Scotiabank e-Transfer Limits 2023

Interac e-Transfer has continued to generate popularity as it offers a convenient way for individuals to send and receive money securely and speedily. 

However, Scotiabank, like other financial institutions, has set limits on the amount of money that can be transferred using this service. 

These limits are designed to protect customers from fraudulent activity and ensure that funds are transferred securely.

In this article, we will explore the Scotiabank Interac e-Transfer limits in detail, including how they compare and how you can increase your e-Transfer limit at Scotiabank.

Photo credit: Scotiabank

Let’s go there!

Overview of Interac e-Transfer

Before we get into the details, it’s essential to have a quick understanding of what Interac e-Transfer entails.

Interac e-Transfer is an electronic fund transfer provided by Interac which allows individuals and businesses to send and receive money securely and quickly through online or mobile banking.

This service has gained immense popularity since its inception in 2003 as it offers a convenient, safe, and fast method to transfer funds within Canada.

However, there are certain limits imposed on Interac e-Transfer transactions in Canada. These limits are in place to prevent partner institutions and users from fraudulent activities and money laundering.

As expected, the limits for Interac e-Transfer vary depending on the financial institution and a client’s credit limit. It is essential to understand these limits to avoid any inconvenience and make the most of e-Transfer.

Scotiabank e-Transfer Limits

Scotiabank is one of the over 250 financial institutions that support e-Transfers in Canada. However, its e-Transfer limits vary per client card. 

This means that the amount a Scotiabank customer can send depends on the limit of their Scotiabank card. 

If you exceed your card limit, your e-Transfer limit will be lower, as is the case with other financial institutions. 

However, Scotiabank allows customers to receive a maximum of $25,000 per e-Transfer, which is lower than the limit of other banks.

To find out your transfer limit, you should request the ScotiaCard Banking Access Maintenance form or access the “Managing your ScotiaCard” settings on your Scotia OnLine Banking account. 

There you will have the required information to ensure that you don’t exceed your limit.

How to Increase Limit 

If you’re looking to increase your Scotiabank e-Transfer limit, you can request to do so just like with other financial institutions. 

The process is simple: all you need to do is get in touch with a Scotiabank representative by calling 1-800-472-6842 or by visiting one of their branches. 

Keep in mind, however, that just because you request a limit increase does not mean it will be granted. 

Financial institutions set e-Transfer limits in order to manage risk, both for themselves and for their clients. 

If you have a good credit score and didn’t exceed your card limit, you’re more likely to be granted a higher Interac limit than someone with a poor credit score with an exceeded credit limit. 

However, having a lower limit can be beneficial, as it means you’ll have less to lose if your account is compromised.

How to Send e-Transfer at Scotiabank

As a Scotiabank customer, you can easily send money to friends, family, or anyone they wish to transfer funds to using the Interac service. 

To initiate the process, you can use either your Scotiabank online or mobile banking account. Follow the steps below when using the Scotiabank mobile banking app:

  • Step 1: Log in to your Scotiabank mobile banking account.
  • Step 2: From the home screen, click on the “Transfers” option. 
  • Step 3: Next, select “Interac e-Transfer.” 
  • Step 4: If you have multiple accounts, select the Scotiabank account from which you want to transfer the money. 
  • Step 5: Select a contact from your list or add a new one. 
  • Step 6: Enter the amount you want to transfer. 
  • Step 7: Set a security question and answer to ensure that only the intended recipient can access the funds. 
  • Step 8: Write a message if you wish
  • Step 9: Finally, click “Send” to complete the transaction. 

If you need help navigating through the process, you can check out the demo provided to see how to send an Interac through Scotiabank. 

It’s important to note that it may take up to 30 minutes for the recipient to receive notification of the transfer, and they must claim the transfer within 30 days by entering the correct security answer. 

If the recipient fails to claim the transfer within the specified time frame, the transfer will expire, and the sender will need to follow some steps to get the money back into their account. 

If the recipient has enabled auto-deposit, the Interac will be deposited into their account automatically without the need to provide a security answer.

How to Accept e-Transfer at Scotiabank

The procedure for receiving an Interac at Scotiabank is the same as those of other financial institutions. 

To receive an e-Transfer at Scotiabank, it is necessary to have an active email address or Canadian phone number. 

This is because once someone initiates an e-Transfer to you, Scotiabank will notify you via email or phone within 30 minutes, prompting you to provide a security answer. 

