What is the difference between Money Mover and Interac e-Transfer®?

Money Mover and Interac e-Transfer are both great ways to move money although they have some key differences.Money Mover<ul><li>Best for moving larger sums of money between your different bank accounts</li><li>Transfer up to $10,000/day, $70,000/week, $250,000/month</li><li>Transactions are free and unlimited</li><li>Transfers take up to 3 business days to process</li></ul>Interac e-Transfer<ul><li>Best for sending money to friends and family</li><li>Transfer up to $3000/day, $10,000/week, $20,000/month</li><li>Transactions may have a fee</li><li>Transfers are instant, no delay</li></ul>

Can I use Money Mover to send money to a family or friend’s account at another Financial Institution?

No – you must be the signing authority between both linked&nbsp;accounts in order to use Money Mover.

How much does it cost to use Money Mover?

Nothing! It’s always free.

How long does it take for money to move between accounts?

3 to 5 business days, and incoming transfers may be subject to an additional hold period.

How many Money Mover links can I set up between my accounts?

There is no limit as long as they’re all Canadian Financial Institutions and you are the signing authority for all.&nbsp;Each Financial Institution will need to be linked separately.

What kind of accounts can I link?

The accounts must be single signing (included joint accounts), personal and Canadian. Any account that is dual signer, small business, commercial and/or from an International Financial Institution is not permitted.

What is the transfer limit per transaction?

$10,000 per day per linked account. For transactions over $10,000, please contact us directly at&nbsp;1-(866)-592-2226.

What are the benefits of signing up for Money Mover digitally versus manually?

By signing up digitally, it takes less than 10 minutes to complete and your accounts are linked instantly. The form can take up to 3 days to process. However, once your accounts have been linked, the same money limits and transaction time applies to both.

What if I can’t find my Financial Institution in the drop down list within Online Banking?

Not all Financial Institutions are eligible for digital signup. If you cannot find your chosen FI, we recommend you signing up for Money Mover manually by downloading the form.

How do I sign up manually?

These are three easy steps to setup Money Mover manually!Step 1Print the&nbsp;<a href="https://www.meridiancu.ca/getmedia/8df93505-68a8-454d-b692-02754c61c721/Money-Mover-Authorization-Form.pdf">authorization form</a>&nbsp;and provide the external account’s void cheque or direct deposit info. The authorization form can also be picked up at any&nbsp;<a href="https://www.meridiancu.ca/Contact-Us/Find-a-Branch-or-ABM.aspx">Meridian branch</a>. &nbsp;Step 2Mail your completed form and void cheque or direct deposit info to the&nbsp;<a href="https://www.meridiancu.ca/Ways-To-Bank/MoneyMover.aspx#contactcentre">Contact Centre</a> or drop off at your nearest&nbsp;<a href="https://www.meridiancu.ca/Contact-Us/Find-a-Branch-or-ABM.aspx">Meridian branch</a>. &nbsp;Step 3We will process your form within 3 business days and inform you once it’s linked through a secure message in your Online Banking account or by phone.&nbsp;

Can I delete linked accounts?

Yes, in Online Banking you can manage your existing linked accounts and delete them at any time.

Money Mover

Q: What is the difference between Money Mover and Interac e-Transfer®?

&lt;p style=&quot;text-align: left&quot;&gt;Money Mover and &lt;i&gt;Interac&lt;/i&gt; e-Transfer are both great ways to move money although they have some key differences.&lt;/p&gt;&lt;p&gt;&lt;strong&gt;Money Mover&lt;/strong&gt;&lt;/p&gt;&lt;ul&gt;&lt;li&gt;&lt;p&gt;Best for moving larger sums of money between your different bank accounts&lt;/p&gt;&lt;/li&gt;&lt;li&gt;&lt;p&gt;Transfer up to $10,000/day, $70,000/week, $250,000/month&lt;/p&gt;&lt;/li&gt;&lt;li&gt;&lt;p&gt;Transactions are free and unlimited&lt;/p&gt;&lt;/li&gt;&lt;li&gt;&lt;p&gt;Transfers take up to 3 business days to process&lt;/p&gt;&lt;/li&gt;&lt;/ul&gt;&lt;p&gt;&lt;strong&gt;&lt;em&gt;Interac &lt;/em&gt;e-Transfer&lt;/strong&gt;&lt;/p&gt;&lt;ul&gt;&lt;li&gt;&lt;p&gt;Best for sending money to friends and family&lt;/p&gt;&lt;/li&gt;&lt;li&gt;&lt;p&gt;Transfer up to $3000/day, $10,000/week, $20,000/month&lt;/p&gt;&lt;/li&gt;&lt;li&gt;&lt;p&gt;Transactions may have a fee&lt;/p&gt;&lt;/li&gt;&lt;li&gt;&lt;p&gt;Transfers are instant, no delay&lt;/p&gt;&lt;/li&gt;&lt;/ul&gt;

Q: Can I use Money Mover to send money to a family or friend’s account at another Financial Institution?

