You must have online banking for it to work also.
Email confirmation is sent and they have to enter the correct answer to a password question that you set before they can get the money.
Took less than five minutes to set up and less than five minutes to send the payment.
You have to have an account at one of the five major banks in Canada to use it and it only works in Canadian funds.
Transfer amounts have to be between $10-$2000.
The cost is a flat fee of $1.50 to the sender and it is free to receive them.
Sounds like a great alternative to paypal(the blood suckers) for us Canadian guys.
You should check it out.