I have had a few people ask me about etransfers and how they work, so here it is in a nutshell.
If you have your account with one of the banks that belong to the certapay network (most banks do, but not all) AND if you have signed up for general online banking, then you can do etransfers.
Etransfers are a direct transfer of funds, with a minimal fee) from one bank to another. It is usually pretty much instant. It is ABSOLUTELY secure. It works through the INTERAC system that the ATMs/Cash Machines work through. I use it to pay for things, and have used it to lend a friend/sibling money when they are in a bit of an emergency, to move money from one back to another in my own accounts. Cheaper to do this than the gas to drive to town.
Here is how it works.
1. Open your own online banking.
2. Select E-TRANSFER or ELECTRONIC TRANSFER
3. Depending on your bank you will either :Add a Payee" or you will enter the email address of whomever you are sending it to.
4. Put in the amount you want to send
5. Enter a password *Keep it simple, at least 6 or 7 letters long, depending on the bank, and rememeber it is case sensitive!*
6. hit Send.
7. Email the person the password you have chosen.
The other person will get your email, usually within a minute. Then they will...
1. Click on the provided link
2. Select their bank
3. Log into their banking as usual
4. Put in the password you provided.
5. Accept the money.
NOTE* This can also be sent via text message, although I am not sure how. CIBC does have a phone app jus for this!
The system is absolutely safe. You do NOT provide each other any banking information! Just each other's regular email addys. You can use ANY addy. You are not logging in using your email, you are logging in using the link provided in the email which is sent onto your bank.
Some banks charge $1 others are free. Depends on how you are set up. It is cheaper for me to do this than to write a cheque, buy a stamp, get an envelope, drive to the postoffice or mailbox. It can be done at any time of the day. I believe there are times/holidays when the transfer may not be instant. It could take a day, but I have had that happen only once and that was on a holiday weekend.
So, hope that helps and answers a few questions.
CHB is accepting etransfers for entries, sponsorship etc.
I have to check with our Treasurer as to what the email address is. If you have any questions you can check with your bank, have a look throuigh your online banking, or check out [You must be registered and logged in to see this link.] for more info or there is a Wikipedia page about it.
It is a good good thing.
s
If you have your account with one of the banks that belong to the certapay network (most banks do, but not all) AND if you have signed up for general online banking, then you can do etransfers.
Etransfers are a direct transfer of funds, with a minimal fee) from one bank to another. It is usually pretty much instant. It is ABSOLUTELY secure. It works through the INTERAC system that the ATMs/Cash Machines work through. I use it to pay for things, and have used it to lend a friend/sibling money when they are in a bit of an emergency, to move money from one back to another in my own accounts. Cheaper to do this than the gas to drive to town.
Here is how it works.
1. Open your own online banking.
2. Select E-TRANSFER or ELECTRONIC TRANSFER
3. Depending on your bank you will either :Add a Payee" or you will enter the email address of whomever you are sending it to.
4. Put in the amount you want to send
5. Enter a password *Keep it simple, at least 6 or 7 letters long, depending on the bank, and rememeber it is case sensitive!*
6. hit Send.
7. Email the person the password you have chosen.
The other person will get your email, usually within a minute. Then they will...
1. Click on the provided link
2. Select their bank
3. Log into their banking as usual
4. Put in the password you provided.
5. Accept the money.
NOTE* This can also be sent via text message, although I am not sure how. CIBC does have a phone app jus for this!
The system is absolutely safe. You do NOT provide each other any banking information! Just each other's regular email addys. You can use ANY addy. You are not logging in using your email, you are logging in using the link provided in the email which is sent onto your bank.
Some banks charge $1 others are free. Depends on how you are set up. It is cheaper for me to do this than to write a cheque, buy a stamp, get an envelope, drive to the postoffice or mailbox. It can be done at any time of the day. I believe there are times/holidays when the transfer may not be instant. It could take a day, but I have had that happen only once and that was on a holiday weekend.
So, hope that helps and answers a few questions.
CHB is accepting etransfers for entries, sponsorship etc.
I have to check with our Treasurer as to what the email address is. If you have any questions you can check with your bank, have a look throuigh your online banking, or check out [You must be registered and logged in to see this link.] for more info or there is a Wikipedia page about it.
It is a good good thing.
s
Last edited by Arcticsun on Wed Nov 02, 2011 1:57 pm; edited 1 time in total
