Sending money by EFT transfer to a Canadian bank account

EFT (Electronic Funds Transfer) is how Paysavo sends Canadian dollars directly to a recipient's Canadian bank account. Unlike a US ACH transfer, which uses one routing number, a Canadian EFT recipient's bank is identified by three separate numbers:

• Transit number — identifies the specific bank branch.
• Institution number — identifies the bank itself.
• Account number — the recipient's account.

You'll also need the recipient's name and email address. All of these are required fields — Paysavo will reject the transfer before it's submitted if any of them is missing.

How this differs from other CAD options

• EFT goes directly to a bank account using transit/institution/account numbers, described above.
• Interac e-Transfer goes to an email address instead, with a security question and answer rather than bank details — see the separate Interac e-Transfer guide if that's what you're sending.
• Wire is a separate, typically higher-value option identified by SWIFT/BIC and account details rather than transit/institution numbers.

Don't mix these three up — an institution number is not the same as a routing number, and typing US-style bank details into a Canadian EFT recipient's fields will fail the transfer or, worse, send it to the wrong account. If you're not sure which one applies, ask the recipient which type of transfer they want.

Still need help? Contact Paysavo support.