Frequently Asked Questions

What is an Interac® e-Transfer and how do I complete an Interac® e-Transfer with Loonio?

Interac® e-Transfer is a safe, hassle-free method for sending money immediately* within Canada through online banking.
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To complete an e-Transfer with Loonio, you’ll need to log in to your online banking app and go to the Interac® tab. From there, as a first-time customer, you will add Loonio as a recipient and then copy the information provided on the payment form to complete your payment.

*Payment delays can occur, rarely lasting longer than 30 minutes

What is an Interac® e-Transfer Request Money and how do I complete an Interac® e-Transfer Request Money with Loonio?

Use the Request Money feature within the Interac® e-Transfer system to send funds instantly.
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To complete an e-Transfer Request Money, log in to your banking app and accept the Loonio request.

I keep receiving emails that say I need to complete my transaction, but I have not received an email from Interac®?

First, check your Spam or Junk folders. If you didn’t receive an email, your transaction will expire in 24 hours. Note, that no money will be debited from your account.

My transaction expired but money came out of my financial institution?

Some financial institutions will place a temporary hold on funds when you originate an e-Transfer transaction. The hold will be lifted as soon as your bank sees the transaction failed. If your bank confirms that funds were sent out, please contact the Loonio Support team to investigate further.

My transaction is still pending, and I have done everything to complete it on my end. What should I do?

On rare occasions, your financial institution or Interac may place a hold on the transfer to confirm it’s not fraudulent. This is done to protect you. Please contact your financial institution to inquire further.

Can I cancel a transaction once it has been completed?

If it has not been completed yet, the transaction will automatically expire in 24 hours, and no funds will be removed. If the transaction is completed, unfortunately, we cannot reverse it.

Can you resend a transfer request once it expires?

Once it has expired, we cannot redo the transaction, you can, however, initiate a new transaction.

Loonio is sending me money, but I cannot locate my security answer. What should I do?

Please contact Loonio Customer Support to assist.

Frequently Asked Questions

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