Personal Finance

E-mail Money Transfer Limits

  • Last Updated:
  • Jun 7th, 2021 8:26 pm
[OP]
Member
Jan 24, 2013
447 posts
420 upvotes
Rainy River

E-mail Money Transfer Limits

Has anyone had any luck getting these increased to more than $3000.00 per 24 hour period? I used to have HSBC who gave me $5000.00 per 24 hour period, but closed the account as I wasn't really using it much (was the old HSBC direct savings account-was renamed to something else). Anyhow, please let me know which banks are open to this if any.
3 replies
Deal Fanatic
Feb 4, 2015
8167 posts
4355 upvotes
Canada, Eh!!
Yes, can call in and get limits increased. Not bank dependent although some are more difficult to increase.

It is YMMV as probably depends on how long with bank, assets in accounts [including investments].

Some banks have bill pay or global transfer or similar which could be used in addition to e-mail transfer.
2022: BOC raised 4 times and MCAP raised its prime next day.
2017 to 2018: BOC raised rates 5 times and MCAP raised its prime next day each time.
2020: BOC dropped rates 3 times and MCAP waited to drop its prime to include all 3 drops.
Member
Aug 20, 2019
438 posts
309 upvotes
Toronto
Motive Financial allows you to use the $10k weekly limit in one day (so there's no daily limit I guess), but you're still limited to 3k per e-transfer, so you would have to send 3k, 3k, 3k and 1k. That can be done all on the same day to the same recipient, back to back and it'll take exactly 30 minutes to autodeposit or email to be received.

https://www.motivefinancial.com/en/abou ... /transfers

Weekly rolling limit = no more than 10k sent in the last 7 days (168 hours)
Adam
Sr. Member
User avatar
Dec 20, 2017
802 posts
961 upvotes
Just got a newsletter from BMO Treasury department informing me of new changes to etransfer.

June 14
Funds arrive within seconds when you send an e-Transfer directly to an account number or to an email address set up for Autodeposit at participating financial institutions.

Send funds to 50 recipients at once manually or by using templates. If you use File Transfer Facility (FTF) you can upload up to 100,000 payments in one file.

Access a shared company-wide recipient list and skip having to manually add a recipient to multiple users’ lists. Starting June 14, please update the security answers for recipients with security questions before sending them an e-Transfer.

Add reference details to your e-Transfers, such as invoice information, to make it easier to identify the purpose of a payment.

June 18
Receive funds within seconds to your account number or your Autodeposit-enabled email address.

July 8
Send up to $25,000 at once and avoid splitting up payments - ideal for larger purchases or payroll.
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