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.
