There *are* fees associated with email money transfer - $1.00 for the sender, unless they have a bank plan that includes free email money transfers (most have at least one a month) and sometimes $1.00 for the receiver for "using Interac with another bank" if the source account and the destination aren't at the same bank - again, asssuming your plan doesn't handle that.
But it's EXTREMELY convenient, and if you get money transfers with your plan and the recipient uses the same bank, that's no charge at all, and at no time do you need to know anything except the email address of the recipient, and at no time do *they* need to know anything except the answer to the question you asked.
Here in the UK transfers are free, but you need the other person's bank account/sort code to put the money into. Which works, but I do always feel nervous that I've transposed a number or something similar.
If the banks had moved to a system more like yours people would probably be very happy.
Here in the UK we are in the unusual position of receiving free personal banking. It's a historical thing, and the banks do keep on muttering about bringing in fees, but essentially all bank accounts and the corresponding cheques, electronic transfers etc. are completely free.
There are fees if you go overdrawn or something, but no fees for everyday banking.
It really depends on the bank and the account, in Canada. Most of them have a nominal fee that is then waived if the amount in the account stays reasonably high, and then charge you per-use for things that the plan doesn't cover. It's like a cellphone contract - texts are pay-per-use unless you have a texting plan, calls are X per minute or Y minutes free per month, data is $stupid per KB but you get a certain amount free per month, etc.
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But it's EXTREMELY convenient, and if you get money transfers with your plan and the recipient uses the same bank, that's no charge at all, and at no time do you need to know anything except the email address of the recipient, and at no time do *they* need to know anything except the answer to the question you asked.
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If the banks had moved to a system more like yours people would probably be very happy.
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There are fees if you go overdrawn or something, but no fees for everyday banking.
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Half the time I sign in I get a banner recommending I move to an Ultimate Personal Reward account.