How to Do an E-mail Money Transfer

Techwalla may earn compensation through affiliate links in this story.

E-mail money transfers are an easy way to send or receive money using an online financial institute and your e-mail account. Canada has five big banks whose institutions offer EMTsthrough a process named INTERAC. To transfer money without fees or extra costs you will need a Canadian bank account and an active e-mail account. It is still possible to transfer money in the U.S. by holding an account with an online institute such as PayPal. Though they usually charge either the sender or receiver a transfer fee.


Step 1

Log in to your financial institute and find the Transfer money tab or button. It should be located to the left of the page.

Step 2

Fill out the money transfer form. The form will ask for the receiver's e-mail address, the amount to be transferred, and a security question.

Step 3

An e-mail notification gets sent to the receiver's in-box. They must accept the money before the transfer can be completed.

Using PayPal

Step 1

Create an account with Paypal. They require you to fill out an online form asking your name, address, e-mail address, and password.

Step 2

Click on the Send tab to transfer money using an e-mail address. It is located toward the top of the page on a blue tab.

Step 3

Enter the receiver's e-mail address and the amount to be transferred. The site will also ask you if you are sending money for goods, services, or eBay items. Click on the appropriate box.

Step 4

Submit and confirm the transfer. The recipient should receive the e-mail notification shortly. They must accept the money through the e-mail and hold a PayPal account of their own for the money to transfer.


Always be watchful of false e-mails promising e-mail money transfers.

Have the sender contact you beforehand so you know to expect the transfer and you know it's not a spoof e-mail.