Yes, Interac e-transfers are traceable. You can trace payments, view a customer’s transaction history and access payment details.
Interac e-Transfer is Canada’s very own funds transfer system, available by default to all residents of the country who use online banking services.
Can you trace Interac e-transfers?
After sending an e-Transfer, you’ll have the option of tracing your money by viewing your transaction history and the respective payment details.
Either your banking statement, paper or mobile banking or your financial institution will be able to show any e-transfers sent or accepted.
As a result, the only information that shows up or can be found is what was provided at the time of the e-transfer, which is usually the sender/recipient name, amount, and any notes.
How to e-Transfer?
You can initiate an Interac e-Transfer anytime and anywhere with online access. You can do it using your computer or with your bank’s mobile banking app.
To send an email money transfer or Interac e-transfer, you will need to have a bank account with a Canadian financial institution set up.
Access this service by logging onto your account through a desktop or mobile device. The user must first select the recipient who will receive the transfer, adding their email address and/or mobile number to their contacts.
Typically, to add a new recipient of an e-transfer, the bank will send a code to your phone that you must verify first before they can be added to the contact list.
After the new recipient has been added, the user can select their email or mobile number to send through, the amount to send, and a security question and password the recipient must use to access the transfer.
Once the user confirms all details, the amount is instantly debited from the bank account. The recipient will then receive instructions on accessing the transferred amount, including the security question they must answer.
Final Thoughts
Interac e-Transfers are fast and secure as you don’t have to share your bank account information with the sender or receiver for the transfer to happen.