Bulk Interac e-Transfer†
A convenient way to send multiple electronic payments in minutes, anywhere in Canada1.
Top 3 Benefits
Faster payments: Transfer multiple payments quickly and securely, with no cut-off times for submission.
Available 24 hours, 7 days a week.
Maximizes Productivity: Consolidate multiple payments into one bulk payment file;
without the need to obtain payee sensitive banking information.
Cost Effective: Eliminates the need to issue, track, and reconcile costly cheques.
Secure payments: Password-protected transfers with zero account information required.
Enhances transaction management and monitoring with customizable, detailed reporting functionality.
Perfect for payroll of temporary staff, emergency relief, charitable disbursements, rebates and incentive programs.
Simplify your payment process.
Scotiabank’s Bulk Interac e-Transfer† service is an electronic payment solution designed to simplify low-value, one-time or infrequent payments within Canada, without the need for your recipient’s bank account information.
- This service allows businesses to send CAD payments to multiple recipients via email or text message.
- After uploading a bulk payment file to Scotiabank, recipients will receive a notification and will be able to deposit funds directly into their CAD account at any financial institution in Canada.1
- Complete up to 10,000 payments in one single file, and up to $10,000-dollar value per transaction.
- Transfers automatically expire after 30 days but can be changed to anywhere between 1-90 days.
- Funds can only be sent within Canada in Canadian dollars.
Here’s how it works. It’s simple.
- You upload a file with the required information.
- Scotiabank debits your account and forwards the file to Interac†.
- Interac† sends an email or text notification to your recipients. If your recipient has Autodeposit, funds will automatically be deposited, or they will need to answer a security question and deposit their funds. That’s it!