Interac Request Money

Interac Request Money

Request Money allows members to have their recipient send them money via their online banking account. Money can be requested by sending an email or SMS to any individual or business in Canada.  When the request is accepted and money transferred, the 'requestor' is provided a notification once the funds are deposited into the account selected as part of the original request. 

What does a Request Money notification look like? Request Money notifications look similar to the current Interac e-Transfer® notifications for sending funds except that they include the legal name of individual or business making the request.   

Once a Request Money has been fulfilled and deposited into the requestor’s account, the requestor will be charged the service fee of $1.50 (free for Student Masterplans & e-accounts).

How to Request Money

Desktop Icon


  1. Log into online or mobile banking and navigate to Transfer Money on the left hand menu.
  2. Select Request INTERAC e-Transfer.
  3. Select the person you want to request funds from.  You can choose a pre-existing contact or add a new recipient. You will need to check a box confirming that you have notified the person who will be receiving the request, and have their permission.
  4. Enter in the specified amount you are requesting and select the account you would like the funds to be deposited into. You have the option to add a personalized message, an invoice number or a due date. This is useful for small business members.
  5. Once the recipient has fulfilled your request, funds will be deposited into your bank account and you will be notified. At this time the service fee will be applied to your account.

| Click here for a graphic overview |
Mobile Icon
  1. Open the Heritage Credit Union Mobile app.
  2. Login with your Personal Access Code (PAC #)
  3. Select the INTERAC e-Transfer tile on the home screen of the app.
  4. Select Request underneath Transfers at the top of the screen
  5. Select the person you want to request funds from.  You can choose a pre-existing contact or add a new recipient. You will need to check a box confirming that you have notified the person who will be receiving the request, and have their permission.
  6. Enter in the specified amount you are requesting and select the account you would like the funds to be deposited into. You have the option to add a personalized message, an invoice number or a due date. This is useful for small business members.
  7. Once the recipient has fulfilled your request, funds will be deposited into your bank account and you will be notified. At this time the service fee will be applied to your account.

| Click here for a graphic overview |

FAQ

Are there limits for requesting money using Interac e-Transfer?

Like most other financial transactions, there are limits on the amount that can be requested. Each CU has request limits applied through the limit group. The amount indicated in a request cannot exceed this transaction limit (currently set to $3,000). When the request is accepted, the regular outgoing e-Transfer limits for that fulfiller will be checked against the banking host and Interac. When the fulfilled request is being deposited into the requestor’s account, the regular incoming e-Transfer limits will be checked against the banking host and Interac.

The member received an Interac e-Transfer request for money but their Financial Institution isn't listed as supporting Financial Institution. What can they do?

If the member's Financial Institution isn't supporting the Request Money feature, they can decline the request with a message to the requestor. Alternatively, the member can also send a regular Interac e-Transfer transaction to the requestor, in lieu of fulfilling the request for money.

Who pays the Request Money Fee?

Whoever initiates the request will pay the fee.  So, if the member requests for the transfer then they will pay the fee.

The member sent a request but the fee wasn’t deducted yet.  Why is that?

The request money fee will be deducted only when the request is fulfilled and the funds deposited into the requestor’s account.

How long will it take to receive a request notification once the member’s contact sends the member a Request using Interac e-Transfer?

Request Money notifications are sent in near real-time.

How will the member be notified if a request for money is sent to them?

Similar to receiving money via Interac e-Transfer, when someone requests money from the member through Interac e-Transfer, they will receive a notification to the email address or mobile number the sender had set up for them.

Are there reminder notifications for outstanding money requests?

Yes, outstanding requests have automated reminder notifications that are sent to the recipient. The frequency of the reminder notifications is determined by global configurations. The member could also manually re-notify the recipient, as a reminder. To do this, the member must login to their Financial Institution's online banking account and select the Interac e-Transfer transaction from the Pending Transfers list to "resend notification".

How long are outstanding requests valid for?

Money Requests are valid for 30 days from the date they are requested. However, the expiry date can be extended by another 30 days if the member re-notifies the recipient of the outstanding request before it expires.

Will the member be notified once the request has been fulfilled?

Yes, once the request for money has been fulfilled and the funds deposited, the member will receive a notification that the funds are available in their account.

Once the request has been fulfilled, how long will it take for the member to receive the money?

Money being sent in response to a request for money will take the same time as a regular sent Interac e-Transfer transaction. Most transfers will be sent in near real-time to within 30 minutes. Once the Interac e-Transfer notification arrives, the member will have instant access to the money.

 

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