Simplii Financial is CIBC's online banking brand, offering a no-fee alternative to traditional branch-based banking. For Canadians who send and receive Interac e-Transfers regularly, Simplii stands out in two important ways: every e-Transfer is free, and the monthly sending cap of $30,000 is one of the most generous among digital banks.
That combination makes Simplii particularly attractive for freelancers, contractors, and micro-business owners who collect payments by e-Transfer and want to minimize banking costs. Here is a detailed look at Simplii's e-Transfer limits, fees, and how to get more room when you need it.
In this guide
Simplii Financial Interac e-Transfer Limits
Simplii enforces four tiers of sending limits: per-transaction, daily, weekly, and monthly. All four must be satisfied for a transfer to go through. Even if you have room under your daily cap, you could still be blocked by your weekly or monthly ceiling.
The standard per-transaction limit is $3,000, with a matching daily limit of $3,000. Over a rolling seven-day period, you can send up to $10,000. Where Simplii distinguishes itself is the 30-day cap: $30,000, which matches CIBC (its parent bank) and exceeds what most competitors offer. For context, TD and BMO cap personal accounts at $20,000 per month.
On the receiving side, Simplii does not publish a specific receiving cap. The standard Interac maximum per incoming transfer is $25,000, but Simplii does not advertise a daily or monthly ceiling on how much you can receive. This is practical for business owners who collect multiple client payments throughout the month without worrying about hitting a receiving wall.
| Limit Type | Personal | Business |
|---|---|---|
| Per Transfer | $3,000 | — |
| Daily | $3,000 | — |
| Weekly (7 days) | $10,000 | — |
| Monthly (30 days) | $30,000 | — |
| Receiving (per transfer) | $25,000 | |
Limits shown are defaults for standard accounts and may vary by account type. Dash (—) means the bank does not publish a separate limit for that period. Last verified March 2026.
Simplii Financial e-Transfer Fees
All Interac e-Transfers at Simplii are free -- both sending and receiving. There are no monthly account fees, no minimum balance requirements, and no per-transaction charges. This is a meaningful advantage over CIBC, Simplii's parent bank, which charges $1.50 per e-Transfer on most personal accounts.
For a micro-business owner processing 30 or 40 e-Transfer payments per month, those per-transfer fees at other banks add up to $45-$60 monthly in unnecessary costs. Simplii eliminates that line item entirely, which is one reason it has become a go-to for cost-conscious self-employed Canadians.
Receiving e-Transfers is also free at Simplii, regardless of how many you receive. There is no distinction between personal and business transactions -- Simplii treats all incoming e-Transfers the same way.
Tip for freelancers and contractors
Turn on Autodeposit in the Simplii app so client payments land in your account automatically. This removes the 30-day expiry window and means you never lose a payment because you forgot to accept it.
How to Increase Your Simplii e-Transfer Limit
Simplii does not currently offer a self-serve option in its app or online banking to adjust your Interac e-Transfer limits. To request an increase, you need to contact Simplii directly:
- Call Simplii at 1-888-723-8881. Ask to increase your Interac e-Transfer sending limits. The phone agent can review your account history and raise your daily, weekly, or monthly caps if you qualify.
- Use the secure message feature. Log in to Simplii Online Banking and send a secure message requesting a limit increase. This avoids hold times, though responses typically take one to two business days.
- Leverage the CIBC ATM network. While Simplii is an online bank, you can access some services at CIBC ATMs. However, limit changes specifically require a phone call or secure message.
Any increase is at Simplii's discretion. Factors that influence approval include your account age, transaction history, and average balance. If you are regularly bumping into the $3,000 daily cap, having a consistent history of high-volume transactions will strengthen your case.
Simplii Interac e-Transfer Not Working
If your Simplii e-Transfer is failing or stuck in a pending state, work through these common causes before contacting support:
- You have hit a rolling limit. Simplii enforces daily, weekly, and monthly caps. Even if your daily limit has room, your $10,000 weekly or $30,000 monthly ceiling may be exhausted. Review your recent transfer history to calculate your remaining capacity.
- Insufficient available balance. Simplii draws the transfer amount immediately when you hit send. If holds, pending transactions, or pre-authorized debits have reduced your available balance below the transfer amount, it will be declined.
- Incorrect recipient information. A misspelled email address or wrong phone number will prevent delivery. Always double-check contact details before sending, especially for new recipients.
- Autodeposit routing issue. If the recipient has Autodeposit registered to a different email address or at a different bank, the transfer may not arrive where expected. Confirm the recipient's registered Autodeposit email before sending.
- Interac system maintenance. Interac runs periodic maintenance windows that temporarily affect all banks. Check interac.ca for current service status.
If none of these apply, contact Simplii at 1-888-723-8881 for account-specific troubleshooting. Be wary of unsolicited messages claiming to be from Simplii or Interac -- our guide to common Interac e-Transfer scams explains what to watch for.
