Send Money using Interac e-Transfer (2024)

FAQs

Send Money using Interac e-Transfer? ›

Step 1: Sign into online or mobile banking and look for the Interac e-Transfer option. Step 2: Add a payee, you will need their email address and/or mobile phone number. Step 3: Enter the amount of money you would like to send them from the account you want to send it from.

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.

International Transfer by Mastercard^® and Interac

You can send money to more than 75* countries worldwide from your Canadian bank account. *Will vary by financial institution. For current list of countries, please contact your financial institution.

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.

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.

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.

Interac e-Transfer is a fast and convenient way to send or receive money within the security of your online or mobile banking service — and you can use it to transact with a friend, a business, a charity, a babysitter …

Before you start, you'll need:

A Canadian bank account with a participating financial institution.

Can I zelle to Canada? ›

No. 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.

Unfortunately, Venmo is not available in Canada. Thankfully, there are several alternatives that you can use instead. In this article, we'll look at Venmo alternatives like Wise - a platform designed to provide an enhanced experience for sending and receiving money locally and globally.

One of the safest, most efficient ways to move money from your account into someone else's is to send a wire payment through your financial institution. Wire payments between Canadian financial institutions are protected by a strong legal framework that enables trusted near real-time payments across Canada.

To be successful Interac requires a strong Banking system with nation wide coverage and good communications & willing to accept progress . While the US has some large Banks they don't seem to be as up to date on technology or as customer friendly as Canadian ones .

Interac e-Transfer is only available within Canada, which means both you and the recipient must have a Canadian bank account that is partnered with Interac. (The majority have.) Limits: Most institutions do have transaction limits.

Funds can be sent with Visa Direct or TD Global Bank Transfer from your Canadian-based personal bank account with TD Canada Trust to your U.S. based personal bank account with TD Bank America's Most Convenient Bank using the TD app.