Interac e-Transfer FAQs

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.

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.

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

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

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

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:

1. Recipient's e-mail address is not valid

2. Recipient is unable to answer the security question

3. Recipient declines the transfer

4. 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.

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.

If you have provided an invalid/incorrect e-mail ID, you can cancel the pending transfer. After updating the contact details with the correct e-mail ID/mobile number, re-initiate the transaction to the recipient.

a. To cancel the transaction:

• Log in to ICICI Bank Canada's Online Banking and click ‘Interac e-Transfer’ on the left menu
• Click on ‘e-Transfer History’ and ‘Send Money’ option
• Select the transaction that needs to be cancelled
• Click on ‘Cancel Transfer’ and then click ‘Yes’ on the confirmation pop-up.

The transaction will be deleted from the lists.  

b. To edit contact details:

• Log in to ICICI Bank Canada's Online Banking and click ‘Interac e-Transfer’ on the left menu
• Click on ‘Manage Contacts’
• Select the contact
• Click on ‘Edit’
• Update the contact details (e.g. mobile number/e-mail ID)
• Click on ‘Confirm & Submit’
• Enter OTP
• Click on ‘Submit’.

A. You can view all your transactions on the ICICI Bank Canada Website. To view your transaction:

• Login to ICICI Bank Canada Online Banking and click on Interac e-Transfer
• Click on e-transfer history.

A. You can update your mobile number and e-mail address either in Internet Banking or in our Mobile Banking App.

To update your mobile number and e-mail address:

• Login to ICICI Bank Canada Online Banking/iMobile Canada and click on Interac e-Transfer
• Click on ‘Profile Details’ and update profile
• Update the mobile number and e-mail address
• Click on ‘Continue’ and ‘Submit’

A Success message will be displayed, and the details will be updated.

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.

The transaction time is maintained as per Toronto local time (EST)

A. Login to ICICI Bank Canada Online Banking and click Interac e-Transfer. If you have not registered for Online Banking, you will have to do that first.

Send money in a few simple steps:

1. Login to ICICI Bank Canada Online Banking portal and click Interac e-Transfer on the left menu
2. Add a contact: For a new recipient, refer to the next question for steps to add a contact
3. Click on ‘Send Money’ and fill all the mandatory fields - Send Money to, Send Money From, Amount, Security question and answer
4. Click on 'Continue' and ‘Submit’ button
5. You will receive a ‘Success’ message for that transaction

A. Login to ICICI Bank Canada Online Banking and click Interac e-Transfer on the left menu.

1. Click on ‘Manage Contacts’
2. Click on ‘Add a Contact’
3. Enter name
4. Choose notification method
5. Enter mobile number
6. Click on ‘Confirm’ and ‘Submit’ button
7. Enter OTP
8. Click on ‘Submit’ button

A. Steps to edit the recipient:

1. Login to ICICI Bank Canada online Banking and click Interac e-Transfer on the left menu
2. Click on ‘Manage Contacts’
3. Select and click the contact
4. Click on ‘Edit’
5. Update the contact details (mobile number, e-mail ID, etc.)
6. Click on ‘Confirm’ & ‘Submit’ button
7. Enter OTP
8. Click on ‘Submit’ button

A. Steps to Add Contact are as follows:

• Login to the RIB website or iMobile App
• Click on ‘Interac e-Transfer’
• Click on ‘Manage Contacts’ in LHS Menu (RIB) / Click on ‘Manage Contacts’ under ‘Interac e-Transfer’ menu
• Click on any Contact appearing on the ‘Manage Contact’ page
• Click on ‘Delete Contact,’ then a pop-up will appear
• Click on ‘Delete’ button of pop-up

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.

1. Maximum 64 characters
2. Only text, numbers and hyphen are allowed
3. Cannot contain special characters (@, &, $, etc.)
4. The answer should be kept strictly confidential between the sender and the recipient.

No. Interac e-Transfers are free, and no service charge is levied.

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.

**The daily limit for sending funds is reset at 24 hours after the last payment is initiated. Example: If you have initiated a transfer of 10,000 CAD at 10 a.m. today, then you will be able to initiate the subsequent transaction from 10:01 a.m. the next day

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.

To cancel the transaction:

1. Login to ICICI Bank Canada Online Banking and click Interac e-Transfer on the left menu
2. Click on the ‘e-Transfer History’ and ‘Send Money’ option
3. Select and click on the transaction that has to be cancelled
4. Click on ‘Cancel Transfer’ and then click ‘Yes’ on the confirmation Pop-up

The transaction will be cancelled, and the refund will be credited.

