Interac® e-Transfer Security

Interac® e-Transfers provide a convenient way to send money through online banking. It’s secure and convenient, but there are still some key things that you can do to ensure that your Interac e-Transfers are protected.

Send Interac e-Transfers only to individuals or business that you know or are familiar with.

Online sale scammers usually request Interac e-Transfers as the way of accepting payment. Once the payment is made, you may not get the product/item you paid for and your money is gone.

Only use secure and protected Wi-Fi when sending Interac e-Transfers

Hackers can easily access public, open, free and unsecured Wi-Fi (eg. McDonalds, Starbucks, shopping malls etc) and can hack into your online banking and/or email to intercept your e-Transfers
If you must send an Interac e-Transfer in a public area, then you should use Data

Do not send Interac e-Transfers from shared computers (ie. libraries, internet cafes, friend’s computer or phone)

You do not know if these devices have high-security, or any security at all, and as well should you forget to log-off your online banking, you may compromise your information

Use a challenging security question

Do not make the answer to the security question easy to guess
Only the sender and the recipient should know the answer to the security question

Do not share the answer to the security question via text or email even with the recipient (**you should choose a security question where only the recipient will know and/or already knows the answer)

Do not put any hints of the answer to your security question in the message area of the Interac e-Transfer

Review and verify sender and recipient information before sending Interac e-Transfers

Make sure the phone number/email of recipient is correct
Make sure your information as the sender is correct
Verify the amount