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®".
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 you 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.
If this is your first time sending an e-Transfer, it can take up to 24 hours to approve your bank account.
Shakepay's funding email address to send e-Transfers to your account is: [email protected]
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
An 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, please try cancelling and re-sending the e-Transfer.
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 your funds are coming 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!
Reach out to our Customer Support team to approve the proof of joint account document you've uploaded.
Once the document is approved and your e-Transfer is approved, the funds will be added to your account!
Note: 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.
My e-Transfer is not received in Shakepay / My e-Transfer is not showing in Shakepay
Please allow up to 1 hour for e-Transfers to be received. Up to 1 hour is considered normal wait times for e-Transfers.
If you are not seeing your e-Transfer or there is no pending notification for your e-Transfer in the Shakepay app, there may have been a typo on the e-Transfer question or answer - this is usually the case for e-Transfers that are not showing up on our end. Here's how to troubleshoot this issue:
Cancel and re-send the e-Transfer and make sure that the information on your e-Transfer is entered correctly. You can find your e-Transfer information by following these steps:
Shakepay app > Add > Interac e-Transfer
2. If you are sure that the e-Transfer information was entered correctly and the funds still doesn't reach our end, please contact your financial institution to ensure that the funds have been released from your end.
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.
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
Funding a personal account: When funding your personal Shakepay account, funds must be sent from a bank account that matches your full legal name.
Funding a business account: When funding a business Shakepay account, funds must be sent from your corporate account that matches the business' name on the Shakepay account. We will not accept funds sent from a personal account or a different corporate bank account.
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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