You can send an e-transfer directly from your Cash account to anyone who does not use Wealthsimple Cash.
Before sending an e-transfer
Sending an e-transfer is like sending cash. You should always be cautious when sending or receiving money. Here are some things to think about before sending an INTERAC e-transfer:
Sending an e-transfer is like sending cash. You should always be cautious when sending or receiving money. Here are some things to think about before sending an INTERAC e-transfer:
- Only send money to contacts you know and trust. Once you submit an INTERAC e-transfer and the recipient deposits the funds, there is no way to reverse it.
- If your transfer requires a password, choose one that cannot be easily guessed or found. Be sure to share it through a safe channel.
To send an e-transfer to a new or existing email contact, follow these steps:
- Log in to your Wealthsimple mobile app
- Tap the Home tab
at the bottom of your screen
- Select your Cash account
- Tap Send or request
- Tap Send money
- Select INTERAC e-transfer
- Search for and select your contact’s email, or tap Send to a new contact to send to a new recipient
- If the recipient does not have auto-deposit enabled, you'll be prompted to create a security question and answer, then tap Next
- If you wish to schedule the e-transfer for a future date, tap the Date dropdown to select a future date
- Enter the amount you wish to send, and tap Next
- Follow the prompts to send your e-transfer
Note: The e-transfer will come through from Peoples Trust.
Check the status of your e-transfer
To check the status of an e-transfer you sent, follow these steps:
- Log in to your Wealthsimple mobile app
- Tap the Activity tab
at the bottom of your screen
- Select the e-transfer under your Activity
- Tap your e-transfer to check the status
Note: If your e-transfer has been In Progress for longer than 30 minutes, it is likely that the e-transfer has been held by an intermediary. Our team is currently working on resolving this in order to release the funds, which may take up to one business day.
Cancel a pending e-transfer
To cancel a pending e-transfer, follow these steps:
- Log in to your Wealthsimple mobile app
- Tap the Activity tab
at the bottom of your screen
- Select the e-transfer under your Activity
- Tap Cancel
Note: It takes around 10-15 minutes to process cancelling an e-transfer. Once successfully cancelled, the e-transfer will show up as Expired. E-transfers that are auto-deposited into the recipient's account are not cancellable.
Cancel a scheduled e-transfer
Scheduled e-transfers can be cancelled by following these steps:
- Log in to your Wealthsimple mobile app
- Tap the Home tab
at the bottom of your screen
- Select your Cash account
- Tap Send or request
- Tap Send money
- Select INTERAC e-transfer
- Tap the Scheduled tab
- Select the e-transfer you wish to cancel
- Follow the prompts to cancel your e-transfer
Note: You can cancel your e-transfer until 5:30am EST on the scheduled date. After this time, e-transfers cannot be cancelled.
E-transfer sending limits
E-transfer limits on Cash are the same as the standard send limits on Cash. We won’t complete any transaction that goes over the send limits. We have listed the limits below:
Timeframe | Sending limit |
Per day | $5,000.00CAD |
Per week | $10,000.00CAD |
Per month (30 days) | $30,000.00CAD |
E-transfer security question
To reference a previous question and answer on a pending e-transfer, follow these steps:
- Log in to your Wealthsimple mobile app
- Tap the Activity tab
at the bottom of your screen
- Select the e-transfer in your Activity feed
Note: You cannot edit your security question and answer on a pending e-transfer.
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