What is the EQ Bank Interac e-Transfer limit?

EQ Bank's Interac e-Transfer limits are $3,000 per transaction, $10,000 per day, and $30,000 per month. These are the standard Interac network limits — the $3,000 per-transaction cap is a network-wide ceiling that applies at every Canadian financial institution, not only EQ Bank. There is no formal limit on incoming e-Transfers.

Are Interac e-Transfers free at EQ Bank?

Yes. EQ Bank includes unlimited free Interac e-Transfers on the Savings Plus Account at no cost. There are no per-transaction fees and no monthly cap on the number of e-Transfers. This is one of EQ Bank's core differentiators — the Savings Plus Account provides chequing-like e-Transfer functionality on a savings account, without a monthly fee.

Does EQ Bank support Autodeposit?

Yes. EQ Bank supports Interac Autodeposit, which allows incoming e-Transfers to be deposited automatically without requiring you to log in and accept each one. Set up Autodeposit in EQ Bank Online Banking under e-Transfer settings. Once registered, anyone sending to your registered email or phone number will have funds deposited directly — no security question required.

Can I receive direct deposit at EQ Bank?

Yes. The EQ Bank Savings Plus Account supports direct deposit — you can provide your employer or CRA with your EQ Bank account details for payroll, tax refunds, and government benefits. To set up direct deposit, log in to EQ Bank Online Banking, navigate to Account Details, and use the transit number (00003) and institution number (623) along with your account number. A void cheque equivalent (direct deposit form) is available to download from the app.

How do I send large amounts to or from EQ Bank?

For amounts above $3,000 in a single transfer, use EFT (electronic funds transfer) rather than Interac e-Transfer. EQ Bank supports EFT links to external bank accounts — you can initiate a push or pull transfer directly through EQ Bank Online Banking. EFT transfers typically take 1–3 business days and have higher limits than Interac e-Transfer. For very large transfers, EQ Bank also accepts incoming wire transfers.

Can Simplii Financial or Tangerine send e-Transfers to EQ Bank?

Yes. Interac e-Transfer works across all Canadian financial institutions that support it — you can send and receive e-Transfers between EQ Bank, Simplii Financial, Tangerine, and any Big 5 bank account. Many Canadians who use EQ Bank for savings and Simplii or Tangerine for everyday chequing move funds between them via e-Transfer or linked EFT.

EQ Bank e-Transfer Limit 2026 | Send & Receive Limits

EQ Bank’s Savings Plus Account includes unlimited free Interac e-Transfers with no monthly cap. The per-transaction limit of $3,000 and daily limit of $10,000 are set by the Interac network — these caps apply equally at every Canadian financial institution.

Because the Savings Plus Account is both a savings and transactional account, EQ Bank’s e-Transfer capability is one of its defining features. Most high-interest savings accounts at traditional banks do not support e-Transfers — EQ Bank does, at no cost.

EQ Bank e-Transfer Limits

Limit	Amount	Notes
Per transaction (send)	$3,000	Interac network maximum — applies at all institutions
Daily send limit	$10,000	Resets midnight ET
Monthly send limit	$30,000	Calendar month
Receive limit	No formal cap	No maximum on incoming transfers
Cost	$0	Unlimited free e-Transfers included

EFT Transfers: Moving Larger Amounts

For amounts above $3,000 in a single transaction, Interac e-Transfer is not the right tool. EQ Bank supports EFT (electronic funds transfer) links to external accounts:

Method	Limit	Speed	Cost
Interac e-Transfer	$3,000/transaction	Minutes	$0
EFT (linked external account)	Higher (varies by account)	1–3 business days	$0
Incoming wire transfer	No cap	1–3 business days	Sending bank fee

To set up an EFT link in EQ Bank Online Banking: go to Transfers → Add External Account → enter your other bank’s transit number, institution number, and account number. EQ Bank will verify the link with a small test deposit before enabling transfers.

Setting Up Direct Deposit at EQ Bank

EQ Bank supports direct deposit for payroll, CRA tax refunds, CPP, OAS, EI, and other government payments.

EQ Bank routing details for direct deposit:

Institution number: 623 (Equitable Bank)
Transit number: 00003
Account number: Your personal account number (found in EQ Bank Online Banking → Account Details)

A downloadable direct deposit form (void cheque equivalent) is available in EQ Bank Online Banking and the app. Most employers and government agencies accept this form in place of a physical void cheque.

CRA direct deposit: Log in to My CRA Account at canada.ca → Direct Deposit → enter institution 623, transit 00003, and your account number. Allow 1–2 payment cycles for the change to take effect.

Autodeposit Setup

Autodeposit eliminates the security question step for incoming e-Transfers, making deposits instant and removing interception risk.

Log in to EQ Bank Online Banking
Go to e-Transfers → Autodeposit
Register your email address or mobile phone number
Select which EQ Bank account receives auto-deposited transfers
Confirm via the verification email

Once enabled, incoming e-Transfers to your registered contact information deposit automatically — no login required by the recipient.

Using EQ Bank as a Primary Account: e-Transfer Workflow

Many Canadians use EQ Bank as a primary savings account paired with Simplii Financial, Tangerine, or a Big 5 chequing account. A common workflow:

Payroll direct deposits to EQ Bank Savings Plus Account (earns competitive rate immediately)
Weekly or bi-weekly e-Transfer to a linked chequing account for day-to-day spending
Bill payments paid directly from EQ Bank where accepted (or via linked chequing)
GIC purchases funded from Savings Plus when specific savings goals are met

This workflow keeps the bulk of savings in EQ Bank earning the competitive rate, with only the spending buffer sitting in the lower-rate chequing account.