Overview
You can send an Interac e-Transfer® directly from your chequing account to new and existing contacts. You have the following options when you send an e-Transfer:
- Send a standard Interac e-Transfer transaction
- Send a one-time e-Transfer transaction to a temporary contact
- Schedule a future e-Transfer transaction
- Set up a recurring e-Transfer transaction
Things to consider before you send 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 e-Transfer:
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Only send money to contacts you know and trust. Once you submit an Interac e-Transfer and the recipient deposits the funds, there's no way to reverse it.
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If your transfer requires a password, choose one that someone can easily guess or find. Be sure to share it through a safe channel.
Send an Interac e-Transfer
To send an e-Transfer, follow these steps:
- Log in to your Wealthsimple mobile app
- Select your chequing account
- Tap Interac e-Transfer
- Select an existing contact, or tap Send to a new contact
Note: If the contact doesn't have auto-deposit enabled, you must create a security question and answer. Tap Next to continue. - Optional: Tap Today to choose a future date to send the e-Transfer
- Optional: Tap One-time to choose a recurring frequency for the e-Transfer
- Enter an amount to send
- Tap Next
- Follow the prompts to send or schedule your e-Transfer
- Log in to your Wealthsimple profile
- From the Home page, select your chequing account
- Select Send money
- Choose Send money via Interac e-Transfer
- Select a contact to send the eTransfer to, or select + Add contact to send to a new recipient
- Enter an Amount to send
- Optional: Select the Date to choose a future date to send the e-Transfer
- Optional: Select the Frequency to choose a recurring frequency for the e-Transfer
- Select Next to continue setting up your e-Transfer
Note: If they don't have auto-deposit enabled, you must create a security question and answer. Select Next to continue. - Select Send
e-Transfer sending limits
e-Transfer limits and standard send limits from chequing accounts are the same. We won’t complete any transaction that goes over the send limits below:
- Per day (24 hours): CAD $5,000
- Per week (7 days): CAD $10,000
- Per month (30 days): CAD $30,000
Increase your e-Transfer sending limits
Follow these steps to increase your e-Transfer sending limits:
- Log in to your Wealthsimple mobile app
- Tap your chequing account
- Tap Settings (gear icon) in the top right corner
- Scroll down to your e-Transfer sending limits
- Tap Increase limits
- Review the increased limits
- Tap Increase limits
Frequently asked questions
Why is my e-Transfer still in progress?
If your e-Transfer has been in progress for longer than 30 minutes, the e-Transfer has likely been held by an intermediary. It may take up to one business day for the funds to release.
I forgot the security answer I chose. Where can I find it?
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 to view the security question and answer
- Log in to your Wealthsimple account
- Select the Activity tab at the top of your screen
- Select the e-Transfer to view the security question and answer
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