How to Cancel an E-Transfer? [Banking in Canada]

In this article, weโ€™re going to share how to cancel an e-transfer from your Canadian bank account.

Of course, if youโ€™re new to banking in Canada, you can also access our other free resources to help you navigate your options.

These resources range from a detailed breakdown of the largest banks in Canada to opening accounts for non-residents.

Feel free to use the table of contents to jump ahead to the sections most relevant to you.

Table of Contents

  1. How to Cancel an E Transfer
  2. Canceling a Pending Interac E-Transfer
  3. Frequently Asked Questions
  4. Ready to Explore Your Options?

How to Cancel an E-Transfer?

You can cancel an e-transfer if it was not already accepted or received via auto-deposit into the recipient’s account. To do so, log into your online bank account, select transaction history, select the transaction you wish to cancel, and follow the steps outlined by your financial institution.

While Interac e-transfers are free for users to send, itโ€™s important to note that your bank may levy a small fee for canceling a transaction that is already scheduled. And, as mentioned, if the transaction has already been accepted by the recipient, you will not be able to cancel or recall the transaction.

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Canceling a Pending Interac E-Transfer

Canceling a pending Interac e-transfer is possible at all participating financial institutions. The simplest way to cancel a transfer is to log into your online banking. There you will want to select the transfer you wish to cancel, and follow the steps outlined by your bank. Of course, if your e-transfer has already been accepted by the recipient then you will not be able to cancel or reclaim the transfer. If you have any difficulties or need further assistance, be sure to contact your bank directly.

Frequently Asked Questions

Below are three of the most common questions we receive from people looking into how to cancel an e-transfer. If you have further questions you would like answered, donโ€™t hesitate to get in touch with us directly.

Why Canโ€™t I Cancel My E-Transfer?

If you are having difficulty canceling your e-transfer, it may be because the transfer has already been accepted. In fact, if the recipient has auto-deposit enabled, this is almost certainly the case. On the other hand, if you did not receive notification that the e-transfer has been received and the recipient does not have auto-deposit turned on, you should log into your account and try to manually cancel the e-transfer. If this fails, you should contact your financial institution as soon as possible to try and remedy the problem.

How Do I Cancel an E-Transfer On My Phone?

To cancel an e-transfer on your phone, you can either log in to your online bank account through a web browser or use one of the applications for your online banking. In both instances, you will then navigate to your sent transactions, select the transaction you want to cancel, and proceed with the steps to cancel the transaction manually.

Can You Get an E-Transfer Back?

You cannot get an e-transfer back after it has been accepted by the recipient. However, you can cancel a pending e-transfer if it has not already been accepted. Likewise, if the e-transfer is not accepted by the recipient after 30 days following the transaction, it will be returned to the sender.

Ready to Explore Your Options?

If you would like assistance navigating your banking options at home or abroad, we can help.

You can access GlobalBanks IQ, our international banking intelligence platform, in just a few clicks. Unlock our bank database, individual bank profiles, account opening strategies and reports, banker scripts, and more.

But, if you want a 100% personalized account opening service that taps into our teamโ€™s expertise and provides direct banker introductions, you can get started with GlobalBanks Insider.

Of course, if you have any questions, please contact us directly.

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GlobalBanks Team
GlobalBanks Team

The GlobalBanks editorial team comprises a group of subject-matter experts from across the banking world, including former bankers, analysts, investors, and entrepreneurs. All have in-depth knowledge and experience in various aspects of international banking. In particular, they have expertise in banking for foreigners, non-residents, and both foreign and offshore companies.

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