How do I use Request Money?

Request Money is a feature of Interac e-Transfer that you can access through either online banking or our Valley First mobile app.

Using online banking

Log in to online banking and navigate to Transfers > Interac e-Transfer > Request Interac e-Transfer

Select the recipient you wish to request money from. If you haven’t created your recipient’s profile yet, simply click Add New Recipient.

Type in the amount you are requesting and which account you would like the money to be deposited into. If you wish, you can also add a personalized message, explaining what the request is for, include an invoice number and indicate when the payment is due.

Then click Request.

You will be taken to a confirmation page to review the information page so you can either confirm, edit or cancel your request.

Using our mobile app

Log in to your account and tap on Interac e-Transfer. Select Request Interac e-Transfer.

Select the contact you are requesting money from and which account you would like the funds to be deposited into. Indicate the amount you are requesting. If you wish, you can add a personalized message in the Memo field, include an invoice number and a due date.

Then tap Continue.

You will be taken to a confirmation page to review the information you entered and where you can either confirm or cancel your request.

Is there a fee for Request Money?

Yes, the fee depends on the account you have. With our other accounts, sending or requesting an Interac e-Transfer will cost $1.00 per transaction. If you have a High Interest Savings Account, the fee is $5.00 per transaction. Receiving an Interac e-Transfer is always free.

Who pays the Request Money fee?

The individual who initiates the transfer will pay the fee. So whether you request money using the Request Money feature or send a regular e-Transfer, you will pay the fee.

How will I be notified if a request for money is sent to me?

Similar to sending money via Interac e-Transfer, when someone requests money from you through Interac e-Transfer, you will receive a notification to the email address or mobile number you've indicated.

How do I fulfill an Interac e-Transfer request for money?

If you have received a request for money, you will need to click the link that appears in the notification to log in to online banking. You can then fulfill the request by choosing the account you'd like the money withdrawn from. The requestor will receive a notification from Interac once the money is deposited into their account.

Does fulfilling a request require two signers if my business has dual signing requirements?

Yes, businesses who require two signers will need two approvers to review and submit the fulfill request. You will need to log in to online banking and use the transaction manager to provide secondary approvals.

Can I decline a request?

Yes, you can decline a request for money by selecting the decline option within the notification or on the Interac page showing details of the request. If you provide a reason for declining the request, this message will be sent to the requestor.

Are there limits on the amount I can fulfill?

Fulfilling a request counts towards your SEND limit shown in the table here. These limits are shared across all Interac e-Transfer options.

Can I block a Requestor from requesting funds from me or opt-out of the Request Money feature?

Yes, you can opt-out of receiving requests from a particular requestor, or you can opt-out of the service completely by selecting the opt-out option from the request notification email.

How long will it take to receive a notification once my contact sends me a request for money using Interac e-Transfer?

Interac e-Transfer transactions are sent immediately but could take up to 30 minutes depending on the sender's financial institution.

Who can I request money from?

You can request money from anyone with an email address or mobile number who has access to online banking or mobile banking at a Canadian financial institution.

Note: Not all financial institutions allow fulfilling a request. If you have sent a request to someone who cannot fulfill it from their financial institution, please ask them to send a regular Interac e-Transfer to you instead.

Are there limits on the amount I can request?

Yes, you can request a maximum of $3,000 per request and you can have up to 50 outstanding requests. Accepting the funds from a request you sent out will count towards your RECEIVE limit shown in the table here. These limits are shared across all Interac e-Transfer options.

Can I edit or cancel a money request I have initiated?

Yes, you can edit or cancel a money request you have initiated by logging into online banking and accessing the Interac e-Transfer Pending Transfers list. If the money request is listed with an "edit" or "cancel" link then these actions can be taken.

I have a business. Can invoices be attached while requesting money?

At this time, you cannot attach an invoice when requesting money through Interac e-Transfer. However, you can include an invoice number and invoice due date in the message box within the Request Money transaction.

Does initiating a request require two signers if my business has dual signing requirements?

No, only one approver is required to initiate a request.

What happens if I request money using Interac e-Transfer to a landline?

If you also provided an email address when setting up the recipient, the recipient will be notified by email. Otherwise you will be informed that the transfer notification could not be delivered.

Are there reminder notifications for outstanding money requests?

Yes, outstanding requests have automated reminder notifications that are sent to the recipient. Reminders are sent every five days and a maximum of three reminders will be sent. You can also manually trigger a reminder to be sent to the recipient. To do this, log in to online or mobile banking, select the Interac e-Transfer transaction from the Pending Transfers list, and select Resend notification. Manually triggering a reminder will use up one of your three allotted reminders.

