Interac e-Transfers
Sending and receiving money is fast, secure, convenient and free for Members!
The first time you send or receive an Interac e-Transfer you will be required to set up a profile in your Online Banking Account. This information can be updated at any time. To learn more how to set up Interac e-Transfers and others features, see below.
How do I get Deposit Anywhere™?
Deposit Anywhere™ is available on Parama’s Mobile App only. Download the iPhone or Android App to access this feature.
How much does it cost?
There are no fees to use Deposit Anywhere.
How does it work?
Open the Parama Mobile App, tap the “Deposit” button, select the account you would like the funds deposited to and enter the amount, take a photo of the front and back of the cheque, confirm the details and tap “Submit”. The funds will then be deposited securely into your account however will not be available for immediate use until the cheque has cleared.
What types of cheques can I deposit?
You can deposit cheques payable in Canadian Dollars and drawn at any Canadian Financial Institution. They must be payable and endorsed by you, the account holder.
Will I be notified if there is an issue with the deposit?
After you have made your deposit, you will receive a confirmation. Should there be an issue with the deposit or clearing of the cheque, Parama will contact you.
- Send and receive funds worldwide from the convenience of Parama’s digital banking – including to and from Lithuania and around the globe.
- Benefit from real time exchange rates, quick and easy delivery, and minimal to no sending fees.
- To get started, watch the videos, read the step-by-step or contact us.
How much will the recipient receive?
With our guaranteed transfer amount, what is sent is what is received – there are no deductions.
Which Accounts can I send International Transfers from?
International transfers can only be sent from your CAD Chequing Accounts.
How safe/secure is my International Transfer?
Your international transfer is protected with AES 256-bit encryption, automated identity verification, anti-money laundering procedures, automated online checks, advanced anti-fraud safeguards and insurance coverage – all through a FINTRAC regulated entity.
Are there any fees associated with International Transfers?
- Most transfers over $500 CAD are free. There are a few exceptions, noted below.
- If the transfer is less than $500 CAD, a $2.50 CAD fee applies.
- Few exceptions are transfers to INR, PHP, HUF, CZK, DKK, THB, KRW, AED, BHD, IDR, MYR, ARS, RON.
Incoming Wire Transfers
Incoming Wire Transfer Codes must be completed exactly using the SWIFT and FEDWIRE codes provided below. Any missing or incorrect information may result in the incoming wire being delayed or returned. If you have any questions, contact us.
Downloads:
Outgoing Wire Transfers
To transfer funds from Parama to another bank account worldwide, we welcome you to visit us at either branch, or call us, or simply complete our secure and convenient online form.
Estimated Service Charges
- Parama charges $25 for processing Outgoing Wire Transfers sent to Canada/US, applied in the currency of the wire being sent, and $35 for anything sent outside of Canada/US.
- Additionally, intermediary banks may deduct additional Service Charges prior to your Wire Transfer arriving at the beneficiary’s Financial Institution (F.I.).
