Tangerine e-Transfer Limit For 2023

Interac e-Transfer is a convenient and secure way to transfer money between bank accounts. 

The best part is that you don’t have to pay heavy fees or charges for using the service and you can use the Interac e-Transfer service at any time.

While Interac e-Transfer is a fast money transfer method, you should know that every bank in Canada has different limits when it comes to how much you can send or receive via Interac e-Transfer. 

This article will look at the Tangerine e-Transfer limit and also show you various ways in which you can use this service.

So continue reading to find out the details!

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Interac e-Transfer Overview

Interac e-Transfer (formerly Interac Email Money Transfer) is a funds transfer service in Canada that allows you to send money from one bank account to another business or personal account.

Interac e-Transfer is not a new technology. It has been around since 2003. Since then, the service has been helping Canadians transfer funds rapidly and easily between any two bank accounts.

Today, more than 300 banks across Canada offer Interac e-Transfer as a payment method for their customers’ convenience.

The Interac e-Transfer service is also offered by many Canadian credit unions, savings institutions and trust companies.

To begin using Interac e-Transfer, you will need to register for an account with one of the participating financial institutions that offer this service.

What is the Tangerine e-Transfer Limit?

Similarly to other Canadian financial institutions, Tangerine Bank has its e-Transfer limit.

So what is Tangerine Bank’s e-Transfer limit? To send money through Tangerine e-Transfer, the following limits apply:

  • $3,000 per day
  • $10,000 per week
  • $20,000 per month

Tangerine Bank also has limits on the amount you can receive through its e-Transfer. To receive money via Tangerine Bank’s e-Transfer, the following limits apply:

  • $10,000 per day
  • $70,000 per week
  • $300,000 per month

You should note, however, that the above e-Transfer limits are the maximum amounts you can send and receive via Tangerine e-Transfer.

The bank currently doesn’t have any minimum limits set on the amount you can send or receive through its e-Transfer.

This means that you can send and receive as little as $1 through Tangerine e-Transfer.

How to Send e-Transfer With Tangerine

Sending an e-Transfer with Tangerine Bank may seem daunting if you don’t know the process. However, the process is very straightforward

To easily send an e-Transfer with Tangerine Bank, all you have to do is follow the steps below:

  • First, sign in to the online banking portal of Tangerine Bank
  • After signing, look at the right upper corner of your screen 
  • There you will see some options, tap on “Interac e-Transfer”
  • After that, you will see a form that requires you to fill in the details of the account you are sending money to
  • Make sure the information you provide is accurate
  • Next, select the account you intend to transfer funds from
  • After selecting an account, tap on “Next”
  • The next step is to review all the information you have provided
  • Include a security response that is necessary to receive the payments
  • Finally, tap on “Send” to conclude your transfer

How Do I Receive an e-Transfer from Tangerine?

If someone sends you funds through e-Transfer, Tangerine Bank will notify you by sending you a text or email containing the details of the transaction.

Once you receive a text or an email from Tangerine Bank, all you have to do is click on the link in the email or text and follow the instructions.

However, if you set an Interac Autodeposit on your account with Tangerine Bank, anytime someone sends you money through e-Transfer, it will automatically be deposited into your account.

How Do You Cancel a Tangerine e-Transfer?

Sometimes you may want to cancel an e-Transfer you initiated. Several reasons may make you want to cancel an e-Transfer.

So how do you cancel a Tangerine e-Transfer? 

To cancel an e-Transfer with Tangerine Bank, all you have to do is follow the steps below:

  • Sign in to your chequing account with Tangerine
  • After signing in, tap on “Transfer” 
  • A list of your previous transfers will pop up
  • Choose the e-Transfer you intend to cancel
  • Click on “Cancel Transfer” and that’s all

You should note however, that if you send an e-Transfer to an account that has the Autodeposit feature enabled, you can not cancel that e-Transfer.

This is because, if someone sets up an Autodeposit on his or her account, any funds transferred through an e-Transfer will be deposited automatically into the account.

Also note that if an e-Transfer has already been accepted by the recipient, you can not cancel that e-Transfer.

