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Why is the Interac e-Transfer Security Question important, and how do I create one that is effective?
The Security Question is important because it is used to authenticate the recipient of the transfer.
If the recipient has not set up Autodeposit on the email or mobile number used for the transfer, a Security Question and Answer must be created by the sender and the recipient must correctly answer the Security Question to receive the funds.
If the question cannot be answered correctly, the sender will be notified via email, the recipient will not be able to collect the funds and the funds will be deposited back into their account.
The following guidelines should be used when creating a strong security question and answer:
DO select a question and answer that is a shared secret between you and the recipient. It must be kept confidential at all times.
DO contact the recipient over the phone or in person to ensure s/he knows the answer and the correct spelling of the word.
DO make the answer hard to guess. Keep in mind it may be between 3 and 23 letters and/or numbers in total. Special characters, such as @, #, $ cannot be used.
DON'T select a question that can be answered by 'Yes' or 'No'.
DON'T select a question that can be answered by doing research, such as a recent news event, sports event, geographic location, family name or names of relatives, birthdate etc.
DON'T select a question where the odds are that it could be correctly answered with a few guesses
DON'T include the Security Question and/or Answer in the 'Message' field of the 'Send Money' transaction
DON'T communicate the Security Question and/or Answer electronically (e.g. email, text, social media, etc.).
DON'T use the same Security Question and Answer for all your recipients