When you send money using the Interac e-Transfer service all your recipient needs is a Canadian dollar account at a Canadian Financial Institution, and an email address.
Right for you if:
You need a quick and secure way of sending or receiving money electronically
You want to move money to or from any Canadian bank account
How it Works
Sign on to Scotia OnLine and select the "Interac e-Transfer" navigation link within the Banking tab
Key the email address of the person you want to send money to
Create a Security Question that only the person you are sending money to will be able to answer
Key the amount you want to send, and the account from which you want to withdraw
The money is withdrawn from your account, and an email notification is automatically sent to the email address you provided
The other person clicks on a hyperlink in the email, and they are taken to their online banking sign on page
After signing on and answering your Security Question, they can deposit the funds immediately to their account*. No holds, no hassles, and the funds are guaranteed.
Note: Any regular Service Fees associated for a debit transaction will also be charged when you are sending an Interac e-Transfer from your Scotiabank account.
*In order to receive an Interac e-Transfer immediately, the recipient must bank online with Scotiabank, BMO Bank of Montreal, CIBC, President's Choice Financial, RBC Royal Bank, or TD Canada Trust. Customers should check with those banks, as terms and conditions may vary. If the recipient does not bank online with one of those banks, they will experience a delay of several days in receiving their funds, and they may be charged a fee in order to receive the funds.