How to Perform an Email Money Transfer

An e-mail money transfer is an easy way to send or receive money using an online financial institution and your e-mail account. One well known company that operates within this manner is PayPal. Services of this kind will generally charge either the sender or receiver a transfer fee.

Using INTERAC

1. Log onto the website of your financial institution and locate the transfer money tab or button. This should be located on the left-hand side of the screen.


2. Complete the money transfer online form. The form will request the e-mail address of the receiver of the funds, the amount of money you wish to transfer and a security question.


3. Upon successful completion of the transfer, an e-mail notification will be sent to the receiver. In order for the transfer to be considered complete, the receiver will need to accept the money. 

Using PayPal

1. You'll first need to create an account with PayPal. PayPal will require you to complete an online form that includes your name, mailing address, e-mail address and password.


2. Once complete, select the "Send" tab in order to transfer money using an e-mail address. This section should be located near the top of the page under a blue tab.


3. Enter in the receiver's e-mail address along with the amount of money that you plan to transfer. The website will also request to know if you are sending the funds for goods, services performed or for eBay items. Select the appropriate box to continue.


4. Submit and confirm the e-mail address. The recipient of the funds will receive an e-mail notification in which they'll need to accept the funds through the e-mail as well as hold a PayPal account of their own in order to receive the funds.