Interac e-Transfer is currently one of the fastest and easiest ways of moving money around in Canada.
Many Canadians use the Interac e-Transfer service because of its relatively low transaction costs, 24/7 access and super-fast payments.
At the moment, over 300 financial institutions in Canada support Interac e-Transfers. One such bank is Desjardins — a cooperative financial group with more than 7.5 million members and clients.
In this article, I will be discussing the Desjardins Interac e-Transfer limit and everything about the service in general.
After explaining Desjardins’ e-Transfer service, I will also compare the Interac e-Transfer limit of Desjardins with those of other Canadian banks.
Let’s get into it!
Table of Contents
What is Interac e-Transfer?
It is an electronic money transfer network that is only accessible to Canadians within Canada.
The Interac e-Transfer service is fast, secure and accessible at various banking institutions in Canada.
The history of Interac e-Transfer goes back to 2003. Since its inception, the network has attracted public acceptance with over 1 billion transactions executed through it.
Even with the growing increase of other payment networks, Interac e-Transfer service still leads the competitors in terms of fees and processing speed.
Accordingly, several Canadian banks and finance companies allow unlimited free Interac e-Transfers on their platforms.
However, there are still some banks and financial institutions that charge a small fee for e-Transfer transactions.
Moreso, the e-Transfer transaction limits vary from one financial institution to another.
See the next section below for a detailed overview of Desjardins Interac e-Transfer limits.
Desjardins Interac e-Transfer Limit
As with other financial institutions, Desjardins has e-Transfer limits that determine how much you can send within a given period.
On the Desjardins website, it is stated that you can only send up to $5,000 per transfer and 24 hours.
What this means is that you cannot send more than $5,000 out of your Desjardins account via e-Transfer per transfer or within a day.
Notably, the Desjardins daily Interac e-Transfer limit is higher than the daily limit of most financial institutions in Canada including RBC, BMO, CIBC, and TD Canada Trust.
That being said, the maximum amount of money you can receive via e-Transfer at Desjardins is $25,000 per transfer.
While other Canadian institutions disclose their daily, weekly and monthly e-Transfer limits, Desjardins only discloses its daily limits.
If you wish to inquire about the weekly and monthly e-Transfer limits at Desjardins, contact their representative at:
- 1-800-CAISSES (1-800-224-7737) or
- 514-CAISSES (514-224-7737) if you reside in Montreal.
How to Send Interac e-Transfer with Desjardins
You can either use the mobile app or the AccèsD online platform to send Interac e-Transfers with Desjardins.
The following are the step-by-step processes on how to do so in either way.
Sending Interac e-Transfers with Desjardins Mobile App
If you want to send an Interac e-Transfer from the Desjardins mobile app, follow these steps:
- Open the Desjardins mobile app
- Log in to your account
- Tap on “Transfers” at the lower left corner of your screen
- Select “Interac e-Transfer” from the options presented to you
- Choose a recipient from your existing contact list or tap on “Add” to add a new recipient
- Select a transfer method (email or mobile)
- Enter a security question and provide an answer
- Tap on “Confirm”
- If you have multiple account with Desjardins, choose the account you the money to be debited from
- Enter the amount you want to send
- Tap “OK”
- Verify the information you entered
- Tap the confirmation box and give your consent
- Tap on “Confirm”
Sending Interac e-Transfers on Desjardins AccèsD online
Before you can send Interac e-Transfers on the AccèsD online platform, you need the following:
- A valid Desjardins account
- An AccèsD account and also Interac profile
- The mobile number or email address of your recipient
Once you have all the above requirements, you can easily send e-Transfers on the AccèsD online banking platform.
