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Interac E-Transfers

Interac® e-Transfers are available for all VP Financial members with a personal account!

Send and receive money quickly, conveniently, and safely using your mobile phone or computer with Interac® e-Transfers. All you’ll need to know is the recipient’s email or mobile number. No account information is required. You can even transfer on-the-go, by accessing VP Financial Online Banking through a smart phone.

Anyone with an account at a Canadian financial institution can send and receive an Interac® e-Transfer anytime, anywhere.

Please do keep in mind that accessing your account through public Wifi or Wifi provided by a retail business is not recommended due to security reasons. We encourage members to connect to their bank accounts using an encrypted home internet connection or via their mobile phone data plan.

Sending an Interac® e-Transfer

1. Get your recipient’s name and email address or mobile phone number
2. Log into VP Financial online banking.
3. Click on “Transfers” from the sidebar menu and then select “Send Interac® e-Transfer”
4. Set up your profile
5. Set up your recipients by adding their information
6. Create a unique security question that only the recipient will be able to answer
7. Once your recipient is set up, select their name from the drop down list and select the amount you’d like to transfer and the account you’d like to transfer from
8. Click transfer, and you’re done!

Receiving an Interac® e-Transfer

The recipient will receive a notification by email or text message indicating that they have been sent an Interac® e-Transfer. Using their own financial institution’s online banking site, the recipient will be walked through a few simple steps to deposit the funds.

Before they are able to deposit the funds, they must answer the security question that was set up at the beginning of the transaction.

Transaction limits*
Receiving per Single Transaction  $25,000.00   Receiving Daily Limit $100,000.00   Receiving Limit per 7 day period $700,000.00   Receiving Limit per 30 day period  $3,000,000.00         Sending per Single Transaction $3,000.00   Sending Daily Limit $10,000.00   Sending Limit per 7 day period  $10,000.00   Sending Limit per 30 day period  $20,000.00
* Maximum of 50 outstanding e-Transfer pending requests at any given time

Enhanced Interac® e-Transfer Services

Members have access to the Autodeposit and the Request Money services within the e-Transfer tabs. For more information on these two new services, please click HERE.

Frequently Asked Questions

1.     Can I increase my Interac e-transfer limit?

No. This limit cannot be changed. However, VP Financial periodically reviews the limits to ensure the limits are suitable based on members’ needs and meets the guidelines set by Interac and Central 1 credit union.

2.     I just received an e-transfer via email and/or text. How long will it take for the funds to be deposited into my VP Financial account?

Once you receive your e-transfer email and/or text, you can deposit those funds immediately to your VP Financial bank account. Just follow the depositing instructions as indicated and it should only take a minute.

3.     I just sent an e-transfer via email and/or text. How long will it take for the recipient to receive it?

Once you have sent an e-transfer, the funds will debit your account immediately and an email through Interac will be sent to the recipient. Processing times will varying depending on the recipient’s email host. Typically, e-transfer emails may be received as soon as within the hour it was sent, but may take up to one business day in some rare circumstances.

4.     How do I search for historical information on e-transfers I have sent?

When using the VPCU.com Member Direct platform, you can easily review all your sent e-transfers by navigating Member Direct as follows:

  1. Log into Member Direct
  2. Click “Transfers” on the left hand side
  3. Click “Send Interact e-Transfer” on the left hand side
  4. Click “Search Transfer History” on the left hand side
  5. Click the calendar button and select the date range you wish to search
  6. Click “Continue” and voila your e-Transfer sent history is all there!

5.     It’s been over one business day and the e-transfer email I sent has not been received by the recipient. What do I do?

Please check the “View/Resend/Cancel Pending Transfers” tab within Member Direct. You have the option to click “Resend Notice”. You can also “Cancel” the e-Transfer and re-send. Hitting the “Resend Notice” button will typically resolve any pending e-transfers that have experienced an email delay. Should that not resolve the issue, please contact us at 604 683 2434 or at [email protected] and we will investigate accordingly.


6.     It’s been over one business day and the e-transfer email I was supposed to have received has not come to my email box. What do I do?

Please check your junk email box in case your email service provider mistakenly delivered it into the wrong folder. You can also check with the sender to see if they can resend the e-transfer notification. Should that not resolve the issue, please request the sender to investigate further with their respective financial institution.


7.     Who does the Interac e-Transfer system belong to?

Interac is a company that provides their proprietary payment processing e-transfer service to all participating Canadian financial institutions. VP Financial is one of many credit unions that have added the e-Transfer payment service to their online banking platform. For more information you may view Interac’s website HERE.


8.     Is Interac a free service?

It is free to receive funds, but not for sending or requesting funds. Interac will charge $1.00 per e-Transfer sent or requested. VP Financial has paid for the rights to have the e-Transfer feature added to our Member Direct online banking platform and we review the pricing with Interac periodically.

9.     Are there any Youtube videos that illustrate how the Autodeposit and Request Money Interac e-transfer features work?

There sure are! Please see below:

Autodeposit: https://www.youtube.com/watch?v=6mloqND0ut0&feature=youtu.be

Request Money: https://www.youtube.com/watch?v=gMrCxz4QCXg&feature=youtu.be  


If you have more Interac e-Transfer questions, for ease of reference you may view the Interac website HERE.

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