With an Interac e-Transfer, CIBC or another bank can send you money fast. If you want to get an e-Transfer from your CIBC account, you’ll need to take some safety steps first. We’ll tell you what to do and give you a way to make it easier. There is also a way to ask a person for money, so read on!
How to Get an E-Transfer in Your CIBC Account?
It’s actually very easy, but you need to sign up for the service before we can talk about it.
- Use CIBC Online Banking or Mobile Banking to get to your account.
- Go to the part about Interac e-Transfer.
- Once you’re there, you’ll need to give your name, a current email address and phone number, and your Notification settings.
- Type in this information, then click Next.
- Look over the terms and conditions and click “I agree” to finish the registration process.
- Now you can use everything CIBC Interac e-Transfer has to offer.
When you get a CIBC e-Transfer, you usually get an email or a text message telling you. It will have the sender’s information, the amount of money they are sending, and a link to your bank account where you can place the transfer. If needed, the person sending the transfer can write a short note that will be sent along with it.
After you click on the link, you will have to choose whether you want to open your account through CIBC Online Banking or Mobile Banking. Sign in to your account and click Deposit your Interac e-Transfer.
The next step is to answer a security question. But don’t get too worried; it’s not from the CIBC. The sender is the one who asks the question, and it must be easy to answer so that you can get the money.
The last step is to choose the account where you want the money to go. And that’s all there is!
How to Use CIBC Interac e-Transfer to Ask for Money
Another way to get an e-Transfer in your CIBC account is to ask for it. This choice is in the same area as the one we talked about before. Find the person you want to ask for money from (or add a new one), put in the amount, choose where you want the money deposited, and add a message if you want to.
After you’ve confirmed, click Send Request, and then all you have to do is wait until the sender decides whether or not to accept the request. Be ready to pay a fee of $1.50 for every request you make.
You can only ask for so much at a time. You can choose up to $10,000 at CIBC, but the limits at other banks are different. Also, you can only have up to 200 e-Transfer requests at a time.
Is there a fee to receive an e-transfer from CIBC?
We have good news, though. When you receive an e-Transfer from CIBC, there is no fee.
Sign up for an e-transfer autodeposit from CIBC.
You should turn on Autodeposit if you don’t want to go through this process again. This lets you get money from a CIBC e-Transfer without having to open an account.
When you go to the Interac e-Transfer area, choose Autodeposit Settings and then choose the account where you want to put the money. Review the terms and conditions, and if you agree to them, you can finish the register.
This way, when someone tries to move money, it will directly go to the account you chose, and you won’t have to answer the security question every time. But this won’t help the sender, since they can’t now stop the move if they need to.