I paid someone using Interac Email transfer (Canada), can it be reversed?

Question

The guy who i paid to, may be a fraudster, he has not shipped my goods yet, can i call the bank and reverse the transfer? Anyone please help, any other step i can take?- I am in toronto

Answer 1

If it has been cashed, then unfortunately no.  It is treated just like a cheque written on an regular account,  With a regular cheque, YOU wrote it, so you can only cancel it by making a stop payment BEFORE it is cashed.  With an email money transfer, YOU sent it and you can only cancel it before it is accepted.  Otherwise, you are out of luck.

If it has been cashed, you could take this fraudster to small claims court.