Instant banking

Instant banking here is several rails, not one button. Interac is the default. iDebit and InstaDebit are paid overlays. eCheck is the slow cheque pull. Use Interac first if it is free.

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Which rail to use

MethodDepositFeePayout
InteracMinutesUsually $0Yes
iDebitMinutesAbout 1.5–4%Often
InstaDebitMinutesAbout 1.5%Often
eCheck1–5 daysNSF riskSlow

Before you pay

  • Interac first if it is free. e-Transfer with Autodeposit is the default Canadian deposit. Overlays cost extra.
  • iDebit and InstaDebit are two overlays. Same job, different companies, different fees and bank lists.
  • eCheck is the slow one. Do not pick it unless the cashier has no Interac product.

FAQ

Which should I use first?

Interac if it is free. Overlays if you hit the send cap. eCheck last.

Does it always pay out?

Interac usually. Overlays sometimes. Confirm the withdrawal tab, not the deposit icon.

Is this Flexepin or Zimpler?

No. Those have their own pages.

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