Interac® e-Transfer

Interac e-Transfer allows you to send and receive money quickly and securely using a computer or a mobile phone. Send funds to your son or daughter away at school or pay your share of a meal out, Interac e-Transfer makes it easy.

It's a service offered via Interac that allows you to send money quickly and securely via the Internet to anyone with a Canadian deposit account that has either an email address or a mobile phone with the ability to browse the Internet.

Central 1 Credit Union has a video on YouTube explaining e-Transfers. To view the video before getting started, please click here.

Getting started

All you need is your recipient's name, email address or mobile phone number, and know that they have a deposit account with a Canadian financial institution.

  1. Log in to online banking. (If you haven't signed up for online banking with MemberDirect®, visit us in-branch and we'll get you started.)
  2. Select Transfers from the menu bar and then Send Interac e-Transfer
  3. Set up your profile as indicated. (Note: you only need to provide your email address or mobile phone number, but you can provide both - it's up to you.)
  4. Set up your recipient's profile. (Again, you only need to provide an email address or a mobile phone number.)

Once you have your profile and a recipient's profile, you can send an Interac e-Transfer. The amount sent and a $1.50 Interac e-Transfer fee will be transferred out of your account when you click Send Transfer. (Along with any other transaction fees associated with your account.)

Interac e-Transfers take about 30 minutes to reach the recipient.

Your recipient will receive an email or a text message letting them know they have received an Interac e-Transfer of money from you. They then simply need to follow the prompts and successfully answer your security question to deposit the funds in their account. They will not be charged for receiving your Interac e-Transfer.

You can click the Pending Interac e-Transfer button to check the status of your Interac e-Transfer. If it's been awhile and your recipient has not deposited their Interac e-Transfer, you can send them a reminder from here.

You cancel your Interac e-Transfer up until the time your recipient deposits your Interac e-Transfer into their account. Just click on the Cancel Interac e-Transfer button.

If your recipient refuses your Interac e-Transfer, an email or text message will be sent to you to let you know. You then need to cancel the Interac e-Transfer by following the prompts at the Cancel Interac e-Transfer button. If you don't cancel the Interac e-Transfer the funds will automatically be returned to your account 67 days from when you sent the transfer.

SASCU sending limits

· $3,000 per transaction
· $10,000 weekly limit
· $20,000 monthly limit

SASCU receiving limits

· $10,000 per transaction
· $10,000 daily limit
· $70,000 weekly limit
· $300,000 monthly limit

Call, visit or email us today if you have any questions about Interac e-Transfer or any of our other services.