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How can I add Canadian Dollars to my account using ‘Interac e-Transfer request’?

  • Updated

You can easily make Canadian Dollar deposits to your Bitbuy account using Interac e-Transfer Request Money. This transfer method has no fees and allows you to deposit amounts ranging from $20 to $10,000 CAD. You can complete up to 3 successful transactions per day, and the deposit limit resets within a rolling 24-hour period.

A 72-hour withdrawal restriction will be placed on your Bitbuy account after your first e-Transfer deposit. This restriction applies to both CAD and cryptocurrency withdrawals.

Note: Bitbuy does not accept e-transfers sent via email using a security question and answer. To fund your account, please complete the e-Transfer request from within the Bitbuy mobile or web platform, or fund via bank wire transfer.

To add Canadian Dollars to your Bitbuy account using the Interac e-Transfer Request Money feature, follow the steps below: 

Step 1

  • If you are using the Bitbuy mobile app, go to the More tab available on the bottom menu, and click on the Deposit button.
  • On the Bitbuy website, select the Deposit tab that appears on the top menu of your screen.
  • If this is your first deposit, you will see a prompt on the top of your screen.
  • You can also click the Deposit button on the home page, as shown in the screenshot below.

BB - Deposit-1.png

Step 2

Select the Interac e-Transfer request option.

BB - Deposit-2.png

Step 3

To deposit CAD into your Bitbuy account, simply enter the desired amount and click Send

Please note that you can only complete deposit requests from a bank account registered under the name associated with your Bitbuy account.

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The final step

You will be directed to the Interac e-Transfer webpage, where you can choose your financial institution* and login to your online banking portal to complete the transfer.

*Certain financial institutions do not currently support e-Transfer Request Money Deposits. For further details on this funding method, including a comprehensive list of financial institutions that are supported, please refer to this article from Interac.

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After you have successfully made an e-Transfer deposit to your Bitbuy account, you will receive two emails to confirm the transaction:

  1. The first email will come from Interac, on behalf of your financial institution, and it will confirm that the deposit was successful. 
  2. The second email will come from Bitbuy, and it will confirm that the funds have been deposited into your account and are now available for trading. You can check your new balance on your dashboard and activity feed.

Note: Deposits made via Interac e-Transfer can take up to 1 hour during times of heavy traffic. If your funds are taking longer than an hour to process, it is usually an indication that your bank has placed a hold on your funds. If this happens, we recommend contacting your financial institution's loss prevention or fraud department directly to verify the transfer.

Having trouble depositing to your account using Interac e-Transfer Request? Check out this troubleshooting checklist for assistance.

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