Motusbank’s e-Transfer limits follow the standard Interac network: $3,000 per transaction and $10,000 per day. All e-Transfers are unlimited and free on the Motusbank chequing account.
Motusbank e-Transfer Limits
| Limit | Amount |
|---|---|
| Per transaction | $3,000 |
| Per day | $10,000 |
| Per 30 days | $30,000 |
| Receive | Up to $3,000 (set by sender’s bank) |
e-Transfer Fees
| Account | e-Transfer Cost |
|---|---|
| Chequing account | Free, unlimited |
| TFSA savings | e-Transfers not applicable |
| RRSP savings | e-Transfers not applicable |
Motusbank vs Competitors: e-Transfer
| Institution | Daily Limit | e-Transfer Fee | Savings Rate |
|---|---|---|---|
| Motusbank | $10,000 | $0 | ~3.10% |
| EQ Bank | $10,000 | $0 | ~3.50% |
| Manulife Bank | $10,000 | $0 | ~3.10% |
| Simplii Financial | $10,000 | $0 | ~0.10% |
| National Bank (Digital) | $10,000 | $0 | 0% |
| Tangerine | $10,000 | $0 | ~0.10% |
All Interac member institutions share the same network limits. The differentiators are fees, savings rates, and product breadth.
Autodeposit Setup
- Log in to Motusbank online banking
- Go to Interac e-Transfer → Autodeposit settings
- Register your email address or phone number
- Confirm via the verification link or code
Once active, incoming e-Transfers to your registered email or phone are deposited directly and automatically — no security question required from the sender.
Direct Deposit Setup
Motusbank is a federally chartered bank with its own institution number. To set up direct deposit:
- Log in to Motusbank online banking
- Navigate to Account Details or Direct Deposit Information
- Find your transit number, institution number, and account number
- Provide these three numbers to your employer or CRA
For CRA direct deposit: log in to My CRA Account at canada.ca → Direct Deposit → enter the numbers from your Motusbank account details.
Large Transfers Above $10,000/Day
| Method | Timeline | Fee |
|---|---|---|
| EFT (linked account transfer) | 1–3 business days | $0 |
| Wire transfer | Same day or next day | Fee — contact Motusbank |
Link an external bank account in Motusbank online banking and initiate an EFT for amounts above the daily e-Transfer cap. For same-day large transfers, contact Motusbank customer service.
Related Pages
- Motusbank Review
- Motusbank Fees
- Motusbank Savings Rate
- Motusbank Customer Service
- EQ Bank e-Transfer Limit
- Bank Reviews Hub
How Interac e-Transfer limits work in Canada
The $3,000 per transaction and $10,000 per day limits are set by Interac, the network that processes e-Transfers between Canadian financial institutions. Individual banks and credit unions cannot raise these network caps, though some institutions set their own internal limits lower.
These limits cover outgoing transfers. Receiving limits are set by the sender’s institution — if the sender is capped at $3,000, you can’t receive more than $3,000 in a single transfer regardless of what your account allows.
Common use cases and whether e-Transfer works
| Use Case | Amount | Works via e-Transfer? |
|---|---|---|
| Split a bill with a friend | $50–$200 | ✅ Yes |
| Rent payment | $1,000–$2,500 | ✅ Yes |
| Large rent payment (Toronto) | $2,500–$3,500 | ⚠️ May exceed $3K limit |
| Security deposit | $2,000–$5,000 | ⚠️ May require 2 transfers or EFT |
| Used car purchase | $10,000–$30,000 | ❌ Use EFT or bank draft |
| Contractor payment | $5,000–$20,000 | ❌ Use EFT or wire |
| Down payment | $50,000+ | ❌ Use bank draft (certified cheque) |
For transactions above $10,000 — particularly real estate deposits and down payments — a certified cheque or bank draft issued by Motusbank is the standard approach. Your lawyer or notary will specify which is acceptable.
Motusbank product overview
Motusbank is a digital bank owned by Meridian Credit Union, Ontario’s largest credit union. Products available include:
| Product | Key Details |
|---|---|
| No-Fee Chequing Account | $0 monthly fee; unlimited transactions including e-Transfers |
| TFSA Savings | Competitive interest rate; no monthly fee |
| RRSP Savings | Competitive interest rate; no monthly fee |
| Mortgages | Fixed and variable rate mortgages |
| HELOCs | Home equity line of credit |
The chequing account’s unlimited free e-Transfers are a key differentiator for everyday banking — no monthly fees, no per-transaction costs.