Cryptocurrency Q&A
Why do I get charged for e-transfers?
Why do I get charged for e-transfers?
SsamziegangStroll
Thu Sep 05 2024
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6 answers
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I'm curious, why exactly do I have to pay a fee for electronic transfers? It seems like a straightforward and efficient way to move money around, so why is there a cost associated with it? Is it just a standard banking practice, or are there specific factors that contribute to the fee? It would be great if you could shed some light on this topic and help me understand why e-transfers come with a charge.
6 answers
Silvia
Sat Sep 07 2024
For Request Money transfers, if a fee is applicable, it is charged to the recipient's account upon acceptance of the request and deposit of the funds.
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Sara
Sat Sep 07 2024
Interac e-Transfer® offers two types of transfer services: Send Money and Request Money. Each service has its own fee structure.
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KDramaLegendaryStar
Sat Sep 07 2024
For Send Money transfers, if a fee is applicable, it is charged to the sender's account at the time of the transfer.
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Tommaso
Sat Sep 07 2024
This means that the sender must have sufficient funds in their account to cover both the transfer amount and any applicable fee.
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CloudlitWonder
Fri Sep 06 2024
It's important to note that the fee for Request Money transfers is only charged if the recipient accepts the request.
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