As a FINTRAC registered money services business, we are required to identify our customers and understand where funds are coming from. As a result, we require the name on the sending bank account for e-Transfers to match the name on your Newton account, with some affordances for nicknames/minor spelling differences. For some users, this may require a one-time whitelisting process.
Common reasons for a name mis-match include but are not limited to:
- Adopted a different name in English
- Joint accounts
- Adopted a partners surname
- Funding via a business account
Note: If funds are sent from a bank account that is not connected in any way to a verified Newton customer, those funds will be held until the owner of the bank account has been verified or disputes the e-Transfer with their bank. We cannot legally accept funds from people who have not been verified with us.