Personal Finance

interac e-transfer: how to setup auto-deposit?

  • Last Updated:
  • May 27th, 2018 3:12 pm
11 replies
Deal Fanatic
User avatar
Sep 10, 2005
5703 posts
3663 upvotes
GTA
I know that Simplii has this feature. I haven't seen it as an option with Tangerine but I've never actively looked for it
Deal Addict
Jul 24, 2011
1100 posts
236 upvotes
I'm wondering too, BMO sent a message saying this year it would be available (starting Feb) but I don't see the option anywhere.
Fido client
Tangerine client.
Deal Fanatic
Apr 5, 2016
6116 posts
4613 upvotes
Calgary/Vancouver
I was able to set it up with CIBC. Pretty easy and convenient feature. No longer do I need to enter a security answer.
Sr. Member
Feb 10, 2008
656 posts
309 upvotes
Toronto
I've got it set up with Simplii. Love it...no more trying to figure out if I spelled the damn cat's name correctly or not when the wife sends me money!
Member
Jan 4, 2017
366 posts
277 upvotes
Tangerine has auto-accept for the Tangerine e-transfers only, they don't have Interac e-transfer auto-accept yet as far as i know, but it will probably come eventually.

I have Interac e-transfer auto-accept set up with TD, and it works very well for me so far. I received a prompt about it at some point and turned on the feature then.
Member
Dec 4, 2012
235 posts
386 upvotes
Calgary
This is honestly the best thing ever.

Mainly because I have two separate banks which I always transfer money between. So with two emails set up for each bank, I don't need to go to the email and accept it every time, I just send it and boom! And not to mention I send/receive a lot of e-transfers so I basically get an email notification of a received deposit.
Deal Addict
Aug 18, 2006
3421 posts
1356 upvotes
How do you set it up for simpli
Jr. Member
May 4, 2007
151 posts
41 upvotes
Although auto-deposit is great for the receiver of the money, I do not like it as a sender.

By not requiring a password, it removes a safety step for the case of sending to the wrong person.

I think that the sender should be able to override auto deposit and require a password. At least for the first time when sending money to someone.
Deal Fanatic
User avatar
Sep 10, 2005
5703 posts
3663 upvotes
GTA
itIsI wrote: Although auto-deposit is great for the receiver of the money, I do not like it as a sender.

By not requiring a password, it removes a safety step for the case of sending to the wrong person.

I think that the sender should be able to override auto deposit and require a password. At least for the first time when sending money to someone.
According to the Interac site;

"For senders, there is added convenience of not needing to convey security answers while continuing to have the security of knowing who is receiving the funds, prior to sending."

I haven't tried it so I don't know exactly what it's referring to but perhaps they have something in place for that. Some sort of confirmation before sending I suppose?

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