Email money transfer (EMT): How to send money through email + alternatives

So, what is email money transfer? An email money transfer (EMT) is a way to send money directly to someone using their email address. The transfer moves electronically between bank accounts, making it a fast and convenient option for everyday payments.

There’s no shortage of options for how to send a payment these days. Whether using an app, a bank transfer, or even a paper check, there’s something for everyone. One option that is often confusing is the email money transfer, which is widely used in Canada but not available through US banks.

Because direct email-to-email transfers are unique to Canadian banking networks, people in the US often need to look for alternatives. In this post, we’ll explain what EMTs are, their common uses, and how to transfer money through email in the US.

Table of contents

• How do email money transfers work?
• EMTs vs. EFTs vs. P2P payments
• Pros and cons of email money transfers
• How to send money to email addresses in the US
• Best practices for sending money to email addresses
• Send money with PayPal

How do email money transfers work?

In Canada, the most common way to send money by email is through Interac e-Transfer, offered by major banks and credit unions. You interact with your bank’s app or online portal, but the Interac network actually moves the funds. Platforms like PayPal work similarly in the US, where the app handles the interface while networks like ACH or EFT transfer the money.

Here’s exactly how EMTs work:

1. Log in to online banking: Access your bank or credit union’s website or app.
2. Choose Interac e-Transfer: Select it as your transfer method.
3. Enter recipient details: Provide the recipient’s email or mobile number and the amount.
4. Set up security: If Autodeposit isn’t enabled, create a security question to ensure only the intended recipient can claim the money.
5. Send and confirm: The recipient gets instructions to deposit the money, and you receive confirmation once it’s accepted.

To receive money from an email money transfer, follow the instructions in the email, which usually include identity verification or answering a security question set by the sender. After completing these steps, the money is deposited directly into your bank account.

EMTs vs. EFTs vs. P2P payments: Key differences

While email money transfers are used for direct person-to-person payments in Canada, electronic funds transfers (EFTs) and peer-to-peer (P2P) payments cover a wider range of digital transfers across different regions. Both EMTs and P2P payments can assist with sending money internationally, making them a convenient option for remittance.

EMTs

Requirements: Recipient email, funding source (bank account or wallet)

Email money transfers are popular in Canada for their speed and simplicity in everyday situations, from splitting bills to sending gifts. Many transfers are processed instantly or within a few hours, making them ideal for urgent or last-minute payments.

EMTs also include built-in security measures to keep funds safe. For example, many services require the recipient to answer a security question before accessing the money, so only the intended person can claim it.

EFTs

Requirements: Bank account and routing information

Electronic funds transfers (EFTs) are a broad category of bank-to-bank payments that move money electronically. While email money transfers technically fall under this umbrella, EFTs include a large range of payments that go beyond the one-off, person-to-person transfers typical of EMTs.

These other types of EFTs can take a bit longer to process than instant email money transfers, which makes them a better fit for scheduled transactions like payroll or recurring bills. Their regulated nature and predictable timing help funds get delivered securely and reliably.

P2P payments

Requirements: App account, linked bank account, debit card, or wallet

In the US, you can’t send money directly using someone’s email the way EMTs work in Canada. Instead, peer-to-peer transfers let you connect your bank account, debit card, or wallet to an app like PayPal, simplifying the process of sending money quickly and securely. These services are designed for everyday, on-demand payments between friends, family, or small businesses.

People use P2P payments for things like splitting dinner or rent and paying small businesses or freelancers. With apps like PayPal, there are multiple ways to send money, so you can choose the method that works best for you.

What people use EMTs for

Email money transfers are perfect for everyday, personal payments. Many people use them to send money to friends or family for birthdays, gifts, or just to help out. They’re also useful for splitting shared expenses, like covering a meal with friends or chipping in for a group gift.

Some freelancers and small business owners also rely on EMTs to receive payments quickly and securely, making it easier to manage one-off transactions. People use EMTs for less common purposes, too, such as sending donations or receiving insurance claim payouts, depending on what their bank allows.

Potential pros and considerations of email money transfers

Before you start sending money through email, it helps to understand the main benefits and limitations of using this method. Here’s a quick breakdown:

How to send money to email addresses in the US

While the US doesn’t offer EMTs like Canada, you can still send money using email through peer-to-peer apps. This works a bit differently from EMTs in Canada, since the transfer happens through the app rather than a bank’s email system.

Here’s how to send money through email in the US:

1. Connect your bank account to a P2P app: Link your bank account, debit card, or digital wallet to a P2P service like PayPal.
2. Initiate a payment: Open the app, enter the recipient’s email address or account name, and specify the amount you want to send.
3. Confirm security measures: Depending on the app, you may need to verify your identity or add two-factor authentication for added security.
4. Review and send: Double-check the payment details, then confirm the transfer. The recipient will receive a notification and can access the funds through their account.
5. Track the transfer: Most apps let you see the status of your payment so you know when the money has been received.

Because these apps are linked to your bank account, they also work well for transferring money between banks, giving you more options than just sending money by email.

Best practices for safely sending money to email addresses

When you send money using email, convenience shouldn’t come at the expense of security. Following a few best practices can help protect both you and your recipient:

• Only send to trusted contacts: Verify the recipient’s identity.
• Double-check details: Confirm the recipient’s email address or account information before finalizing the payment.
• Watch out for phishing: Fraudulent emails may mimic legitimate payment requests. Avoid clicking on suspicious links or opening unexpected attachments.
• Avoid suspicious requests: Ignore invoices or payment requests that seem off, especially if they use pressure tactics.
• Use strong security settings: Create strong, unique passwords and enable two-factor authentication (2FA) on your account.
• Stay off public networks: Avoid transferring funds over shared Wi-Fi networks to reduce the risk of interception.
• Leverage built-in protections: EMTs typically include encryption and authentication, and remember that banks monitor transfers for unauthorized activity and fraud.

It’s also important to keep in mind that fees may apply for EMTs or other email transfers, depending on your bank or app provider. Checking the terms before sending helps you know any costs upfront and complete your transfer smoothly.