When you transfer money between your bank account and your goPeer account, the transaction is processed using Electronic Funds Transfer (EFT), the national system used by all Canadian banks and financial institutions.
EFTs are secure but not instant. They are processed in batches through Payments Canada, which means transfers typically take 1–3 business days to complete, depending on your bank and the time of day the transfer was initiated. Weekends and holidays can also cause additional delay, as banks only process EFTs on business days.
This timing is not specific to goPeer, it’s the same for all institutions in Canada using EFT. Payments Canada is currently developing a new real-time payments system, called the Real-Time Rail (RTR), which will allow for instant transfers once launched.
Until then, goPeer continues to process your transfers as quickly and securely as possible under Canada’s current banking infrastructure.