How long are outstanding requests valid for?

Money requests are valid for 30 days from the date they are requested. However, the expiry date can be extended by another 30 days if you re-notify the recipient of the outstanding request before it expires.

Will I be notified once the request has been fulfilled?

Yes, once the request for money has been fulfilled and the money deposited, you'll receive a notification that the funds are available in your account.

Once the request has been fulfilled, how long will it take for me to receive the money?

Money being sent in response to a request for money will take the same time as a regular Interac e-Transfer transaction. Most transfers will be sent immediately but could take up to 30 minutes. Once the Interac e-Transfer notification arrives, you'll have instant access to the money.

How is Autodeposit more secure than answering security questions?

Registering for Autodeposit is a secure two-step process that you need to authenticate via online banking and your personal email. Your registration is initiated through online or mobile banking where your legal name is displayed and subsequently used in your communications with Interac and it is completed by confirming Interac's email.

When you are sending an Interac e-Transfer via email to someone that has registered for Autodeposit, we will display the legal name of the individual or business member you are sending the money to. If you do not recognize the legal name, you should contact your recipient before you send your e-Transfer to verify either the email address you are using or the name they are legally registered under.

How do I register for Autodeposit?

You can register for Autodeposit through online banking or mobile banking using the Valley First app.

Using online banking

Log in to online banking. On the left-side navigation menu, select Transfers > Interac e-Transfer > Autodeposit.

Enter the email address you wish to register for Autodeposit and the account you wish funds to be automatically deposited into.

Check the consent boxes and click Register.

You will be sent a verification email to confirm your registration.

In the email, click Complete registration and that email address will be registered with Autodeposit.

Whenever someone sends an Interac e-Transfer to the email address you registered, the money will be automatically deposited into the account you selected.

Using our mobile app

Log in to your Valley First app and tap the Interac e-Transfer tile. Select Settings > Autodeposit > Add Email. Enter the email address you would like to register with Autodeposit and the account you would like money to be automatically transferred to.

Check the consent boxes and select Update.

You will be sent a verification email to confirm your registration.

In the email, click Complete registration and that email address will be registered with Autodeposit.

Can I register more than one email address with Autodeposit?

Yes. You can register up to five email addresses per account.

Will my Autodeposit registration expire?

Autodeposit registrations are permanent as long as the registration is active. If you don't receive an e-Transfer at the registered email address within a year, you will receive an email from Interac asking if you'd like to renew your registration or cancel it.

How can I change the email address for my Autodeposit registration?

If you no longer wish to use the email address you have registered with Autodeposit and you'd like to use a different one instead, you will need to delete your email address from your Autodeposit settings and add your new email address.

If you'd like to use more than one email address to the one you’ve registered with Autodeposit, simply click Add another email on desktop or Add Email in the app, within the Interac e-Transfer settings.

If I register for Autodeposit with a new email address, but someone sends money to my old email address or my mobile phone number, will the deposit be done automatically?

No, the e-Transfer will be sent with an email notification to accept it as the email used is not associated with Autodeposit. To have the funds deposited into your account, you will need to answer the security question.

If I register for Autodeposit with a new email address, but someone sends an e-Transfer to both my email address and mobile phone number, how will I be notified?

You will be notified by email when the funds have been deposited directly into your account.

I used to be registered for the Autodeposit feature but it is no longer active. How can I re-activate my registration?

To re-activate your Autodeposit registration, you’ll need to register again. You can register for Autodeposit through online banking or mobile banking using the Valley First app. 

How can I deactivate my Autodeposit registration?

To deactivate your Autodeposit registration, you will need to log in to your account online, access the Interac e-Transfer Autodeposit settings page and select Delete on all emails that are registered with Autodeposit.

If I send money to a recipient, how will I know if my recipient has the Autodeposit feature enabled?

You will know if your recipient has the Autodeposit feature enabled because the Security Question & Answer will no longer appear and additional text on the screen will indicate that the recipient has registered for Autodeposit.

How long will it take for the money to be received by my recipient?

Money being sent to a recipient registered for Autodeposit will take the same time as a regular Interac e-Transfer transaction. Most transfers will be sent immediately but could take up to 30 minutes. Once the Interac e-Transfer notification arrives, the recipient will have instant access to the money.

Will I be notified when the funds have been received by the recipient?

