Canada Sees a Record Number of Interac e-Transfer Transactions

Christine Persaud


Published: 02/08/2019 08:54:32 AM EST in Industry

Canada Sees a Record Number of Interac e-Transfer Transactions

Interac Corp. reports a record number of transaction for its e-Transfer service for 2018, with more than 371 million e-Transfers worth a total of more than a $132 billion. This represents a 54% increase in volume and a 45% increase in value over 2017.

Across the nation, Canadians have embraced the platform, using Interac e-Transfer on average over one million times a day, and over 35 million times each month.

The majority (80%) of Canadians using online banking are registered to use Interac e-Transfer, with 15.2 million unique active users every month. The average user sends over three transactions per month.

The holiday season clearly showed a spike in e-Transfers, with the highest single day on the service being November 30, 2018, when more than two million e-Transfer transactions were sent. Sixty per cent of all Interac e-Transfer transactions are under $200, and the average transaction size for an e-Transfer is $357. Close to 76% of Interac e-Transfer transactions are deposited on a mobile device.





Article Tags:  interac, e-transfer, record, transactions, transfer, money, funds, mobile, banking

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Canada Sees a Record Number of Interac e-Transfer Transactions








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