There is absolutely no reason why anyone living in Canada shouldn’t be using the Interac e-Transfer service.
It’s one of the fastest ways to move money around without paying ridiculous transaction fees.
The Interac e-Transfer service comes with low transaction costs and 24/7 access which makes it far better than Wire Transfers, Paypal, Cheques or ATMs.
This probably explains why many reputable Canadian banks offer the e-Transfer service on all of their banking platforms.
However, each bank has slightly different terms and conditions attached to its e-Transfer service.
As a result, I prepared this article to inform you about the Tangerine e-Transfer service.
Moving forward, I will summarize and tell you all the key information about the Tangerine e-Transfer limit, processing time, fees and a lot more. Keep reading!
What is Interac e-Transfer?
It’s a superfast electronic payment service that is accessible only here in Canada.
The background story of Interac e-Transfer can be traced back to 1984. But, there is no need to go into all of that now.
The most important thing to know is that the e-Transfer service was not birthed in a hurry to make a profit. No!
In Canada today, no fewer than 250+ reputable banks offer the Interac e-Transfer service on their various platforms.
One such Canadian bank is the popular Tangerine bank. Except you’re a new Canadian, Tangerine shouldn’t be strange to you.
Keep reading to learn about Tangerine e-Transfer services.
What is the Tangerine e-Transfer Limit?
At the moment, Tangerine bank does not have any minimum limit on the amount of money you can receive via e-Transfer.
However, there are standard maximum limits to how much money you can send or receive within a fixed time period.
Below is a quick highlight of Tangerine e-Transfer limits that applies to sending money:
- Maximum of $3,000 within a 24-hour period
- Maximum of $10,000 within a 7-day period
- Maximum of $20,000 within a 30-day period
Also, there are specified maximum limits to the amount of money you can receive via e-Transfer with Tangerine. See the limits below.
- Maximum of $10,000 within a 24-hour period
- Maximum of $70,000 within a 7-day period
- Maximum of $300,000 within a 30-day period
Tangerine e-Transfer Limit Increase
Tangerine doesn’t specify how to increase the e-Transfer limit on its platform.
This is not the case with other Canadian banks that state how one can increase their e-Transfer limit.
However, you can negotiate for your limit increase by contacting a Tangerine representative at 1-888-826-4374.
How to Send e-Transfer with Tangerine
If you own a Tangerine chequing account, follow the steps below to send money by e-Transfer.
- Log in to the Tangerine online banking platform
- Check the top right corner of your screen
- Click on “Interac e-Transfer”
- Fill in the correct details of the contact you are sending money to
- Choose the account from which the money will be deducted at your own end
- Click on “Next”
- Review the information you entered
- Add a security answer that will be required to receive the funds
- Click on “Send” to complete the transaction
How Do I Receive an e-Transfer from Tangerine?
You will be notified by email or text message whenever someone sends you money via e-Transfer.
If you have Interac Autodeposit enabled on your Tangerine account, the money will be deposited automatically.
But if you don’t have Autodeposit enabled, then click the link in your notification email or text message and follow the prompts.
Why Do Tangerine e-Transfers Take So Long?
Usually, Interac e-Transfers take up to 30 minutes to process. But in some cases, a number of factors could be causing the delay.
If the recipient has Autodeposit enabled, the money will still be deposited automatically to their account even after the delay.
But, if the Autodeposit feature is not activated, then the recipient should probably check the following:
- “Junk” or “Spam” inbox folder for the e-Transfer notification email
- Possible slow internet connection
- Cellular network issue (delaying the e-Transfer notification text message)
How Do You Cancel a Tangerine e-Transfer?
You can’t cancel an e-Transfer made to someone who has the Autodeposit feature enabled on their account.
Even if the recipient doesn’t have Autodeposit enabled, you can only cancel the e-Transfer if it hasn’t been accepted.
But, if all the above conditions haven’t been met, then follow the steps below to cancel a Tangerine e-Transfer.
- Log in to your Tangerine Chequing Account
- Click on “Transfer” and you will see a list of your transfer transactions
- Select the particular e-Transfer you want to cancel and hit the “Cancel Transfer” button
Tangerine e-Transfer Time of Processing
Interac e-Transfers initiated on a Tangerine account should be sent instantly to the recipient.
Recipients will be notified about the transactions within 30 minutes if they didn’t enable Autodeposit.
However, technical issues like a slow network can delay the notification email or text message on the receiving end.
