Autodeposit is an Interac e-Transfer feature that allows users to register to have incoming Interac e–Transfer funds deposited directly into their bank account – no security question and answer needed.
Basically, you register your e-mail to deposit your commission to your account at your bank. This way, you avoid answering password questions and selecting banks for the deposit. It also means you have access to your money right away.
But more importantly, it avoids the possibility of e-transfer theft.
Intercepted e-Transfers and why they are a problem
When an e-transfer is sent to an email address without autodeposit, there is a notification sent to accept the funds by asking for a password.
How could someone else accept this transfer?
This could possibly happen is if your e-mail is compromised or there is spyware or malware on one of your devices that have access to the e-mail. The Bad Guys will check those e-mails regularly to see if they have a chance to steal your money. It's especially easy when the sender puts the password in the message field, or make the question too easy to answer. They can also ask the sender to reply with the password in an email.
For these reasons, Karma Realty will never send you your password in an email.
As a reminder, We strongly recommend that you enable Interac e-Transfer autodeposit with your bank. Karma Realty will not be held liable for any funds lost to e-Transfer theft.
For more information on Interac e-Transfer Autodeposit, please visit Interac