e-Transfers
OECU is pleased to
launch “e-tsf” the simple, secure way
to transfer money from anywhere to anyone.
The
simple, secure way to transfer money from anywhere to anyone. Send
or receive money in a snap with Interac e-Transfer. All you need is
an email and/or mobile phone number and an account at a Canadian
financial institution. As a sender, you don't need to worry about
figuring out where the person banks and they won't know where you do
your banking, because all account details and financial institutions
are kept confidential.
Whether you owe a
friend, need to pay your share of the rent or expect to receive
money from friends or family, we've got you covered.
It's easy.
There's no need to set up any new accounts, user IDs or passwords.
As long as both parties have online banking accounts, all you need
to send or receive money is the recipient's mobile phone number or
email address.
It's secure.
When you send an Interac e-Transfer by text or email, the money
never travels with the message. Instead, recipients receive an
encrypted link to deposit the funds using their own banking
credentials.
It's convenient.
With Interac e-Transfer, you can use any computer or mobile phone to
send or receive money instantly by text or by email. Whether you owe
your friend, he owes you or they just don't take plastic, you'll
never need to worry about carrying cash again.
It's quick.
Recipients are notified by email and/or text that they have received
a payment within approximately 30 minutes from when the sender
initiates the transfer.
Ways to use it
Interac e-Transfer is a quick and convenient way to transfer
money for almost anything, such as:
-
Repaying money you
borrowed from a friend
-
Sending cash to
children at college or university
-
Transferring your
share of rent to your roommate
-
Sending money in
place of a gift
-
Paying the invoices
of suppliers or contractors.
How to send and
receive an e-Transfer
Sending:
-
Ensure you know the
recipient’s name and email address or mobile phone number.
-
Log in to your
account via OECU online banking with your computer or
smartphone.
-
Select
eTransfers from the menu. This will automatically launch the
eTransfer page.
-
Set up your
recipient(s) by entering their name and email address on the
Add/Delete Recipients page. You can also choose to notify
your recipient via text, in which case you would enter their
mobile phone number.
-
Create a security
question that only they will know the answer to. If it's a
friend, for example, the question might be: "our favorite place
for dinner”.
-
Once you've set up
your profile and recipient(s) select your recipient from the
dropdown list on the Send INTERAC® e-Transfer
page.
-
Indicate the amount
you'd like to send, and optionally include a Message to the
recipient.
-
Click the Send
Transfer button.
Note: Your account will be debited the amount you have
sent, as well as a service fee once you click Send Transfer.
-
Funds are
immediately debited from your account and the recipient is
alerted by email and/or text message that they have received an
e-Transfer that they can then deposit into their own account
securely using their computer or smartphone and their own
financial institutions online banking site.
Receiving and
depositing:
-
Click on the link
provided in the email or text (to be taken to the Interac®
website).
-
Select Ontario
Educational Credit Union from the available list in order to
deposit the funds.
-
Login to your
online account with Ontario Educational Credit Union.
-
Provide the answer
to the security question.
-
Accept the
transfer.
-
Typically, the
funds will be immediately available; however, allow up to 30
minutes for system processing for the funds to arrive in your
account.
® Trademark of Interac Inc. Used under license
|
