Interac e-Transfers are a safe and convenient way to send and receive funds without sharing personal account details. For more information about the security of these transactions, please visit the Interac Website.
Tips for sending and receiving Interac e-Transfers safely:
Only send money to those you know and trust. Once the funds are deposited, the transaction cannot be reversed.
Select a security question and answer that cannot be easily guessed and which ONLY the recipient would know. Do not send security question answers via email or text. To clarify an answer, call your recipient or speak to them face to face.
Encourage your recipient to set up Interac e-Transfer Autodeposit. If the recipient is set up for Autodeposit, a Security Question and Answer is not required. The recipient will receive an email confirming the funds have been deposited to their account.
Use strong passwords for your online/mobile banking and email accounts. Strong passwords include letters, numbers and symbols. Do not use the same password for multiple accounts. Never save passwords in your browser or mobile apps.
Be cautious if you receive notification that you have been sent an Interac e-Transfer that you were not expecting. Contact the sender directly to confirm before depositing the funds. Never click on links in unsolicited and unexpected emails; it could be fraudulent emails designed to collect account information from unsuspecting recipients.
Be cautious if someone asked you to accept an Interac e-Transfer and then to forward the funds on to another inpidual. This is a common scam and you may become an unwitting participant in fraudulent activity. Only accept Interac e-Transfers from those you know and trust, and only send money to those you know and trust.
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