Yes, Interac e-Transfers have daily and cumulative limits that vary by financial institution and account type. For personal accounts, daily limits often range from $3,000 to $5,000 CAD, with 7-day limits usually around $10,000 and 30-day limits up to $20,000 or more. Business accounts often have higher limits, sometimes up to $25,000 per transaction.
Sending e-transfers:
Maximum per transfer sending limit: $6,000. Daily rolling* sending limit: $10,000. Cumulative maximum 7 day rolling sending limit: $10,000. Cumulative maximum 30 day rolling sending limit: $20,000.
The maximum amount you can send by Interac e-Transfer® is $4,000 per 25-hour period and $14,000 per 7-day period. The maximum amount you can send by international transfer online is $10,000 per transfer. Ready to make a transfer? Send an Interac e-Transfer®.
e-Transfer sending limits
By default, you can send an e-Transfer of up to $5,000 a day. Here are the default daily, weekly, and monthly sending limits: Per day (24 hours): CAD $5,000.
To send money with Interac e-Transfer Bulk Payables, here's what you need to do:
If you're sending a large amount of money, you may want to use a wire transfer at your bank. You'll need the recipient's account and routing numbers. You and the recipient will likely incur fees. Wire transfers take place in less than 24 hours but do not occur on weekends or on bank holidays.
Interac e-Transfer transactions are sent immediately but could take up to 30 minutes depending on the sender's financial institution.
Banks with higher daily limits:
Any transfer over $10,000 triggers a Currency Transaction Report (CTR) to FinCEN, but this doesn't mean you owe taxes — it's just for monitoring purposes. However, if the transfer represents income, a taxable gift, or a business transaction, you must report it when filing your taxes.
For a temporary increase to your Interac e-Transfer limit, give us a call at 1-800-472-6842. To make a permanent change to your limits, please visit your home branch. If you're unsure which branch is your home branch, you can find its address at the top of your statements.
Yes, you can transfer money from a US bank to a Canadian bank using international wire transfers through your bank, or by using third-party services like Wise, Remitly, or Western Union, which often offer faster speeds, better exchange rates, and lower fees, with options like SWIFT codes or email transfers. Key info needed typically includes the recipient's name, bank name, SWIFT/BIC code, account number, and address, with some banks offering instant transfers between linked US/Canadian accounts (like RBC or TD).
Banks must report cash deposits of more than $10,000. Banks may also choose to report suspicious transactions like frequent large cash deposits. Large cash deposit reporting regulations exist to catch fraud and illegal activity. You may incur a fine or penalty if the bank reports your deposit before you do.
Interac e-Transfer (formerly Interac Email Money Transfer or EMT) is a Canadian funds transfer service between personal and business accounts in participating Canadian banks and other financial institutions, offered through Interac Corporation.
The maximum you can send is $5,000 per transfer, per 24-hour period. You can receive up to $25,000 per transfer.
Safely send up to $25,000* per e-Transfer in real time - without needing your recipient's banking information. Funds are automatically and securely deposited into your preferred account when you set up Autodeposit.
You can transfer large amounts of money, but transactions over $10,000, especially in cash or structured deposits, trigger mandatory reporting (like IRS Form 8300 or Bank Secrecy Act (BSA) reports), not necessarily taxes, to fight money laundering. Banks file reports for cash over $10k (CTR) or suspicious activity (SAR) if they see patterns to avoid reporting (structuring), which can flag accounts even for smaller amounts like $200 if part of a pattern.
Frequently Asked Questions: Transferring money internationally. If you're a US expat, banks must report transfers over $10,000 to FinCEN. Plus, if your total foreign account balances exceed $10,000 at any time during the year, you must file an FBAR.
It's generally not fully safe to keep $500,000 in one bank account because the standard FDIC insurance limit is $250,000 per depositor, per bank, per ownership category, meaning $250,000 is at risk if the bank fails. To fully protect the entire $500,000, you need to structure it across different ownership categories (like single, joint, trust accounts) or use multiple banks to spread the funds, leveraging separate $250,000 coverage for each.
Increased Security
ACH transfers are more secure than paper checks because they are electronic and do not require physical transportation or handling. Paper checks can be easily intercepted or altered in transit, but ACH transfers are encrypted and processed through secure networks.
If you register and activate your email address at one financial institution, then later register and activate the same email address at another financial institution, the email address at the first financial institution will be deactivated, automatically allowing funds to be sent to the second financial institution ...