&lt;p&gt;No &#x2013; you must be the signing authority between both linked&amp;nbsp;accounts in order to use Money Mover.&lt;/p&gt;

Q: How much does it cost to use Money Mover?

&lt;p&gt;Nothing! It&#x2019;s always free.&lt;/p&gt;

Q: How long does it take for money to move between accounts?

&lt;p&gt;3 to 5 business days, and incoming transfers may be subject to an additional hold period.&lt;/p&gt;

Q: How many Money Mover links can I set up between my accounts?

&lt;p&gt;There is no limit as long as they&#x2019;re all Canadian Financial Institutions and you are the signing authority for all.&amp;nbsp;Each Financial Institution will need to be linked separately.&lt;/p&gt;

Q: What kind of accounts can I link?

&lt;p&gt;The accounts must be single signing (included joint accounts), personal and Canadian. Any account that is dual signer, small business, commercial and/or from an International Financial Institution is not permitted.&lt;/p&gt;

Q: What is the transfer limit per transaction?

&lt;p&gt;$10,000 per day per linked account. For transactions over $10,000, please contact us directly at&amp;nbsp;1-(866)-592-2226.&lt;/p&gt;

Q: What are the benefits of signing up for Money Mover digitally versus manually?

&lt;p&gt;By signing up digitally, it takes less than 10 minutes to complete and your accounts are linked instantly. The form can take up to 3 days to process. However, once your accounts have been linked, the same money limits and transaction time applies to both.&lt;/p&gt;

Q: What if I can’t find my Financial Institution in the drop down list within Online Banking?

&lt;p&gt;Not all Financial Institutions are eligible for digital signup. If you cannot find your chosen FI, we recommend you signing up for Money Mover manually by downloading the form.&lt;/p&gt;

Q: How do I sign up manually?

&lt;p&gt;These are three easy steps to setup Money Mover manually!&lt;/p&gt;&lt;p&gt;&lt;strong&gt;Step 1&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;Print the&amp;nbsp;&lt;a href=&quot;https://www.meridiancu.ca/getmedia/8df93505-68a8-454d-b692-02754c61c721/Money-Mover-Authorization-Form.pdf&quot;&gt;authorization form&lt;/a&gt;&amp;nbsp;and provide the external account&#x2019;s void cheque or direct deposit info. The authorization form can also be picked up at any&amp;nbsp;&lt;a href=&quot;https://www.meridiancu.ca/Contact-Us/Find-a-Branch-or-ABM.aspx&quot;&gt;Meridian branch&lt;/a&gt;.&lt;br&gt;&amp;nbsp;&lt;/p&gt;&lt;p&gt;&lt;strong&gt;Step 2&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;Mail your completed form and void cheque or direct deposit info to the&amp;nbsp;&lt;a href=&quot;https://www.meridiancu.ca/Ways-To-Bank/MoneyMover.aspx#contactcentre&quot;&gt;Contact Centre&lt;/a&gt; or drop off at your nearest&amp;nbsp;&lt;a href=&quot;https://www.meridiancu.ca/Contact-Us/Find-a-Branch-or-ABM.aspx&quot;&gt;Meridian branch&lt;/a&gt;.&lt;br&gt;&amp;nbsp;&lt;/p&gt;&lt;p&gt;&lt;strong&gt;Step 3&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;We will process your form within 3 business days and inform you once it&#x2019;s linked through a secure message in your Online Banking account or by phone.&amp;nbsp;&lt;/p&gt;

What is Money Mover?

Move your money for free when you want. Money Mover lets you move your money between your Meridian account and your external bank accounts. Link your accounts digitally, or manually by downloading a form. Once setup, you can use this feature in Online Banking or via our Mobile App to transfer up to $10,000 per day.

Become a Member

Why Money Mover?

Instant digital setup to link your other external bank accounts
It’s always free to send money to your linked accounts
Worry less about money limitations - send up to $10,000 per day
Simply schedule future and recurring money transfers to your linked accounts and cancel them easily at anytime

How do I set up Money Mover digitally?

Make a Transfer page in Online Banking with 'Link to my Other Bank' button highlighted

Step 1:

Sign into your Online Banking account here

Step 2:

Click “LINK MY OTHER BANK” within "TRANSFERS" to get started

Step 3:

Follow the instructions and start moving money to your newly linked account in 10 minutes

FAQs

Need Some Help?

Contact Us

Toll Free: 1.866.592.2226
International Collect: 1.416.597.0165

Monday to Sunday: 8:00 AM – 12:00 AM (EST/EDT)

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