Interac® e-Transfer Best Practices

Update your contact information

To facilitate our move to two-factor authentication security, we ask that you ensure that your contact information is up to date. This information includes your email and cellphone number.

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Remove Inactive Recipients

You should remove any recipients that you don’t plan on sending any recurring payments like for a private sale on Kijiji or similar platform. This helps remove the risk of accidentally sending funds that you meant for someone else. This helps keep your list of recipients more manageable and reduces the risk to your money.

Don’t Use Simple Or Easy To Guess Passwords

When sending an e-Transfer, don’t use any password that would be easy to guess or determine through elimination. This can include any info that could be readily found through your social medias or easily looked up online. Some examples include birthdays, hobbies, favorite member of the Beatles, etc.

Set Up Autodeposit

Setting up Autodeposit mitigates a lot of risk when receiving funds as it removes the email confirmation step which is when most scammers will try to access your email and steal the funds. This means your incoming funds are safe from interception by any ill meaning third parties.

Encourage Contacts To Deposit Funds Early

It may be tempting to put off depositing funds, but the window of time when a transfer is pending and waiting in your email is when it’s vulnerable to be stolen. Encourage contacts to deposit the funds as soon as possible or set up Autodeposit to reduce risk to the money you send. 


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