Interac e-Transfer Guide for Newcomers (2026)

Key takeaways

You need a Canadian bank or credit union account; the other person needs an email or Canadian mobile number
Your bank sets your limits. Example: CIBC allows $3,000 a day, $10,000 a week and $30,000 a month
Most chequing plans include free e-Transfers; some basic plans charge per transfer
Turn on Autodeposit so money lands in your account without a security question
Once the other person deposits the money, you cannot reverse it. Send only to people you know

What is an Interac e-Transfer?

Interac e-Transfer moves money between bank accounts in Canada. You log in to your bank’s app or website, choose a contact and enter an amount. The other person gets an email or text message and deposits the money into their own account. They do not need to bank at the same place as you.

To send, you need an account at a bank or credit union that offers Interac e-Transfer, plus an email address or mobile number. Almost all Canadian banks and credit unions take part. It works only inside Canada, between Canadian accounts. To send money to family abroad, see sending money home.

Newcomers use e-Transfer for:

Paying rent and deposits to a landlord (only after you have seen the home and signed a lease).
Splitting bills with roommates.
Buying used items, such as furniture.
Receiving pay from some small employers.

How do you send and receive money?

To send

Log in to your bank app and choose “Interac e-Transfer” or “Send money”.
Add the contact: their name and email address or mobile number.
Enter the amount and pick the account to send from.
If the person does not use Autodeposit, set a security question and answer.
Tell them the answer in a safe way, such as in person or by phone. Do not put it in the message field.

To receive

With Autodeposit: the money goes straight into your account. There is no question to answer.
Without Autodeposit: open the notice, choose your bank, log in and type the answer to the sender’s question.

Request Money

You can also ask someone to pay you. This is called Request Money. At CIBC, one request can be up to $1,000, and you can have up to 10 open requests at one time. Other banks set their own rules.

Should you turn on Autodeposit?

Interac recommends Autodeposit “for ease and added security”. With it, nobody needs to guess or share a security answer, so a scammer who sees the notice cannot deposit your money.

Things to know:

You register in your bank app. You confirm your email or mobile number with a link. At CIBC, the link expires after 24 hours.
One email address or mobile number can be linked to only one account at one bank. If you change banks, remove it from the old bank first.
Many landlords and employers prefer to send to people with Autodeposit. It is faster for everyone.

How much can you send? Limits at the big banks

Interac does not set one limit for everyone. Each bank or credit union sets its own. New accounts sometimes start with lower limits. Here is what three banks publish, as of October 10, 2026.

Bank	Sending limit	Fee to send	Expiry and cancel
RBC	Based on your card’s daily limit. Up to $10,000 a day in the RBC Mobile app after identity checks	Free on personal chequing accounts, up to 999 a month, then $1 each. $1 each from a personal savings account	Expires after 30 days. Cancel free; a $5 reclaim fee applies if you do not cancel within 15 days of the expiry notice
TD	Not published on the fee pages; check your limit in the TD app	Free on plans such as TD Unlimited and TD Every Day; on other accounts $0.50 (up to $100) or $1 (over $100)	Cancelling is free
CIBC	$3,000 per 24 hours, $10,000 per 7 days, $30,000 per 30 days	$1.50, unless your account includes e-Transfers. Receiving is free	Recipient has 30 days to claim. Stopping a payment costs $3.50

Sources: each bank’s e-Transfer and fee pages, checked October 10, 2026. Other banks and credit unions set their own limits. Your bank app shows your limit.

Need to pay more than your limit, such as a large car deposit? Ask the seller about a bank draft or a wire transfer instead.

What does an e-Transfer cost?

For most newcomers, sending is free. Big-bank newcomer packages usually include e-Transfers in a plan with unlimited transactions. For example, RBC’s newcomer offer includes free e-Transfers on its Advantage Banking account, up to 999 a month.

Fees can apply in these cases:

You use a basic plan that counts each e-Transfer as a paid transaction.
You send from a savings account rather than a chequing account.
You cancel or stop a transfer (some banks charge, some do not).
You use Request Money on an account that charges for it.

Under a federal commitment, low-cost and no-cost accounts must include at least 18 debit transactions a month. Interac e-Transfers are one type a bank can count. Newcomers can get one of these accounts for $0 in their first year. Read more in bank fees explained.

What if you send money to the wrong person?

Act fast. If the money has not been deposited yet, cancel the transfer in your bank app. If the other person already deposited it, Interac says “there is no way to reverse the transaction”. You would have to ask them to send it back.

Check the email or phone number twice before you press send.
Send a small test amount first to a new contact.
Call your bank right away if you think there is fraud. Your bank can tell you what is still possible.

Common e-Transfer scams

Because e-Transfers cannot be undone, scammers like them. The Canadian Anti-Fraud Centre (CAFC) warns about these tricks:

Fake deposit notices. A text or email says money is waiting and links to a fake bank page. The goal is to steal your banking login. Open your bank app yourself instead of the link.
Overpayment. A buyer “accidentally” sends more than the price and asks you to send back the difference. The first payment is fraud and will be taken back.
Rental deposits. A cheap apartment, a fast reply, and pressure to pay before you see it. Read rental scams in Canada.
Fake officials. Someone says they are from the CRA or IRCC and demands payment. The CRA says it will never demand immediate payment by Interac e-Transfer.

Never share a one-time security code from your bank with anyone. See all the warning signs in banking and newcomer scams.

Common questions

Is Interac e-Transfer free in Canada?

Usually yes, if your chequing plan includes it. RBC chequing accounts include up to 999 free e-Transfers a month. Some basic or savings accounts charge per transfer, for example $1.50 at CIBC when your plan does not include e-Transfers.

How long does an e-Transfer take?

With Autodeposit it usually lands within minutes. Without Autodeposit, it waits until the person deposits it. If no one claims it, it expires after 30 days and the money comes back to you.

Can I send an e-Transfer to someone outside Canada?

Not with a regular e-Transfer. It works only between accounts at Canadian banks and credit unions. Use an international transfer service or a bank wire for money abroad.

Can I cancel an e-Transfer?

Yes, until the person deposits it. Some banks charge for this. CIBC charges $3.50 to stop a payment; RBC lets you cancel for free.

Why does my landlord want Autodeposit?

With Autodeposit, money goes into the account right away and there is no security answer to share. It is faster and safer for both sides. Only pay a landlord after you have seen the home and signed a lease.

Sources

Checked against these sources on October 10, 2026. Spotted something out of date? Tell us.

Interac e-Transfer guide for newcomers: limits, fees, Autodeposit and safety