How to Record an Alberta Security Deposit Paid by e-Transfer

To record an Alberta security deposit paid by Interac e-Transfer, keep a dedicated deposit-ledger entry linked to the tenancy agreement, completed transfer, trust-account deposit, receipt, inspection reports, interest history, and final return or deductions. Record the amount, payer, rental unit, payment date, status, Interac reference, trust deposit date, and every later movement without treating the deposit as ordinary rent.

Alberta commonly calls a security deposit a damage deposit. The e-Transfer method does not change the province’s maximum, trust-account, interest, inspection, or return rules.

What Are the Alberta Rules for a Security Deposit?

The Alberta government’s current starting-a-tenancy guidance says:

• A security deposit cannot be more than one month’s rent at the time the tenancy starts.
• It cannot be increased during the tenancy, even if rent rises.
• A tenant can ask for a receipt showing the amount paid, date, and parties to the transaction.
• A landlord must put the deposit in an interest-bearing trust account at a bank, treasury branch, credit union, or trust company in Alberta within two banking days after collecting it.

The province sets a minimum interest rate each calendar year. The Alberta annual-rate page lists the rate for January 1 to December 31, 2026 as 0%. That does not erase interest from earlier years or set a future rate. Check each period in the tenancy.

These rules apply to tenancies covered by Alberta’s Residential Tenancies Act. Mobile-home sites and exempt arrangements can follow different legislation or details. For a dispute or unusual tenancy, use Alberta’s current guidance or obtain legal advice.

What Should an Alberta Deposit Ledger Include?

Create one ledger for each tenancy. Include:

• Property address and unit
• Tenant and co-tenant names
• Name displayed on the e-Transfer, if different
• Tenancy start date and rent at the start
• Deposit amount requested and amount actually received
• e-Transfer date, final status, and reference number
• Date the bank confirmed receipt
• Trust-account name and deposit date
• Receipt number and issue date
• Move-in and move-out inspection dates
• Inspection-report delivery dates
• Interest period, calculation, and payment or compounding method
• Tenant’s written forwarding-address date
• Deductions, supporting estimates or invoices, and statement dates
• Amount and date returned, with the outgoing e-Transfer reference
• Remaining balance and date the ledger closed

Keep the tenancy agreement, transfer notifications, bank evidence, trust-account record, inspection reports, photographs, correspondence, estimates, invoices, statements of account, and return confirmation with the ledger.

How Do You Record an Alberta Deposit From Receipt to Return?

1. Confirm the tenancy, rent, and lawful amount

Start with the written tenancy agreement. Confirm the rental unit, tenant, tenancy start date, monthly rent at the start, amount requested, and purpose.

Alberta says the maximum is based on one month’s rent when the tenancy starts and cannot later increase with rent.

Keep ordinary rent and the security deposit separate even if the tenant sends both on the same day. One is a recurring payment; the other is money the landlord holds in trust under the provincial rules.

2. Capture the e-Transfer and confirm settlement

Record the displayed payer, amount, date, status, and Interac reference when available. Then open the financial institution through its known app or website and confirm that the money reached the intended account.

An email does not establish the tenancy terms or prove settlement. If the transfer is pending, declined, cancelled, expired, or replaced, follow the e-Transfer status workflow. Keep the balance open until it is confirmed.

If a roommate, parent, employer, or another person sends the money, preserve both the displayed payer and tenant names. Add a note explaining the relationship rather than changing the transfer record.

3. Move the money to the trust account on time

Record the date the landlord collected the deposit and the date it entered the required Alberta interest-bearing trust account. The provincial guidance sets a two-banking-day deadline.

Link the incoming transfer and trust-account movement without counting two deposits. If it arrived directly in trust, preserve evidence identifying the account and tenancy.

TransferLog does not access bank accounts or verify trust handling. The landlord must confirm the account, timing, and compliance independently.

4. Give the tenant a clear receipt

Alberta says a tenant can ask for a receipt showing the amount, date, and parties. A useful receipt also identifies the unit, purpose, payment method, and landlord.

The Interac notification is not a complete substitute for the landlord’s receipt. It may not identify the unit, tenancy, deposit purpose, or party holding the money in trust.

Keep sensitive bank or identity details off the tenant-facing receipt. The internal ledger can hold the Interac reference needed to distinguish the payment.

