EFT limits | EQ Bank | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

sp_Feed Topic RSS sp_TopicIcon
February 14, 2019
10:12 am
commonboy
Member
Members
Forum Posts: 10
Member Since:
February 14, 2019
sp_UserOfflineSmall Offline

Their FAQ says there's a $30,000 outbound EFT limit to a linked external bank per transaction, but what happens if I initiate an outbound transfer of more than $30K FROM the external bank? Can I get around the limit this way?

February 15, 2019
5:50 pm
Doug
British Columbia, Canada
Member
Members
Forum Posts: 4201
Member Since:
December 12, 2009
sp_UserOfflineSmall Offline

Yes, it should be fine, provided your external bank account has transfer limits within that range. EQ Bank does have a maximum balance limit, though, for accounts opened after a certain period of time, so be careful not to transfer in to EQ Bank from your external bank account an amount that exceeds that limit or it likely will be refused. But otherwise, you should be fine. 🙂

Cheers,
Doug

February 15, 2019
11:47 pm
Loonie
Member
Members
Forum Posts: 9213
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

It's a per transaction limit, not per day. I did several transactions in one day last September to circumvent the rule. As far as I know, this is still possible.

February 16, 2019
4:33 am
Kidd
Member
Banned
Forum Posts: 840
Member Since:
February 27, 2018
sp_UserOfflineSmall Offline

I found Outlook had very restrictive eft withdrawal limits. How i got around it. I wrote myself a cheque (a me to me cheque). A 5 business day hold was placed on the cheque but the funds were where i wanted them.

February 16, 2019
5:39 am
Top It Up
Member
Members (temp break)
Forum Posts: 1363
Member Since:
December 17, 2016
sp_UserOfflineSmall Offline

Kidd said
I wrote myself a cheque (a me to me cheque).  

That's my go-to method as well - cut the cheque and deposit it using the FIs smartphone app - done.

February 16, 2019
3:34 pm
Rick
Member
Members
Forum Posts: 1110
Member Since:
February 17, 2013
sp_UserOfflineSmall Offline

We've had this discussion before. Isn't the 30K limit for pushing funds only? Otherwise, it would be like the bank saying we won't honor this check because it's over 30K. I pulled 30700.00 from EQ last Nov. just to test, and it went through no problem. Why waste a cheque?

February 16, 2019
5:59 pm
Doug
British Columbia, Canada
Member
Members
Forum Posts: 4201
Member Since:
December 12, 2009
sp_UserOfflineSmall Offline

Loonie said
It's a per transaction limit, not per day. I did several transactions in one day last September to circumvent the rule. As far as I know, this is still possible.  

That's good to know, Loonie. A pain in the butt, but if it's per transaction, that's not so bad. 🙂

Cheers,
Doug

February 17, 2019
2:44 am
Loonie
Member
Members
Forum Posts: 9213
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

Rick said
We've had this discussion before. Isn't the 30K limit for pushing funds only? Otherwise, it would be like the bank saying we won't honor this check because it's over 30K. I pulled 30700.00 from EQ last Nov. just to test, and it went through no problem. Why waste a cheque?  

Yes, we did discuss some of this before, Rick.
But some of us don't have everything linked like you do. Maybe one of these days I'll get around to it! You may have to keep reminding me! lol
I don't even know if my "main" bank accounts at TD and CIBC are set up for this. I've always assumed they're not but will have to look into it.

Please write your comments in the forum.