INTERAC e-Transfer

Transferring money can now be done quickly and securely with INTERAC e-Transfer! All you need is your recipient’s email address or mobile phone number to send money in just a few quick and easy steps.

When to use INTERAC e-Transfer:

  • Splitting the bill at a restaurant
  • Paying a roommate for your portion of the rent
  • Sending some birthday cash to a family member
  • Paying for everyday purchases such as housekeeping, babysitting, and home repairs
  • Transfer money in or out of your other Canadian Financial Institution accounts

Convenient and Simple to Use!

All you need is your recipient's email address or mobile phone number.  Send or receive a transfer from anywhere at any time using your computer or smartphone - Internet Banking is available 24 hours a day, 7 days a week.

Save Time and Money!

  • No need to wait for the transfer to be approved - your recipient can access funds quickly.
  • No more stops at the ATM or waiting for cheques to be cashed.
  • Lower cost than bank drafts or money orders.


  • Your personal information is secure - email or text is used for communication purposes but your funds are contained in our secure banking network.
  • No account numbers or banking information is required.
  • A security question of your choosing protects your funds from being received by the wrong person.

How to Send and Receive an INTERAC e-Transfer:

  1. Log into Oak Bank Credit Union Internet Banking and navigate to the "Transfers" page.
  2. Create your sender profile.
  3. Add a recipient - make sure to create a security question that only your recipient will know the answer to.
  4. Choose how to notify the recipient, the amount you wish to send, and which account the funds will be transferred from.
  5. Send!  The funds are debited from your account immediately.
  6. Your recipient will receive a notification that you have sent them an INTERAC e-Transfer, and will follow the link provided in the email or text message to deposit their funds.
  7. Once they have answered the security question correctly, they can deposit the funds immediately - no holds, no hassle! 
  8. If your recipient's Financial Institution does not subscribe to the INTERAC e-Transfer service, it's no problem!  They can still receive their funds by following the link to the Interac Association's site, at which time they will be asked to create or log into an account with Interac Association.
  9. Once logged in,  Interac Association will proceed to deposit the transfer into their chequing or savings account (which usually takes 3-5 business days).  For non-participating financial institution transfers, a $4.00 service fee will be deducted from the transfer amount. *Please note that there is a non-refundable fee of $1.50 to send an e-transfer. There is no cost to receive an e-transfer.*

Transaction Limits:

For security reasons, e-Transfer transactions are limited to the following:

Sending an INTERAC e-Transfer: Receiving and INTERAC e-Transer:
$3,000 in any single transfer $10,000 in any single transfer
$10,000 in any 7-day period $70,000 in any 7-day period
$20,000 in any 30-day period $300,000 in any 30-day period


For more details and instructions, you can downloand:

INTERAC e-Transfer User Guide.pdf

INTERAC e-Transfer Frequently Asked Questions.pdf

 Trade-mark of Interac Inc. Used under license.