Whether it is to send some cash or to receive urgent funding, email money transfer is a great option for everyone. Sending or getting cash has become much easier and more convenient with Interac e-Transfer.

This way you may pay for rent, cover necessary bills, send funds to the contractor, or even split the dinner bill with your friends – the choices are endless. There are no cheques and no cash needed. The whole process is conducted on the web and takes little time. How does e-transfer work? Learn all the details and try this option in Canada.

What Is E-Transfer?

Do you want to pay someone back or share expenditures? E-Transfer is a wonderful tool for making easy and quick electronic money transfers across Canada and even internationally. You can easily request, send, and obtain money from contractors, family members, or friends. In this article, we will talk about how to do an e-transfer from the comfort of your home.

Provided that both you and the recipient have a valid account at a Canadian bank or any other partnering financial institution, you can use this option for simple money delivery. It’s as easy as sending a regular email. This process requires minimum time and can be carried out from a person’s phone, tablet, or computer.

It’s comfortable to use this tool with extra features such as Request Money and Autodeposit. How to do an e-transfer internationally? You can send funds overseas from the comfort of your home with a Western Union and Mastercard.

How to E-Transfer Money

As it was mentioned above, there are two ways to utilize this tool – you may either receive or send funds.

• How to receive e-transfer. If you find yourself in a tough monetary situation as need a quick helping hand with your personal finances, e-transfer payday loans in Canada can save the day. They are meant to support borrower’s needs without making them go outside and wait in the queues at traditional banks. Forget about tedious paperwork and multiple application documents. Learn how to e-transfer here and obtain any sum you urgently need. The whole process is digitalized so you just need a smartphone or computer to receive quick funds via email.
• How to send e-transfer. Whereas 24/7 payday loans are designed to help consumers obtain fast funding, there is also an opportunity to send money. You can use this option when you need to pay a contractor, cover bills, pay for rent, send some funds to your friends and family, or simply need money now. Learn how to transfer money through email and you won’t need to search for the ATM in your area as everything is performed on the web. It is safe and secure to use this tool.

How to Set Up E-Transfer

Once you decide this is a useful tool for you to send or receive the funds, you will need a few things to begin the process. In order to send the money via email, both you and the recipient should have a valid phone number and email address, as well as an active Canadian bank account. The majority of banks in Canada cooperate with Interac e-Transfer so it isn’t a problem.

In order to learn how to send an e-transfer you should:

• Access send money. Interac navigation menu can be found in your bank account details. Almost every Canadian bank partners with this program and allows its clients to send and obtain funds via e-transfer. Select the “send money” option here.
• Fill in necessary data. The dropdown menu will allow you to choose the valid bank account for sending money and enter all the necessary information to start the process. You should enter the sum you want to send. Pay attention to the e-transfer limit. Choose the business or the person you are about to send money to. Enter his or her full name and an active phone number and/or email address.
• Set up a security question. Try to come up with a unique question that won’t be easily guessed and tell the correct answer only to the recipient. Pay attention to this step as the person who enters the correct answer to the security question will be able to withdraw the funds. The answer to this question should be from 3 to 23 letters or numbers.
• Check data and finish the transaction. Review all the information you’ve just entered to make sure there are no errors or incorrect information. If necessary, choose the Back button to make any changes. If everything is accurate, click on the Send Money button. The recipient will get an SMS notifying him or her about the money transfer. If they have an Autodeposit feature the funds will be deposited into their bank account straight away

Bonus post: read about how to check your credit report for free.

Benefits of E-Transfer

There are many advantages of choosing email transfer for sending or receiving personal funds. Firstly, you have a chance to conduct this process quickly with no hassle. It is easy and fast to receive extra funding, obtain emergency cash, or send personal funds to your friends and family. Secondly, this process is safe and secure as the money is delivered with the help of reliable banking systems.

Finally, you can correct the mistakes at any time. How to cancel an e-transfer if you’ve made an error? You may do this while the process is pending (it means the recipient hasn’t acquired the funds yet). If the recipient has set the Autodeposit feature and obtained the funds immediately, you won’t be able to cancel it.

How to cancel an e-transfer and how much does it cost? You will need to pay a $5 fee and you may request the cancellation before 12 am EST within the same day.

In conclusion, e-transfer is a great way to send or obtain urgent funds from your office or home. How long does an e-transfer take? It takes a few minutes while the funds are directly deposited to the bank account of the recipient.

This way you may not only pay the bills, cover rent payments, or send money, but also acquire lending options and take out small 24/7 payday loans in the form of e-transfer. Value your time and choose the best option now!