Whether it’s to pay back a friend or help out a family member, Interac® e-Transfer is the perfect way to send money quickly and securely. It’s easy, convenient, and free of charge1 when you have a transaction plan with Desjardins. Even thoughInterac ee-Transfer is one of the most secure ways to send money, no one is safe from scammers. But you can outsmart them by staying on your toes. Since this method has become a popular way to send money in recent years, here are some good habits to get into to keep your transfers secure.
Picture this:You’ve just moved into a new place and, to make life easier, you usedInterace-Transfer to pay your rent. Great idea! But instead of going to your landlord, the funds end up being deposited into someone else’s account. How could that happen? A scam artist easily found the answer to your security question after successfully intercepting the email you sent your landlord to let them know about the transfer. And there’s nothing you can do! TheInterace-Transfer can’t be cancelled once the funds have been deposited into the recipient’s account.
You can prevent this kind of scenario by taking a few precautions. Be creative in choosing your security question.If you put "blue" as the answer to the question "What colour is the sky?", you're not making a very secure choice, even if it's a rainy, grey day. And never include your answer in the email you send the recipient. If you’re worried they won’t know the answer to your security question, let them know another way—preferably by speaking to them.
You should always be extra careful with financial transactions, because scam artists are never short on inspiration. Here are some examples.
As an example, here's how you can verify information when you send an Interac e-Transfer to someone registered for Autodeposit:
Interac e-Transfer Request Money: A little-known feature
There's a new scam making the rounds with sellers on online resale sites. You post an item for sale, and a buyer contacts you saying they're interested and pressures you to sell them the item quickly using Interac e-Transfer. Sometimes they offer to pay more than your posted price or even send you a deposit to reserve the item. Then you receive a message in English or French from Interac notifying you that the buyer "sent you a request for $X (CAD) / vous a envoyé une demande de $X (CAD)." But be careful—that's not a request to deposit money, it's a request to withdraw it!
Interac has a lot of features, including ones that let you send and request money3. Most people aren't familiar with the Interac eTransfer Request Money feature, and scammers take advantage of that fact. Keep an eye out and refuse these kinds of requests, because you won't receive any reimbursem*nt for this type of fraud.
And there you have it—everything you need to know to sendInterace-Transfers worry-free.
