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How to fund my Shakepay account with a wire transfer?
How to fund my Shakepay account with a wire transfer?

The new wire transfer feature

Updated over a week ago

Want to send over $10,000 to your Shakepay account? If the amount you want to send is too high for an e-Transfer, then you can use our wire transfer feature.

The wire transfer feature is enabled on all fully verified accounts.

Note: Once you initiate the wire transfer from your bank, it can take up to two working days for the wire to be credited to your Shakepay account.

Step 1: Save your bank account details

  • From the main page of the mobile app, click on the Add button and select Wire Transfer.

  • Click on Link a bank account, then you will be asked to enter your bank account details.

  • Once you have entered your bank details, click on Confirm.

Note: For personal Shakepay accounts, we can only accept wire transfers coming from your personal bank account under your own name. For business Shakepay accounts, we can only accept wire transfers coming from your corporate bank account. We can only accept wires made in CAD.

Step 2: Create a wire request

  • Click on Create wire transfer request.

  • From here, you can select the wire transfer amount you wish to make, and the bank account from which it will be sent, and click on continue.

  • You will be asked to confirm that the information entered is correct, and then you will be redirected to the instructions page.

  • The next page will show you Shakepay's bank account details, along with a reference code to include in order for you to go to your bank and make the wire transfer!

Step 3: Send your wire

  • Using banking details provided in the wire request, you can go to the bank and ask them to make the wire

  • Do not forget to add the reference code given in the wire request. This code is important as it helps us to make sure that the funds are coming from you, and it allows us to process your wire faster

  • If the bank teller doesn’t know in which field to put the reference code, here is a list of examples per bank:

    RBC: Remittance Information
    TD: Instruction
    BMO: Remittance Information
    Desjardins: Payment Details
    CIBC: Details of payment
    Scotiabank: Information to beneficiary
    ATB: Info for the beneficiary
    Simplii: Details of payment
    Vision Credit Union: Receipt Info
    Access Credit Union: Payment Details
    Innovative Credit Union: Receipt Info
    Meridian Credit Union: Payment Details
    HSBC: Payment Details
    ATB: Info for the Beneficiary

Managing your saved bank accounts:

  • From the wire transfer page, click on View bank accounts.

  • From here, you can view the list of bank accounts you have saved, and add a new one.

  • To delete a bank account that has been saved, select it from the list and you will be given the option to remove it.

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