Interac: how it works

Interac is a popular Canadian payment method connected to your bank. Online, you’ll typically see Interac e-Transfer or Interac Online.

Basics

• Availability: Most Canadian banks support Interac e-Transfer.
• Typical limits: daily/weekly limits depend on your bank tier.
• Fees: often free or low cost; check your bank’s policy.
• Speed: transfers are usually near-instant; withdrawals may require verification.

Safety tips

• Enable two-factor authentication in your bank.
• Verify the recipient and reference before sending.
• Use strong, unique passwords for all financial services.

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