Interac

by astanhaus

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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.

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(Originally published on Amanda Stanhaus’s financial literacy blog: XO, Bettie.)

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