E-transfer system delays caused by ‘significant’ technical difficulty, Interac says – Business

Some financial institutions in Canada have temporarily suspended the Interac e-transfer system as the service deals with “significant” technical difficulties.

The email money transfer service ferries funds between personal and business accounts at participating banks as well as other financial institutions. 

The service was down as of 6:30 a.m. PT on Friday. (CBC)

It was initially unavailable on Thursday, but Interac said the problem was resolved in the evening. By Friday morning, many people were reporting they weren’t able to use the service through several Canadian banks, including Scotiabank, BMO, CIBC, TD Bank and RBC.  

At 1:10 p.m. ET, a statement from Interac said it was experiencing a “significant technical difficulty” that was causing the delays and disruptions.

It also apologized to its customers, and noted some financial institutions had chosen to suspend the service temporarily while Interac works to resolve the issues.

“To check on the availability of service or status of particular transfers, customers should contact their financial institution directly,” the statement said.

In a tweet, Interac said the issue was not caused by “hacking.”

Some customers took to Twitter Friday, saying they may have problems paying their rent for July 1 over the issue.

In April, Interac said that Canadians made more than 158 million e-transfers last year — up more than 50 per cent from 2015 — with a total value of more than $63 billion.

Interac said that usually 65 per cent of transfer notifications are received “instantly.” Almost 70 per cent are received on a mobile device.

On Friday, Interac said its other products and services were…

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