In Canada, this service is primarily offered by Interac, in collaboration with over 255 financial institutions, including National Bank. To use it, both the sender and recipient must have a Canadian bank account.
Here is how this payment method works.
Send a money transfer in 3 easy steps
To carry out a transfer, you must have a bank account at a participating financial institution with Interac e-Transfer®, and be signed up for online or mobile banking services.
- To get started, sign in to your online bank, then click Send
money in the left menu.
- Select a recipient, or add one by clicking Add a recipient.
Then, select Interac e-Transfer® and enter the
following information: the recipient's name, email address or
mobile number, delivery method, language of preference and
expiration date of your debit card.
- Select the account from which you want to make the transfer, then
enter the amount to send, the security question and the answer.
Validate everything and you're done!
You don’t need to provide the recipient’s banking information. However, don’t forget to share the answer to the security question with them so they can claim their money.