E-Transfers are an effective and safe way for members and businesses to transfer funds, pay bills or request payments.
What is Autodeposit?
With Autodeposit, money you receive via Interac e-Transfer® can be automatically deposited into your account without the need to respond to a security question.
This is how Autodeposit works:
Once you enable Autodeposit and define which account will receive your transfers, they will be automatically deposited in your chosen account without any additional steps. Not only does that mean fewer steps to complete your transfer, it also means less time worrying about email fraud.
How does email fraud happen?
Fraudsters try to exploit weaknesses in email security to attempt phishing scams and other cyber attacks that involve accessing your email account. If you use Autodeposit to bypass the email step of a transfer, fraudsters who gain access to your email account can’t intercept the message.
Setting up Autodeposit
1. Log into your on-line banking through your desktop or mobile phone app
2. Under the "Transfers and Payments" menu select "Autodeposit Settings"
3. Select the "Add Autodeposit" button (in blue)
4. Complete the Autodeposit details, select continue and follow the instructions