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.

You can view all your transactions on the ICICI Bank Canada website.

To view your transaction:

1. Login to ICICI Bank Canada Online Banking and click on ‘Interac e-Transfer’
2. Click on ‘e-transfer History’

Relevant searches should be carried out under the ‘Send Money’, ‘Request Money’ and ‘Receive Money’ option, including the time when the transaction was made.

If the recipient declines the transfer, you can cancel the payment to retrieve the funds.

To cancel the transaction, refer to ‘How do I cancel an Interac e-Transfer’.

Yes, you will be able to send a reminder only for eligible transactions.

To send a reminder:

1. Login to ICICI Bank Canada Online Banking and click on ‘Interac e-Transfer’
2. Click on ‘e-transfer History’ and ‘Money Sent’
3. Select the ‘from date and to date’
4. Select the transaction type
5. Click on ‘Get Details’
6. Select and click on the transaction
7. Click on ‘Send Reminder’
8. Click ‘Yes’ on the confirmation Pop-up

A reminder notification will be sent to the recipient.

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

1. Click on the link in the e-mail to access the Interac site
2. Select ICICI Bank Canada to receive the money
3. Login to ICICI Bank Canada Online Banking and click on ‘Accept’
4. Provide the correct answer to the security question (you should have received this from the sender separately)
5. Select the account to be credited.
6. Click on ‘Continue’ and ‘Submit’

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

Yes, for each transaction the maximum allowed amount is $ 25000 from ICICI Bank Canada's end.

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.

Interac e-Transfer’s “Request Money” feature allows you to request money you are owed. Recipients are instantly notified of your request through an email or a text message from Interac. The recipient can then accept the request or decline it. If the request is accepted, the recipient can pay you through their account with a Canadian financial institution, using the Interac e-Transfer feature. Once done, the requested money will be automatically deposited into your account and the recipient will be notified via email from Interac.

Log in to ICICI Bank Canada’s Online Banking or iMobile App, go to the Interac e-Transfer option and select “Request Money”. Simply follow the instructions to add a contact and the amount of money you are requesting.

Yes, there is a $ 10,000 per transaction limit while requesting money and $ 10,000 limit for fulfillment of your requested money.

To cancel a request for money, log in to your online or mobile banking application, go to payment history and select the Interac e-Transfer transaction you wish to cancel. Please note that you cannot cancel a request once it has been fulfilled.

You can request money from anyone with an email address or mobile number who has access to online banking or mobile banking at a Canadian financial institution.

Similar to sending money via Interac e-Transfer, when you request money through Interac e-Transfer, the recipient/contact will receive a notification at the email address or mobile number you have prescribed for them.

The default expiry period is 30 days from the date of requesting money. You can also set a date shorter than 30 days but not beyond 30 days.

The request for money is fulfilled by your recipient to whom you have sent the request. The recipient can then accept or decline the request. If the request is accepted, the recipient can pay you through their account with a Canadian financial institution, using the Interac e-Transfer feature.

The money sent in response to a Request for Money will take the same time as a regular Interac e-Transfer transaction. Most transfers will be sent almost immediately or up to 30 minutes.

Autodeposit is an Interac e-Transfer feature that allows you to register and have the incoming Interac e–Transfer funds deposited directly into your Canadian dollar bank account – no security question and answer needed.

To register for Interac e-Transfer Autodeposit:

1. Log in to ICICI Bank Canada Internet Banking or Mobile Banking app and go to the Interac e-Transfer section.
2. Click on the ‘Autodeposit’ option.
3. Add the identifier i.e., an e-mail address to be associated with Interac e-Transfer Autodeposit and select the Account into which you want funds deposited and accept the acknowledgments.

You will receive a request to verify your registration. The next time someone sends funds to the identifier registered, the money will be deposited directly into your Account without the need to answer a security question.

If you haven’t received the Autodeposit verification email, check your junk email folder. If you still can’t find the notification, try to re-register through your Online Banking or Mobile Banking application.

A maximum of 5 email addresses per customer can be registered for the Autodeposit feature.

To de-register your Interac e-Transfer Autodeposit:

1. Log in to ICICI Bank Canada Internet Banking or mobile banking app
2. Visit ‘Interac e-Transfer’ section
3. Click on the ‘Manage Autodeposit’ option
4. Select the e-mail ID that has needs to be de-registered
5. Click ‘Delete’ button. The Account will then be de-registered for Autodeposit