A how-to guide for email transfers

07 July 2022 by National Bank
Photo of a man using his cell phone

Email money transfers are a quick and easy way to send money to an individual or some businesses. You can use it to pay rent, send a gift to a loved one, repay a friend or help a child who is travelling abroad.

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.

  1. To get started, sign in to your online bank, then click Send money in the left menu.

  2. 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.

  3. 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.

Legal disclaimer

Any reproduction, in whole or in part, is strictly prohibited without the prior written consent of National Bank of Canada.

The articles and information on this website are protected by the copyright laws in effect in Canada or other countries, as applicable. The copyrights on the articles and information belong to the National Bank of Canada or other persons. Any reproduction, redistribution, electronic communication, including indirectly via a hyperlink, in whole or in part, of these articles and information and any other use thereof that is not explicitly authorized is prohibited without the prior written consent of the copyright owner.

The contents of this website must not be interpreted, considered or used as if it were financial, legal, fiscal, or other advice. National Bank and its partners in contents will not be liable for any damages that you may incur from such use.

This article is provided by National Bank, its subsidiaries and group entities for information purposes only, and creates no legal or contractual obligation for National Bank, its subsidiaries and group entities. The details of this service offering and the conditions herein are subject to change.

The hyperlinks in this article may redirect to external websites not administered by National Bank. The Bank cannot be held liable for the content of external websites or any damages caused by their use.

Views expressed in this article are those of the person being interviewed. They do not necessarily reflect the opinions of National Bank or its subsidiaries. For financial or business advice, please consult your National Bank advisor, financial planner or an industry professional (e.g., accountant, tax specialist or lawyer).

Tags :