Follow these steps to send Interac e-Transfers on Desjardins AccèsD online:
- Open the Desjardins official website on your desktop browser
- Log in to your AccèsD account
- Tap on “Transfers” at the lower left corner of your screen
- Select “Interac e-Transfer” from the options presented to you
- Choose a recipient from your existing contact list or tap on “Add” to add a new recipient
- Select a transfer method (email or mobile)
- Enter a security question and provide an answer
- Tap on “Confirm”
- If you have multiple account with Desjardins, choose the account you the money to be debited from
- Enter the amount you want to send
- Tap “OK”
- Verify the information you entered
- Tap the confirmation box and give your consent
- Tap on “Confirm”
How to Receive Interac e-Transfer with Desjardins
Receiving Interac e-Transfers is very easy with Desjardins.
The interesting thing is that you would receive e-Transfers automatically when transactions are sent to your Desjardins account number.
What this means is that you don’t have to register on the Interac e-Transfer network or answer any security questions to receive e-Transfers at Desjardins.
Note that Desjardins also allows its clients to receive e-Transfers through their emails or phone numbers.
These are the common methods of receiving e-Transfers at most financial institutions in Canada.
Let’s go into the step-by-step processes on how to receive e-Transfers at Desjardins through email or text.
Receiving Interac e-Transfers with Desjardins Mobile App
To receive an Interac e-Transfer with your Desjardins mobile app, follow the steps below.
- Open the email or text message you got from Interac
- Tap the Desjardins logo in the email or text message
- Log in to the Desjardins mobile app
- Provide an answer to the security question attached to the e-Transfer (contact the sender if you’re not sure)
- Tap “OK”
- Tap “Accept”
- If you have more than one account with Desjardins, choose the account you want the money to be deposited
- Tap “Deposit”
Receiving Interac e-Transfers with Desjardins AccèsD online
To receive an Interac e-Transfer with Desjardins AccèsD online, follow the steps below.
- Open the email you got from Interac
- Click on “Deposit Your Money”
- Click on the Desjardins logo
- Log in to your AccèsD online platform
- Provide an answer to the security question attached to the e-Transfer (contact the sender if you’re not sure)
- Tap “OK”
- Tap “Accept”
- If you have more than one account with Desjardins, choose the account you want the money to be deposited
- Tap “Deposit”
Remember, you cannot receive more than $25,000 per Interac e-Transfer into a Desjardins account.
Desjardins e-Transfer Autodeposit
Many Canadian banks that support Interac e-Transfer have a certain feature called “Autodeposit”.
As noted earlier, the autodeposit feature allows you to receive e-Transfers automatically to your account without any action from you.
To set up the Interac Autodeposit feature, you need to complete a short process by logging into your banking platform.
Once the Autodeposit feature is activated on a bank account, every Interac e-Transfers sent to that account will be deposited automatically.
This feature is also available to Desjardins account holders. The only difference is that you don’t need to set up or activate the Autodeposit feature by yourself.
To enjoy automatic deposit of Interac e-Transfers at Desjardins, all you need is to give the sender your Desjardins account number.
By so doing, the money sent to you will be automatically deposited into your Desjardins account without you answering any security questions. It is easier and more convenient to receive money this way.
How to Cancel Interac e-Transfer at Desjardins
You can cancel an Interac e-Transfer that has not been deposited or accepted into a recipient’s bank account at Desjardins
To cancel an unaccepted or pending Interac e-Transfer made with Desjardins, follow the steps below.
On Desjardins mobile app:
- Open the Desjardins mobile app
- Log in to your account
- Tap on “More” at the lower right corner of your screen
- Tap “Interac history and profile”
- Navigate to “Pending transfers” and select a specific transaction you want to cancel
- Tap “Delete”
On Desjardins AccèsD online platform:
- Open the Desjardins official website on your desktop browser
- Log in to your AccèsD account
- Click on “Search transactions”
- Choose “Interac e-Transfers”
- Navigate to “Pending transfers” and select the specific transaction you want to cancel
- Click “Delete”
Note that you would be required to specify the Desjardin account you want the funds to be deposited to upon cancelling an e-Transfer.
