Four taps to send money. One of them cannot be undone.
Walk through an Interac e-Transfer step by step and see exactly where it becomes irreversible.
- 1You enter an email or phone numberOne typo sends the money to the wrong person.
- 2You set a security question
- 3The recipient gets a notification
- 4They accept — money is gone
Debit spends your money. Credit spends theirs.
A debit card moves money that is already in your account, immediately. A credit card borrows money you then have to repay. The plastic looks the same and the checkout is identical, which is exactly why the difference gets forgotten.
- Debit: instant, limited by your balance, no interest, no borrowing record.
- Credit: borrowed, limited by a credit limit, interest if unpaid, builds a record.
- A declined debit card means you are out of money. A declined credit card means something else entirely.
Is this a scam or a normal transfer?
These are the messages people actually receive.
- "You have money waiting — click to claim" from an unknown sender
- A transfer from a friend you just asked to pay you back
- "Your account is locked. Verify your banking password here."
- An employer asking for your account number to set up direct deposit
- Someone sending too much and asking you to send the difference back
Quick check
Answering every check in this lesson completes it automatically.
The habits that keep your money yours
Tap each one.
Marcus gets a transfer he was not expecting
Marcus receives an e-Transfer notification for $250 from a name he does not recognise. Minutes later, a text says it was sent by mistake and asks him to send it back to a different address.
Check your understanding
Answering every check in this lesson completes it automatically.
One more
Answering every check in this lesson completes it automatically.
Sent is sent. Check the address before, not after.
0 of 3 checks answered