Also, the notification email message can sometimes be delivered into a “Junk” or “Spam” inbox without the recipient knowing about it.
Tangerine e-Transfer Fees
As long as you are running a chequing account with Tangerine bank, the e-Transfer service is totally FREE.
This makes Tangerine a low-cost institution for e-Transfers compared to other banks that charge fees for sending and receiving e-Transfers.
Bear in mind that you can’t execute e-Transfers if you’re using Tangerine savings accounts.
Tangerine e-Transfer Limits vs The Limits of other Canadian Banks
Sometimes, people think that switching to another bank will give them more benefits to enjoy.
Well, this isn’t necessarily true with Interac e-Transfer services in Canada.
The limits placed by Tangerine bank on e-Transfer seem to be fairly the same as other financial institutions in Canada.
When I looked up the e-Transfer limits of eight reputable Canadian banks, the figures were very close to that of Tangerine bank. If not even the same.
To put this in the right perspective, I made a table which shows how the Tangerine Interac limits compare with those of other Canadian banks.
| Bank | 24-hour | 7-day | 30-day |
| Tangerine e-Transfer limit | $3,000 | $10,000 | $20,000 |
| RBC e-Transfer limit | Varies per client’s card | Varies per client’s card | Varies per client’s card |
| HSBC e-Transfer | $7,000 | $10,000 | $40,000 |
| EQ Bank e-Transfer limit | $3,000 | $10,000 | $20,000 |
| Scotiabank e-Transfer limit | Varies per client’s card | Varies per client’s card | Varies per client’s card |
| BMO e-Transfer limit | $2,500 / $3,000 | $10,000 | $20,000 |
| Simplii e-Transfer limit | $3,000 | $10,000 | $30,000 |
| CIBC e-Transfer limit | $3,000 | $10,000 | $30,000 |
| TD e-Transfer limit | $3,000 | $10,000 | $20,000 |
Concluding Thoughts
There you have the daily, weekly and monthly e-Transfer limits of Tangerine.
If you need to transfer more than the above amounts within a given timeframe, you may want to ask Tangerine for an Interac limit increase.
But the fact is that Interac e-Transfer limits are among the lowest for money transfers.
So chances are that an Interac limit increase may still not be sufficient for you.
That’s when you have to explore other transaction options.
With Tangerine, you can send and receive money through:
- Electronic Funds Transfer (EFT)
- Interac e-Transfer
- Pre-authorized payment
- Bank transfer
It’s interesting to note that you can transfer up to $50,000 daily using bank transfer or pre-authorized payments with Tangerine.
That’s where I will drop my pen. If you have any questions or need more clarifications, kindly draw my attention in the comment.
Before leaving, check out our blog section to learn more about other personal finance products and services in Canada.
FAQs on Tangerine e-Transfer Limit
Does Tangerine bank have an e-Transfer?
Yes, you can make an Interac e-Transfer with a Tangerine Chequing account.
However, other accounts like the Tangerine savings account do not support Interac e-Transfers.
Is there a limit on e-transfers with Tangerine?
Yes. There’s a daily, weekly and monthly e-Transfer limit at Tangerine.
Is Tangerine e-Transfer limit the same for all accounts?
Yes, the standard maximum limits apply to every of your Tangerine accounts.
However, you should keep in mind that not all Tangerine bank accounts have access to Interac e-Transfers.
Does Tangerine charge for e-Transfer?
Currently, Tangerine bank offers FREE Interac e-Transfer services to all Chequing account holders.
What is Tangerine e-Transfer cancellation fee?
It is totally FREE to cancel an e-Transfer transaction on a Tangerine Chequing account.
But, keep in mind that money sent via e-Transfer cannot be reversed or cancelled if the recipient has Autodeposit features enabled.
How do I know if my Tangerine e-Transfer went through?
Just log in to your Tangerine Chequing Account and click on “Transfer”.
When you see a list of your transfer transactions, select that particular e-Transfer you are interested in checking its status.
What is the maximum e-Transfer amount on Tangerine?
The maximum amount of money you can send via e-Transfer on Tangerine is $20,000 within a period of 30 days.
Also, the maximum amount you can receive via e-Transfer to a Tangerine account is $300,000 within a 30 days period.
What is the Tangerine e-Transfer limit per day?
The Tangerine e-Transfer limit per day is $3,000 for sending.
The daily limit of $10,000 also applies when receiving an e-Transfer into a Tangerine account within a 24-hour period.
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