Show Hide
Login

Login

 

 

  • PersonalToday’s exchange rate* for CAD/INR personal online money transfer: 53.7604
  • Corporate
  • Mortgage
  • Forgot Password
  • *The exchange rates for CAD/INR displayed here are only applicable to money transfer transactions initiated through ICICI Bank Canada’s Personal Online and Mobile Banking App platforms. These rates are subject to change without prior notice. While ICICI Bank Canada endeavors to post accurate and up-to-date information on its website, customers must verify the rates before entering into any transaction. Money Transfer Terms and Conditions apply.
Rates & Charges

Rates & Charges

 
  • Personal

    Today’s exchange rate* for CAD/INR personal online money transfer: 53.7604

  • Business
  • Calculators
  • *The exchange rates for CAD/INR displayed here are only applicable to money transfer transactions initiated through ICICI Bank Canada’s Personal Online and Mobile Banking App platforms. These rates are subject to change without prior notice. While ICICI Bank Canada endeavors to post accurate and up-to-date information on its website, customers must verify the rates before entering into any transaction. Money Transfer Terms and Conditions apply.
  • *The exchange rates for CAD/INR displayed here are only applicable to money transfer transactions initiated through ICICI Bank Canada’s Personal Online and Mobile Banking App platforms. These rates are subject to change without prior notice. While ICICI Bank Canada endeavors to post accurate and up-to-date information on its website, customers must verify the rates before entering into any transaction. Money Transfer Terms and Conditions apply.
Offer Zone Apply Now

Apply Now

 
Get In touch

Interac e-Transfer®

General:

What is an Interac e-Transfer?


Interac e-Transfer is a simple, fast, secure and convenient way to send and receive money directly from one person to another, from one Canadian bank account to another, anywhere in Canada.

Which financial institutions offer Interac e-Transfer?


Most Canadian financial institutions offer Interac e-Transfer. To review an up-to-date list of participants, please go to Interac’s website at interac.ca.

Can I send or receive an Interac e-Transfer in currencies other than Canadian dollars?


No. Funds sent by Interac e-Transfer must be in Canadian dollars and must be deposited into an account at a Canadian Financial Institution.

Which types of bank accounts can be used for sending and receiving an Interac e-Transfer?


The following ICICI Bank Canada personal, non-registered accounts can be used for sending and receiving funds through Interac e-Transfer:

  • Canadian dollar chequing accounts
  • Canadian dollar savings accounts

Can I send an Interac e-Transfer through my business account?


Currently, we do not support Interac e-Transfer for our business banking customers.

What is a security question? What are the guidelines for the security answer?


The security question verifies the recipient’s identity and protects your funds from being received by the wrong person. It is your responsibility to set a security question when you send the transfer and communicate the answer to the security question to the recipient by phone or in person. For security purposes, the answer to the security question should never be sent in an email or text message.

 

Guidelines for the security answer:

  • the answer must be one word
  • the answer must not contain any blank spaces
  • the answer is not case sensitive, and both letters and/or numbers are accepted
  • the answer cannot contain special characters (&, $, etc.).
  • the answer should be kept strictly confidential between the sender and recipient

Is my money sent by email or text message?


Your money never travels by email or text message. Email and text messages are only used to notify and provide instructions to the recipient on how to deposit the money or if the transfer expires. The money always resides safely at a financial institution, and is transferred through the secure payment network used by banks.

 

Other security measures include:

  • Encryption technology
  • For the sender - Confidential user ID and password are required to log into your bank account online
  • For the recipient – You are required to provide a correct answer to the security question that the sender has chosen. The sender should inform you of the correct answer directly to ensure you are the recipient of the money.

What is the difference between a cancelled payment and reclaim of funds?


A cancelled payment occurs when you request a stop payment on your transfer request.

 

Reclaim of funds occurs when the Interac e-Transfer is undeliverable for one of following reasons:

  • Recipient's e-mail address is not valid
  • Recipient is unable to answer the security question
  • Recipient declines the transfer
  • The transfer has expired

When an Interac e-Transfer cannot be completed, the funds are returned to the sender. No fees are charged for reclaiming e-Transfers.

What if I want to send money to someone whose account is not at an Interac e-Transfer participating financial institution?


You can still send money using Interac e-Transfer. When the recipient receives the email from Interac notifying him/her about your transfer, he/she will have the option to deposit the money into an account at any Canadian financial institution. The transfer will take 4 - 6 business days to process and the recipient’s financial institution may charge a fee.

I received a text message notification from 100001. What does this mean?


100001 is the short code address from which all text Interac e-Transfer notifications originate. Short codes (also known as short numbers) are special telephone numbers, significantly shorter than full telephone numbers that can be used to address text messages to or from mobile phones. Short codes are designed to be easier to read and remember than normal telephone numbers. Like telephone numbers, short codes are unique to each operator at the technological level. Standard text messaging charges may apply.

I sent an Interac e-Transfer† but provided an incorrect email address or mobile phone number for the recipient. What should I do?


