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What’s the difference between a stop payment and a reclaim Interac e-Transfer transaction?

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A stop payment is when the sender chooses to stop the payment; the sender is charged a fee for this request.

A reclaim money transfer is when the Interac e-Transfer transaction can’t be delivered. This can happen for several reasons:

  • The recipient's e-mail address or mobile number is invalid
  • The recipient can’t answer the security question
  • The recipient declines the transfer
  • The transaction expires

When the Interac e-Transfer transaction can’t be completed, the funds are returned to the sender. No fees are charged in this case.

Please note: stop payments and reclaims are not available if the recipient is registered for Autodeposit.

† Simplii Financial personal banking services are provided by the direct banking division of CIBC. Banking services not available in Quebec.
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