Interac e-Transfers expire after 30 days if not claimed by the recipient. This may occur if the sender enters an incorrect email address, or if the recipient declines the Interac e-Transfer, responds incorrectly to the security question, or takes no action.
You will receive messages in your Online Banking Message Centre advising the status of any Interac e-Transfer you’ve sent, including if it has not been claimed or has expired..
Receivers have the option of accepting or declining an Interac e-Transfer. If the receiver declines the transfer, the sender can either cancel the payment to retrieve the funds or resend the e-mail transfer.
You can cancel an Interac e-Transfer at any time, as long as the recipient has not deposited the funds. There is no fee for self-cancelling.
Retrieving funds from a declined or expired Interac e-Transfer
You must manually retrieve your funds from declined or expired Interac e-Transfer.
From the Banking tab:
- Go to "Pay Bills and Transfer Funds".
- Select the "Payment History" tab.
- From the Payment History list, select the confirmation code of the Interac e-Transfer to be cancelled.
- On the Interac e-Transfer details page, choose "Cancel Payment".
If the "Cancel" option does not appear, it is no longer possible to cancel that payment.
If you do not cancel an unclaimed Interac e-Transfer within 15 calendar days after we’ve notified you of its expiry, we will return the funds to your account and apply a $5.00 reclaim fee.
FAQs
To Reclaim an Interac e-Transfer in Online Banking:
- Sign in to Online Banking.
- On the right-hand side of the Accounts Summary page, select Payment History.
- Select the Interac e-Transfer that you want to reclaim.
- Select Cancel Payment and follow the on-screen instructions to reclaim the transfer.
Are Interac e-Transfers time-sensitive? Yes. Interac e-Transfers expire 30 days after they are sent and the recipient will not be able to deposit the funds after that time. The sender will receive an email or text message with instructions to re-deposit the funds.
Why would an e-transfer be declined? ›
Declined or expired Interac‡ e-Transfer
This may occur if the sender enters an incorrect email address, or if the recipient declines the Interac e-Transfer, responds incorrectly to the security question, or takes no action.
What happens if an e-transfer is never accepted? ›
If the money was not deposited into the recipient's account, this is likely because they didn't answer the security question properly or did not accept the funds within the thirty-day limit. If an e-transfer is not accepted, the money will be automatically deposited back into your bank account.
Can you get an e-transfer back after it's been accepted? ›
How do I reverse an Interac e-Transfer transaction? Unfortunately, once a deposit has been made there is no way to reverse the transaction. You'll have to make arrangements directly with the recipient. You should only send money transfers to parties you know and trust.
Can a bank reverse an e-transfer? ›
An Interac e-Transfer transaction cannot be reversed once a recipient has deposited the funds. Always use a strong password that can't easily be guessed or found – and make sure you share it via a safe channel. Better yet: Suggest that your recipient set up Interac e-Transfer Autodeposit for ease and added security.
What happens when a transfer expires? ›
If you do not pick up the transfer within 30 days, the sender will receive a notice that the transfer has expired and will be given instructions on how to reclaim the funds.
Can you use Interac e-Transfer outside Canada? ›
Interac e-Transfers are only available in Canada for individuals who have Interac-partnered bank accounts (most of them). So, no you cannot use Interac e-Transfer in the U.S. That being said, Interac does have a collaboration with Mastercard and Western Union to allow Canadians to send International Transfers.
What is the maximum time for Interac e-Transfer? ›
Transfers are almost instant, but can take up to 30 minutes depending on your bank or credit union. Visit our Interac e-Transfer page for step-by-step instructions on how it works.
What does it mean when a transfer is declined? ›
It is important to understand that a “decline” response means the card issuer is unable or unwilling to provide an authorization on the cardholder's account. It does not mean that there was an error running the transaction.
Insufficient Funds: If you don't have enough funds in your bank account or Cash App balance to cover the transfer amount, the bank may decline the transaction. Suspicious Activity: Banks have security measures in place to protect their customers from fraudulent transactions.
How long does it take for a declined payment to be returned to sender account? ›
If your transaction was declined, most banks will still hold the charge as “pending.” Most pending charges disappear in around 5 days or less, though some institutions ask cardholders to allow up to 7 days to process charges.
What happens when an e-transfer is sent and money isn t deposited? ›
If the recipient has not deposited the funds within 60 days, you can cancel the Interac e-Transfer. The funds, as Page 2 well as the service charge, will be re-deposited into your account. Note that it can take up to 7 business days after the 60 day expiry for funds to be re-deposited.
How do you tell if an e-transfer has been accepted? ›
You will receive messages in your Online Banking Message Centre advising the status of any Interac e-Transfer you've sent, including if it has not been claimed or has expired. You can also check the status at any time by selecting the hyperlinked confirmation number on the Payment History page.
How do I recover a Cancelled e-transfer? ›
If your Interac e-Transfer was cancelled, not to worry! Your funds are completely safe, and they will be automatically returned to your Wallet within 1-2 business days.
What is a reclaim on Etransfer? ›
A reclaim email money transfer is when the Interac e-Transfer transaction can't be delivered. This can happen for several reasons: The recipient's e-mail address is invalid. The recipient can't answer the security question. The recipient declines the transfer.
How long does it take for a declined e-transfer to come back Scotia? ›
How long do refunds for cancelled or declined e-Transfers take?
| Bank | Duration |
|---|
| CIBC | Returning funds may take up to 30 days.⁵ |
| TD | Once declined, the funds will automatically be returned to your account.⁶ |
| Scotiabank | Funds will be returned automatically once the transfer is cancelled.⁷ |
Apr 12, 2023
The process is a little tough, but he/she has to accept that there was a wrong transaction made to his/her account. Then, you need to contact your bank and communicate the matter in detail. You may also have to provide ID proof, address, and other details asked by the bank. Communicate the matter in detail via mail.
