What type of bank accounts in CANADA can be used for e-Transfer (ACSS)?
You can use it if you have a consumer checking account or a consumer savings account with a bank affiliated to the ACSS network in CANADA. You can also use your consumer money market accounts for online transfers. However, banks in CANADA treat money market accounts differently in the case of ACSS transactions. While some consider it as consumer savings accounts, others treat it as consumer checking accounts. Hence, you’ll need to check with your bank in CANADA, as to how they classify money market accounts and accordingly select either consumer savings account or consumer checking account. Please note that e-Transfer (ACSS) cannot be used for business / commercial bank accounts.
