There are multiple secure and convenient ways to add money to your Canadian money account with Beacon.
Choose the option that works best for you.
1. Salary Direct Deposit (Payroll)
You can have your salary deposited directly into your Beacon Money account — fast and securely.
How to set it up:
Open the Beacon app
Go to Beacon Money
Tap Account Details
Download your Void Cheque
Share it with your employer’s payroll department
Your salary will follow your employer’s regular payroll schedule.
There are no additional fees from Beacon for receiving salary deposits.
2. Government Payments & Tax Refunds
You can receive:
CRA tax refunds
Child benefits
GST/HST credits
Other Canadian government payments
To set it up:
Use your Beacon void cheque to update your direct deposit information with the relevant government agency.
Processing timelines depend on the issuing government department.
3. Receive Money via Interac e-Transfer
Interac e-Transfer is one of the fastest ways to receive money in Canada.
Your Beacon Money account comes with Autodeposit enabled, so you don’t need to answer security questions.
How it works:
Share your Beacon Interac email with the sender
The sender sends the transfer from their Canadian bank
Funds are deposited automatically
How long does it take?
Most e-Transfers arrive within minutes
First-time transfers or high-value transfers may be temporarily held by the sending bank
Bank-side reviews can take 30–60 minutes, and in rare cases longer
Even if the sender sees “Sent,” their bank may still be verifying the transaction.
Beacon does not place manual holds on incoming e-Transfers. Funds are deposited as soon as the sending bank releases them.
If your transfer hasn’t arrived after 60 minutes, contact your sending bank and ask them to release the transfer.
4. Add Money from Your Canadian Bank (Request for Money)
You can securely transfer money from your Canadian bank into your Beacon Money account using Request for Money.
This is helpful when you want to move funds yourself instead of asking someone to send you an e-Transfer.
Steps:
Open the Beacon app
Go to Beacon Money → Add Money
Enter the amount (minimum $10, maximum $25,000 per request)
Select your financial institution
Log in through the secure bank window
Approve the transfer
Processing time:
Most transfers arrive within 30–40 minutes
Some banks may hold the transfer for review, especially if:
It’s your first time adding money
The amount is large
Your bank flags it for security verification
In rare cases, processing may take longer depending on your bank.
Beacon does not delay these transfers once approved by your bank.
5. International Wire Transfer (SWIFT)
Need to receive money from abroad? Use the International Money Transfer feature in the Beacon app (powered by Currencycloud) to get funds from overseas sent straight to your Beacon account—securely and without unnecessary delays.
Currently, this service is available for users with Canadian or Indian address, making it especially useful for students, newcomers, or anyone in Canada with family or business ties there.
Steps:
Open the Beacon app
Go to Beacon Money → Add Money → International Money Transfer
Complete the required questions
You’ll receive your personalized SWIFT details
Use those details at your bank to initiate the transfer
How long does it take?
International wires typically arrive within 5–7 business days.
However, timelines may vary depending on:
Sending country
Intermediary banks
Currency conversion processing
Compliance reviews
Wire transfers may involve intermediary bank fees depending on your sending bank
7. Cash Deposit (Coming Soon)
At this time, cash deposits are not available.
We are actively working with partners to enable this feature in the future.
If you would like to be notified once cash deposits are available, contact us at [email protected].
Important Notes About Processing & Security
To keep your money safe, some transfers may be reviewed for security and compliance reasons.
This may happen if:
The transfer amount is unusually high
It’s your first transaction
Your bank flags the transaction
Additional verification is required
In most cases, transfers are completed quickly. However, timelines provided above are best-case estimates and may vary depending on your bank and regulatory requirements.
If you believe a transfer is delayed beyond the expected timeframe, contact:
Your sending bank first
Then email us at [email protected] if the issue persists