To cancel an e-Transfer, the general steps are as follows:
- The e-Transfer must still be pending (the recipient has not accepted or deposited the funds).
- Log in to your online banking or mobile banking app.
- Navigate to the section for Interac e-Transfers or Payment History.
- Find the e-Transfer you want to cancel (often under "Pending Transactions" or "Transfer History").
- Select the specific transfer and choose the option "Cancel Transfer" or similar.
- Follow the on-screen instructions to confirm the cancellation.
- Once canceled, the funds will usually be returned to your account.
Important notes:
- You can only cancel before the recipient accepts the e-Transfer.
- Some banks allow cancellation within 30 days before the transfer expires.
- Scheduled e-Transfers can usually be canceled until the scheduled time (often a specific cutoff time like 5:30 am EST on the transfer date).
- If the recipient is enrolled in auto-deposit, cancellation might not be possible; arrangements with the recipient will be needed.
- Specific steps vary slightly by financial institution and app interface.
This process applies to Interac e-Transfers, the most common type in Canada, but the exact navigation depends on your bank's platform. Examples include:
- RBC: Move Money > Send Interac e-Transfer > History > Select transfer > Cancel Transfer.
- SCU: More > Interac e-Transfer settings > History > Pending Transactions > Select transfer > Cancel.
- ScotiaBank: Scotia OnLine or mobile app > Pending transfer > Cancel if not yet deposited.
- Wealthsimple: Activity tab > Pending or Scheduled activities > Select transfer > Cancel.
- Vancity: Transfer Money > View/Resend/Cancel Pending Transfers > Cancel.
If using a specific bank, it is best to follow that bank’s instructions for precise navigation. In summary, to cancel, log in to your bank’s online or mobile banking, go to your transfer history or e-Transfer section, locate the pending e-Transfer, and select cancel before it is accepted by the recipient.