Effective immediately, Interac requires new security answers for the questions you ask recipients to answer when receiving an Interac e-Transfer.
Security answers that have been set up after September 20, 2018 are not in need of being updated. If you have not updated your recipients’ security answers since before September 20, 2018, you will need to set up new security answers before you can send money to the recipients.
Effective immediately, if you have not updated your security answers you will be notified when you send an e-Transfer, as per below:
“Due to Interac e-Transfer updates, you will need to update your security question and answer for this recipient. Please click here to update your recipient’s details. For assistance, please contact your branch.”
Click the link and you will be directed to the Edit Recipient screen for the recipient. You will not be able to send the e-Transfer until the security answer is updated. You may use the same question and answer.
Any security answers not updated by September 1, 2019 will be deleted by Interac and you will be required to enter a new security answer the next time you send an e-Transfer to that recipient.
You can update security answers via MemberDirect Online, Mobile Web, or the Mobile apps.