Many account-to-account systems let you send money to something memorable, an email, a phone number, or a username, instead of a routing and account number. Behind that convenience sits an alias directory: a registry that maps each alias to the underlying account so the system knows where to send the payment. It answers WHO, not how much or when. The directory resolves the destination; the actual money still moves over the underlying rail between banks.
In a flow
When someone sends an Interac e-Transfer to an email registered for Autodeposit, the alias directory resolves that email to the recipient's account and the money is deposited automatically; without Autodeposit, the email is just where the notification goes, and the recipient picks the deposit account when they claim the transfer. Either way, the value itself settles between the banks over the underlying rail.
Common misconceptions
Myth: The alias directory holds your money or moves it.
Reality: It only stores the mapping from an alias to an account. It's a routing lookup; the actual funds move bank-to-bank over the underlying payment rail and settle there, not in the directory.
Myth: An email or phone number alias is a new kind of account.
Reality: The alias is just a friendly label pointing at a normal bank account. Resolving the alias reveals the real account that gets credited.
Related terms
See it in a guide
Sources
- Interac e-Transfer ↗ · Interac (operator). Send to an email or phone number; alias resolves the recipient.
- Unified Payments Interface (UPI) ↗ · NPCI (operator). Virtual payment addresses map to bank accounts in UPI.
- Pix ↗ · Banco Central do Brasil. Pix keys (phone, email, tax ID) resolve to accounts via a central directory.
Educational, plain-English explainers. Not legal, compliance, tax, or financial advice. These cover fundamentals, not current fees, limits, or rates (which change). Rails and parties vary by program and country, so verify specifics against primary sources. Last reviewed June 2026.