How Long Does a Simplii e-Transfer Take?
With Autodeposit enabled on the receiving end, Simplii e-Transfers typically arrive within minutes. Without Autodeposit, the recipient must manually accept the transfer using the security question and answer you set. Pending transfers remain available for up to 30 days before they expire and the funds are returned to your account.
Occasionally, Simplii's fraud detection systems will flag a transfer for additional review, which can add a delay of a few hours to one business day. If a transfer has been pending for more than 24 hours without any notification, call 1-888-723-8881 to check its status.
Income tracking tip
If you receive multiple client payments by e-Transfer each week, manually tracking every deposit in a spreadsheet gets old fast. Biller.ca parses your e-Transfer notification emails automatically and logs each payment with the sender, amount, and timestamp.
Stay on top of your e-Transfer income
Biller.ca parses your Interac e-Transfer notification emails and helps you track income, clients, and generate receipts. Built for Canadian small businesses.
Get Started FreeHow to Cancel a Simplii e-Transfer
You can cancel an outgoing e-Transfer as long as the recipient has not yet deposited or auto-deposited the funds:
- Log in to Simplii Online Banking or the Simplii app.
- Navigate to your pending transfers.
- Select the transfer and tap Cancel.
The refund is usually returned to your account within minutes, though it can occasionally take up to one business day. If the recipient has Autodeposit turned on, the money is deposited the moment you send it, which means cancellation is not possible. You will need to contact the recipient directly to arrange a return.
Simplii for Business Banking
Simplii Financial does not offer dedicated business accounts. Like its digital competitor Tangerine, Simplii is designed primarily for personal banking. That said, a significant number of sole proprietors and freelancers use personal Simplii accounts for their business transactions, drawn by the free e-Transfers and the $30,000 monthly sending cap.
The $30,000 monthly limit is especially relevant for business use. It matches the Big Five bank CIBC and exceeds what TD ($20,000) and BMO ($20,000) offer on personal accounts. If your business primarily involves receiving payments rather than sending them, Simplii's lack of a published receiving cap is an additional advantage.
How Simplii Compares to Other Banks
Simplii's per-transaction limit of $3,000 is standard, but its $30,000 monthly cap is among the highest for digital banks. Combined with free e-Transfers and no monthly fees, Simplii is one of the most cost-effective options for Canadians who rely heavily on e-Transfers. The only digital bank with a higher monthly cap is EQ Bank at $50,000. The main trade-off is the lack of business accounts and in-branch support, though access to CIBC's ATM network partially offsets the latter. Here is a full comparison:
| Bank | Per Transfer | Daily | Monthly | Fee |
|---|---|---|---|---|
| RBC | $3,000 | $10,000 | — | Free |
| TD | $3,000 | $3,000 | $20,000 | Free |
| Scotiabank | $3,000 | $3,000 | — | $1.00 |
| BMO | $3,000 | $3,000 | $20,000 | Free |
| CIBC | $3,000 | $3,000 | $30,000 | $1.50 |
| Tangerine | $3,000 | $3,000 | $20,000 | Free |
| Simplii Financial (this page) | $3,000 | $3,000 | $30,000 | Free |
| EQ Bank | $5,000 | $5,000 | $50,000 | Free |
| Wealthsimple | $5,000 | $5,000 | $30,000 | Free |
| National Bank | $4,000 | $4,000 | — | $1.25 |
| Desjardins | $5,000 | $5,000 | — | Varies |
| ATB Financial | $5,000 | $5,000 | $150,000 | Free |
Limits shown are defaults for standard personal accounts. See our complete bank comparison for full details. Last verified March 2026.
Frequently Asked Questions
What is the Simplii Financial Interac e-Transfer limit?
Simplii Financial sets a $3,000 per transfer limit with a daily cap of $3,000, a weekly cap of $10,000, and a monthly cap of $30,000.
Are Simplii Financial e-Transfers free?
Yes. Simplii Financial includes free unlimited e-Transfers on all accounts with no monthly fee.
How do I increase my Simplii Financial e-Transfer limit?
Call Simplii Financial at 1-888-723-8881 to request a limit increase.
How long does a Simplii Financial e-Transfer take?
With Autodeposit, transfers arrive within minutes. Standard transfers are typically available within 30 minutes.
Can I cancel a Simplii Financial e-Transfer?
Yes, cancel through Simplii Online Banking or the mobile app before the recipient deposits.
Is there a Simplii Financial receiving limit?
Simplii does not publish a specific cap on how much you can receive via e-Transfer. Contact Simplii directly to confirm your account's receiving limits.
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The information on this page is for general informational purposes only and does not constitute financial, legal, or tax advice. While we strive to keep this content accurate and up to date, we make no guarantees about its completeness or reliability. Always consult your bank, a qualified professional, or the relevant authority for advice specific to your situation. Last updated March 2026.