Interac E-Transfer?

[woodywoodford]

I'm about to sell my car and trying to decide what types of payment to go with. Is there any way to scam, reverse, cancel an e-transfer after I've accepted, or limits on the transfer size? Seems like it'd be the easiest way to do the deal since it can all be done from phones these days.

Crisp 100s are pretty safe but can still be forged, and drafts/money orders are way too easy to forge (someone attempted that on me a few years back). How do you guys take payment?

[flipstah]

Go to the bank and do direct transfer to seller's account.

[Thaco]

email is probably the safest convenient way, assuming they didn't steal someone elses login info...

Certified cheque verified at the issuing bank is the way to go.

[rage2]

There's a daily limit to e-transfers in the $1000-2000 range depending on the bank. I've only done certified check, in person.

[Tik-Tok]

Originally posted by rage2
There's a daily limit to e-transfers in the $1000-2000 range depending on the bank. I've only done certified check, in person.

my last 3 private transactions were done in their bank, or mine.

[lilmira]

I prefer to complete the transaction in person at the bank. If the buyer brings cash, I let the teller count the money and deposit into my account. If the buyer pays by bank order, I see it being made right then and there.

E-transfer? May be if the transaction is 50 bucks or if it's a friend.

[quick_scar]

When I bought my bike it was a bit of a last minute, spur of the moment thing and I had to e-transfer the guy 2K to make up what I couldnt get from the bank at the time (saw bike saturday, bought sunday). He was cool with it and it worked out in the end. 2K was the limit though.

I logged into my bank and did the e-transfer basically in front of him so he knew it was legit. He accepted it before I left the driveway.

[Thaco]

Originally posted by quick_scar
When I bought my bike it was a bit of a last minute, spur of the moment thing and I had to e-transfer the guy 2K to make up what I couldnt get from the bank at the time (saw bike saturday, bought sunday). He was cool with it and it worked out in the end. 2K was the limit though.

I logged into my bank and did the e-transfer basically in front of him so he knew it was legit. He accepted it before I left the driveway.

only issue with that is the e-transfer system is slow, typically takes half hour or more for the email to come through on the recipients end.

[pheoxs]

Contrary to what it says on interacs site etransfers can indeed be reversed

[lasimmon]

Originally posted by Thaco
only issue with that is the e-transfer system is slow, typically takes half hour or more for the email to come through on the recipients end.

Never in my experience, always 5 mins or less.

Originally posted by pheoxs
Contrary to what it says on interacs site etransfers can indeed be reversed

Only before it is accepted. So just accept it before the guy leaves.

[DeleriousZ]

I've had the e-transfers take up to a half hour to show up before as well.

[Tik-Tok]

Originally posted by Thaco
only issue with that is the e-transfer system is slow, typically takes half hour or more for the email to come through on the recipients end.

Originally posted by DeleriousZ
I've had the e-transfers take up to a half hour to show up before as well.

Used to take 3-4 hours, and people are still whining about 30 minutes?

[CompletelyNumb]

I send and receive a good number of etransfers every year. Some take 4 hours. Some take 4 minutes. Its not reliable as a timely transfer of money.

[jacky4566]

Price of E-Transfers went up too. Used to be $1 now its $1.50 So bogus. This is for TD at least.

OP use bitcoins. Magical internet money!

[GQBalla]

Tangerine is still $1. TD is $1.5

I do find sometimes it does take up to an hour though, sometimes super fast as in a couple of minutes.

[woodywoodford]

I etransfer funds to my savings account (out of town credit union) every month and its usually sent the email within 15 minutes. RBC for me, I wonder if the bank has something to do with the timing?

[msommers]

Yes transfer can be all over the place in terms of how long they take. What I did when I was meeting a fellow in Edmonton for some speakers, I sent the payment before we even met but only I knew the password. This way when I arrived and agreed to everything, the transfer was waiting and things were "instant."

Regarding this transfer, I would definitely just go to the bank.

[Thaco]

Originally posted by Tik-Tok



Used to take 3-4 hours, and people are still whining about 30 minutes?

not saying it's a bad thing, just stating that it might not be the best option if you're standing on the guy's driveway waiting for it... read the whole context of the post.

[Thaco]

Originally posted by GQBalla
Tangerine is still $1. TD is $1.5

I do find sometimes it does take up to an hour though, sometimes super fast as in a couple of minutes.

tangerines ar more like a cheque though and are not as "garuanteed" as the normal etransfers, they say it can take up to 3 days to clear.

[quick_scar]

Mine are always pretty quick. That time it was there by the time he finished counting the rest of the money and me loading the extras it came with. As soon as it was done, I loaded the bike and left.