You have to have online banking with one of the major banks. I could be mistaken (please correct me if i'm wrong here), but I believe the only major bank that doesn't accept EMT is National Bank. And as far as I know, no credit unions / caisse populaire support it either.
How it works...
If you're receiving a payment from someone, you get an email with a link to the Certapay site. It gives you a list of the supported banks. You click on your bank, and you're redirected to your online banking's login page, where you login, and you can then accept the funds being transferred to you. You will be asked to answer a security question with the answer you and the sender have pre-agreed to, and your money is deposited into your selected account. Receiving funds is free.
If you're sending money, it varies a bit from bank to bank. But basically, you enter the recipients email address, the amount you want to send, the account you want the money to come from, and a secret question / answer that you agree to with the recipient. The email will be sent to the recipient where he does what I described above in the previous paragraph. Sending money costs you $1.50.
So it's quick, easy, and secure. Makes transferring money online in Canada almost as easy and convenient as swiping your ATM card and typing in your PIN.
Last edited by Crunchmeister; April 12th, 2009 at 23:11..