Email money transfer (EMT): everything you need to know

An email money transfer (EMT) is a way to send money using a recipient’s email address as an identifier or notification method. The exact process depends on the bank or payment provider. In some services, the recipient can deposit the money without sharing their bank details with the sender.

In Canada, EMT commonly refers to an Interac e-Transfer. Other countries and providers use different names for similar email-based payment features. This guide explains how email money transfers work, how to use them safely, and how Wise can help when you need to send money internationally by email.

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What is an email money transfer (EMT)?

An EMT is an electronic payment initiated through a bank or payment provider. The sender enters the recipient’s email address, mobile number or other identifier, and the recipient receives instructions to claim or deposit the money.

In Canada, EMT usually means Interac e-Transfer. The money does not travel through the email system. The email or text message provides a notification and deposit instructions, while the funds move through secure payment networks used by financial institutions.¹

Interac e-Transfer is one of the most common examples of an EMT. It works with participating Canadian banks and credit unions and supports personal payments, requests for money and some business payment use cases. Elsewhere, a bank or payment provider may use email to notify the recipient or collect the bank details needed to complete an international transfer.

In particular, many business owners like to use EMTs for their customer transactions.

It’s easy to invoice multiple customers at once, streamlining payroll or supplier systems with a simple EMT payment.

Businesses and individuals can also avoid frustrating void payments, as all funds are instantly debited from the sender’s account before arriving with the recipient.

The big five banks in Canada use email money transfers.

Are email money transfers safe?

The safety of an EMT depends on the provider. Interac e-Transfers use encryption, secure payment networks and fraud-monitoring systems. If the recipient has not enabled Autodeposit, they must sign in to online banking and answer a security question before depositing the money.¹

Email and text notifications can still be used in phishing scams. To protect yourself:

• Confirm the recipient’s name and contact details before sending.
• Do not click an unexpected payment link before checking with the sender through another channel.
• Use Autodeposit when appropriate so you do not need to manage security questions.
• Use a strong security question and answer if Autodeposit is not available.

However, the use of email does put you at risk of phishing or other email scams. To avoid this, it’s best to double-check with the sender before accepting an unexpected EMT in your inbox.

How does an email money transfer (EMT) work?

The exact steps vary, but an email money transfer generally follows this process:

1. The sender signs in to online banking and enters the recipient’s email address or mobile number, the amount and an optional message.
2. The sender confirms the payment through their financial institution.
3. The recipient receives a notification with instructions to deposit the funds.
4. If Autodeposit is not enabled, the recipient signs in to online banking and answers the sender’s security question.
5. The funds are deposited into the recipient’s eligible bank account or made available through the payment provider.

Funds for email money transfers are debited straight away — meaning this is a successful alternative payment method to checks.

How long do EMTs take?

Timing depends on the provider, destination, payment method and whether the recipient uses Autodeposit. Many domestic transfers are completed quickly, but international transfers can take longer. Transaction limits are set by the sender’s and recipient’s financial institutions or payment providers.

How do you accept an EMT?

If you receive an Interac e-Transfer notification, check that you recognize the sender before opening it. Follow the link or instructions in the notification, sign in through your financial institution’s online banking service and answer the security question if required. If you have Autodeposit enabled, the money may be deposited automatically after the sender completes the transfer.¹ Other providers may ask you to enter bank details or claim the money through an account with that provider.

How to transfer money by email step by step

To send an email money transfer, open the relevant bank or payment-provider service. For a Canadian Interac e-Transfer, the process is usually:

Step 1. Sign in to online banking and select Interac e-Transfer or the equivalent send-money option.

Step 2. Choose an existing recipient or add the recipient’s email address or mobile number.

Step 3. Enter the amount and add a message if needed.

Step 4. Create a security question and answer if the recipient does not use Autodeposit.

Step 5. Review the recipient’s name, amount and account details, then confirm the transfer.

Autodeposit can make transfers easier because the recipient does not need to answer a security question. It can also reduce the risk of a recipient entering information on a fake website, but you should still verify the recipient before sending.

Can you make an international email money transfer?

Yes, but the available method depends on the provider. Standard Interac e-Transfer is designed for transfers to participating Canadian bank accounts. Interac also says that international transfers are available through National Bank, so availability depends on the financial institution and service being used.¹

If you are sending money from the US or paying someone in another country, a cross-border money transfer service may be more suitable than a domestic bank EMT:

These providers include:

• Wise
• PayPal
• Interac e-Transfer — originators of the EMT service
• Google Pay

Use providers like Wise to conveniently transfer your money wherever it needs to go!

Make an international EMT with Wise

Just because you can’t make an EMT outside of Canada using most banks, that doesn’t mean it’s not possible.

This is where Wise comes in!

Use Wise to send your money by email to friends and family all over the world. And if you don’t know someone’s bank details — that’s okay too.

Simply enter their email address and Wise will do the rest.

Wise will ask the recipient to input the bank details on their end, letting them receive any funds in their preferred account. Simple!

And you don’t need to worry about losing your money. If the recipient doesn’t enter their bank details within a week, Wise will simply cancel your transfer and send the funds back into your account.

Send money to anyone
and everyone with Wise 🚀

As international transfer experts, you can always expect a fair exchange rate, transparent transfer fees, and speedy payment transactions when sending your EMT with Wise.

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What are the pros and cons of EMTs?

It’s important to make an informed decision when choosing how to transfer your money — and there are a few things to understand about email money transfers.

Let’s look at some of the pros and cons of EMTs.

What's the difference between EMT and EFT transfer?

You might have heard of an electronic fund transfer (EFT). In fact, chances are you’ve even made an EFT payment before.

An electronic funds transfer (EFT) is a broad term for moving money electronically between accounts. It can include direct deposits, bank-to-bank transfers, wire payments, electronic checks and other online transactions.

An EMT is a payment flow that uses an email address or mobile number to notify the recipient or start the claim process. An EFT is a broader term for electronic movement between accounts and may use the sender’s and recipient’s bank account details directly, without email being part of the payment flow.

In most cases EMTs are instant. As soon as the recipient receives an email, they can access their money.

However, EFTs are bank-to-bank transactions, meaning there are certain additional processes before the money is transferred between accounts. EMTs also have lower limits than EFTs.

There are a few kinds of EFT payments, such as electronic checks, direct deposits, phone payments, ATM payments, wire transfers, and internet transactions.

The right option depends on the payment. An Interac e-Transfer may suit a quick payment to someone with a participating Canadian account. An EFT or wire transfer may be more suitable for payroll, recurring business payments or larger international transactions.

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Transferring money via email is a quick, convenient, and easy solution to send your money to a business or personal bank account.

Although there are some concerns about the safety of EMTs in light of phishing or email scams, banking providers offer secure web links and security blockades before anyone can access your money.

For international payments, Wise offers a separate send-by-email feature for eligible transfers. You can start with the recipient’s email address, and Wise will securely request the bank details needed to complete the payment.

To find out more about transferring your money via email, check out Wise.

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**Sources:**

1. Send and receive money with Interac e-Transfer | Interac
2. How can I send money to an email address? | Wise Help Centre
   Sources checked on 8 September 2026