What are CAD account details?
These are your very own account details to receive Canadian dollars (CAD).
This isn’t a bank account, but the account, institution, and transit numbers we give you work in the same way when receiving money. Just share your account name and numbers with your friends, company or customers, and they can send you CAD from any Canadian bank account.
Learn how to add money to your CAD account.
How to receive CAD
First, you’ll need to get CAD account details.
This will get you a set of local account details for receiving payments from inside Canada, as well as global account details to receive international payments from outside Canada.
Payments from inside Canada
Share your local account details with the person who wants to pay you. They can pay using EFT credits (also known as direct deposits) or with Interac Autodeposit.
They won’t be able to pay using domestic wire. If they send a domestic wire transfer to your account, it will be automatically returned with 25 CAD deducted to cover return processing fees.
Most Canadians making personal transfers in Canada use Interac, so they may not be familiar with sending EFT credits. They may need to reach out to their bank for help. EFT credits are common for Canadian businesses making payments within Canada.
It usually takes 1 to 2 days to receive CAD into your account. But sometimes, it can take up to 3 days.
Payments from outside of Canada
Share your global account details with the person who wants to pay you. They can send SWIFT payments to your account from outside Canada, and should only send CAD to these account details, as we cannot process international payments in any other currency. If they do try to send you a non-CAD international payment, it will be rejected automatically and returned back to the sender.
We charge a 10 CAD fee for all SWIFT payments, which will be deducted from the final amount received to your account. So if someone sends you 1000 CAD, you will receive 990 CAD into your account.
It usually takes 4 to 5 days to receive CAD into your account from outside of Canada.
Some senders may need more details to pay via SWIFT
Your sender might ask you for an institution number, transit number, or routing number. Our partner bank doesn’t use these, but you can still ask your sender to:
pay through a different bank that doesn’t need these details
check if their bank can process the payment with only the SWIFT/BIC code and account number
Set up Direct Debits with your CAD account details
You can share your details with a company, and give them the permission to take regular payments from your account.
You might use Direct Debits to pay for a monthly subscription like the gym, or to pay your phone or energy bill.