAC e-Transfer’ at the top right corner.
4. Tap ‘History’.
5. At the top tap ‘Pending Transactions’.
6. Tap the e-Transfer you would like to resend.
7. Select ‘Resend’
8. Tap ‘Continue’.
9. Confirm transaction details and click ‘Continue’.Note: Once money has been deposited by the recipient it cannot be canceled. Be sure to verify the email address or mobile phone number before you send money.
How do I cancel an INTERAC e-Transfer† and deposit the funds back into my account?
You can cancel an Interac e-Transfer transaction before it has been deposited by the recipient.
Online Banking:
- Sign in to online banking on desktop/tablet.
2. Go to‘Transfers & Payments’.
3. Under Interac e-Transfers, select‘History’. Pending transactions can be viewed here.
4. Select Cancel (red X). Click ‘Continue’.
5. Confirm cancel transaction details and click ‘Continue’.
6. Transaction successfully canceled. The funds will be deposited back into the account where it was originally transferred from.
Mobile App:
- Sign in to online banking on the mobile app.
2. At the bottom of the screen tap‘Move Money’.
3. Tap‘INTERAC e-Transfer’ at the top right corner.
4. Tap ‘History’.
5. At the top tap ‘Pending Transactions’.
6. Tap the e-Transfer you would like to cancel
7. Select ‘Cancel’ (X).
8. Tap ‘Continue’.
9. Confirm cancel transaction details and click ‘Continue’.
10. Transaction successfully canceled. The funds will be deposited back into the account where it was originally transferred from.
Note: Once money has been deposited by the recipient it cannot be canceled. Be sure to verify the email address or mobile phone number before you send money.
If the transfer is no longer on your list of Pending INTERAC e-Transfers†, please contact your Credit Union for assistance.
Does the recipient get a reminder to deposit their INTERAC e-Transfer†?
What is a security question? What are the guidelines for the security answer?
The security question verifies the recipient’s identity and protects your funds from being received by the wrong person. The question must be answered correctly in order to complete the deposit process. It is the sender’s responsibility to create a security question and answer known only to the recipient.
Guidelines for the security answer:
- The answer must be one word.
- The answer must not contain any blank spaces.
- The answer is not case sensitive and letters and/or numbers are accepted.
- The answer cannot contain special characters (i.e., &, $, etc.).
- The answer should be kept strictly confidential between the sender and recipient.
- The security question and/or answer must not be included in the optional message attached to the INTERAC e-Transfer†.
What happens when an INTERAC e-Transfer† cannot be received?
The sender will be notified by e-mail when an INTERAC e-Transfer† cannot be completed because:
- The recipient declined the transfer.
- The 30-day time period for the recipient to claim the transfer has expired.
- The e-mail address you entered for your recipient is invalid. See FAQ #3.
- The recipient was unable to answer the security question.
Once the sender receives this notification, they can follow the links in the message to cancel and re-deposit the funds. Service charges are non-refundable.
I keep getting an error message when sending or receiving an INTERAC e-Transfer†.
There are several error messages which can be generated while using the INTERAC e-Transfer† feature, which may include the following:
- Exceeds sending / receiving limits, for a single transaction, a week or a month.
- The account you are attempting to send from or deposit to is restricted from use with this feature.
- The communication between Internet Banking and your credit union’s banking system has timed out.
For assistance with these issues, please contact Luseland Credit Union Ltd.
Learn More:
Looking for more information? Visit the INTERAC e-Transfer† homepage for more information on how this feature works, or contact us here.
A list of participating financial institutions can be found here.