Interac e-Transfer in Canada: Complete Guide (2026)
Interac e-Transfer is one of the most used banking features in Canada — and one of the first things newcomers learn to use. It lets you send money to anyone in Canada who has a Canadian bank account, just by using their email address or phone number. This guide explains exactly how it works, how to stay safe, and everything a newcomer needs to know.
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What Is Interac e-Transfer?
Interac e-Transfer is a Canadian payment system operated by Interac Corp that lets you send money from your bank account to another person's bank account using just their email address or phone number. Unlike international wire transfers, e-Transfer is:
- Almost always free (included in most Canadian bank accounts)
- Fast (usually delivered within minutes, sometimes instantly)
- Available 24/7
- Works between any two Canadian banks or financial institutions that participate
- Limited to Canadian accounts only (not for international transfers)
How to Send an e-Transfer
1
Log into your bank's mobile app or online banking
2
Find "Interac e-Transfer" or "Send Money" (usually in the Transfers or Payments section)
3
Add the recipient — enter their email address or phone number (they must have a Canadian bank account)
4
Enter the amount you want to send
5
Create a security question and answer (unless they use Autodeposit)
7
Confirm and send — the recipient gets an email or text notification
How to Receive an e-Transfer
When someone sends you an e-Transfer:
- You receive an email or text notification
- Click the link in the notification
- You'll be redirected to the Interac website
- Select your bank from the list
- Log into your bank and answer the security question (if one was set)
- Choose which account to deposit the money into
- The money appears in your account within seconds to minutes
Autodeposit — Skip the Security Question
Autodeposit is a feature that automatically deposits incoming e-Transfers into your account without requiring you to answer a security question. It's more convenient and actually more secure (less risk of phishing). To set it up:
- Go to your bank's e-Transfer settings
- Find "Autodeposit" or "Register email/phone"
- Register your email address or phone number
- Anyone who sends an e-Transfer to that email/phone will have it automatically deposited
Most Canadians now use Autodeposit. Setting it up is highly recommended.
e-Transfer Limits by Bank
| Bank | Per Transfer Limit | Daily Limit | Weekly Limit |
|---|
| TD | $3,000 | $3,000 | $100 |
| RBC | $3,000 | $3,000 | $100 |
| Scotiabank | $3,000 | $3,000 | $100 |
| BMO | $3,000 | $3,000 | $100 |
| CIBC | $3,000 | $3,000 | $100 |
| KOHO | $2,500 | $2,500 | $100 |
| Tangerine | $3,000 | $3,000 | $100 |
For larger amounts, contact your bank — most will temporarily increase limits for verified customers.
e-Transfer Security — What to Watch Out For
Never share your security question answer via email or phone. Interac will never ask for your security question answer in an email. If a transfer is taking too long and someone calls you asking for the answer — that's a scam.
- Never accept transfers from strangers (employment scams often involve e-Transfers)
- Once accepted, e-Transfers cannot be reversed — only send to people you know
- Use Autodeposit to reduce phishing risk
- Make sure you have the correct email address before sending
- Common scam: Someone sends you an e-Transfer, tells you to forward it to a "third party" — this is money laundering
Common Uses for e-Transfer in Canada
- Paying rent: Many landlords accept e-Transfer. Way easier than cash or cheque.
- Splitting bills: Restaurant, utilities, or household expenses with roommates
- Paying friends back: Split cost of gifts, events, etc.
- Marketplace purchases: Facebook Marketplace, Kijiji sellers often accept e-Transfer
- Request Money: Many banks let you request e-Transfer from someone (they receive a request, not a transfer)
Rent Payment Tip: Set up a recurring e-Transfer for rent so you never miss a payment. Most Canadian banks allow you to schedule e-Transfers in advance. This also helps build good payment habits that benefit your credit score over time.
e-Transfer vs. Wire Transfer vs. EFT
- e-Transfer: Canadian domestic, personal, fast, usually free, $3,000 limit per transfer
- Wire Transfer: Domestic or international, business/large amounts, $15-25 fee, used for large payments
- EFT (Electronic Funds Transfer): Used for payroll direct deposit and pre-authorized payments (like insurance, subscriptions)
Related Guides
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