An Interac e-Transfer allows you to send money by email directly from your BlueShore Financial account through Online or Mobile Banking to anyone in Canada who has an email address and an account with a Canadian bank or credit union.

To send an Interac e-Transfer all you need to know is the other person’s name, email address and/or mobile phone number. You don’t need to know their account number or even which financial institution they deal with; no personal or financial information is exchanged.

If you have an email address or mobile phone number and a chequing or savings account with BlueShore Financial, you are ready to receive Interac e-Transfers. Once you accept the transfer, the funds are deposited directly into the account you select.

Certain security and banking protocols need to occur before notification of a transfer can be sent to the recipient. Under normal circumstances, the recipient should receive notification within 15 minutes of the transfer request being submitted. Funds are deposited directly into the recipient’s account as soon as they accept the transfer.

The following limits apply when sending funds through Interac e-Transfers:

• Transaction limit: $3,000
• Daily or weekly limit: $10,000
• Monthly limit: $20,000

Email and mobile text messages only serve as notifications and provide recipients with instructions how to deposit the money. The actual transferring of the funds is handled behind the scenes through established and secure banking procedures. The sender creates a security question known only to you and the recipient to ensure the funds can only be deposited by the intended party.

Pro Tip: Communicate the password to the recipient through a secondary means such as a text message or phone call. The password you create should always be difficult to guess in the event the recipients' email is compromised.

Although you want to set up a security question known only to you and the recipient, sometimes this is not practical. In these cases, it may be necessary to communicate this information to the recipient by text message or by phone.

Pro Tip: Never include the password in the e-Transfer message field.

The Interac e-Transfer program will produce a printable receipt when you initiate a transfer. You will also receive a confirmation e-mail advising you that the transfer has been accepted or declined.

A non-refundable $1.50 fee will be automatically withdrawn from your account at month-end. The fee still applies in the event you cancel the transfer or it is declined by the recipient. (Note: Interac e-Transfers are free with the Premium Chequing account and Unlimited Chequing account.)

There are no fees for our clients to receive Interac e-Transfers.

Yes. As long as the recipient has not accepted the transfer, you can cancel the order and the funds will be automatically deposited back into your account. If they have already accepted the transfer, you cannot cancel the order.

Yes, in which case the money will be transferred back automatically into your account.

The recipient has up to 30 days to accept the transfer and deposit the money into their account. If they exceed this time limit, as the sender you will receive an email notification advising you that you have an additional 30 days to cancel the order. If you don’t cancel the e-Transfer within this time period, the credit union will initiate a manual process to deposit the funds back into your account.

Click on the Pending Interac e-Transfer link to send a reminder any time during the 30 days after initiating the transfer. After 30 days, the recipient cannot accept the transfer.

No. Interac e-Transfers can only be sent in Canadian dollars and to account holders of participating financial institutions located within Canada.

Yes they can; however, access to this service will depend on how your Business Account Operating Agreement has been set up. If you are unable to complete an e-Transfer, please contact your branch or our Solution Centre at 604.982.8000 (1.888.713.6728) for assistance.