If you’re not already using Interac eTransfer to pay folks you know, it’s time to get on the bandwagon!
Vancity has just lowered their eTransfer rate to $0.90 (down from $1.50), and they’ve put together a great comprehensive guide to using their service.
In a nutshell, the INTERAC e-Transfer service enables you to send money online, securely and quickly to anyone with a Canadian deposit account and an email address or mobile phone. You don’t need to know your recipient’s financial institution or account number – and they don’t need to know yours – and no account information is on the Internet at any time. (On your end, all you need is a Vancity Canadian-dollar personal or business chequing or savings account, which requires only one signature for account transactions.)
Check out their post here.