We now support funding your Shakepay account using Interac e-Transfer Request Money in addition to manually sending funds via your bank.
How to add funds to your Shakepay account via Interac e-Transfer Money Request:
Log into your Shakepay app.
Click on "Add" from the home screen.
Click on "Interac e-Transfer®".
Enter the amount in CAD you want to add to your Shakepay account.
Follow the Interac flow to select the bank you want to fund from.
Confirm the request from your bank mobile app or via web banking.
How to add funds to your Shakepay account via Interac e-Transfer:
Log into your Shakepay app.
Click on "Add" from the home screen.
Click on "Interac e-Transfer®".
Click on the “Manual” tab at the top.
You will find the information required for your e-Transfer:
Funding email address, security question and security answer
Please make sure that the e-Transfer information is accurate as any typos may result in the transaction not reaching our end.
Head to your mobile or web banking and log in.
Navigate to the "send e-Transfer" section in your online banking services and use the information copied in your clipboard to add your Shakepay account as an e-Transfer contact.
Initiate an e-Transfer by selecting your new Shakepay contact created in the step before and then enter the amount you would like to send!
Notes:
Please allow up to 1 hour for e-Transfers to be received.
Please only send funds from your personal bank account as we do not support e-Transfers from a 3rd party (friends or family) or a business account.
Want to fund from a corporate bank account, open a Shakepay for Business account here.
If this is your first time manually sending an e-Transfer, it can take up to 24 hours to approve your bank account.
Shakepay's funding email address to manually send e-Transfers to your account is: [email protected]
About Interac e-Transfer Request Money
What is Interac e-Transfer Request Money?
Interac e-Transfer Request Money is a feature that allows you to fund your Shakepay account by requesting an amount in the app and confirming the request in your banking app. Interac e-transfer Request Money removes the need to create an e-Transfer contact with your bank and makes it easier to quickly add funds to your Shakepay account.
What if my bank doesn’t support Interac e-Transfer Request Money? Can I still fund my account by using my Interac e-Transfer details?
Yes! If you prefer to continue funding your account manually using your Interac details, or if your bank does not support Interac e-Transfer Request Money, you can still send an e-Transfer to your account using your Interac e-Transfer details by adding Shakepay as an e-Transfer contact with your bank. To find your details, click on “Send manually from my bank” from the “Add cash” screen, then follow the steps outlined here.
Can I request money from someone else?
Funds must be sent from your own personal bank account. We will not accept funds sent from a corporate bank account or any other person. If you have sent funds from a joint bank account, you will be asked to provide a recent bank statement as proof.
Can I cancel my money request?
There is currently no way to cancel a money request once you have created it in the Shakepay app. The request will automatically expire after 24 hours, or you can decline the request from the email you received from Interac when you created the request.
Troubleshooting and tips
My e-Transfer is pending in the app - I sent an e-Transfer to Shakepay and it hasn't been credited
Although some e-Transfers are instantly deposited, it can take up to 1 hour to get the funds in your Shakepay account.
If you received an email about your e-Transfer, check the steps suggested to resolve the issue or check the pending notification for your e-Transfer in the app.
You will need to follow these steps if your e-Transfer is pending to resolve the issue and have the funds credited:
Open the Shakepay app and log in.
Click the banner for your pending e-Transfer. It will be displayed on the home screen of the Shakepay app.
Follow the instructions provided on the e-Transfer to update your e-Transfer and to have the funds credited.
Note:
Shakepay can accept a maximum of $10,000 per e-Transfer transaction.
If you sent an e-Transfer and it has been accepted by Shakepay but not yet reflected on your account, check in the app to see if you have a banner for the pending e-Transfer and if you do, click the banner for instructions on how to deposit it.
My name doesn’t match my e-Transfer, I need to update my nickname
If you sent funds from your own personal bank account and you received a message saying that the funds are not coming from your own personal bank account, please follow these steps to update your e-Transfer profile:
Note: Once you are able to update your e-Transfer nickname on your mobile or web banking app, please allow us 24 hours to review and approve the e-Transfer account.
You can also reach out to our Customer Support Team and we will be happy to look into your e-Transfer!
My e-Transfer has a 412 error code
A 412 error on your e-Transfer means that the transaction needs to be verified by the sending bank.
If you received a message saying that your e-Transfer is showing a 412 error code, please try these troubleshooting steps:
Call your sending bank and let them know that you authorize the e-Transfer to Shakepay.
