CertaPay is a division of Acxsys Corporation, a company owned by eight of Canada's largest financial institutions including CIBC. CertaPay powers the INTERAC e-Transfer service for the participating financial institutions. CertaPay facilitates the e-mail notice process and maintains the INTERAC e-Transfer database.
If the recipient is not required to use online banking to deposit a transfer at a participating financial institution, or the recipient does not wish to deposit the transfer at a participating financial institution, he/she can deposit the transfer using the CertaPay process available through the CertaPay website (also known as a CertaPay transfer).
This process usually takes 3-5 business days and CertaPay may charge a fee, which may be deducted from the transfer amount. A CertaPay transfer can be deposited electronically into a bank account at most Canadian financial institutions.
To use the CertaPay transfer option, the recipient can follow the link in the e-mail notice for INTERAC e-Transfer to the CertaPay website, and select the Other Options button at the site.
A recipient who is not currently registered for Online Banking can receive an INTERAC e-Transfer through one of two methods:
If the recipient is a customer of another financial institution, he/she may or may not be required by that institution to use online banking to receive transfers.
Recipients not required to use online banking by their financial institution can deposit transfers using the CertaPay website. This is called a CertaPay transfer and may take 3-5 business days. CertaPay may charge a fee, which may be deducted from the transfer amount. Recipients at non-participating financial institutions must use the CertaPay process to deposit a transfer.
As part of the CertaPay process, the recipient must provide information describing a valid bank account. If the recipient fails to provide this information, it's considered a failed transfer, and a failed transfer fee may apply.
(The failed transfer fee may be automatically deducted from the amount of the INTERAC e-Transfer, whether the transfer amount is ultimately paid to the recipient or returned to the sender.)
The recipient will be notified by e-mail to make another deposit attempt. If the transfer cannot be processed a second time, a paper cheque will be mailed for the transfer amount, minus all CertaPay charges.
When using the CertaPay transfer option there is a one-time registration process. To meet registration requirements, the recipient must:
If the recipient fails to meet any of the above criteria, the recipient won't be able to collect the transfer using the CertaPay process. The INTERAC e-Transfer must be reclaimed by the sender after it has expired. The sender can request a stop payment if he/she does not wish to wait for the transfer to expire.
An e-mail notice of the INTERAC e-Transfer is sent immediately after the sender selects the Send Money button. The recipient can begin the deposit process as soon as he/she responds to the e-mail notice. A recipient who successfully claims a transfer (including answering the security question) using the Online Banking service of CIBC or another participating financial institution should generally receive the funds within minutes.
Note: A recipient who successfully claims a transfer using the CertaPay Transfer process should generally receive funds within 3-5 business days. However, the actual time to receive funds through either process will vary and may take significantly longer, depending on the circumstances.
On the INTERAC e-Transfer Details page, select the link next to the transfer in the "Status" column. This will open a new page with more details on that transfer.
They inform you when:
They also inform you when:
If you receive any of the following messages, then the transfer cannot be completed:
This information will appear under the Status column for the transfer in question, and you will be sent an e-mail reminder to reclaim and deposit the transfer amount back into your bank account.
You will receive an e-mail notice when CIBC has been notified that the recipient has claimed the transfer and deposited it into an account at CIBC or other participating institution.
Please Note: If a recipient claims a transfer (including answering the security question) from a CIBC sender using the CertaPay process but provides information that is insufficient or incorrect when asking CertaPay or its agent to pay the funds into the recipient's bank account, CertaPay or its agent may do any of the following:
In these cases, you will receive an e-mail notice when CIBC has been notified that the recipient has claimed the transfer.
If you provide an invalid e-mail address, (e.g., an address to which e-mail cannot be delivered), you will be notified by e-mail that the transfer was undeliverable. You can either readdress and resend the transfer or reclaim the transfer amount back into your bank account.
Readdressing an e-mail will reset the expiry date for the INTERAC e-Transfer to 30 days.
If you have been notified of an undeliverable INTERAC e-Transfer due to an incorrect e-mail address, you can readdress and resend the transfer. Just:
An e-mail notice will be resent to the recipient's new e-mail address
Note: This action will reset the expiry date for the INTERAC e-Transfer to 30 days from the time the transfer was readdressed.
To reclaim and redeposit the transfer amount back into your account, you must check the status of the transfer and then select the reclaim option.
If any of the following appear under the Status column for the transfer in question, then the transfer cannot be completed and you can reclaim and deposit the transfer amount back into your bank account:
Note: If you wish to cancel a transfer that can still be deposited, you must request a stop payment. A fee applies when/if a request for stop payment is successful. To request a stop payment:
The transfer amount is automatically deposited back into the account indicated.
No. The sender is not charged any additional fees for reclaiming a transfer.
The recipient will get an automatic reminder 7 days after the INTERAC e-Transfer has been sent. They will be reminded again at 14, 21 and 28 days to claim their INTERAC e-Transfer. The reminder will contain a link to the CertaPay website where the recipient can begin the deposit process.
The recipient has 30 days from the time a transfer is initiated by a sender to claim the transfer (including answering the security question), after which it will expire. An e-mail notice will be sent to you if a transfer you sent, as a CIBC sender, expires. When you receive the notice you may reclaim the transfer amount.
If you no longer wish to use the INTERAC e-Transfer service, you do not need to cancel it or take any action to de-activate it. You can simply stop using it.
A security question is a security feature to verify the recipient's identity. This question will appear on the recipient's INTERAC e-Transfer, and they must answer it correctly to deposit the transfer. It is the sender's responsibility to define a security question and response that only the recipient can answer correctly in order to deposit the transfer. The sender can create the security question or select one from an existing list.
Once a security question and answer are defined, the sender must contact the recipient and inform them of the exact answer. For security reasons, a method other than e-mail should be used (e.g., telephone the recipient).
Guidelines for the security answer:
No. You have the choice of using the same security question and answer or a different one each time. However, as a CIBC sender, each new security question and answer you provide for a transfer to a recipient replaces the security question and answer for all earlier transfers pending from you (as a CIBC sender) to that recipient.
When a recipient has more than one INTERAC e-Transfer from the same sender waiting to be accepted, the security question and answer for the most recent transfer replaces the security question and answer for all earlier transfers pending from that sender.
For security reasons you should use a method other than e-mail to contact the recipient. The security question and/or answer must not be included in the optional message attached to the INTERAC e-Transfer.
The Sender will be notified by e-mail when an INTERAC e-Transfer cannot be completed because:
The transfer amount held by CIBC will not be automatically deposited back into the Sender's bank account. The Sender may reclaim the transfer amount by selecting on the specific transfer on the Status page of the service and following the instructions.
An INTERAC e-Transfer cannot be deposited if the security question is not answered with the correct one-word answer.