Interac e-Transfer

What Is It?

Interac e-Transfer® is a convenient way to send, request and receive money directly from one bank account to another. All you need is access to online banking, and you can send or request money to anyone with an email address or mobile phone number and a bank account in Canada — without sharing any personal financial information.

Autodeposit & Request Money Features

Use Interac's Autodeposit and Request Money features to make e-Transfers even easier!

Autodeposit allows the money you have been sent (via Interac e-Transfer) to be automatically deposited directly into your bank account, without having to answer a security question. For senders, Autodeposit allows money to be sent without needing to convey security answers.

The Request Money feature allows you to ask someone for the money they owe. When you send a request for money, the recipient is notified instantly and can accept the request. If accepted, the requested amount will be automatically deposited into your account and you will be notified when funds are available.

Want more on these new features? Check out Interac's FAQ section.

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 repairs

Key Benefits

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


  • Your personal information is secure – email or text is used for communication purposes, but your funds are contained in our secure banking network
  • No account numbers or other Financial Institution information is required
  • A security question of your choosing protects your funds from being received by the wrong person

Limits and Fees

Sending Limits:

  • Per Transaction : $3,000
  • Per Week: $10,000
  • Per Month: $20,000

Receiving Limits:

  • Per Transaction: $10,000
  • Per Week: $70,000
  • Per Month: $300,000


    • Sending an e-Transfer: Free*
    • Receiving an e-Transfer: No Fee
    • Cancel an e-Transfer: No Fee

    *Sending an e-Transfer is free, until you reach your account's number of free monthly items (for packaged accounts).  Once the free monthly items limit has been reached, per item transaction fees are incurred ($0.65 on personal accounts, $0.80 for business accounts).  For non-package accounts, e-Transfer fees are the same as per item transaction fees.

    Interac e-Transfer can only be used for Canadian funds and is not yet available for Small Business Online Banking.

    Questions? Visit the Interac e-Transfer for Consumers or contact us! 

    How to Send an Interac e-Transfer

    1. Log into Diamond North Credit Union Internet Banking and navigate to the “Transfers” screen.
    2. Set up your sender profile and add your recipient – make sure to create a security question that only your recipient knows the answer to.
    3. Choose how to notify your recipient, the amount you wish to send and which account the funds will be transferred from. You can also choose to send a special message or memo to your recipient.
    4. Send! The funds are debited from your account immediately.
    5. Your recipient will receive notification that you have sent them an Interac e-Transfer, and will follow the links provided in the email or text message to deposit their funds.
    6. Once they have answered the security question correctly, they can deposit the funds immediately – no holds, no hassle!
    7. If your recipient’s financial institution does not subscribe to the Interac e-Transfer service, it’s no problem! They can still receive their funds by following the link to the Interac Association's website, at which time they will be asked to create or log into their existing account with Interac Association.
    8. Once logged in, Interac Association will proceed to deposit the transfer into their chequing or savings account (which usually takes 3-5 business days). For non-participating financial institution deposits, a $4.00 service fee will be deducted from the transfer amount.

    Please note: Once the transfer is sent, it takes approximately 30 minutes for the recipient to receive the notification. At that time, the status of the transfer will change for the sender giving them the ability to cancel the transfer or resend the notification. These options are not available until approximately 30 minutes after sending the transfer.

    An Interac e-Transfer cannot be reversed once the recipient of the funds has deposited the transfer. You must obtain a refund directly from the recipient. You can ask the recipient to send you an Interac e-Transfer for the refund amount.



    eTransfer Limits