EQ Bank upgraded its Interac transfer service | EQ Bank | Discussion forum

Just noticed there is also *new* change to their "Account Agreement" . Having read about so many hi-jacked (or intercepted) text(s) or email(s) in the news, I am a bit nervous over the provision to fulfil incoming Interac e-Transfer® Request Money. Is a mandatory sign-on to EQ required to accept or decline. Without the freedom to opt-out, it is an extra layer of risk I needed to mitigate.

Interac e-Transfer® Fulfil Request Money (EFFECTIVE SEPTEMBER 22, 2021)

Fulfil Request Money is an Interac e-Transfer® feature that allows you to accept or decline a request for money.

When you receive a Request Money, you will receive an email, text message or other message at the email address or mobile telephone number the sender provided.

When you accept the Request Money we will immediately withdraw the amount specified in the Request Money from your Account and that amount will be automatically deposited into the Requestor’s designated account without the need for a security question and answer. You agree that you are responsible for verifying that the Requestor is your intended recipient before accepting the Request Money, and that we will not be liable for any losses resulting from your failure to do so. If you do not accept or decline the Request Money, it will expire within the number of days specified in the Request Money.

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We may decline to fulfil a Request Money you have accepted without liability at any time before the amount has been deposited if we have reason to believe you, the sender or the Requestor is engaging in fraudulent, unlawful or improper activity, or that an error or mistake has occurred or in the event of a breach of this Account Agreement.

I also wonder would a *pure* savings accounts (elsewhere beyond EQ) or TFSA accounts be immune from these kind of money request ?

Interac e-Transfer Request Money does not work automatically like pre-authorized debits.

One would need to log into EQ Bank and accept or decline each request received.

One approach is to log in and decline each and every request! I'm sure the senders will get the hint. Having my e-mail address doesn't mean they can ask me for money.

EQ allows you to accept or decline a request for money, but
can you actually request money via Interac e-Transfer with EQ Bank?
I can't find that option, maybe I don't know where to look.

TD says INTERAC e-Transfer requests, both Send Money and Request Money, expire in 30 days:

Does the INTERAC e-Transfer Send Money or Request Money notification expire?

The notification email or text message that INTERAC sends will expire 30 days after you initiate the transaction.

For money that you've sent:

• The funds are automatically returned to your account after the expiry date. If the account you originally sent the money from is now closed, then INTERAC will email you with instructions on how to reclaim the funds.

For money that you've requested:

• The link in the email or text message that INTERAC sent to your recipient will simply expire after 30 days. No further action is required.

On the new system if you send to someone who has auto-deposit then it will be automatically deposited, without them having to enter a password.

Anyone having problems doing etransfers from the new app via phone ( Samsung s8).. The app keeps crashing!!!!