Here are the steps to add funds to your Shakepay account with an e-Transfer sent from your bank:
Log into your Shakepay app.
Click on Add from the home screen.
Click on Interac e-Transfer®.
Copy each field to your clipboard by tapping each field: funding email address, security question and security answer.
Head to your online banking services 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, defining the amount and Send!
Notes:
Please allow up to one hour for e-Transfers to be received.
Please only send funds from your personal bank account as we do not support e-Transfers from someone else 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 60 minutes to get the funds in your Shakepay account so hang on tight and the funds should get credited within that timeframe.
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 have it credited.
Note:
e-Transfers are limited at $10,000 per transaction. If you sent an e-Transfer above $10,000, we will not be able to process it so we would ask you please cancel it from your online banking services.
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 are a receiving a Full name needed message to credit your e-Transfer or received an email saying the funds are not coming from your own personal bank account, please follow check out this article to update your e-Transfer profile depending on your bank:
Note: If you already updated your e-Transfer profile name to your full name, please send a reminder to have the funds credited.
My e-Transfer has a 412 error code
If your e-Transfer is showing a 412 error code, please try these steps:
Call your sending bank
Ask to speak to the e-Transfer team and tell them you wish to resolve your 412 error.
Send a reminder on the e-Transfer to have it updated and deposited to Shakepay once the bank has released/verified the funds.
Notes:
Another way to resolve this issue is to cancel the pending e-Transfer and send a smaller amount.
A 412 error code means the e-Transfer needs to be verified by your bank so they can release the funds.
If you called your bank and they verified the e-Transfer, send a reminder on the e-Transfer to have it deposited.
My e-Transfer is declined but it’s coming from a joint bank account
If you are seeing a message letting you know someone else sent the funds but it’s coming from a joint bank account, follow these steps:
Find a bank statement or void cheque showing both account holder names.
Make your document into a PDF file
Upload it through 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!
If the funds where sent by someone else and are not coming from a joint bank account, please note we cannot accept any funds coming into your Shakepay account from other people (friends and family) or business accounts.
My e-Transfer is declined and someone else or a friend sent this e-Transfer to me
We cannot accept any funds coming into your Shakepay account from other people (friends and family) or business accounts.
Please ask the sender to cancel the e-Transfer. They may do so by cancelling the transfer through their mobile banking app. Shakepay is unable to cancel it or reject it as we don't have access to the sender's bank.
In the future, please only send e-Transfers from your personal bank account in order to fund your Shakepay account.
My e-Transfer is not received in Shakepay / My e-Transfer is not showing in Shakepay
Although some e-Transfers are instantly deposited, it can take up to 60 minutes to get the funds in your Shakepay account so hang on tight and the funds should get credited within that timeframe.
First, check if you have a banner notifying you of the e-Transfer pending in the app. If so, click the banner and you will see instructions on how to get your funds credited.
If you are not seeing a pending notification for your e-Transfer in the Shakepay app and cannot locate your e-Transfer, here are the next steps to resolve this issue:
Double-check the e-Transfer details and make sure the security question is your shaketag (username)
Make sure the e-Transfer was sent to the correct funding email: [email protected]
Verify the notify by section of your e-Transfer. It has to be defined to by email so if it shows as SMS, update it to by email.
Cancel the e-Transfer, create your Shakepay recipient again by double-checking you are using the right information from the Shakepay app and send a new one.
If all this fails, call your bank as they might have blocked your e-Transfer.
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 online banking services. Shakepay is unable to cancel it or reject it as we don't have access to the sender's bank.
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 previously funded your Shakepay account from that bank account. If you are funding from a new bank account, it can take up to 60 minutes to deposit it.
If this is your first time sending an e-Transfer to Shakepay, please check if it is pending in the app and follow the instructions provided to have the funds credited. It can take up to 24 hours to approve your bank account the first time you fund from it.
If you sent many e-Transfers in the past 24 hours, this may delay your e-Transfer being processed quickly. We suggest you send less e-Transfers but for amounts which cover your needs to have them processed in a timely manner.
Where can I find my security question and answer?
To find your security question and answer, follow these steps:
Open the Shakepay app and log in.
Click Add funds.
Click Interac e-Transfer
Your security question and answer will be displayed!
What to do when Shakepay updates the email address for e-Transfers?
Our email address for e-Transfers is occasionally updated and will auto-update within the app.
Currently, the email address you need to use for sending e-Transfers to Shakepay is [email protected]
You can check the current funding email address by following these steps:
Log into your Shakepay app.
Click on Add from the home screen
Click on Interac e-Transfer®.
Though the former email addresses will always work, we recommend using the newest address as it will likely process faster.
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 is under your own name.
Funding a business account: When funding a business Shakepay account, funds must be sent from your corporate account. We will not accept funds sent from a personal account or a different corporate bank account.
Note: If you are funding from a joint bank account, you will be asked to submit proof of joint account. You can find more information on this in this article.
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.
You can find more useful information about this here: What is Proof of Source of Funds and when will it be requested from me?
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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