How do I use Interac e-Transfer safely?
Interac e-Transfer is a legitimate and widely used way to send money between Canadian bank accounts. The key safety rules are: only send money to people you know personally, always double-check the email address or phone number before sending, and set a security question with an answer only the recipient knows (call them to tell them the answer — do not include it in the message). The biggest risk with e-Transfer is sending money to a scammer who is pretending to be a trusted person. Remember: once sent, e-Transfers are very difficult to reverse. Autodeposit is safe and convenient — it deposits funds automatically without requiring a security question.
What to do
- Log in to your bank's app and look for the 'Interac e-Transfer' option.
- Enter the recipient's email address or phone number — double-check it carefully.
- Set a security question with an answer only they would know.
- Call or text the recipient separately to give them the security answer.
- Confirm the amount and recipient before hitting Send.
- Save your confirmation number in case there is a dispute.
The 3-Second Rule
Never send an e-Transfer to someone asking for payment by e-Transfer for a purchase you made online — this is a common scam. Use secure checkout instead.
Important Warning
e-Transfers are very difficult to reverse once sent. If you sent money to a scammer, call your bank immediately — but act fast, as there is a limited window to cancel.
Learn More
Go deeper with our full lesson: Module 6: Banking & Transactions.