If you have provided an invalid email address, you will be notified via email that the transfer notification was undeliverable. You can re-enter the email address and resend or cancel the pending transfer. The original transfer amount (less a $1.50 fee) will be credited back to your account.

 

To re-enter the email address:

  • Login to ICICI Bank Canada’s Online Banking and click Interac e-Transfer on the left menu
  • Edit your recipient information to include the valid email address
  • Go to Pending Transfer and select Resend Notification
  • Click on Confirm

A notification will be resent to the recipient's valid email address.

Sending Money:

What are the steps to Send Money?


Login to ICICI Bank Canada’s Online Banking and click Interac e-Transfer on the left menu. If you haven’t registered for Online Banking, you’ll have to do that first.

 

Send money in a few simple steps:

  • Login to ICICI Bank Canada’s Online Banking portal and click Interac e-Transfer on the left menu.
  • Enter the recipient’s name, email address, phone number (optional) and provide a security question. For a new recipient, refer to the next question for steps to do a one-time registration – “add” a recipient. Review and verify the details and click Next.
  • Select the account that you want to withdraw the money from, indicate the amount and select your recipient. Review and verify the details and click Next.
  • You will receive a notification by email once the money has been deposited into the recipient’s account.

What are the steps to Add a Recipient?


  • Login to ICICI Bank Canada’s Online Banking and click Interac e-Transfer on the left menu
  • Click on Add/Delete Recipient
  • Select Add Recipient
  • Provide the recipient’s name, email address and mobile number
  • Select your preferred method of notifying the recipient about your transfer: by mobile or email
  • Select a Security Question
  • Provide the Security Answer (you must inform the recipient of the answer to the Security Question using a secure method)
  • Click on Add Recipient.

What are the steps to Edit the Recipient?


  • Login to ICICI Bank Canada’s Online Banking and click Interac e-Transfer on the left menu
  • Select the Recipient whose details need to be modified
  • Click on Modify Recipient

You can also modify the security question or answer for the recipient here.

Is there a service charge for using Interac e-Transfer to send money?


Yes. $1.50 will be charged to the account you are transferring the funds from. The service charge is non-refundable, regardless of whether the transferred amount is received, cancelled, declined, expired, or the recipient fails to answer the security question correctly.

Can I send money by Interac e-Transfer to someone outside of Canada?


No. Money sent by Interac e-Transfer must be in Canadian dollars and must be deposited into an account at a Canadian financial institution. Recipients outside of Canada may receive transfers if they are depositing the money into their Canadian dollar account at a financial institution in Canada.

What is the maximum limit for sending funds?


Per transaction $3,000
Daily  $3,000 (daily limit)
Weekly $10,000 (per 7-day period)
Monthly $20,000 (per 30-day period)

What will happen after I send money via Interac e-Transfer?


After you send money using Interac e-Transfer, the recipient will receive an email from Interac with instructions on how to deposit the money you have sent. The recipient should receive the email within 60 minutes after you initiate the transfer.

How do I cancel an Interac e-Transfer?


If the recipient has not yet deposited the money, you can cancel the transfer in a few simple steps:

  • Login to ICICI Bank Canada’s Online Banking and click Interac e-Transfer on the left menu
  • Select Interac e-Transfer from the left menu
  • Select View/Resend/Cancel Pending Transfers 
  • Choose the transaction that you want to cancel
  • Review and Confirm the information you have entered

Once the request is cancelled, a confirmation number will be provided to you and the money will be deposited back into your account. An automated email will also be sent to the recipient indicating that the transfer has been cancelled.

Is there an expiry date on my Interac e-Transfer?


The Interac e-Transfer will expire in 30 days.  When a transfer expires, you will receive a notice via email with instructions on how to reclaim the funds.  If you do not reclaim the funds within 30 days of the expiry, ICICI Bank Canada will cancel the transfer automatically and return the money to the account that the transfer originated from.

Receiving Money:

What are steps for depositing money sent by Interac e-Transfer?


When someone sends you an Interac e-Transfer, you will receive an email from Interac. Follow these steps to deposit the money:

  • Click on the link in the email to access the Interac site
  • Select ICICI Bank Canada to receive the money
  • Provide the correct answer to the security question (you should have received this from the sender separately)
  • Select the account to be credited.

Is there a service fee for receiving money sent through Interac e-Transfer?


No, there is no charge for receiving an Interac e-Transfer.

Are there limits on the amount I can receive?


Per transaction $10,000
Daily  $10,000 (daily limit)
Weekly $70,000 (per 7-day period)
Monthly $300,000 (per 30-day period)

Will I get a reminder to deposit the money received through Interac e-Transfer, and is there a time-limit on the transfer?


You will receive reminders by email or text message regarding the outstanding transfer 7, 14, 21 and 28 days after the transfer was initiated. After 30 days, the transfer will expire and you will no longer be able to deposit the funds. At that time, the sender will be notified and will be given the option to cancel the expired transfer. The money will be returned to the sender’s account.

 

The Interac e-Transfer will expire in 30 days, after which you will not be able to deposit the money. 

 

®Trademarks of Interac Inc.