Yes, once the funds are successfully deposited into your recipient's account via the Autodeposit feature, you will receive a confirmation notification.

Can I cancel an Interac e-Transfer to a recipient who is registered for Autodeposit?

A transaction can only be cancelled if it hasn’t already been deposited. To cancel an Interac e-Transfer transaction, log in to online banking and locate the transfer in the Interac e-Transfer Pending Transfers or Transfer History list. If the transfer doesn't have a "cancel" link beside it, then the deposit has completed and can no longer be cancelled.

Can I still add a Security Question & Answer for a recipient who has the Autodeposit feature enabled?

No, if the recipient has enabled the Autodeposit feature, they have chosen to receive money directly into their account without the need to answer a security question.

Once I’ve registered for the Autodeposit feature, how will I know when someone sends me money?

You will receive a notification by email every time you receive funds through the Autodeposit feature, letting you know that money has been deposited into your account. The notification includes the sender's name and their message to you.

Why do I still have to answer the Security Question after registering for the Autodeposit feature?

Not all financial institutions have the ability to leverage the Autodeposit feature to send funds to registered recipients. There might be instances where you’ll have to answer the security question even after you have registered for the Autodeposit feature.

Are there limits on the amount that will be Autodeposited?

Yes, you can Autodeposit up to a maximum of $10,000 per transfer and up to the overall maximum values shown in the table here. These Interac e-Transfer limits are shared across all e-Transfer options.

How does sending an Interac e-Transfer work?

When you (the sender) initiate an Interac e-Transfer transaction through online banking, an e-Transfer notification is generated by Interac through email or text message and sent to the recipient.

The recipient can accept or decline the Interac e-Transfer by clicking on the transaction link on the notification email/text message. The recipient will need to sign in to their online banking service (at any financial institution) to complete the transaction and access the funds.

Is there a fee to send an Interac e-Transfer?

Yes, the fee depends on the account you have. With our other accounts, sending or requesting an Interac e-Transfer will cost $1.00 per transaction. If you have a High Interest Savings Account, the fee is $5.00 per transaction. Receiving an Interac e-Transfer is always free.

Are there limits on the amount I can send or receive?

Yes. You can send or receive up to $10,000 per transfer. This amount counts towards your overall Interac limits shown in the table here which are shared across all Interac e-Transfer options.

Can I set up a “recurring” or “future dated” Interac e-Transfer?

An Interac e-Transfer cannot be set up as “recurring” or “future dated” at this time.

Will the recipient have immediate access to the funds?

Provided the recipient banks online with a participating financial institution, they will be able to accept the transfer within 30 minutes.

Is there a limit on how many recipients can be added?

There is no limit—you can add as many recipients as you’d like.

Can I resend an Interac e-Transfer notification to the recipient to remind them to accept it?

Yes. You can select the Resend Notice link beside the applicable Interac e-Transfer transaction listed in the Pending Interac e-Transfer section on the Interac e-Transfer page of online banking.

What if the recipient fails to answer the security question correctly?

After three incorrect attempts, the Interac e-Transfer you sent will be blocked and you’ll receive an email notification with instructions to cancel the transfer. If you want to send this Interac e-Transfer again, you’ll need to login to online banking to send it again and another $1.00 service fee will apply.

Is there a timeframe for the recipient to “accept” the Interac e-Transfer?

The recipient has 30 days to accept the Interac e-Transfer. If the Interac e-Transfer is not accepted within 30 days, it will expire. The recipient will receive weekly email reminders from Interac leading up to the expiry date.

Will I (the sender) receive notification when the Interac e-Transfer expires after 30 days?

Yes. You’ll receive and email notification (or text message) to cancel the Interac e-Transfer to reclaim your money—there is a link you’ll need to click on in the notification you receive. You’ll have 30 days to do this. If you do not reclaim your money within 30 days after the transaction has expired (so within 60 days from the time you originally sent the Interac e-Transfer to the recipient), then Interac will initiate a process to return the funds to Valley First so we can process a credit to your account.

If the recipient of my Interac e-Transfer accepts the transaction, can I (the sender) cancel it or reverse it?

Once a transfer has been “accepted” by the recipient, it cannot be cancelled or reversed. As with cash, money transfers should only be sent to parties that are known and trusted.

If the recipient of the Interac e-Transfer banks with a financial institution that does not offer Interac e-Transfer, can I still use this service to transfer money to them?

No. As of June 30, 2018 in order to receive funds via Interac e-Transfer, your recipient must have an account at a Canadian financial institution that offers the Interac e-Transfer service.