Electronic Funds Transfer
Streamlines domestic payables and receivables (CAD/USD). Money is transferred between different users’ bank accounts within Canada.
Product benefits
- Reduces administration time and expense.
- Improves cash flow management.
- Faster payments - Funds deposited directly into accounts, same day or next day.
- Convenient - Save payment information online to make recurring payments.
- Send multiple payments at a time.
- Versatile – Pay expenses, employees, suppliers. Collect rent, membership fees, insurance premiums.
Account details
- Funds can only be sent within Canada.
- Online review and approval of payments.
- Low cost of payment.
- Avoid late fees by scheduling payments up to 60 days in advance.
Related services
ScotiaConnect Digital Banking
Enhanced online business banking to approve and submit payments, check balances, EFTs, Wires, and more.
Mobile Deposit
Deposit a cheque with your smartphone.
Bulk Interac e-Transfer
Make multiple money movements at the same time.
How can we help?
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Fees are billed in the currency of the subscribed accounts.
Separate EFT service agreements must be set up if both USD and CAD EFT transactions are required.
Technical Integration Services (TIS) related to non-standard requirements (if any) are billed separately per Scotiabank’s published TIS pricing schedule, which is available upon request
Available only in Canada.