Interac (Canada) – MiFinity

What is Interac?

Interac is an electronic fund transfer service that is available to Canadians via the Canadian Interbank Network named INTERAC. Customers will need to have Canadian bank or credit union account.

What deposit methods are available with Interac?

There are two deposit options that you can use:

Interac e-Transfer. Read more here.
Interac e-Transfer Request Money. Read more here.

How do I deposit with Interac?

For Interac e-Transfer:

Log in to your MiFinity eWallet
Choose Deposit
Click on Alternative Payments and select Interac from the carousel
Choose the eWallet you wish the funds to be loaded into
Enter amount you want to deposit and click on Make Payment

You will be re-directed to a new screen and must complete all the required steps to complete your deposit

Select bank name
Choose preferred deposit option Interac e-Transfer or Interac e-Transfer Request Money

For Interac e-Transfer:

Follow instruction set
Confirm payment within your bank environment
Receive confirmation email and are returned to merchant website

For Interac e-Transfer Request Money:

Select Interac e-Transfer Request Money
You are re-directed to Interac e-Transfer Request Money page
Enter mobile number or email address
Interac will receive a request for money
Select bank & then access your online banking environment
Select your account and send the e-Transfer
You receive confirmation email and are returned to merchant website

What withdrawal methods are available with Interac?

There are 2 withdrawal methods that you can use with the MiFinity eWallet:

INTERAC e-Transfer
Read more here.
eCashout
Read more here.

How do I withdraw from my eWallet using Interac?

Log in to your MiFinity eWallet
Choose Withdraw
Select the eWallet you wish to withdraw the funds from
Click on Alternative Payments and select Interac e-Transfer or eCashout
Enter amount you want to withdraw and click on Make Payment

If you select INTERAC e-Transfer as your withdrawal option:

The recipient will receive an SMS text message with his/her security question answer on the mobile number supplied
An INTERAC e-Transfer email will be sent to the email address supplied
The End-user copies “Recipient email” and “Message” and enters the amount
The recipient will receive 3 reminders until he accepts or declines the INTERAC e-Transfer

If you select eCashout you will be prompted to provide the following information in order to complete the withdrawal

User’s financial institution number
User’s account transit number
User’s account number

How long does it take for a deposit with Interac to be credited to my MiFinity eWallet?

It can take between 1 to 15 minutes for funds to be credited on the basis all the information provided is correct. It can take longer if any information is missing.