Interac e-Transfer is a simple, convenient, and secure way to send and receive money directly from one bank account to another. All you need is access to online or mobile banking through a participating financial institution, and you can send money to anyone with an email address or mobile phone number and a bank account in Canada — without sharing any personal or financial information. It’s a great alternative to cheques and cash.
How it works?
- Sign onto your online banking account and select the “Interac e-Transfer” navigation link
- Enter the email address of the person you want to send money to and create a security question that only the person you are sending money to will be able to answer.
- Enter the amount you want to send and the account from which you want to withdraw. The money is withdrawn from your account and an email notification is automatically sent to the email address you provided.
- The other person clicks on a hyperlink in the email and they are taken to their online banking sign on page. After signing on and answering your security question, they can deposit the funds immediately to their account.
Setting Up An E-Transfer Recipient
Setting up Cannabisy as an e-transfer recipient takes only a minute and only has to be done once.
- Log into your online banking of your choice
- Navigate to your e-transfer portal, usually located in the main menu under “transfers"
- Click “Add recipient"
- Under the Name, enter “CBY"
- Under Email, enter “firstname.lastname@example.org"
- For the Security question please enter “What country are we in?" and enter the answer as “Canada"
Sending an E-Transfer
- Navigate to the E-Transfer portal on your online banking platform.
- Click Send E-Transfer
- Choose CBY as your recipient
- Enter your order amount
- In the notes please enter your order number. Take note, do not enter any other information as this can lead to the e-transfer being rejected.
- Send your e-transfer