Desjardins Interac e-Transfer Fees
Like other institutions in Canada, Desjardins allows its customers to receive Interac e-Transfers for free.
However, Desjardins charges clients with inactive monthly plan outgoing Interac e-Transfers fees.
Desjardins customers also pay for sending Interac e-Transfers after exceeding the number of transactions included in their plan.
So long as an account holder has an active monthly plan, they will not be charged fees for sending Interac e-Transfers with Desjardins.
Desjardins Interac e-Transfer Limit vs Other Canadian Bank’s Limits
Having discussed everything about Desjardins’ e-Transfer services, it is time to compare the bank’s transaction limit with those of other financial institutions.
As noted earlier, Desjardins only disclosed its daily e-Transfer limits. On the other hand, several financial institutions disclose their daily, weekly and monthly Interac e-Transfer limits.
The following table highlights how the Desjardins Interac e-Transfer limit compares with those of other financial institutions in Canada.
| Bank | 24-hour | 7-day | 30-day |
| Desjardins e-Transfer limit | $5,000 | Undisclosed | Undisclosed |
| HSBC e-Transfer limit | $7,000 | $10,000 | $40,000 |
| RBC e-Transfer Limit | Varies per client’s card | Varies per client’s card | Varies per client’s card |
| CIBC e-Transfer limit | $3,000 | $10,000 | $30,000 |
| 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 |
| Tangerine e-Transfer limit | $3,000 | $10,000 | $20,000 |
| TD e-Transfer limit | $3,000 | $10,000 | $20,000 |
| Simplii e-Transfer Limit | $3,000 | $10,000 | $30,000 |
Learn more:
- EQ Bank e-Transfer Limit
- TD e-Transfer Limit
- BMO e-Transfer Limit
- CIBC e-Transfer Limit
- Simplii e-Transfer Limit
Final Thoughts on Desjardins Interac e-Transfer Limits
The $5,000 daily e-Transfer limit of Desjardins is one of the highest in Canada.
Among all the banks compared above, HSBC is the only bank with a higher daily e-Transfer limit than Desjardins.
Having a $25,000 maximum incoming e-Transfer limit also shows that Desjardins has favourable e-Transfer limits.
If you’re a low-mid-income earner, you may find the Desjardins Interac e-Transfer limit more suitable compared to other limits out there.
Notwithstanding, comparing more options would help you understand better which financial institution has a favourable e-Transfer service.
When deciding which financial institution has the favourable e-Transfer service, you should not only look at the limits but also the applicable fees.
FAQs on Desjardins Interac e-Transfer Limit
How long does Desjardins e-Transfer take?
When you send an Interac e-Transfer with Desjardins, the recipient should get a notification email or text message within 30 minutes.
The money will also be deposited immediately after the recipient accepts the e-Transfer.
But if the recipient activated Interac e-Transfer Autodeposit, they will receive the funds automatically within a few minutes.
Is Desjardins Interac e-Transfers secure?
Desjardins Interac e-Transfer service is secured just as with other Canadian banks and financial institutions.
Desjardins protects Interac e-Transfers using the following measures:
- Encrypted transactions
- Authentication before accessing banks and other financial institution’s transactional sites
- Security question and answer requirement before accessing outgoing e-Transfers
- Monitoring of unusual transactions with technology
How do I decline an incoming Interac e-Transfer?
If you ignore an incoming Interac e-Transfer for 30 days, it will expire automatically without you having to do anything.
However, you can also click the link in the notification email to decline an incoming e-Transfer.
Can I send an Interac e-Transfer to any bank account number?
No. You can’t send Interac e-Transfers from Desjardins to any Canadian bank account number.
To send Interac e-Transfer with Desjardins, you need to have the recipient’s email address or phone number.
But if the recipient is also a Desjardins client, then it’s possible to send them an e-Transfer using only their Desjardins account number regardless of whether they registered for an e-Transfer or not.
