The complete guide to sending and receiving Interac e-Transfers in Canada, including daily limits, fees by bank, and how to use Autodeposit.
Interac e-Transfer is Canada's most popular way to send money between bank accounts. Operated by Interac Corp., it allows any Canadian with online banking to send funds directly to another person's email address or phone number — typically arriving within minutes to a few hours.
Over 1 billion e-Transfers are sent in Canada each year. It's built into virtually every Canadian bank, credit union, and fintech app.
Limits vary by financial institution. Here's how the major banks compare:
| Bank / Institution | Daily Send Limit | Weekly Limit | Monthly Limit |
|---|---|---|---|
| TD Bank | $3,000 | $100 | $20,000 |
| RBC | $3,000 | $100 | $20,000 |
| Scotiabank | $3,000 | $100 | $20,000 |
| BMO | $2,500–$3,000 | $100 | $20,000 |
| CIBC | $3,000 | $100 | $20,000 |
| Tangerine | $3,000 | $100 | $20,000 |
| EQ Bank | $3,000 | $100 | $20,000 |
| KOHO | $3,000 | $100 | $20,000 |
| Simplii Financial | $3,000 | $100 | $20,000 |
Note: Higher limits may be available by calling your bank. Business accounts often have higher limits.
| Bank | Send Fee | Receive Fee | Notes |
|---|---|---|---|
| RBC, TD, CIBC, BMO, Scotiabank | $1.00–$1.50 | Free | Free on unlimited plans |
| Tangerine | Free | Free | Always free |
| Simplii Financial | Free | Free | Always free |
| EQ Bank | Free | Free | Always free |
| KOHO | Free | Free | Always free |
| Credit Unions | Varies | Free | Check with your CU |
The recipient gets an email or text notification with a link. They log in to their bank and deposit the funds. With Autodeposit enabled, the money goes directly — no security question needed.
Autodeposit automatically deposits incoming e-Transfers directly to your account without requiring you to answer a security question. It's faster, more convenient, and reduces the risk of funds being redirected by fraud.
To enable Autodeposit: go to your bank's e-Transfer settings and register your email or phone number for Autodeposit. Most major banks support it.
You can also request money from someone else by entering their email and the amount. They receive a notification and can pay you directly from their bank account. This is useful for splitting bills, collecting rent, or invoicing clients.
Interac e-Transfers are generally secure, but fraud does occur. Key safety tips:
| Feature | e-Transfer | Wire Transfer |
|---|---|---|
| Cost | Free–$1.50 | $15–$50 |
| Speed | Minutes–hours | Same day–2 days |
| Limit | Up to $3,000/day | Much higher |
| International | No (Canada only) | Yes |
| Best for | Everyday transfers | Large or international |
Most e-Transfers arrive within 30 minutes. In some cases they can take up to a few hours depending on the recipient's bank. With Autodeposit enabled, transfers often clear within minutes.
Yes — you can cancel a pending e-Transfer before it's accepted. Log into online banking, find the pending transfer, and select "Cancel." Once deposited, transfers cannot be reversed.
Most Canadian banks set the daily limit at $3,000 and the weekly limit at $100. Some banks may increase limits if you call and request a higher limit.
Yes, Interac uses 256-bit encryption and multi-layered fraud detection. However, social engineering scams (fake buyers, landlords) are common. Only send money to people you know.
No. Interac e-Transfer only works within Canada. For sending money to the US, consider Wise, PayPal, or a wire transfer.
e-Transfers expire after 30 days if unclaimed. The money is automatically returned to your account. You can resend it any time.