An email money transfer (EMT) lets you send money between Canadian bank accounts using online banking and an email address. It’s a fast and secure way to transfer money through email without needing to share banking details.
VELLIS NEWS
15 May 2025
By Vellis Team
Vellis Team
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Most major Canadian banks use Interac e-Transfer to power EMTs, making it a widely used option across local payment methods. Since its launch in 2002, EMT has become a go-to method for individuals and small businesses needing to move money quickly.
Although EMTs are popular in Canada, they aren’t available for international transfers. For that, platforms like Vellis offer cross-border solutions.
Email money transfers (EMTs) make sending and receiving funds simple and quick. This process involves a few steps that ensure the money moves securely from one person to another.
The recipient will get a message letting them know funds are on the way. If Autodeposit isn’t set up, they’ll need to answer your security question to receive the money. Otherwise, the funds go straight into their bank account.
Your bank uses secure encryption and authentication measures to protect the transaction, while the recipient’s bank processes and deposits the money. This smooth, email-based payment processing solution helps transfer funds within minutes.
Email money transfers offer quick and secure ways to send funds, making them ideal for both personal and business use.
You can transfer money through email in minutes, perfect for situations that require instant payments, whether personal or business-related. For example, entrepreneurs exploring what is dropshipping often rely on EMTs to pay suppliers or freelancers quickly, helping them maintain smooth operations without delays.
With EMTs, all you need is the recipient’s email address. This eliminates the need to exchange sensitive bank details which assures users, especially those managing multiple transactions.
Banks protect email transfers with advanced encryption and two-factor authentication. These safeguards ensure your money and personal information remain secure during each transaction.
Email money transfers are widely accepted among individuals and small businesses. Whether you’re reimbursing a friend or paying for a service, EMT is a quick and trusted choice—ideal for dropshipping sellers handling frequent but smaller payments.
Most banks include EMT in standard banking plans with minimal or no added fees. That makes them especially appealing for cost-conscious users like small business owners and people starting a dropshipping business.
While email money transfers offer a convenient way to send funds, they come with their own set of risks if not handled properly.
Many banks and third-party platforms offer email money transfer services, integrating them into mobile banking apps and online portals for easy access.
Over 250 Canadian financial institutions – including RBC, BMO, CIBC, TD, and Scotiabank – offer EMTs through their mobile apps and websites.
Platforms like PayPal and Wise allow users to send money using an email address, similar to EMTs. While not exactly the same, they’re especially useful for international transfers.
Wise, for example, requires recipients to enter bank details to receive funds. If they don’t do this within a week, the transfer is canceled and refunded.
Email transfers are built into most banking apps. Just a few taps let you email transfer money without visiting a branch, making it easy for anyone to send or receive funds.
Here’s how Email Money Transfers (EMT) stack up against other popular transfer methods like wire transfers, PayPal, and Zelle.
Feature | EMT | Wire Transfer | PayPal | Zelle |
Primary Use Region | Canada | Global | Global | U.S. only |
Transfer Medium | Email Address | Bank Details | Email/Phone | Email/Phone |
Speed | Instant to 5 Business Days | 1-5 Business Days | Instant | Instant |
Security | Security Question | Bank Verification | Encrypted | Bank Integration |
Domestic/International | Domestic | Both | Both | Domestic |
Transaction Limit | Imposed by Banks | High or No Limit | Varies by Account | Typically High |
EMTs shine when it comes to domestic, low-cost, fast transactions—but may fall short for larger or international payments.
Sending money through email has become a quick and secure way to handle transactions. Here are the steps to email transfer money successfully:
This process is designed for both convenience and security, enabling users to transfer funds directly without needing to share sensitive bank account information.
First-time recipients and auto-deposit users follow different steps to accept an EMT to ensure secure and efficient money transfers..
If you don’t know the answer, contact the sender.
Autodeposit saves time, but make sure your email and bank login remain secure.
Both methods involve emails that notify senders and recipients about the transfer status, enhancing communication between parties involved in email transfers of money.
Always verify unexpected email transfers. If something seems off, contact the sender directly. Avoid accepting funds from unknown individuals and keep transaction records for your protection.
No, EMTs are typically domestic, faster, and less costly than traditional wire transfers.
Generally no, EMTs are mostly limited to the country’s banking network, such as Canada’s Interac system.
If not accepted or deposited, the transfer will typically expire and return the funds to the sender after a set time.
It’s secure when done through a verified banking platform, and protected by encryption and optional security questions.
Some banks offer it free with standard accounts; others may charge a small fee per transaction.
Investopedia. (n.d.). Email money transfer (EMT): What it is, how it works. https://www.investopedia.com/terms/e/email-money-transfer.asp
Sage. (2022, November 10). What is an Email Money Transfer (EMT) payment? https://www.sage.com/en-ca/blog/what-is-an-email-money-transfer-emt-payment/
Wise. (n.d.). Email money transfer. https://wise.com/us/blog/email-money-transfer
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