How do I reclaim an INTERAC e-Transfer and deposit it back into my account? (2024)

FAQs

How do I reclaim an INTERAC e-Transfer and deposit it back into my account? ›

If you are not registered for Autodeposit, you can deposit money received via Interac e-Transfer through online or mobile banking. Simply click the link in the notification you receive, select your financial institution, login to online banking and deposit the money into the account of your choice.

If you are not registered for Autodeposit, you can deposit money received via Interac e-Transfer through online or mobile banking. Simply click the link in the notification you receive, select your financial institution, login to online banking and deposit the money into the account of your choice.

Unfortunately, once a deposit has been made there is no way to reverse the transaction.

If you do not cancel an unclaimed Interac e-Transfer within 15 calendar days after we've notified you of its expiry, we will return the funds to your account and apply a $5.00 reclaim fee. Visit our Online Banking Security page for more information on RBC Online Banking's security measures.

If the recipient declines the Interac e-Transfer, the sender will receive an email and/or text notification that the Interac e-Transfer was declined. The funds should be deposited back into the sender's account automatically. You entered an invalid e-mail address of the recipient or the transfer was incomplete.

Can I reverse a bank transfer - or can my bank? Online payments, like Faster Payments, transfer money in real-time. Once a payment has been made, you can't stop or reverse it. You have to go through the process of trying to get the money back from the recipient and rely on their cooperation.

It is not possible to get the money back without the consent of the wrong beneficiary. The process is a little tough, but he/she has to accept that there was a wrong transaction made to his/her account.

The electronic Automated Clearing House (ACH) network facilitates everything from monthly bill payments to direct deposits for paychecks. Account holders and merchants who encounter issues with ACH payments can stop or reverse them, unlike wire transfers which are usually irreversible.

Can you use Interac e-Transfer outside Canada? ›

Interac e-transfers are only available in Canada for individuals who have Interac-partnered bank accounts (most of them). So, no you cannot use Interac e-Transfer in the U.S. That being said, Interac does have a collaboration with Mastercard and Western Union to allow Canadians to send International Transfers.

The Interac e-Transfer amount is automatically deposited into the account number provided without further action from you. Once sent, you cannot stop, cancel or recall the transaction. When you send a Request Money, CIBC may send a notice to the email address or the mobile telephone number you provide.

Interac e-Transfers expire 30 days after they are sent and the recipient will not be able to deposit the funds after that time. The sender will receive an email or text message with instructions to re-deposit the funds.

In short, yes. An Interac e-transfer can be reversed. However, it depends on how long it's been since you sent the e-transfer, if it's been accepted, or if it was done through auto-deposit. If the recipient has not accepted the e-transfer, then you are able to go into your pending interac e-transfers and cancel them.

“Then you can personally visit the concerned bank and talk to the manager. You may have to produce all proofs and communications regarding the incorrect transaction. The bank manager will then contact the wrong recipient and request that the incorrect credit is re-transferred to you”, the bank added.

If you sent an Interac e-Transfer and did not receive any goods/services, you will need to contact your financial institution and local law enforcement agency to file a fraud report. If you suspect fraud or a scam, please forward the email you received to [email protected] or call 1-888-238-6433.

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.

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.