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 April 2026.

Banks With Truly Free Unlimited e-Transfers

Four Canadian banks include free unlimited Interac e-Transfers on every account with no monthly fee. If you send money frequently, these are the simplest way to eliminate e-Transfer fees entirely.

Tangerine

Tangerine includes free unlimited e-Transfers on every account — chequing, savings, and everything in between. There are no monthly account fees. The $3,000 per-transfer limit is standard for a Canadian digital bank, with $10,000 weekly and $20,000 monthly caps.

Simplii Financial

Simplii Financial (owned by CIBC) includes free unlimited e-Transfers on all accounts with no monthly fee. 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 the highest default limits of any free-transfer bank: $5,000 per transfer, $5,000 daily, $20,000 weekly, and $50,000 monthly. All free. No monthly fees. The downside is EQ Bank does not let you increase these limits, so high-volume senders should verify the defaults cover their needs.

Wealthsimple

Wealthsimple Cash offers free unlimited e-Transfers with an adjustable daily limit. You can set your daily cap anywhere from $1,000 to $25,000 directly in the app, based on your account eligibility. Monthly default is $30,000.

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 most chequing, $1.00 on savings

RBC includes free e-Transfers on its Day to Day Banking, No Limit Banking, Signature No Limit Banking, and VIP Banking plans. Sending from a savings account typically 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 — Free on all Everyday Bank Plans

BMO includes free unlimited e-Transfers on every Everyday Bank Plan (Plus, Premium, Practical). 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 — $1.00 on most standard accounts

Scotiabank charges $1.00 per e-Transfer on most personal accounts. The Preferred Package and Ultimate Package include free transfers, but these packages carry monthly fees of $16.95 and $30.95 respectively. Unless you hit the minimum balance waivers, you are paying one way or another.

CIBC — $1.50 on most accounts, the priciest of the Big Five

CIBC charges $1.50 per e-Transfer — the highest per-transfer fee of any major Canadian bank. Free transfers are available on the Smart Account and Smart Plus Account, but these plans carry monthly fees that are waived only at higher balances. Heavy senders on standard CIBC accounts often switch to Simplii Financial (also owned by CIBC) to avoid fees entirely.

Receiving e-Transfers Is Always Free

This is worth emphasizing: receiving an Interac e-Transfer is free at every Canadian bank and credit union, regardless of your account type or monthly plan. 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 like EQ Bank and Wealthsimple do not currently offer dedicated business accounts.

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 every account with no monthly fee. This is the simplest path to zero fees.
2. Verify your Big Five account plan. TD is free on all chequing. RBC is free on most chequing. BMO is free on all Everyday Bank 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 CIBC's Smart Account include free 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 GST/HST thresholds and tax filing. Biller.ca does this automatically from forwarded email notifications.

Frequently Asked Questions

Which Canadian banks offer free Interac e-Transfers?

Tangerine, Simplii Financial, EQ Bank, and Wealthsimple offer free unlimited Interac e-Transfers on all accounts with no monthly fee. RBC, TD, BMO, and National Bank include free e-Transfers on most chequing plans. Scotiabank and CIBC charge on standard accounts but include free transfers on premium packages.

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, Scotiabank charges $1.00 and CIBC charges $1.50 on standard accounts. RBC, TD, and BMO are free on their chequing plans.

Which bank offers unlimited free e-Transfers in Canada?

Tangerine, Simplii, EQ Bank, and Wealthsimple all offer unlimited free e-Transfers 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. Every Canadian bank and credit union accepts incoming e-Transfers for free, regardless of your account type.

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 chequing accounts, RBC chequing accounts, and BMO Everyday Bank Plans 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 like EQ Bank and Wealthsimple do not currently offer business accounts.