You may receive money from CIBC or another bank fast using an Interac e-Transfer. If you wish to receive an e-Transfer from your CIBC account, you must first take some measures. We’ll teach you what to do and provide you a strategy to make the process easier. Continue reading to learn how to request money from a contact!
How Do You Get an E-Transfer in Your CIBC Account?
It is actually rather simple, but first you must register for the service.
- Use CIBC Online or Mobile Banking to access your account.
- Navigate to the Interac e-Transfer page.
- Once there, you must provide your name, active email address, mobile phone number, and notification options.
- Enter this information and then press the Next button.
- To confirm your registration, please review and accept the terms and conditions.
- You may now access all of the services provided by CIBC Interac e-Transfer.
When you receive a CIBC e-Transfer, you will often receive notification through email or text message. It will include the sender’s information, the amount of money being transferred, and a link to deposit the funds into your bank account. If necessary, the sender might provide a brief note with the transfer.
After clicking the link, you will be asked if you want to establish an account with CIBC Online or Mobile Banking. Sign in to your account after depositing your Interac e-Transfer.
Following that, you must answer a security question. But don’t be alarmed; this is not from the CIBC! Instead, the sender asks the question; it must be simple to answer so that you can receive the money.
Finally, choose the account to which you want the monies sent. That’s all there is to it!
How to Make a Money Request Using CIBC Interac e-Transfer
Requesting an e-Transfer in your CIBC account is another option. This option is available in the same section as previously described. Look for the contact you want to request from (or create a new one), enter in the amount, choose where you want it deposited, and optionally include a note.
After confirmation, choose Send Request, and then wait for the sender to determine whether to fulfill or deny the request. Be aware that each request will incur a $1.50 cost.
There are limitations to how much you may request. You can select up to $10,000 at CIBC, but other financial institutions have varying restrictions. Furthermore, you can only have 200 e-Transfer requests open at once.
Is there a charge to receive a CIBC e-transfer?
We have some wonderful news. When you receive an e-Transfer to CIBC, there is no cost.
Sign up for a CIBC e-transfer autodeposit account.
If you don’t want to go through this step again, turn on Autodeposit. You may use this to receive funds from a CIBC e-Transfer without creating an account.
Select Autodeposit Settings and select the account where you wish to deposit the money when you get to the Interac e-Transfer area. Complete the registration after seeing and agreeing to the terms and conditions.
When someone attempts to transfer funds, it will automatically go to the account you specified, and you will not have to answer the security question every time. However, the sender will not gain from this move because they will no longer be able to cancel the transfer if necessary.