Tangerine e-Transfer Limit Increase

While other banks in Canada provide information on how you can increase your e-Transfer limit, the case is not the same with Tangerine.

At the moment, there is no information on the Tangerine website specifying how you can increase your e-Transfer limit with the bank.

Nevertheless, if you want to increase your Tangerine e-Transfer limit, you can reach out to the bank at 1-888-826-4374.

Tangerine e-Transfer Processing Time

As mentioned earlier, Interac e-Transfers is a super fast funds transfer service. As a result, you should expect your Tangerine e-Transfer to be processed within a few minutes.

A recipient that doesn’t have Autodeposit enabled should expect to receive a notification about their e-Transfer within 30 minutes.

If the recipient doesn’t receive a notification after 30 minutes then it might be a result of technical problems such as poor network.

In some cases, the notification email message might get up in the recipient’s spam or junk file without his or her knowledge.

Tangerine e-Transfer Fees

You can only send or receive funds via e-Transfer with Tangerine Bank if you open a chequing account with the bank.

This means that if you only have a savings account with Tangerine Bank, you won’t be able to use the e-Transfer service.

If you have a Tangerine chequing account, you can use the e-Transfer service without paying any fees.

This makes Tangerine Bank a better option when it comes to e-Transfers because other banks in Canada charge a certain amount for using their e-Transfer service

Tangerine e-Transfer Limits vs Other Canadian Banks’ Limits

As mentioned earlier, every bank in Canada has its limit regarding the amount you send or receive through e-Transfer.

Let’s compare Tangerine e-Transfer limit to that of other Canadian banks so that you can make an informed decision:

Bank NameDailyWeeklyMonthly
Tangerine e-Transfer limit$3,000$10,000$20,000
TD e-Transfer limit $3,000$10,000$20,000
Scotiabank e-Transfer limitIt varies according to the client’s cardIt varies according to the client’s cardIt varies according to the client’s card
RBC e-Transfer LimitIt varies according to the client’s cardIt varies according to the client’s cardIt varies according to the client’s card
CIBC e-Transfer limit$3,000$10,000$30,000
BMO e-Transfer limit$2,500 / $3,000$10,000$20,000
EQ Bank e-Transfer limit$3,000$10,000$20,000
HSBC e-Transfer $7,000$10,000$40,000
Simplii e-Transfer Limit$3,000$10,000$30,000

From the above table, you can see that almost all the banks have the same transfer limit for seven days.

Also, you can see that the Tangerine e-Transfer limit is similar to that of the other Canadian banks listed above.

The only bank on the list that has a higher e-Transfer limit than Tangerine Bank is HSBC which has double the daily and monthly Tangerine e-Transfer limit.


Final Thoughts on Tangerine e-Transfer Limit

And that’s all you need to know about the Tangerine e-Transfer limit. 

As you can see, the Tangerine e-Transfer limit for sending and receiving money is similar to that of other Canadian banks. 

This makes Tangerine’s e-Transfer service a fair option for those who are looking to send or receive money from anyone. 

However, if you intend to transfer more than $3,000 per day or $20,000 per month, then HSBC Bank will be a better option for you.

Hopefully, now that you have a better idea of the Tangerine e-Transfer limits, you can make an informed decision as to whether they offer enough limits for you or not.

FAQs on Tangerine e-Transfer Limit

Is there an e-Transfer limit Tangerine?

Yes. Just like other Canadian banks, Tangerine Bank has a maximum e-Transfer limit of $3,000 per day, $10,000 per week and $20,000 per month.

How do I increase my transaction limit on Tangerine?

At the moment, there is no information on how you can increase your transaction limit on Tangerine. If you want to increase your Tangerine transaction limit, you can reach out to the bank at 1-888-835-6281.

How long does a Tangerine e-Transfer take?

Interac e-Transfer is a fund transfer service that is very fast. This means that transfers made through Tangerine Interac e-Transfer are expected to be delivered almost immediately.

However, some Interac e-Transfers may take up to 30 minutes or more. The delay may be a result of technical issues.

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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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