Looks like Alterna Bank's chequing account, which currently offers 2 free Interac e-Transfers per month, will offer unlimited e-Transfers starting June 1, 2018: https://www.alternabank.ca/Personal/EverydayBanking/Access/OnlineBanking/InteracETransfer/
May 3, 2015
November 19, 2014
October 21, 2013
December 12, 2009
Thanks, Peter. I noticed this a couple months ago, but didn't get a chance to post it as I was finishing up with my spring 2018 semester for my library technician program. To that list, I would add, Coast Capital Savings, are you listening?
I think it's incumbent upon the virtual banks and credit unions to offer at least one (1) of: (a) unlimited free cheque books or one free book of 100 cheques per year or (b) unlimited Interac e-Transfers. It's really the only downside to Coast Capital Savings, well that and the lack of bank-to-bank transfers.
Banks and credit unions now offering unlimited free Interac e-Transfers and a free chequing or chequing-like (i.e., no cheques but free debits) account:
- Simplii Financial, a division of CIBC
- Alterna Bank
- EQ Bank* (*no debit card transactions and a limit of five (5) free Interac e-Transfers per month, though I suspect this may change in light of this)
- HSBC Bank Canada** (**requires a minimum of $25,000 in investment assets or deposits or $150,000+ mortgage value, as part of HSBC Advance banking and wealth proposition)
Let me know if I'm missing any.
The "Big 5" banks all offer some variation of unlimited free Interac e-Transfers, but their chequing accounts either require a minimum monthly balance to waive the monthly fee or holding multiple banking products (i.e., mortgage and a credit card). Also, Tangerine, to its credit, offers free Email Money Transfers that use the EFT system. They aren't instant, but usually deposit next day and within 1-2 business days.
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