In this article, we’re going to share how to cancel an e-transfer from your Canadian bank account.
Of course, if you’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 dominant institutions and 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
- How to Cancel an E-Transfer?
- Can I Cancel a Pending Interac E-Transfer?
- Frequently Asked Questions
- Do You Want Help Opening Bank Accounts?
How to Cancel an E-Transfer?
You can cancel an e-transfer if it has not already been 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, it’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.
The timeline of transfers varies and how long an e-transfer takes depends on who you are transferring funds to, the security measures that are in place, and the processing time of the bank you are transferring from. However, if you’re transfer is not completed and want to know why your e-transfer is taking so long, other factors may be impacting the delivery, which we cover in our free article linked here.
Before diving in any further, if this is your first time visiting GlobalBanks, don’t forget to download your FREE Non-Resident Banking Starter Guide. It’s designed to help non-residents open an international bank account in top banking hubs around the world.
Can I Cancel 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, don’t hesitate to get in touch with us directly.
Why Can’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.
Do You Want Help Opening Bank Accounts?
If so, you can access GlobalBanks Insider and start the process of applying for an offshore account in a few clicks.
GlobalBanks Insider is a dedicated account opening solution that involves direct support from our team and direct introductions to the banks of your choosing. It gives you instant access to the…
+ Direct support from a team of banking experts
+ Direct introductions to your desired banks
+ Answers to your most pressing questions and challenges
+ Expert insights on which banks to choose & why
+ Plus FULL access to our entire suite of account opening tools and intelligence!
And “yes!” GlobalBanks Insider is designed to help foreign and non-resident individuals and companies open bank accounts.
You can learn more on the products page from the main menu above.
