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Email this1:54 pm
March 14, 2023
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Not sure this is the proper place, but I couldn't find a BMO-specific forum.
I just received notification that BMO has increased the limit on e-transfers to $5,000. Wonder if other FIs will follow suit? I hope they will. BMO is not a bank I deal with often, but I do have an ancient account there.
7-day and 30-day Interac e-Transfer send limits and receiving limits remain unchanged. Which negates some of the benefit of the increase on individual e-transfers.
2:24 pm
February 14, 2023
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Interesting because my limit increased up to 10k/d, 20k/w, 30k/m. Which is still too low.
3:44 pm
November 19, 2022
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I have 7k transaction/day , 10k week and 40k month with HSBC bank.
4:50 pm
April 20, 2019
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kesa said
Interesting because my limit increased up to 10k/d, 20k/w, 30k/m. Which is still too low.
Which bank gives you these Interac transaction limits?
I have td/tangerine/Simplii/Cibc accounts and have not been able to get the 3K limit changed. MULTIPLE bank CSR say this is based on Interac limitations… How do I increase these Interac e-transfer limits for myself?
8:11 pm
May 26, 2022
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My BMO Interac e-Transfer limit increased to 10k/day, 20k/week & 30k/month.
3:17 am
October 5, 2017
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My limit increased up to 5k/d from 3k/d , (10k/w, 20k/m unchanged)
Interesting because my wife's limit increased up to 10k/d, 20k/w, 30k/m.
6:20 am
May 22, 2015
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Wrayzor said
Not sure this is the proper place, but I couldn't find a BMO-specific forum.I just received notification that BMO has increased the limit on e-transfers to $5,000. Wonder if other FIs will follow suit? I hope they will. BMO is not a bank I deal with often, but I do have an ancient account there.
7-day and 30-day Interac e-Transfer send limits and receiving limits remain unchanged. Which negates some of the benefit of the increase on individual e-transfers.
I still see 3K in my BMO account:
Remaining limits
for 24 hours: $3,000.00; for 7 days: $9,946.40; for 30 days: $19,946.40
6:24 am
February 14, 2023
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suburbs4life said
Which bank gives you these Interac transaction limits?
I have td/tangerine/Simplii/Cibc accounts and have not been able to get the 3K limit changed. MULTIPLE bank CSR say this is based on Interac limitations… How do I increase these Interac e-transfer limits for myself?
BMO
6:35 am
November 19, 2022
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I also have the following limits with my CU
Innovation Credit Union (personal no-fee chequing)
Per outgoing e-transfer: $10,000
Outgoing daily maximum: $20,000
Outgoing 7-day maximum: $50,000
Outgoing 30-day maximum: $100,000
8:35 am
April 6, 2013
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suburbs4life said
…
I have td/tangerine/Simplii/Cibc accounts and have not been able to get the 3K limit changed. MULTIPLE bank CSR say this is based on Interac limitations… How do I increase these Interac e-transfer limits for myself?
The bank CSR's are wrong.
The Interac e-transfer system can handle up to at least $25,000 per transfer. Interac says so in Interac e-Transfer for Business.
8:50 am
May 26, 2022
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Bank Interac e-Transfer limits are outlined here: https://moneygenius.ca/blog/interac-e-transfer
BMO raised its Interac e-Transfer limits very recently.
9:51 am
April 20, 2019
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Norman1 said
suburbs4life said
…
I have td/tangerine/Simplii/Cibc accounts and have not been able to get the 3K limit changed. MULTIPLE bank CSR say this is based on Interac limitations… How do I increase these Interac e-transfer limits for myself?The bank CSR's are wrong.
The Interac e-transfer system can handle up to at least $25,000 per transfer. Interac says so in Interac e-Transfer for Business.
Thanks Norman! I guess the question I should be asking now is- Has anyone been successful in getting Td/Tang/simplii to increase their interac e transfer limits? If so, how did you do it?
I even have a TD private banker. Which usually gets me better than retail banking help. However, they appeared lost when I brought this up in the past.
10:09 am
March 17, 2018
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My Scotiabank account only has 3K limit.
Even Wealthsimple, who used Peoples Trust for etransfer, has larger limits:
Timeframe Sending limit
Per day $5,000.00CAD
Per week $10,000.00CAD
Per month (30 days) $30,000.00CAD
However, since Wealthsimple uses an intermediary, they warn :
Note: If your e-transfer has been In Progress for longer than 30 minutes, it is likely that the e-transfer has been held by an intermediary. Our team is currently working on resolving this in order to release the funds, which may take up to one business day.
3:57 pm
December 25, 2020
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Meridian and Motus have had $5000 limits for a long time
4:29 am
November 18, 2017
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I'm curious... what are our members' reasons to choose (usually) fee-based Interac instead of the direct-debit/direct-credit EFT method? Speed? What advantage might there be? I never use Interac for transfers, only their ATMs.
RetirEd
RetirEd
6:57 am
October 27, 2013
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Interac e-transfers are an excellent way to pay friends, contractors* and so many other vendors who do not have (or do not want to have) credit card processing with its processing fees. The bank accounts I have do not charge for e-transfers and I use 3-5 such transfers each month.
* such as our housekeeper, the guy who replaced our deck stair treads, and the guy who took some stuff to the dump.
7:03 am
March 14, 2023
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I've used Interac for the convenience of being able to pay/receive payment with almost everybody (including some smaller businesses). I can't recall ever paying a fee although I realize that some FIs still charge for the service.
I've also used Interac to move money into and out of accounts. Although that was mainly when I was looking after my Mom's accounts at Big 5 banks.
The main advantage is the ability to move funds without having to know or set up account details. For me it's replaced cheques.
8:19 am
May 11, 2023
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UkrainianDude said
I have 7k transaction/day , 10k week and 40k month with HSBC bank.
Hello, HSBC Bank Canada Clients
We are looking forward to you joining RBC once the acquisition is complete and hope you’re excited for what’s in store. As we work towards completing the acquisition, you can expect transparency and regular updates from us.
This acquisition is subject to customary closing conditions including regulatory approvals.
Was not interac e-transfers developed by the big 5? My BMO transactions are free while my Vancity is 90¢.
Please write your comments in the forum.