Preventing Interac e-Transfer® fraud – TD Canada Trust (2024)

FAQs

Preventing Interac e-Transfer® fraud – TD Canada Trust? ›

Only send money to people you know and trust, just as you would cash. An Interac e-Transfer transaction cannot be reversed once a recipient has deposited the funds. Always use a strong password that can't easily be guessed or found – and make sure you share it via a safe channel.

Deposit your money automatically without answering a security question when you register for Autodeposit. Create strong and unique passwords to protect your bank, email and social media accounts. Avoid including information that's easy to guess, such as birthdates or names.

How do I reverse an Interac E-Transfer transaction? Unfortunately, once a deposit has been made there is no way to reverse the transaction. You'll have to make arrangements directly with the recipient. You should only send money transfers to parties you know and trust.

If you're a TD Bank Customer and think you've been a victim of bank fraud, Christopher Blackmore, Fraud Risk Management Expert for TD Bank, says, “The first step is to visit our Security Center to notify our fraud teams and lock down your account." “We have teams ready to take you through the process.

In response to customer inquiries, they can trace payments, view a customer's transaction history and access payment details. They cannot, however, access any memos attached to an Interac e-Transfer.

If you already have an updated Canadian mobile number on file with us and a Canadian address, you will automatically receive TD Fraud Alerts. Not sure whether we have your current mobile number? Simply Log in to EasyWeb, call us, or visit a branch to update your profile.

An Interac e-Transfer transaction cannot be reversed once a recipient has deposited the funds. Always use a strong password that can't easily be guessed or found – and make sure you share it via a safe channel. Better yet: Suggest that your recipient set up Interac e-Transfer Autodeposit for ease and added security.

Can my bank account be hacked through an e-transfer? ›

However, this recent technology boom has also allowed hackers, fraudsters, and identity thieves to develop new ways of stealing your money, particularly through e-Transfer scams. In fact, there are multiple ways of falling victim to this type of cybercrime if you're not careful when conducting bank transactions online.

If you receive an e-transfer notification from a “government official” - or a message that claims they need help transferring money - chances are, it's a scam. You may be told you'll be rewarded for completing an e-transfer for them, or you may be sent a fake e-transfer to accept.

You are covered by the TD Online and Mobile Security Guarantee provided you meet your security responsibilities in the customer agreements you have with us. If you encounter a phishing attempt (i.e., phishing emails, fraudulent text messages, etc.), please report it by sending an email to phishing@td.com.

Did a scammer make an unauthorized transfer from your bank account? Contact your bank and tell them it was an unauthorized debit or withdrawal. Ask them to reverse the transaction and give you your money back.

Through its investigation, NCB Management Services learned that sensitive personal identifiable information belonging to TD Bank's customers may have been accessed on February 1, 2023. On May 12, 2023, TD Bank began contacting individuals whose information may have been impacted.

If you receive an Interac e-Transfer text or email you weren't expecting, confirm with the sender via another channel. If the email or text comes from someone you don't know, or you suspect it to be fraudulent, don't respond or click any links.

If you've transferred money to someone because of a scam

Your bank or building society should reimburse you if it's registered with the Lending Standards Board under their Contingent Reimbursem*nt Model Code (CRM Code). You can check if your bank is registered under the CRM code on the Lending Standards Board website.

Report the error message you received to your financial institution's online banking support and they will investigate the issue affecting the completion of your transfer. Only the sender's financial institution can assist in cancelling a transfer that has not been completed.

Before accepting the transaction, you will have to answer the security question that the sender set up. Once those details are filled out, follow the instructions to confirm the transaction and the funds will be deposited to your account.