Quickly transfer money to and from a Neo Chequing or Neo Everyday account with Interac e-Transfer®. You can request money from yourself to transfer funds from an external bank account to Neo, or you can send or receive money with friends and family.
Note: Most Interac e-Transfers® take under 30 minutes—and many transfers are nearly instant! Here’s what to do if a transfer is taking longer than 30 minutes.
Send money with Interac e-Transfer®
You need a Neo Chequing or Neo Everyday account to send money with Interac e-Transfer®. Just go to Payments to send funds. The recipient will receive a notification of the transfer to their phone or email.
Neo app
Log in to the Neo app
Go to the Payments tab
Tap Send and enter the amount
Select a contact (you can add a new contact)
Set a security question (if the receiver doesn’t have Autodeposit)
Web
Log in to member.neofinancial.com
Click on Payments in the side menu
Click Send and enter the amount
Select a contact (you can add a new contact)
Set a security question (if the receiver doesn’t have Autodeposit)
The Interac e-Transfer® will be pending until the recipient deposits the money. If the recipient has set up Autodeposit, then the money may be instantly deposited. Only pending Interac e-Transfers® can be cancelled.
Note: To help protect your account from unauthorized payments, the maximum amount you can send by Interac e-Transfer® is $3,000 and you can send a max of 50 payments per month. Here are all the transfer limits.
Schedule an Interac e-Transfer®
If you want your payment to be send in the future, you can schedule an Interac e-Transfer®. To schedule an e-Transfer, set up a new payment and choose the date you want to send the payment.
Deposit an Interac e-Transfer®
You’ll receive an email or text message from Interac when someone sends you an Interac e-Transfer®.
Choose either Neo Financial or Neo Everyday by Peoples Bank of Canada as the financial institution, and then log in to your Neo account and answer the security question.
Note: When depositing an Interac e-Transfer with Neo, you may see two options: Neo Financial or Neo Everyday by Peoples Bank of Canada. You can choose either and your funds will be deposited into your account.
Tip: You can automatically deposit Interac e-Transfers® by setting up Autodeposit.
Request money from someone else
You can request funds from someone else by sending them an Interac e-Transfer® request. The recipient will receive a notification of the Interac e-Transfer® request. After they send you money, you’ll receive a notification of the transfer.
Send an Interac e-Transfer® request
To send an Interac e-Transfer® request, go to Payments and select Request. Then enter the amount and choose a contact. You don't need to create a security question/answer for Interac e-Transfer® requests.
You can cancel the Interac e-Transfer® request before the recipient sends you the funds.
Transfer money to yourself with Interac e-Transfer®
If you want to quickly transfer funds from another bank account to Neo, send yourself an Interac e-Transfer®.
Log in to your bank’s app or website, and then send an Interac e-Transfer® to your own email or phone number. When you receive the Interac e-Transfer® notification, choose either Neo Financial or Neo Everyday by Peoples Bank of Canada as the financial institution.
Fund your account with Interac e-Transfer®
To fund your Neo Chequing or Neo Everyday account with Interac e-Transfer®, send the money to your email or phone number. When you accept the transfer, the funds will be deposited into your account.
Fund a Neo High-Interest Savings account with Interac e-Transfer®
Interac e-Transfers® currently can’t be deposited into a Neo High-Interest Savings account.
To fund a Neo HISA with Interac e-Transfer®, deposit the funds in a Neo Chequing or Neo Everyday account and then move the funds to the Neo HISA.
Fund a Neo Savings account with Interac e-Transfer®
Interac e-Transfers® currently can’t be deposited into a Neo Savings account. To fund a Neo Savings account with Interac e-Transfer®, deposit the funds in a Neo Chequing or Neo Everyday account and then move the funds to the Neo Savings account.
FAQs about e-transfers
My Interac e-Transfer request didn't work. What happened?
My Interac e-Transfer request didn't work. What happened?
An Interac e-Transfer request fails when:
Recipient fails to correctly answer security question
Sender enters invalid email address or transfer is incomplete
Recipient declines transfer or expiry date passes
Why is my Interac e-Transfer request showing as pending?
Why is my Interac e-Transfer request showing as pending?
If a recipient doesn’t accept the Interac e-Transfer request, the request shows as pending to the sender.
Can I dispute an Interac e-Transfer request?
Can I dispute an Interac e-Transfer request?
No, you can’t dispute an Interac e-Transfer request. If you sent one by mistake, you might be able to cancel it if the request is still pending and the recipient hasn’t accepted it.
What are the limits for Interac e-Transfer payments?
What are the limits for Interac e-Transfer payments?
To help protect your account from unauthorized payments, there are a few limits to the amount and number of Interac e-Transfer payments, most notably:
Maximum amount per transfer: $3,000
Maximum number of Interac e-Transfer payments per month: 50
What's the difference between Interac e-Transfers and Electronic Fund Transfers (EFTs)?
What's the difference between Interac e-Transfers and Electronic Fund Transfers (EFTs)?
Electronic Fund Transfers (EFTs) are transfers to or from linked bank accounts. EFTs take longer, but you can transfer larger amounts compared to payments via Interac e-Transfer.
Interac e-Transfers are best if you need to send the money quickly and you are only transferring smaller amounts. The limits for Interac e-Transfer payments are $3,000 per transaction and $10,000 per day. Most Interac e-Transfer payments are completed in 30 minutes (and usually instantly).
Electronic Fund Transfers (EFTs) are best if you're transferring larger amounts. You can withdraw $30,000 per transfer or deposit up to $100,000 from an external bank. It usually takes 3 to 5 business days for EFTs to complete, so you may need to plan ahead to move large amounts of money.
Where can I find my Interac e-Transfer reference number?
Where can I find my Interac e-Transfer reference number?
You can find your reference number in the automated notification emails sent by Interac. These emails are generated in the following situations:
When sending money:
You send an e-Transfer to a recipient registered for Autodeposit.
You send a standard e-Transfer (with a security question and answer) and the recipient accepts or declines the funds.
When receiving money:
You receive an e-Transfer via Autodeposit.
You receive a standard e-Transfer (Security Question & Answer).
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