Enhanced User Features (EUF) for Interac e-Transfer® 


EUF stands for Enhanced User Features. As of August 1st 2018 we will be offering these new features for Interac e-Transfer® called Request Money and Autodeposit. As Canada’s predominant person-to-person payments service, Interac e-Transfer is a secure and convenient method for our members to send or receive funds. Now it just got better with the introduction of two enhanced features. Members who attended our 2018 AGM may remember some of the details from our sneak peak of upcoming products and services. For those of you who missed it please read on.

Request Money
Energy CU members can easily request money they are owed or to use as a friendly reminder when friends or family may have forgotten to pay them back. To request money, the member selects a contact, enters the amount, the deposit account, and sends the request. They can choose to add a personalized message, such as a note as to what the funds may be for to remind the recipient. The contact receives an Interac e-Transfer notification requesting the funds. They fulfill the request by logging into their online banking, and the funds are immediately deposited into our member’s Energy CU account.

Autodeposit
Interac e-Transfer is convenient. But for people waiting to be paid, it’s never fast or easy enough. Autodeposit makes it even simpler to securely receive money transfers. By linking their email address to their account at the Energy CU, members can deposit transfers without needing to answer security questions, select the financial institution or log into online banking. When the member receives an Interac e-Transfer it is automatically deposited into their Energy CU account associated with the email address and the customer receives a deposit notification.

We wanted to provide this enhancement to members as promised at our AGM 2018 as quickly as possible, so we have forged ahead despite 2 known glitches:
 
  1. Requestors/Initiators will normally be charged the standard service fee of $1.50 – there is an error in the coding which is resulting in no service fee being charged – this will eventually be resolved; however, for now…enjoy the free service.
  2. Joint Account Holders that have linked existing Energy CU Joint Accounts into Internet Banking will not see each account segregated by Membership Number when Fulfilling a Request.  In the dropdown when choosing an account type, you may see 2 chequing accounts or 2 savings accounts, one belonging to each Membership Number.  If you make a mistake and choose the wrong Membership Account type, not to worry – you can perform a transfer and move funds back to the correct account.

Enhanced User Features (EUF) for Interac e-Transfer® FAQ