What is EFT?

EFT stands for Electronic Funds Transfer. It’s a safe and easy way to send money straight from your bank account to a business or online platform, no debit or credit card required! You’ll just need your bank account details (institution, transit, and account numbers), and the money moves securely through the Canadian banking system.

Is EFT a secure option?

Yes! EFT is a reliable and trusted way to withdraw money. Your information is kept safe and handled by your bank.

How long will my EFT transfer take?

EFT transfers usually take between 1 and 3 business days to process. The exact timeline depends on your bank, but rest assured, your funds are on the way!

What details do I need to use EFT?

You’ll need your:

• Bank account number
• Transit number
• Institution number

If you’re not sure where to find these, your bank can help!

How is EFT different from Interac e-Transfer?

• EFT sends funds directly between accounts and usually takes 1-3 business days.
• Interac e-Transfer is often instant and uses your email or mobile number.

Both are secure ways to move money—EFT is just as reliable, with the added flexibility of not needing an email or phone.

Do I need a card to use EFT?

Nope! EFT is all about your bank account, so you don’t need a debit or credit card.

We hope this answers your questions. 

Need help? We are here 24/7 to assist.