5. Complete and preserve the inspection reports

Alberta’s during-a-tenancy guidance says move-in and move-out inspection reports are mandatory. It also says a landlord cannot deduct damage or cleaning costs from the security deposit when the inspection-report requirements have not been met.

Record when each inspection occurred, who attended, and when the signed report was delivered. Keep photographs, repair evidence, and correspondence where relevant.

The payment record does not prove the unit’s condition. Do not use an e-Transfer email or deposit ledger as a substitute for the required inspection process.

6. Track interest for every calendar period

For each year, record the applicable provincial rate, principal, calculation period, interest amount, and whether it was paid annually or compounded under a written agreement.

The official 2026 rate is 0%, but 2024 and 2025 had positive minimum rates. A tenancy spanning several years therefore needs a year-by-year record. Use Alberta’s current security-deposit interest calculator rather than assuming one rate applies for the whole tenancy.

Do not overwrite historical interest when the annual rate changes.

7. Reconcile the deposit during the tenancy

At least annually, compare the deposit ledger with:

• The trust-account balance and bank records
• The tenancy agreement
• Receipts issued
• Interest calculations and payments
• Tenant and unit identifiers

Investigate a deposit with no matching trust-account entry, a trust balance with no tenancy, an amount that changed after a rent increase, or a transfer allocated to the wrong property.

8. Return or account for the deposit after move-out

The Alberta government’s ending-a-tenancy guidance says that when there are no deductions, the landlord must return the full deposit plus interest within 10 days after the tenant gives up possession.

When there are deductions, the same guidance says that within 10 days the landlord must either return any balance with a statement of account listing the deductions or give an estimate and return the amount that will not be used. A final statement and any money owing must then be provided within 30 days after the tenancy ends.

Record the possession date, forwarding address, inspection, deductions, supporting documents, statement dates, balance returned, interest, and outgoing reference. Do not alter the original incoming transfer.

If the tenant disputes a deduction, preserve the full record and use Alberta’s dispute-resolution process or legal advice. TransferLog cannot decide whether a deduction is lawful.

How Should You Handle Common Alberta Deposit Edge Cases?

The tenant sends rent and the deposit together

Preserve the original transfer total, then allocate the exact portions to ordinary rent and the security-deposit ledger. The allocations must add back to the completed transfer.

Several tenants pay parts of one deposit

Keep each transfer as a separate row with its own payer and reference. Link all completed payments to the same tenancy and show the combined deposit balance without exceeding the lawful amount.

The transfer arrives before the tenancy starts

Record the actual collection date. The two-banking-day trust-account timing runs from collection, not from move-in. Confirm the agreement and refund terms rather than leaving the money unidentified.

The return is sent by e-Transfer

Create a separate outgoing record with the tenant, amount, date, status, and new reference. Confirm the recipient through a trusted channel and verify completion in the bank. A sent notice alone does not prove the tenant received the return.

Is an e-Transfer Confirmation Enough Proof of the Deposit?

It is one useful record, but not the complete file. The tenancy agreement identifies the parties and terms; bank and trust records confirm the funds; the receipt acknowledges collection; inspection reports document condition; and the interest, statement, and return records explain the balance. Keep them connected.

How TransferLog Helps Organize Alberta Deposit Notifications

TransferLog organizes details found in supported Interac e-Transfer notification emails from connected Gmail, Outlook, and iCloud inboxes. Landlords and property managers can search and filter records, assign categories, and export CSV or PDF on the Pro plan.

Use the export for the notification side of the ledger, then match it to the tenancy, receipt, trust records, inspections, interest, and return.

TransferLog does not hold trust money, access bank accounts, issue legal receipts, calculate security-deposit interest, complete inspection reports, or decide lawful deductions. For monthly payments, use the rent e-Transfer tracking workflow.

Deposit rules vary by province. Use the separate workflows for an Ontario last month’s rent deposit or a B.C. security and pet damage deposit.

Official Sources

• Alberta: Starting a tenancy and security deposits
• Alberta: Move-in and move-out inspection reports
• Alberta: Ending a tenancy and returning security deposits
• Alberta: Annual security-deposit interest rate
• Alberta: Security-deposit interest calculator
• Interac e-Transfer help

This article provides general record-keeping information, not legal, tax, or accounting advice.

Organize Alberta security-deposit notifications with TransferLog. Start free, then reconcile the export with your tenancy, trust, inspection, and bank records.