About Interac e-Transfers

Email Money Transfers

Interac® e-Transfer is rapidly becoming the preferred way for Ukrainian Credit Union Limited members to send and receive money between accounts. Quick, convenient and secure, Interac® e-Transfer enables our members to transfer funds directly to anyone with an email address or a mobile phone number and an account at a Canadian financial institution.

With Interac® e-Transfer UCU members can send and receive money from either a computer or web-enabled mobile device. The sender does not need to know the recipient’s institution or account information.

Recipients are notified by email or text message when a transfer has been sent and participating financial institutions transfer the funds using secure, established banking procedures.

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
  • No more writing cheques, running to the ATM or paying fees for bank drafts.
Interac® e-Transfer is the secure, quick and cost-effective way to send money. It also means you’ll be able to receive an e-transfer to your account – almost instantly!

To send money via Interac® e-Transfer simply log into your account and select the "Send Interac e-Transfer option from the Transfers menu on the left hand side.

Ensuring the security of your transaction

Interac® e-Transfer is a secure method of sending money between two parties. However it is important that you follow proper internet security guidelines. You should always use a unique password that is not easily guessed (like your birthdate or address for example). You should also pick security questions that are not easily guessed by hackers. For more information on the terms and conditions under which UCU delivers this and other services please make sure you read and understand our Direct Services Agreement

Fees

The fee is $1.50 per transfer to send money to another person. There is no fee to receive an e-transfer to your account. There are no cancellation fees; however, the sending fee is non-refundable. If you cancel an e-Transfer, your account will be credited with the dollar amount of the transfer but not the sending fee.

Transfer Limits

While there are no minimum amounts, there are maximums for both sending and receiving e-Transfers.

Per Transaction Per Week (last 7 days) Per Month (last 30 days)
Sending $2,000 $5,000 $20,000
Receiving $10,000 $25,000 $50,000
 

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