Interac e-Transfer Cancellation

Within the period of submitting an Interac e-Transfer payment and the funds being deposited, it is possible to cancel the transaction in some cases.

Interac e-Transfer^® is one of VoPay’s most popular payment methods thanks to its speed and simplicity. The network is very secure and was built with security in mind, however there are no reversals permitted on the network, except in very rare cases involving fraud. This means that businesses and individuals using the service to send funds should be absolutely sure their transaction is correct.

Within the period of submitting an Interac e-Transfer payment and the funds being deposited, it is possible to cancel the transaction in some cases. An Interac e-Transfer payment must be cancelled before the funds are deposited, as once they settle in the recipient’s account it is too late.

When Can You Cancel an Interac e-Transfer?

• Before the Recipient Accepts - If the recipient has not yet claimed the transfer or answered the security question, you can cancel the transaction.
• Scheduled Transfers - For transfers set to be sent on a future date, cancellation is typically allowed before the scheduled processing time.
• Pending Transfers - If the transaction remains pending due to processing delays or technical issues, you might be able to cancel it.

How to Cancel an Interac e-Transfer With VoPay

The VoPay platform has two ways you can cancel an Interac e-Transfer after you have submitted it:

• VoPay API - Use our dedicated Interac endpoints for single or bulk payment cancellations if the recipient hasn't accepted it yet.
• VoPay Online Portal - Transactions can be cancelled through the online Portal.

If the recipient is registered for Autodeposit, the funds are automatically deposited upon sending, and cancellation isn't possible. Some financial institutions may charge a cancellation fee. For instance, National Bank charges a $3.50 fee for canceling an Interac e-Transfer.

To learn more about Interac payment methods through VoPay, please reach out to our expert Fintech Advisory team.