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Yes. None of those are a thing here in Canada in my experience. We have Interac E-Transfers which is allow you to send money to anyone just by knowing their ema
by cecilpl2 4y ago
Yes. None of those are a thing here in Canada in my experience. We have Interac E-Transfers which is allow you to send money to anyone just by knowing their email address or phone number.
Either the person gets an email/text with instruction to deposit the money, or they can register their email in a central database which allows for automatic deposit and nearly instant transfer.
- koblas 4y agoPayments Canada is working on their real-time system, in theory this will be deployed this year. https://www.payments.ca/real-time-rail-payment-system https://www.payments.ca/real-time-rail-payment-system
- digianarchist 4y agoNearly instant depending on your bank. Waiting 45 minutes to an hour is not unheard of. They do a really poor job of assessing risk e.g. sending money to myself routinely still results in slow transfers. There's also ridiculously low limits on daily/weekly/monthly transfers making it useless for say moving a house deposit between banks.