Streamline your Transactions With Interac e-Transfer® for Business

About Interac e-Transfer for Business

Thinking of ways to send and receive money in a fast, secure and convenient manner? Whether you’re paying employees or sending money transfers to vendors, with just a name and email address, Interac e-Transfer for Business can make all three wishes come true simultaneously. The payment solution, which was launched in 2021, is an enhancement of the existing and ubiquitous Interac e-Transfer solution from Interac that millions of Canadians utilize for personal use. 

While both solutions are similar in many ways, Interac e-Transfer for Business was specifically created with Canadian businesses in mind, providing higher and faster services for all features within the platform. Protected by multiple layers of security and used by some of the biggest players in the FinTech space, Interac e-Transfer for Business is well-regarded for its reliability and efficiency and has quickly become a preferred platform to transact on for many Canadian businesses. 

How Interac e-Transfer for Business Can Help You

With Interac e-Transfer for Business, you can:

• Send up to $25,000 CAD per transaction with just a name and email address
• Send and request unlimited payments, Interac Bulk Payables and Interac Bulk Receivables 24/7, 365 days a year
• Securely deposit funds into your preferred account with Autodeposit 
• Improve your cash flow with near-instantaneous payments
• Simplify reconciliation with invoices, purchase orders and payment details attached directly to the transaction

Send a payment in 4 steps

Step 1: Log in to your business’ online or mobile banking account.

Step 2: Select the “Send Money” option to start the payment transaction.

Step 3: Enter recipient’s account number. You also have the option to add remittance details. 

Step 4: Hit send! You’ll get a real-time notification that the transfer was successful. 

Product Benefits

Everything is digital

With Interac e-Transfer for Business, funds are directly and electronically transferred between accounts, eliminating the need for businesses to write checks or withdraw cash. No more manual reconciliation or waiting around for checks to clear. Also, who wants to deal with lost or stolen funds?  

Scale your business

Spend less time on miscellaneous fees and more time on investing in your business. Integrate withthe Interac e-Transfer for Business solution using a real-time payment API and embed it into your business platform to improve your bottom line. 

Real-time access

Need to make a payment? All you need is a name, email address and internet connection. If you’re accepting payments, your customer will also need the above information. Either way, the funds will show up in the designated account in real-time–a competitive advantage for enterprises and businesses. 

Cash flow management

Being able to instantly pay wages, bills and vendors or suppliers means an increase in cash flow and transaction reporting. Through Interac e-Transfer Bulk, Autodeposit and Request Money, businesses can maintain a strong cash flow and run a successful business. 

About Interac e-Transfer for Business Thinking of ways to send and receive money in a fast, secure and convenient manner? Whether you’re paying employees or sending money transfers to vendors, with just a name and email address, Interac e-Transfer for Business can make all three wishes come true simultaneously. The payment solution, which was launched…