However, suppose you have already set up an auto-deposit with your bank. In that case, the transfer will be deposited into your account instantly and without the need to provide a security answer. 

This is incredibly convenient for individuals who frequently receive transfers and want to save time and effort in the process. 

Overall, Scotiabank’s service is user-friendly and streamlined, making it easy for recipients to receive and access their funds quickly.

How Long it Takes

The time it takes to complete an e-Transfer through Scotiabank depends on various factors.

If the recipient has set up an auto-deposit with their financial institution, they will receive the funds directly to their bank account within a matter of minutes. This is a convenient and efficient option for those who frequently receive payments through e-Transfer.

On the other hand, recipients who have not set up auto-deposit will receive the e-Transfer within 30 minutes after providing the correct security answer. Although this may take slightly longer than the auto-deposit option, it is still a relatively quick way to receive funds.

It’s worth noting that immediate Interac e-Transfers from Scotiabank can only be made to the following banks:  

  • Scotiabank
  • BMO
  • RBC
  • TD
  • National Bank 
  • CIBC
  • Desjardins
  • PC Financial
  • Tangerine (formerly ING Direct) 
  • ATB Financial

If your bank is not listed above, it means you may experience delays when expecting an e-Transfer from a Scotiabank account.


Scotiabank imposes a fixed charge of $1.00 per Interac e-Transfers, regardless of the transfer amount. 

It is important to note that Scotiabank stands out among other financial institutions by not charging a fee for e-Transfer cancellations. This can be a relief for individuals who mistakenly send funds to the wrong recipient or need to revoke a transaction for any other reason.

However, it is worth mentioning that there could be a fee for receiving an e-Transfer at Scotiabank if the recipient does not bank with any of the above banks. 

In comparison to other financial institutions, Scotiabank’s charges for Interac e-Transfer transactions could be considered relatively expensive.

Interac Limits of Other Canadian Banks 

Below are the outgoing Interac limits of some of the major Canadian banks.

Bank Daily  Weekly Monthly  
RBC Depends on a client’s cardDepends on a client’s cardDepends on a client’s card
BMO $2,500 / $3,000$10,000$20,000
TD $3,000$10,000$20,000
CIBC $3,000$10,000$30,000
HSBC $7,000$10,000$40,000
EQ Bank  $3,000$10,000$20,000
Tangerine  $3,000$10,000$20,000
Simplii $3,000$10,000$30,000

Besides RBC, all the above banks disclosed their daily, weekly, and monthly limits. This makes it easier to know what to expect.

Bear in mind that the above are outgoing limits. The incoming limits vary and they’re usually higher than the outgoing limits.

When factoring in the best Interac e-Transfer provider, you want to focus on the incoming and outgoing limits, fees, and important features like auto-deposit and money request.

Learn more about the Interac limits of each of the above banks: 

Scotiabank Interac Limit FAQs

What is the maximum e-Transfer for Scotiabank?

Scotiabank doesn’t disclose its outgoing e-Transfer limits. The limit varies per client card. However, $25,000 is the maximum incoming e-Transfer limit at Scotiabank.

Does Scotiabank charge for e-Transfers?

Scotiabank doesn’t charge for e-Transfer cancellation. But it charges $1 per outgoing transfers. You may also be charged a fee for receiving an e-Transfer at Scotiabank depending on the bank that’s processing the transfer.

Why is my e-Transfer pending Scotiabank?

When you send an e-Transfer at Scotiabank and you see ‘pending’ on the status, it simply means that the transfer has not been processed to the receiver’s account, probably because they didn’t claim it yet or knowledge problem.

Why does Scotiabank Transfers take so long?

Probably because the transfer is coming from a bank that’s not eligible for Scotiabank’s immediate Interac e-Transfer deposit. It could also be a result of a poor network connection or a higher transfer amount.

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About John Adebisi

John Adebisi is a CPA, FCCA and MBA holder with a Bachelor's degree in Accounting & Finance. He has over a decade of experience in writing personal and business finance content for audiences across North America, Europe, the UK and Africa. In addition to his writing experience, he also has a strong background in financial research and analysis, giving him a unique perspective of the financial markets. John derives pleasure in helping people make smart financial decisions, and he believes that knowledge and experience can be valuable resources for anyone who wants to learn how to manage their money.

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