For all of Canada's chartered banking bureaucracy and lack of customer empathy ... I have to say that our e-transfer system is pretty amazing. For business or personal, one-off or regular transfers. It just works.
I do find it funny that to deposit an e-transfer in Canada you get an email, are required to click a link in that email and then login to your internet banking with your username and password.
Straight out of the "NEVER EVER do that" playbook.
Well "required" is not exactly right. You can accept funds manually that way if you prefer. But if you set your account up once to auto receive and deposit then any funds anyone transfers to your email address will just appear in your account. This is done once in your online banking setup and after that there is no clicking of links or logging in or passwords necessary.
Is there a reason to not configure it this way? I've always set things up this way, with the three banks I deal with, and can't think of any obvious ways I could get burned or fooled.
I always have an awkward delay with interac transfers when doing in-person. like "so, what do you think of those jays" bla bla for several minutes. Works great when the transaction is not 100% live though.
