EMT transfer

Rivalen

Rivalen

CGN frequent flyer
Rating - 100%
56   0   0
Location
St-Hubert, Qc
Hey there,

I've seen a lot of EMT only in the EE forum, I was wondering what is EMT (I would guess it's electronic money transfer?), what's a good EMT provider to use and are there any fees related to that?

Is there something I need to know as to when to initiate the EMT (Before of after the transfer with cfc), etc.. any tips will be appreciated :)

Thanks,
 
If you are with one of the major Canaidian banks, you already have EMT. It is usually in the bill payment section / transfer part of your online banking. For Royal it costs $1.50
 
I am an old bugger too (50+) but I switched to emt's. I deal with guys who don't use them but I prefer emt's. It means my purchase is in the mail quicker and I don't have to go to the post office with a bunch of info for a mo. I think mo. are about $5.00. Checks still work but they still have to clear the bank and apparently the banks can come back up to a month later with a NSF check. Kinda scary when you took a check on a big purchase...
 
EMT is a service provided by INTERAC the same people that handles the ATM transaction that you have with a machine that belong to a bank that is not your own. The fees and rules should be posted on your internet banking website, below is copy off the CIBC website.

#
Fees

CIBC charges the following fees to CIBC Senders and CIBC Recipients:

* To CIBC Sender to initiate a Transfer (usual withdrawal fees if any associated with CIBC Sender's account are additional) ...$1.50
* To CIBC Sender to stop payment on a Transfer...$3.50
* To CIBC Recipient to receive a Transfer using CIBC Online Banking (usual deposit fees if any associated with CIBC Recipient's account are additional)... NO FEE

Other Participating Financial Institutions and CertaPay may charge fees to their customers as Senders or Recipients.
#
Limits for sending or receiving Transfers

CIBC will not send any Transfer that is less than $10.00.

CIBC may set limits for the amount of money you are allowed to send and receive using the Service, and CIBC may block attempts to send or receive Transfers that exceed such limits. CIBC may also change such limits at any time, and from time to time, without prior notice to you. Other Participating Financial Institutions and CertaPay may also set limits for sending and receiving Interac Email Money Transfers. CIBC shall not be responsible or liable for any losses or damages that you or any other Person may incur arising from such limits set by CIBC, CertaPay or any other Participating Financial Institution or changes to such limits.

Limits set by CIBC for sending:

* CIBC may block a Transfer by a CIBC Sender if it exceeds $1,000 or if the total of all Transfers initiated by that Sender exceed any of
o $1,000 in any 1-day period
o $3,000 in any 7-day period
o $7,000 in any 30-day period

and in the case of a Business, these limits apply to the sum total of all Transfers initiated on behalf of the Business in the applicable period.

Limits set by CIBC for receiving:

* CIBC may block a Transfer sent to a CIBC Recipient if the total of all Transfers received by that CIBC Recipient exceed any of
o $10,000 in any 1-day period
o $70,000 in any 7-day period
o $300,000 in any 30-day period

and in the case of a Business, these limits apply to the sum total of all Transfers received on behalf of the Business in the applicable period.
Click to expand...
 
tacticalII said:
Once it's accepted in what I mean. If some one scams you once they accept (why wouldn't they) you're screwed.
Click to expand...
Which is the same for any other personal transaction except one done through (FRAUD ALERT). Even then, the conditions for getting (FRAUD ALERT) to refund you are stringent, (FRAUD ALERT) charges a hefty percentage for every transaction, and (FRAUD ALERT) is strongly anti-gun. Most of the stuff you would buy and sell on this board is prohibited through (FRAUD ALERT).

EMT all the way.
 
You must log in or register to reply here.
Back
Top Bottom