You’re probably here because you want to know if you can stop an e-transfer from CIBC. Well, you can stop an e-Transfer as long as the person who is getting it hasn’t accepted it yet. The process is easy and mostly the same as when you want to move money. But there are a few cases where you don’t have to stop it to get your money back.
How to Cancel a CIBC e-Transfer So, if you already have a CIBC account, we’ll show you how to quickly stop any CIBC Interac e-Transfer. So continue to read this article!
How to get CIBC to stop an Interac E-transfer
The person you sent money to has 30 days to get it. You can stop the CIBC e-Transfer during this time. Here’s what you should do:
- Sign in to your account as a first step.
- Choose the part that says “Interac e-Transfer.”
- Check on the progress of the move. How? Review and Manage Transfers is where you need to go in CIBC Online. Choose Stop Transaction from the Mobile Banking menu.
- Click on the transaction you want to cancel. You can only cancel transactions that say “Sent.”
- Select Stop this Interac e-transfer, and then go to the next step.
- Read the terms and conditions and agree to them.
- Choose the account where the money should go.
- Check the box next to “Confirm” to stop the CIBC e-Transfer.
Does it cost money to stop an e-transfer from CIBC?
There are fees for both transfers and transactions. The fee for a transfer is $1.50, and the fee for a transaction is $3.50. So, make sure you have enough money to pay them.
Also, if they have the Autodeposit feature, you won’t be able to get your money back. Instead, they will go straight into their account.
When you can get your money back from a CIBC e-Transfer
As we’ve already said, the person getting the money has 30 days to accept it. But if they don’t claim it within the time limit, the money will go back to your account immediately.
There are also other ways you can get your e-Transfer back:
- If the person receiving the money didn’t want it.
- If they didn’t know the right answer to the security question, they couldn’t get in.
- Or if the email address or cell phone number you put in for your contact doesn’t work.
Because of these things, before you stop an e-Transfer from CIBC, you should make sure you haven’t already gotten the money back. Accidents like these can happen, but if they don’t, use what you’ve learned in this piece.