As Canadians, we’re no strangers to using Interac e-transfers as a quick and easy way to send and receive money. But what happens when you need to cancel an Interac e-transfer that you’ve sent, or if you’ve received an e-transfer that you no longer want or need?
First off, it’s important to note that e-transfers can’t be cancelled in the same way that you might cancel a credit card transaction or void a cheque. E-transfers are essentially electronic versions of cash, and once they’ve been sent, they’re almost like they’ve been handed over in person.
That being said, there are still a few steps you can take to try and cancel an e-transfer. Here’s what you need to know.
If you’ve sent an e-transfer from your savings account and the recipient hasn’t yet accepted it, you may be in luck. Some financial institutions will allow you to cancel an e-transfer that hasn’t been accepted yet. This is because the money hasn’t actually left your account yet, so it’s relatively simple to cancel the transfer and have the funds returned to you.
How To Cancel An E-Transfer On RBC?
- Sign in to your Online Banking.
- On the Accounts Summary page, to the right, select Payment History.
- Select the e-Transfer that you want to cancel.
- Select Cancel Payment and follow the on-screen instructions to cancel the transfer.
Cancelling An E-Transfer On TD
- Sign in the TD app.
- Review the transfer that you’ve selected to cancel.
- Select “Cancel transfer” at the bottom of the screen.
- Confirm by selecting: Yes, Cancel.
How To Cancel An E-Transfer On ScotiaBank?
- Sign in the ScotiaBank app.
- Hit “Move money”.
- Hit “Interac e-Transfer”.
- Select “Manage”.
- Select the e-transfer to cancel and hit “Cancel this transfer”.
Cancelling An E-Transfer On BMO
- Log on and select “Payments and Transfers”
- Click “Interac e-Transfers”
- Select the e-transfer to cancel and hit “Cancel e-transfer”
How To Cancel An E-Transfer On CIBC?
- Log on or open the CIBC App.
- Hit “Interac e-Transfer”.
- Find your transaction and click it.
- Select “Stop” then “Next.”
- Hit Confirm to confirm.
Cancelling An E-Transfer On National Bank
- Log on the bank site.
- Click Overview on the left.
- Hit Money sent and select ”Pending”.
- Select the e-transfer you want to cancel and click Cancel.
- Select where to reclaim the funds.
How To Cancel An E-Transfer On Desjardins?
- Login on AccesD.
- In the menu on the right, click Search transactions and choose Interac e-Transfers.
- Under Pending transfers, select the payment you want to cancel.
- Click Delete.
If You’ve Received An E-Transfer That You No Longer Want Or Need
If you’ve received an e-transfer that you no longer want or need, you’ll need to contact the sender and ask them to cancel the transfer. Keep in mind that the sender may not be able to cancel the e-transfer if it has already been accepted by the recipient (that is, you).
If the e-transfer hasn’t been accepted yet, the sender may be able to cancel it and have the funds returned to their account. However, if the e-transfer has already been accepted, the sender will no longer have control over the funds. In this case, you’ll need to return the funds to the sender yourself.
To return the funds to the sender, you’ll need to initiate a new e-transfer and send the money back to them. Keep in mind that you’ll need to provide the sender with your financial institution’s e-transfer information, such as your email address or mobile phone number.
If You’re Unable To Return The Funds To The Sender
If you’re unable to return the funds to the sender, you may need to contact your financial institution for assistance. Explain the situation and request that they help you return the funds to the sender. Your financial institution may be able to provide you with further instructions on how to proceed.
It’s also worth noting that if you’ve received an e-transfer that you believe was sent to you in error, you may need to report the incident to your financial institution. They may be able to help you resolve the issue and recover the funds.
The Bottom Line To Cancelling An E-Transfer In Canada
Cancelling an e-transfer isn’t always a straightforward process, but it is possible to try and cancel an e-transfer if it hasn’t been accepted yet. If you’ve sent an e-transfer and you need to cancel it, you’ll need to contact your financial institution ASAP. Request that they cancel the transfer if you cannot do it with our instructions. If the e-transfer hasn’t been accepted yet, your financial institution may be able to cancel it. They would then return the funds to your account.
If you’ve received an e-transfer that you no longer want or need, you’ll need to contact the sender. Ask them to cancel the transfer. If the e-transfer hasn’t been accepted yet, the sender may be able to cancel it. They would then have the funds returned to their account. If the e-transfer has already been accepted, you’ll need to initiate a new e-transfer and send the funds back to the sender.
If you’re unable to return the funds to the sender, you may need to contact your financial institution for assistance. They may be able to provide you with further instructions on how to proceed.
It’s always a good idea to double-check the details of an e-transfer before you send or accept it, to ensure that you’re sending or receiving the correct amount of money to the right person. By following these steps, you can help to ensure that your e-transfer experience is smooth and hassle-free.
