What is an Interac e-Transfer?
An Interac e-Transfer is a fast, secure and convenient way to send money to anyone in Canada. To send an Interac e-Transfer, all you need is the email address or mobile phone number of the person that you are sending money to. The recipient receives notification that the transfer has been sent, and accepts and deposits the funds to a Canadian bank account of their choice immediately.
What is an Interac Request Money transaction?
An Interac Request Money transaction is a fast, secure and convenient way to collect money from anyone in Canada. To send an Interac Request Money transaction, all you need is the email address or mobile phone number of the person that you are requesting money from. The recipient receives notification that the transfer has been received, they accept the transfer and funds are deposited real-time into your DCBank account.
How do I send an Interac e-Transfer?
Once you are logged into DCBank’s secure online platform, navigate to the section for Interac e-Transfer and simply follow the instructions to add a recipient and start sending and collecting money. DCBank also has API options available.
What is bulk disbursement?
DCBank is one of the first Canadian Financial Institutions to offer its customers bulk disbursement for Interac e-Transfer. Bulk disbursement allows customers to send a single file with multiple individual transactions for a lower cost than individual transaction processing.
How will I know when the recipient has received the Interac e-Transfer?
The sender receives a notification once the recipient has accepted the transaction. DCBank offers detailed reporting for its clients on the status of Interac e-Transfer transactions.
What are DCBank’s processing times?
Individual Interac e-Transfer transactions are sent real-time within 30 minutes. Bulk disbursement Interac e-Transfer transactions are sent the next business day, with options for priority processing where transactions are sent within 1 hour.
What are the benefits of DCBank’s Interac e-Transfer platform?
DCBank’s online Interac e-Transfer solution allows its customers to process payments quickly by sending or collecting individual or bulk payments to customers in Canada, without the need for the recipients’ banking information. The primary benefits of DCBank’s Interac e-Transfer platform include:
- Flexibility – real-time and overnight processing options
- Speed – funds are deposited real-time anywhere and anytime the recipient has access to online banking
- Detailed Reporting – receive real-time acknowledgement and transaction status reports
- Security – each payment is password protected, allowing recipients to safely and securely deposit their funds
- Paperless – reduce requirements for collection of personal financial information and issuing, tracking or reconciling costly cheques or cash payments
Can you cancel an Interac e-Transfer or Request Money?
An Interac e-Transfer or Request Money can only be cancelled if the transaction has not been accepted.
What are the limits for sending Interac e-Transfers or Request Money?
Limits for sending an Interac e-Transfer or Request Money transactions may vary by account type.
What are the limits for receiving Interac e-Transfers or Request Money?
Limits for receiving an Interac e-Transfer or Request Money transactions may vary by account type.