On December 3, 2018, Crosstown Civic Credit Union is releasing two new Interac® E-transfer features that members are sure to love. The Request Money and Autodeposit enhanced e-transfer features target both personal and small business members.
Request Money allows you to easily request money you are owed. Here’s how it works:
- Using your online or mobile banking, select a contact, then enter an amount and choose an account where funds are to be deposited.
- This step includes the option to add a personalized message (ex. businesses can enter an invoice number).
- An Interac e-Transfer notification will then be sent to the person you are requesting money from.
- Once they receive the notification, they can fulfill the request by logging into their online banking, and the funds will be immediately deposited into your bank account. (NOTE: Whoever initiates the request will pay the fee.)
For Personal Account Members, it’s a softer way to say “Hey, remember that $20 you owe me?”
For Business Account Members, it can help streamline payments.
Autodeposit is convenient, fast, and makes Interac e-Transfer even easier for everyone. It is a secure way to receive money without having to answer security questions for every transaction. Here’s how it works:
- Simply link your email address to your CCCU bank account.
- Select “Autodeposit,” enter your email address, and select the bank account you want associated with Autodeposit.
- When an Interac e-Transfer is sent to you, the payment will automatically be deposited into your bank account associated with that email address – no need to select the Financial Institution, login to online banking and answer a security question!
- You will receive a notification that funds were deposited.
- Money being sent to a recipient registered for Autodeposit will take the same time as a regular Interac e-Transfer transaction – i.e. from instant to within 30 minutes.
- Service fees will be paid by the sender.
For CCCU business members, Autodeposit and Request Money are features that will enable you to turn your CCCU online banking into your business payments hub. With these features, you will be able to:
- Provide a convenient option for businesses to request payments
- Receive funds faster
- Track payments online
- Improve cash flow management
For more details, visit your local Crosstown Civic Credit Union branch.