How INTERAC e-Transfer Works

Interac e-Transfer can be sent or received through:

Email using a full-sized website on a desktop or laptop computer, OR
Through email and text message using a mobile browser on a smart phone.

This means that a sender can send money via a computer or mobile phone and a recipient can accept this transfer on a computer or mobile phone.

All you need is an email address, access to online or mobile banking, and the email address or mobile phone number of the person you are sending money to.

Create Your Sender Profile Expand/Collapse

Step 1	Log on to YNCU Online or Mobile Banking, and click on the Transfers tab.
Step 2	Choose Send INTERAC® e-Transfer within the Transfer menu options.
Step 3	Click Create your Sender Profile (one time set up only).
Step 4	Enter your name, email address, mobile phone number (optional), and preference for how you wish to receive notices by. You can choose: email address, mobile phone number, or both.
Step 5	Click Create Profile.
Step 6	A receipt screen will display.

Adding a Recipient Expand/Collapse

Step 1	Click Add a Recipient.
Step 2	Enter the recipient's name, email address, mobile phone number (optional), and preference for how they wish to receive transfers by. You can choose: email address, mobile phone number, or both.
Step 3	Enter a security question and a one word answer. Note: The answer word is case sensitive. The recipient must answer this question in order to receive your Interac e-Transfer. If need be, call the recipient ahead of time and provide them with the correct answer.
Step 4	Click Add Recipient.

Send INTERAC® e-Transfer Expand/Collapse

Step 1	Click Send INTERAC® e-Transfer.
Step 2	Select the Recipient you would like to send money to.
Step 3	Select which account you would like the money to come out of.
Step 4	Enter the amount of money you would like to transfer.
Step 5	Write a message for your recipient. For example what the money is for. Note: Do not put the answer to your security question in your message.
Step 6	Click Send Transfer.
Step 7	A confirmation screen will display. If the information is incorrect, click Edit to fix your information. if the information is correct, click Confirm.
Step 8	A receipt screen will display. A confirmation number will also be displayed and can be used for tracking purposes.

Receiving INTERAC® e-Transfer Expand/Collapse

Step 1	The recipient will receive a transfer notification email sent to their email account, mobile phone, or both.
Step 2	Click on the link under Action Required.
Step 3	From the drop down menu under "...at a credit union in", select Ontario.
Step 4	From the second drop down menu, select YNCU.
Step 5	Click on the Deposit button.
Step 6	You will be prompted to log in to YNCU Online Banking.
Step 7	Answer the security question. Then click Continue.
Step 8	Select Accept this transfer and place it in account.
Step 9	Select the account you would like the funds to be deposited into. Type a message (optional) to the sender. Then click Continue.
Step 10	A confirmation screen will display. If the information is incorrect, click Edit to fix your information. If the information is correct, click Confirm.
Step 11	A receipt screen will display.

Checking, Resending, and Cancelling Pending Expand/Collapse

Step 1	Click on Pending INTERAC® e-Transfers from the Transfers tab in Online Banking.
Step 2	When a transfer request is first sent, the status is listed as Transfer Requested.
Step 3	After 30 minutes, an email notification is sent to the recipient, and the status changes to Recipient Notified.
Step 4	You may cancel the transfer before the recipient accepts it by clicking on Cancel. However, the service charge will not be refunded.
Step 5	You can resend a notice to the recipient reminding the individual to accept the deposit by clicking on Resend.
Step 6	After the funds are deposited into the recipient's account, the transaction is removed from the pending list, but can be viewed under Search INTERAC® e-Transfer History.