How long after sending an e-transfer can you cancel it?

Banking
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E-transfers can be cancelled within 60 days of being sent.

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You can cancel an Interac e-Transfer only after the recipient has received the notification but before the recipient has accepted the funds.

How do I cancel an Interac e-Transfer?

To cancel an Interac e-Transfer:

  • Sign in to Online Banking.
  • Click Transfers and choose Pending Interac e-Transfers
  • Find the transfer you wish to cancel and click the Cancel button on the right.
  • Choose the account in which to deposit the reclaimed funds.
  • Click Continue.
  • Review your information and click Confirm to stop the transfer.

What happens if an e-transfer isn’t accepted?

If the recipient has not deposited the funds, you can resend the notice by clicking Resend Notice beside the transfer status on the Pending Interac e-Transfers page.

The transaction will expire after 30 days from the date sent and a notification will be sent to the sender.

The sender then has 30 additional days (i.e. 60 days from the day it was originally sent) to cancel the transaction and reclaim the funds by clicking Cancel beside the transfer status on the Pending Interac e-Transfers page.

If the sender does not cancel the transaction by this time the transaction will be automatically cancelled.

The funds will be credited back to the sender’s account and a $5.00 cancellation fee will be applied. The initial service charge will not be refunded.

Is there a fee for cancelling an e-transfer?

Yes, there’s a fee for cancelling a pending e-transfer at some banks.

  • Scotiabank- They do not charge a fee for cancelling an e-transfer.
  • CIBC – The fee for cancelling is $3.50.
  • Royal Bank- There’s no fee with RBC.
  • TD Canada Trust- A $5.00 fee is applied if the cancellation is not done within 45 minutes of sending the transfer.
  • BMO- They also have a $5.00 fee unless you cancel before midnight ET the day the transfer is sent.

Final Thoughts

If you need to cancel an Interac e-transfer through online or mobile banking, it is actually not as difficult as you think. However, the process does vary depending on who you bank with.