Interac e-Transfer Fees in Canada (2026): Every Bank Compared

If you use Interac e-Transfer to send or receive money in Canada, you have probably wondered whether you are paying more than you should. Some banks include free unlimited transfers. Others still charge up to $1.50 per send on standard accounts. Over a year, that difference adds up fast — especially for freelancers, contractors, and small business owners.

This guide breaks down Interac e-Transfer fees at every major Canadian bank as of 2026, including which accounts include free transfers, which still charge, and how to stop paying fees altogether.

Interac e-Transfer Fees by Bank (2026)

Here is the per-transfer cost at every major Canadian bank and credit union. Fees shown apply to standard personal sending accounts. Premium packages and certain account types may waive fees — see notes below the table.

*Fee depends on account type. Click any bank above for a detailed breakdown of plans, limits, and how to increase your sending cap. Last verified September 2026.

Banks With Truly Free Unlimited e-Transfers

Four Canadian banks charge nothing to send or receive an e-Transfer from their everyday personal accounts, with no monthly fee. If you send money frequently, these are the simplest way to eliminate e-Transfer fees entirely.

Tangerine

Tangerine charges nothing to send or receive; you send from its no-fee Chequing Account. Limits are $3,000 a day, $10,000 a week and $20,000 a month.

Simplii Financial

Simplii Financial (owned by CIBC) includes free unlimited e-Transfers on its No-Fee Chequing Account, with no monthly fee (stopping a sent transfer costs $3.50). Simplii's monthly cap is $30,000 — $10,000 higher than Tangerine — which is useful if you handle larger volumes.

EQ Bank

EQ Bank has higher default limits than most free-transfer banks: $5,000 per 24 hours, $20,000 weekly and $50,000 monthly (ICICI Bank Canada, also free, goes to $10,000 a day). All free. No monthly fees. EQ Bank does not publish a way to raise these limits, so high-volume senders should check the defaults cover their needs.

Wealthsimple

Wealthsimple's chequing account offers free unlimited e-Transfers with an adjustable daily limit. You can set your daily cap anywhere from $1,000 up to $50,000 directly in the app, based on your eligibility. The default is $5,000 a day and $30,000 a month.

Big Five Banks: When Transfers Are Free, When They Are Not

The Big Five charge differently depending on your account plan. Here is where each stands in 2026.

RBC — Free on personal chequing, $1.00 on savings

RBC includes free e-Transfers (up to 999 a month) on all Canadian dollar personal chequing accounts, including Day to Day Banking, RBC Advantage Banking, Signature No Limit Banking, and VIP Banking. Sending from a personal savings account costs $1.00 per transfer.

TD — Free on every chequing plan

TD is the most consistent of the Big Five. Every TD chequing account, including the basic Minimum Chequing Account, includes free e-Transfers. There is no "premium plan required" gotcha.

BMO — Unlimited on premium plans, counted on basic ones

BMO includes unlimited free e-Transfers on the Premium, Performance, and Blue Rewards plans. The Plus (25 transactions a month) and Practical (12) plans count e-Transfers toward their included transactions, then charge $1.25 per extra transaction. Older pay-per-use accounts without a plan pay $1.00 per outgoing transfer. If you are unsure, check your plan details in BMO Online Banking.

Scotiabank — Included in every current chequing account

Every current Scotiabank chequing option includes e-Transfers. The Ultimate and Preferred Packages include unlimited transactions. The Basic Plus (25 transactions a month) and Basic (18) Bank Accounts count e-Transfers toward their included transactions, then charge $1.25 per extra transaction.

CIBC — $1.50 outside its fee-waived accounts, the priciest of the Big Five

CIBC charges $1.50 per e-Transfer — the highest per-transfer fee among the Big Five. The $1.50 fee is waived on several accounts — the Smart Account, Everyday Chequing Account, and the youth, student, and Smart Start plans — and CIBC drops it entirely for clients aged 65 and older on any chequing account. The premium plans that include free transfers carry monthly fees that are only waived at higher balances. Heavy senders on standard CIBC accounts often switch to Simplii Financial (also owned by CIBC) to avoid sending fees.

