What is e-transfer (ACSS)?
e-Transfer is a completely online, paperless money transfer service which enables you to send money directly from your bank account in Canada to your beneficiary in India from the comfort of your home. It uses the Canadian Automated Clearing Settlement System (ACSS) network to directly transfer money. ACSS is the clearing network for electronic funds transfers in Canada. Banks can process financial transactions electronically without using paper instruments such as checks using the ACSS network. ACSS allows a client to use a bank to initiate a debit or credit transaction on his or her bank account, subject to certain authorizations as per ACSS rules.
