CIBC’s standard Interac e-Transfer limits are $3,000 per transaction, $10,000 per day, and $30,000 per month for personal chequing accounts. These limits are set in part by the Interac network itself — the $3,000 per-transaction cap is a network-wide ceiling that applies at every Canadian financial institution, not only CIBC.
Interac e-Transfers are included free with CIBC Smart Account and Smart Plus. On the Everyday Chequing account ($4.95/month, 12-transaction limit), each e-Transfer counts toward the monthly transaction allowance — a factor worth considering for frequent senders on the entry-level tier.
CIBC e-Transfer Limits at a Glance
| Limit | Amount | Notes |
|---|---|---|
| Per transaction (send) | $3,000 | Interac network maximum — applies at all banks |
| Daily send limit | $10,000 | Resets midnight ET |
| Monthly send limit | $30,000 | Rolls on calendar month |
| Receive limit | No formal cap | Receiving has no set maximum |
| Request Money limit | $3,000 per request | Same cap applies |
e-Transfer Fees by Account
Whether e-Transfers cost money depends on your specific CIBC account tier.
| Account | Monthly Fee | e-Transfer Cost |
|---|---|---|
| CIBC Everyday Chequing | $4.95 | Counts toward 12-transaction limit; $1.25 each after |
| CIBC Smart Account | $14.95 | Included free (unlimited) |
| CIBC Smart Plus | $29.95 | Included free (unlimited) |
| CIBC Smart for Students | $0 | Counts toward 25-transaction limit |
| Simplii Financial | $0 | Included free (unlimited) |
For clients on the Everyday Chequing account who send more than 12 transactions per month (combining e-Transfers, bill payments, and other debit transactions), the per-transaction cost of $1.25 adds up quickly. A client sending 20 e-Transfers per month on Everyday Chequing pays $4.95 + $10.00 in excess fees — more than the Smart Account at $14.95.
The math typically favours upgrading to Smart Account (or switching to Simplii Financial, which has no monthly fee and unlimited e-Transfers) for anyone sending more than a handful of transfers per month.
Sending Large Amounts: e-Transfer vs. Wire Transfer
When you need to move more than $3,000 in a single transaction, Interac e-Transfer is not the right tool — you need a wire transfer.
| Method | Max Single Transaction | Speed | Fee |
|---|---|---|---|
| Interac e-Transfer | $3,000 | Minutes | $0–$1.25 |
| CIBC Online Wire (domestic) | ~$50,000/day | 1–2 business days | ~$25 |
| CIBC Online Wire (international) | ~$50,000/day | 2–5 business days | $40–$65 |
| In-branch wire | Higher limits available | 1–5 business days | Varies |
For a full breakdown of wire transfer limits and fees, see the CIBC wire transfer guide.
How to Send a CIBC e-Transfer
- Log in to CIBC Online Banking or the CIBC mobile app
- Navigate to Interac e-Transfer → Send Money
- Select the account to send from
- Enter the recipient’s email address or mobile number
- Enter the amount (up to $3,000) and an optional message
- Set a security question and answer (unless the recipient has Autodeposit enabled)
- Confirm and submit
The recipient receives an email or text notification. If they have Autodeposit enabled, the funds deposit automatically. Otherwise, they log in to their own bank, enter the security answer, and deposit the funds.
Autodeposit Setup
Autodeposit eliminates the security question step for incoming e-Transfers, making deposits faster and reducing the risk of interception if a security question answer is guessed. To set up Autodeposit:
- Log in to CIBC Online Banking
- Go to Interac e-Transfer → Autodeposit
- Register your email address or mobile phone number
- Choose which CIBC account receives auto-deposited transfers
- Confirm the registration via the verification email sent to you
Once set up, anyone sending you an e-Transfer to your registered contact information will have the funds auto-deposited — no security question, no manual acceptance.