Request: Interac e-transfer for Canada

great!

TD Bank also has email transfer in USA & Canadian bank as they are the same system

those are the fields

this is one of the few banks that are in canada+usa and share this type of transfer system

Is there any field for a reference text? (Trade ID)

no extra fields at all

Are there any info out regarding chargeback risk?

a user cannot do a chargeback but if the account was stolen, the bank will always reverse the funds

Yes, that is ok. Thats for all Fiat transfer (except OKPay if its true what they say).

TD Bank can be USD or CAD depending on the account holder, its probably the only US bank that has email money transfer aside from chase

@ateoffofbitcoin
Do you have some comments on that? Some guy says chargeback is as easy as credit cards.

Once you receive money via interac e-transfer you have to deposit the money to your account. When you have done that it’s safe. That’s at least what they claim.

I’ve read though that cavirtex and canadienbitcoins stopped accepting interact emt for deposits.

To me the bottom line is: There might be some discrepancy between what banks say and what they do. If we’re honest, we have to say that there’s no such thing as irreversible payment methods, but SEPA, Faster Payments, clearXchange and interac emt are sufficiently hard to reverse.

Regarding Bitsquare: We need to have a warning that informs interac emt users that they have to deposit the money they receive into their account. Unless this has happened, the money can be easily charged back via the ‘payment history’.

I received an interesting reply on reddit. I’ll leave this here for further discussion:

BitcoinBrains

Yeah we’ve run an OTC brokerage in Canada since 2013.

In that time we’ve managed to only have one transaction of this kind reversed and we had luckily not sent any BTC because some facts weren’t adding up at the time.

I know a number of local bitcoins sellers who have had issues over the years. One guy even got arrested when he walked into his bank to try to pull out 15k in cash after the transaction which provided him that 15k had just been reversed. The bank assumed he was the one trying to scam them.

Currently most people selling BTC for EMTs in Canada keep themselves protected from fraud by keeping transaction limits low and using some kind of ID verification like a skype chat.


Edit: https://www.reddit.com/r/Bitcoin/comments/5adph2/we_need_more_people_using_bitsquare_ability_to/d9iulax/

Can Bisq now take Interac payments in Canada?

Yes. Interac is supported since quite a while.

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Great :-)! So is there a help file as to how to use it? I looked, couldn’t find anything.

Helpfile?
Here are the payment methods listed: https://bisq.network/faq/#paymentmethods
When you add a national currency account you can select it.

I did add a national currency account, pretty sure it was setup up as Interac. The problem is I don’t know how to actually send money via Interac to Bisq yet. I should mention that I’m doing this on behalf of my mother. I already sent .01 Bitcoin into the account, I understand I’ll have to send more as .01 Bitcoin is what is needed for the initial deposit, but first, I’d like to know how to set it up so that my mother can send money from her bank account via to her Bisq account via Interac.

You dont send Fiat to Bisq. You just enter the payment details and that will get exchanged with the other trader. The Fiat transfer is out of system, so you use your online banking and send the CAD (or you check there if you have received it if you are the BTC seller).

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Good point. I took a look at the offers, none of them were Interac unfortunately :-/

You can create your own offer.

Good point :slight_smile: