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Westoba Credit Union

e-Transfers® FAQs

Q1. What is Interac e-Transfer®?

A1. An Interac e-Transfer® allows Westoba members to send, receive or auto-deposit money through online banking. It’s a fast, secure and convenient way for electronic money transfer within Canada. To send Interac e-Transfer®, all you need is an email address, online access to your Westoba account and the email address or mobile phone number of the person that you are sending money to.


Q2. Is Interac e-Transfer® secure?

A2. Yes. No actual money is transferred via email or text message, just a notification that a transfer has been initiated along with helpful instructions on how to complete the transaction and deposit the money. The money is exchanged using established and secure banking procedures.


Q3. Is there a charge associated with sending, requesting, autodepositing or receiving, an Interac e-Transfer®?

A3. Depending on your account package, when you request or send an Interac e-Transfer®, a service charge of $1.50 may be withdrawn from your account. Autodeposit and receiving an e-Transfer® is free for Westoba members; recipients that bank with other financial institutions may be charged a fee from their institution to receive an e-Transfer®.


Q4. How do I get started using Interac e-Transfers®?

A4. Log into online banking, Desktop users will click “Transfers” then “Send Interac e-Transfer” or mobile users will simply select “Interac e-Transfers.” From there you will be prompted to create your sender profile and can start sending e-Transfers right away. Please see our online guide if you need help with specific tasks.


Q5. Do I need to install an application on my phone or computer to send or receive an Interac e-Transfer®?

A5. No. All transfer initiation and completion steps are done through the web browser on your computer or mobile. The WestobaGO app, however, is a faster and more convenient method.


Q6. What is the significance of a security question?

A6. Requiring the recipient to answer a security question helps verify their identity and protects your funds from being received by the wrong person. The security question must be a single word comprised of letters and numbers. It cannot contain spaces or special characters and should be kept confidential between the sender and the recipient and should never be sent in the message section of the e-Transfer.


Q7. How long does it take to send or receive an Interac e-Transfer®?

A7. An email or text message is sent nearly immediately upon the sender completing the transaction; it may take up to 30 minutes to reach the recipient. Once the recipient receives this message, they can complete the transaction and deposit the money.


Q8. Are there limits on how much I can send and receive through Interac e-Transfer®?

A8. Yes. Like all financial institutions, Westoba has transfer limits.

For information on e-Transfer limits, please reach out to our Virtual Services team at 1-877-WESTOBA or visit any local branch.


Q9. Can I cancel an Interac e-Transfer® after I send it?

A9. You can cancel an e-Transfer up until the recipient deposits the money. Please see the instructions here. There is a fee for this, please review Services Charges and Fees document on the WestobaONE FREE Chequing Account page.


Q10. Where can I see my Interac e-Transfer® history?

A10. History is available only through the desktop (non-mobile) site. Please see the instructions here for desktop users.


Q11. How long does the recipient of an Interac e-Transfer® have to deposit the money?

A11. The recipient has 30 days to complete the transaction and deposit the money. If the recipient does not deposit the money within 30 days, the sender is notified and is given 30 days to cancel the transaction and reclaim the funds. If the sender does not cancel the transaction within this time period, the e-Transfer will be canceled on their behalf and the money (minus the service charge) will be returned to the sender’s account. It can take up to seven days for this return of funds.


Q12. Can the recipient of an Interac e-Transfer® refuse to accept it?

A12. Yes. A recipient can refuse an e-Transfer. The sender is then notified (including an optional message from the recipient) of the refusal and must cancel the transaction to reclaim the funds (minus the service charge).


Q13. Can I send/request an Interac e-Transfer® to/from anyone?

A13. You can, as long as the sender/recipient has access to email or text messages and an account with a Canadian financial institution that offers Interac r-Transfers. The sender/recipient will be able to follow the directions to complete the transaction.

If the recipient’s financial institution does not offer Interac e-Transfers, he or she can still accept the transaction by registering themselves through CertaPay (the company that looks after sending the transfer messages) via the link in the notification message and by providing their banking information in order for the money to be deposited into their account. There will be a fee deducted and this process will take between 4 and 6 days to complete.


Q14. What is Interac Auto-Deposit?

The Auto-deposit feature allows you to have money sent via Interac e-Transfer automatically deposited directly into your Westoba account, without having to answer a security question. The Auto-deposit feature continues to provide the value of Interac e-Transfer, without the need to share financial information.

For senders, there is added convenience of not needing to convey security answers while continuing to have the security of knowing who is receiving the funds, prior to sending.


Q15. Can I request payment for an invoice?

A15. Yes, you can. Enter the invoice number in the request Interac e-Transfer form before confirming the request. The sender will then be notified about your request.


Q16. What if I receive a request for the wrong amount of money?

A16. If your contact sent you the wrong amount request, please reach out to them directly. Alternatively, you can answer the security question and decline the transaction with a message that would be sent back to the receiver.