Bettie tried to correct me. She did not want me to say “interac” when paying with debit, assuming it was lost in translation from my Montreal mother-tongue of french. I was the one who corrected her— interac is to debit in Canada as kleenex is to tissue in the States.
(click on the bold-faced vocab word:))
Ladies, remember the word interac whenever out with a Canadian man. It will bring back fond memories of his homeland!
Proceed cautiously if he is a Montrealer, you may be rewarded with a double cheek kiss—dodge right—it starts on left.
Interac, c’est debit in Canada. Pretty much anytime anyone uses a debit card, she is using the interac debit service.
Now, the neat thing to remember is interac has a capability that allows e-transfers. So handy when I buy everyone concert tickets and need to be paid back! Think wire transfer, mais cheaper and less complicated!
Instead of sending a check or cash, send $$ with interac e-transfers. All I need is the email or phone # of the recipient plus a security q. A notification with instructions—not $$—is sent to recipient’s email/phone so they can securely transfer the funds to their account. Yep, no account info sharing is necessary!
Et plus, interac is similar to the U.S.’s popmoney.
(Originally published on Amanda Stanhaus’s financial literacy blog: XO, Bettie.)