Interac e‑Transfer
Interac e‑Transfer is Canada's nationwide service for sending and receiving money electronically between personal and business accounts. It works through your bank or credit union's online banking or mobile app and typically deposits funds within minutes.
How It Works
- Log in to your bank's online or mobile platform.
- Select "Interac e‑Transfer" and choose the recipient's email or phone number.
- Enter the amount and (if required) a security question.
- Send. Your bank notifies the recipient; they follow the link to deposit funds.
Some banks use auto‑deposit, so recipients skip the security question. Transfers are protected by secure channels.
Where to check fees and personal limits
| Institution | Fee per Transfer | Daily Limit | How to Verify |
|---|---|---|---|
| Royal Bank of Canada | Check current account terms | Check your personal limit in the app | Official provider website |
| TD Canada Trust | Check current account terms | Check your personal limit in the app | Official provider website |
| Bank of Montreal | Check current account terms | Check your personal limit in the app | Official provider website |
| Scotiabank | Check current account terms | Check your personal limit in the app | Official provider website |
| Canadian Imperial Bank of Commerce | Check current account terms | Check your personal limit in the app | Official provider website |
| National Bank of Canada | Check current account terms | Check your personal limit in the app | Official provider website |
| Tangerine | Check current account terms | Check your personal limit in the app | Official provider website |
| Simplii Financial | Check current account terms | Check your personal limit in the app | Official provider website |
| EQ Bank | Check current account terms | Check your personal limit in the app | Official provider website |
| Neo Financial | Check current account terms | Check your personal limit in the app | Official provider website |
| KOHO | Check current account terms | Check your personal limit in the app | Official provider website |
| PC Financial | Varies by account | Varies | Contact PC Financial |
| motusbank | Varies by account | Varies | Contact motusbank |
| Alterna Bank | Varies by account | Varies | Contact Alterna Bank |
| Meridian Credit Union | Check account terms | Check personal limit | Contact Meridian |
| Coast Capital Savings | Varies by account | Varies | Contact Coast Capital |
| Vancity | Varies by account | Varies | Contact Vancity |
| Servus Credit Union | Varies by account | Varies | Contact Servus |
| Conexus Credit Union | Varies by account | Varies | Contact Conexus |
| Desjardins | Varies by account | Varies | Contact Desjardins |
| FirstOntario Credit Union | Varies by account | Varies | Contact FirstOntario |
| Libro Credit Union | Varies by account | Varies | Contact Libro |
| DUCA Credit Union | Varies by account | Varies | Contact DUCA |
Comprehensive Security Information
Multi-Layer Security
- Encryption: All e‑Transfers use bank-level encryption during transmission
- Authentication: Requires your online banking credentials to send
- Authorization: Optional security questions add an extra layer
- Monitoring: Banks monitor for suspicious activity patterns
- Time Limits: Check the expiry shown in your provider’s notice; confirm return timing with the institution
Advanced Features by Institution
Auto-Deposit
Many banks now offer auto-deposit for e‑Transfers, which eliminates the need for security questions and deposits funds automatically. Available at most major banks including RBC, TD, BMO, Scotiabank, CIBC, and digital banks.
Recurring e‑Transfers
Some institutions allow you to schedule recurring e‑Transfers for regular payments like rent or allowances. Check with your bank's online banking platform for availability.
Mobile Integration
Most banks now support sending e‑Transfers directly through their mobile apps with enhanced features like contact integration and photo messaging.
Frequently Asked Questions
How long does an e‑Transfer take?
Usually minutes when using auto-deposit. Manual deposits may take longer if the recipient needs to answer a security question. Delays can occur if the recipient's bank holds the deposit for security review.
Are e‑Transfers safe?
Yes. Interac e‑Transfer uses secure encryption and does not share your financial information with the recipient. The service is backed by Interac's security infrastructure.
What if the recipient never accepts the transfer?
Read the expiry date and return instructions shown by your financial institution. Pending, expired and deposited transfers have different cancellation or return rules; a return is not assumed to be immediate.
Can I send money internationally with e‑Transfer?
No. Interac e‑Transfer only works within Canada between Canadian bank accounts. For international transfers, you'll need a different service.
Does the recipient need the same bank as me?
No. E‑Transfers work between any participating Canadian financial institutions. The recipient just needs a Canadian bank account with online banking.
What happens if I send to the wrong email or phone number?
Contact your bank immediately. If the transfer hasn't been accepted, they may be able to cancel it. If it's already accepted by someone else, recovery becomes much more difficult.
Are there daily or monthly limits on e‑Transfers?
Yes, most banks set daily and sometimes monthly limits. These vary by institution and account type. Check with your bank for your specific limits.
Can I schedule recurring e‑Transfers?
Some banks offer this feature, but it's not universally available. Check your bank's online banking platform or mobile app for scheduling options.
Institution-Specific Guides
Big 6 Banks
Digital Banks
Credit Unions
- Desjardins e‑Transfer guide
- Meridian e‑Transfer guide
- Vancity e‑Transfer guide
- Coast Capital e‑Transfer guide
- Servus e‑Transfer guide