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

An email money transfer (EMT) is a way to send money using an email address or phone number as the notification method. In Canada, the best-known example is Interac e-Transfer. The money moves between participating financial institutions rather than through the email itself.¹

We’ll explain how Canadian email transfers work, how to use them safely and what to consider for international payments.

What is an email money transfer (EMT)?

An EMT lets you send and receive money through online or mobile banking. Interac e-Transfer is widely used in Canada and is available through participating banks and credit unions.¹

The sender chooses a recipient and amount. The recipient receives a notification and follows the instructions to deposit the funds, unless they use Autodeposit. Availability, fees and limits depend on the financial institution.

Are email money transfers safe?

Interac e-Transfer uses established banking procedures, but you should still watch for phishing and payment scams. Verify unexpected transfers through a separate channel, check the sender and URL carefully, and never share online banking credentials. With Autodeposit, eligible incoming transfers go directly into the registered account without a security question.¹

How does an email money transfer (EMT) work?

An email money transfer is a very simple method to send or receive your money.

Once the EMT is initiated, the sender and the recipient both receive a notification of their incoming funds by email.

The money is then delivered using a secure fund transfer network.

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

How long do EMTs take?

Interac says transfers are often almost instant, but they can take up to 30 minutes depending on the bank or credit union.¹ Delays or reviews can also occur.

How do you accept an EMT?

If you receive an Interac e-Transfer notification, first confirm that you expected it. Then use your bank’s app or official website to deposit the money. If the sender used a security question, get the answer from them through a separate, trusted channel. With Autodeposit, the funds may arrive automatically.

How to transfer money by email step by step

If you want to send an Interac e-Transfer:

Step 1. Sign in to your participating bank or credit union through its official app or website.

Step 2. Choose Interac e-Transfer, then enter the recipient, amount and any required message or security question.

Step 3. Review the recipient and amount, then confirm the transfer.

Step 4. Tell the recipient to expect the notification. Share any security answer separately.

Step 5. Check the transfer status in online banking. If something looks wrong, contact your financial institution.

Can you make an international email money transfer?

Standard Interac e-Transfer is designed for transfers to Canadian bank accounts. Interac also supports international transfer services through participating financial institutions, and availability varies.²

For other cross-border payments, compare a specialist international transfer provider. Check supported countries, currencies, fees, exchange rates and delivery estimates before sending.

Make an international EMT with Wise

Wise is not an Interac e-Transfer service. It is an international money transfer provider. For some Wise transfers, you can enter the recipient’s email address and Wise can ask them for the bank details needed to receive the payment. Availability depends on the route and transfer details.³

Wise shows the fee, exchange rate and estimated delivery time before you confirm.

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.

| ✅ Pros | ❌ Cons | | --- | --- | |

• Unlike checks, EMTs don’t bounce.

• In most cases, funds arrive with the recipient immediately.

• Autodeposit can place eligible incoming transfers directly into the registered account without a security question.

• Send money without a recipient’s bank details using Wise.

• The speed of transaction depends on whether the sender and the recipient both use participating banks.

• EMTs are more vulnerable to phishing and email scams.

• Some customers may experience surcharges when accepting a traditional EMT.

• Fraud and phishing remain risks, so verify unexpected notifications and recipient details.

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.

It’s one of the most popular ways to move money between bank accounts online, replacing paper-based methods such as checks and cash.

However, it’s different from an email money transfer, as email isn’t involved in the transaction.

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.

Both EMTs and EFTs are effective money transfer options for different types of transactions.

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.

Standard Interac e-Transfer is domestic to Canada, while some participating institutions offer separate international services. Wise is another option for eligible international transfers.

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

Sources:

Sources checked on 1-Sep-2026.