Receiving e-Transfers Is Always Free

This is worth emphasizing: receiving an Interac e-Transfer is free at the major Canadian banks, regardless of your account type or monthly plan (check with a smaller credit union if you're unsure). The fee structure only affects the sender.

For freelancers and contractors who only collect payments by e-Transfer, the choice of bank does not affect your per-transfer cost. What matters more is your bank's receiving limit (usually $25,000 per transfer), Autodeposit support, and how easily you can export records for taxes. Biller.ca handles the last part by parsing every Interac notification email you forward to us.

Business Accounts and e-Transfer Fees

Business e-Transfer fees work differently. Most Big Five business accounts charge per transfer — typically $1.00 to $1.50 — though premium business plans may include a bundled allowance of free transfers per month. Digital banks are catching up: EQ Bank launched a Business Account in 2025 with 50 free e-Transfers a month, then $0.50 each.

Many sole proprietors and freelancers use a personal chequing account at a free-transfer bank (Tangerine, Simplii, EQ Bank, Wealthsimple) specifically to avoid per-transfer business fees. This is legal and common for unincorporated businesses. Incorporated businesses should speak to their accountant about the tax and bookkeeping implications.

How to Avoid Interac e-Transfer Fees

1. Use a free-transfer digital bank. Tangerine, Simplii, EQ Bank, and Wealthsimple are all free on personal accounts with no monthly fee. This is the simplest path to zero fees.
2. Verify your Big Five account plan. TD and RBC are free on personal chequing. BMO and Scotiabank include e-Transfers in their chequing plans. If you have one of these accounts, you may already be paying nothing.
3. Upgrade to a premium chequing plan only if the math works. Scotiabank's Preferred Package and BMO's Performance Plan include unlimited transfers but carry monthly fees. If you do not send enough transfers to justify the plan cost on that alone, stay on a basic account and switch to a free-transfer bank.
4. Receive-only accounts do not matter. If you only collect e-Transfers, your bank's send fee is irrelevant. Focus on receiving limits and Autodeposit support.
5. Track every transfer. For self-employed Canadians, knowing exactly how much you have received (and from whom) matters for the $30,000 GST/HST threshold and tax filing. Biller.ca records it for you from forwarded notification emails.

Frequently Asked Questions

Which Canadian banks offer free Interac e-Transfers?

Tangerine, Simplii Financial, EQ Bank (personal accounts), and Wealthsimple offer free unlimited Interac e-Transfers with no monthly fee. RBC and TD include free e-Transfers on personal chequing; BMO, Scotiabank, and National Bank include them on their monthly plans. CIBC charges $1.50 outside its waived accounts.

How much does an Interac e-Transfer cost in Canada?

Between $0 and $1.50 per transfer. Digital banks charge $0. Among the Big Five, CIBC charges $1.50 outside its waived accounts. RBC and TD are free on personal chequing, and BMO and Scotiabank include e-Transfers in their plans.

Which bank offers unlimited free e-Transfers in Canada?

Tangerine, Simplii, EQ Bank, and Wealthsimple all offer unlimited free e-Transfers on personal accounts with no monthly account fees. These digital banks are the most popular choice among Canadians who send many transfers each month.

Is it free to receive an Interac e-Transfer?

Yes, on personal accounts at the major Canadian banks. Some business accounts charge to receive after a free allowance (EQ Bank Business: 100 free a month, then $0.50 each).

How do I avoid paying e-Transfer fees?

Open an account at a free-transfer bank (Tangerine, Simplii, EQ Bank, or Wealthsimple) and send from there. Alternatively, confirm your current chequing plan includes unlimited free e-Transfers. TD and RBC personal chequing, BMO's Premium, Performance, and Blue Rewards plans, and Scotiabank's Preferred and Ultimate Packages all include them.

Do business accounts pay more for e-Transfers?

Usually yes. Most Big Five business accounts charge per transfer, typically $1.00 to $1.50. Some premium business plans include a monthly allowance of free transfers. Digital banks are catching up: EQ Bank launched a Business Account in 2025 with 50 free e-Transfers a month, then $0.50 each.