How do I receive money using the INTERAC e-Transfer service?
When a person or business sends you money using Interac e-Transfer®, there are three ways the funds can be received and deposited into your TD account:
1. Autodeposit
If you have registered your email address for Autodeposit, and the Sender used your email address, and the transaction is successful, the money will be deposited into your account automatically without the need to answer a security question.
Direct to Account transactions will be deposited automatically into the eligible TD account number with no further action needed from you. At the sender's discretion, you may receive a notification from Interac by email or SMS/text message.
3. Using the security question
If you are sent money to your email or mobile number using Interac e-Transfer and are not registered for Autodeposit, you will first need to answer a security question provided by the sender in order to deposit the funds
To deposit the money you received:
Open the Interac email or text message link and select TD to log into EasyWeb or the TD app
Enter the correct answer to the Security Question and move to the next step.
Select an account to deposit the funds. Note: on the TD app, Steps 2 and 3 are in reverse order.
Review and confirm the information that you have entered.
Press Deposit Now to finish the transaction
That's it! Your money has been deposited and a confirmation number is provided. The sender will be notified by email and/or text that the transaction was completed.
If you are expecting an Interac e-Transfer transaction and have not received an email and/or text from Interac e-Transfer services, check your 'Junk' mail folder. Contact the sender if you are expecting a Direct to Account transaction.
You can also receive money using the "Request Money" feature from an individual or a business.
Please note that the answers to the questions are for information purposes only for the products discussed. Individual circ*mstances may vary. In case of discrepancy, the documentation prevails.
Interac is a Canadian interbank network that links financial institutions and other enterprises for the purpose of exchanging electronic financial transactions. Interac serves as the Canadian debit card system and the predominant funds transfer network via its e-Transfer service.
e-Transfer by email or SMS text message. To deposit the money, select the link in the email or text message notification you receive from Interac and follow the instructions.
How to Receive an Interac e-Transfer: If you are set up for auto deposit the money will go directly into your account.If not, you will receive a link via text message or email. Click through the link, answer the security question and choose which bank account you want to deposit the funds into.
Interac e-Transfer is not available in the United States but it is possible to send money from a Canadian bank to the U.S. via Interac's partnership with MasterCard and Western Union.
When you send or request money via Interac e-Transfer, the funds are transferred through established and secure banking procedures that banks and credit unions have used for years. Money never travels by email or text – these are simply used to notify you about the transaction, as well as provide deposit instructions.
For instance, Interac e-Transfer is the Canadian equivalent to Zelle, providing instant person-to-person transfers via bank and credit unions. As of 2023, Interac e-Transfer has 250 participating banks and credit unions. (It lists Desjardin Group, a federation of 213 credit unions, as a single entity).
Navigate to the Interac e-Transfer section and look for the “Autodeposit” option in the settings. Enter your email address and/or mobile number along with the account you want them associated with. This will determine which account funds will be deposited into.
Interac Debit is made to be a simple, secure, and easy way to pay for your everyday purchases, and is accepted across Canada and approximately 2 million retailers in the United States.
The text message notification should always be received from +1 00001 with text: 'INTERAC e-Transfer: (name of sender) sent you money'. The email notification should always be received from [email protected] with subject line: 'INTERAC e-Transfer: (name of sender) sent you money'.
You can't use Zelle in Canada - it's for payments between US based banks only. Use this handy guide as a way to find alternative providers to make convenient, low cost, online and mobile payments to Canada.
One further distinction is that EFTs can only be used to transfer money between bank accounts in your name, whereas Interac e-Transfers can be used to send money to a third party—like the colleague who spotted you lunch money the day you forgot your wallet.
When someone sends you money via Interac e-Transfer, you will receive an email or text message that a transfer has been sent to you. The notification includes information such as: Sender's name. Transfer amount.
Sending money internationally with Interac e-Transfer involves you initiating a payment via your online banking, which is then sent to your recipient for collection in cash at a Western Union location near to them.
Zelle is not currently available in Canada. According to its website, to use the Zelle payment platform, “the sender and recipient's bank account must be based in the U.S.” When sending money via Zelle to a mobile phone number, it must be registered in the U.S.
Bank account. Loved ones back home can receive money from the US directly if they hold bank accounts with the likes of Royal Bank of Canada and Bank of Toronto. Explore your options.
Cash pickup. Our Canadian agent locations are ideal for receiving money from the USA in cash. There are more than 2,7001 across the country.
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