If you've contacted your bank about the e-Transfer, please allow 1 hour for us to try and accept the e-Transfer on our end.
If the issue still persists after contacting your bank, try creating a new request or cancelling a manual transfer re-sending it from your bank.
If you have additional assistance regarding the resolution of your 412 error, please reach out to our Customer Support Team and we will be happy to help!
My funds are coming from a joint bank account
If you manually send funds from a joint bank account that you share with someone, we will need to receive a proof of joint account from you.
A void cheque or a bank statement (issued in the past 30 days) showing the names of all owners
Locate a void cheque or a bank statement (issued in the past 30 days) in PDF format showing names of all account owners
Upload your proof of joint account using this link: https://shakepay.com/documents/proof-of-account
Wait until our team verifies your document and approves the joint bank account. Your funds will then be credited!
Notes:
If you have been waiting for more than 12 hours, reach out to our customer support team to approve the proof of joint account you’ve uploaded.
We cannot accept funds from a 3rd party (friends or family) or a business account. Joint bank accounts will be accepted and approved once we receive the required proof of joint account documentation.
If your family or friend sent funds to your Shakepay account, please ask the sender to cancel the e-Transfer. Once the e-Transfer is cancelled from their mobile or web banking app, the funds will be returned to their bank account immediately.
Shakepay is unable to cancel or reject incoming e-Transfers, it must be cancelled from the sender's end.
e-Transfer Not Received in Shakepay? Here’s What to Do:
If your Interac e-Transfer is not showing up in your Shakepay account, follow these steps to resolve the issue.
1. Normal Processing Time
e-Transfers can take up to 1 hour to be received. This is considered normal processing time. Please wait before taking further action.
2. Check for Typos in Transfer Details
If you sent your e-Transfer manually and it’s not visible in the Shakepay app and there's no pending notification, the most common reason is a typo in the security question or answer.
✅ Solution: Cancel and send a new one with the correct information located in the app.
3. Verify with Your Financial Institution
If you are certain the e-Transfer details are correct and the funds have still not arrived, contact your financial institution to confirm the funds have been sent.
I would like to cancel the e-Transfer I sent to Shakepay
If you sent an e-Transfer to your Shakepay account and would like to cancel it, you can do so from your bank's mobile app or web banking.
Shakepay is unable to cancel or reject incoming e-Transfers, it must be cancelled from the sender's end. Once the e-Transfer is cancelled from the mobile or web banking app, the funds will be reverted immediately.
How long will it take to have my e-Transfer credited in my Shakepay account?
Usually, e-Transfers are almost instantly received in Shakepay if you are sending funds from a previously approved e-Transfer account or if you are using Interac Request Money.
If you are sending funds from a new bank account, it can take up to 24 hours for the funds to be deposited. Please reach out to our Customer Support Team if you have been waiting longer than this so we can approve your new e-Transfer account and deposit your funds!
If you sent multiple e-Transfers in the past 24 hours, this may delay your e-Transfer being processed quickly. We suggest you send less e-Transfers with amounts which cover your needs to have them processed in a timely manner.
Funding for a personal vs. business account
Personal Accounts: You can only fund your personal Shakepay account using a bank account registered in your full legal name. Transfers from business or third-party accounts will not be accepted.
Business Accounts: You can only fund your business Shakepay account using a corporate bank account that matches the business name on your Shakepay account. Transfers from personal bank accounts or other corporate accounts will not be accepted.
What’s a proof of source of funds and when will it be asked?
A proof of Source of Funds (POSOF) is a document or a set of documents that shows the source of incoming funds.
POSOF can be requested for incoming CAD sent from a bank account or to confirm the origin of cryptocurrency that has been sold for a cash withdrawal.
We are occasionally required to collect further information or documentation from our customers (such as POSOF) to comply with anti-money laundering laws and regulations or to complete due diligence. We may also request PSOF for high volume transactions.
Any POSOF document submitted needs to cover all deposits or withdrawals made 24 hours prior to the most recent high volume transaction.
Acceptable POSOF documents that may be requested include, but not are limited to:
Bank statement showing the deposit
Proof of Wire
Void Cheque
Consent letter from both parties on account for joint bank accounts
ID of the co-owner of the bank account, showing the name and the signature
The Bitcoin or Ethereum wallet address that funded the Shakepay account
If you have additional questions regarding POSOFs or need further clarification, please reach out to our Customer Support Team and we will be happy to help!
Can I fund my Shakepay account with US dollars or with a credit card?
Currently, we do not accept funding in US dollars or credit card.
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