Personal Finance

Tangerine EMT/EFT Transfer Limits

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  • Dec 7th, 2020 12:21 am
[OP]
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Mar 23, 2004
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Markham

Tangerine EMT/EFT Transfer Limits

I know that Tangerine has a daily limit of 3k and a weekly limit of 10k for interac e-transfers. So I e-transferred 3k yesterday, and was about to do another 3k today. And then I get this error message:

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WTF???

Does anyone know what this weekly allowable limit is? I am sure I have transferred less than 10k out total (EFT/EMT) for the past 7 days so it's definitely not that.

Called Tangerine, currently waiting for a call back that may be more than 45 minutes :facepalm: (But hey, better than being put on hold)
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18 replies
Newbie
Sep 17, 2012
31 posts
24 upvotes
Brampton
I believe limit of 3k is for 24 hrs. Is it more than 24 hrs since your last transfer?
Member
Jan 24, 2004
484 posts
75 upvotes
simrannagra9 wrote: I believe limit of 3k is for 24 hrs. Is it more than 24 hrs since your last transfer?
Ya. They're pretty strict with the 3k per 24 hours.
[OP]
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Mar 23, 2004
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Markham
Just got a call back, looks like the latest 3k transfer that I am trying to do will indeed push through the 10k weekly limit. And I was told the limit will reset after the 1st transfer of the 7 days, but online it says after 7 days of the latest transfer. I am going to take the online version to be true.

Does anyone know how much I can transfer via EFT per transfer if that's the case?
Deal Addict
Jan 19, 2017
4461 posts
2588 upvotes
angel_wing0 wrote: Just got a call back, looks like the latest 3k transfer that I am trying to do will indeed push through the 10k weekly limit. And I was told the limit will reset after the 1st transfer of the 7 days, but online it says after 7 days of the latest transfer. I am going to take the online version to be true.

Does anyone know how much I can transfer via EFT per transfer if that's the case?
Technically they are correct to say 'after 7 days of the latest transfer.' if you had only 1 transfer in the last 7 days. But since you had multiple transfers in the last 7 days, then the 10k weekly limit will kick in. If you want to transfer more than that limit, you can call to request larger transfer for that particular case. TNG can transfer higher amt manually by a CSR.
Newbie
Sep 17, 2012
31 posts
24 upvotes
Brampton
angel_wing0 wrote: Just got a call back, looks like the latest 3k transfer that I am trying to do will indeed push through the 10k weekly limit. And I was told the limit will reset after the 1st transfer of the 7 days, but online it says after 7 days of the latest transfer. I am going to take the online version to be true.

Does anyone know how much I can transfer via EFT per transfer if that's the case?
Limits are usually rolling limits. For example if you had 2k transfer 7 days ago and then 1.3k each next 6 days, then your limit on 8th day is 2k only.
Deal Guru
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May 7, 2007
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angel_wing0 wrote: Just got a call back, looks like the latest 3k transfer that I am trying to do will indeed push through the 10k weekly limit. And I was told the limit will reset after the 1st transfer of the 7 days, but online it says after 7 days of the latest transfer. I am going to take the online version to be true.

Does anyone know how much I can transfer via EFT per transfer if that's the case?
And you didn't consider that / couldn't or didn't want to figure this out on your own?
Deal Guru
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May 7, 2007
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speaking about those daily / weekly / monthly limits ( for interac eTransfer ).

All banks pretty much have the same maximum amounts.

BUT ... lately I noticed something and was kind of impressed by it.

at HSBC it's a bit different ... like that for the outgoing:


Daily $7,000 CAD

Weekly $10,000 CAD

Monthly $40,000 CAD


https://www.hsbc.ca/online-banking/interac-e-transfer/
Deal Fanatic
Feb 4, 2015
6578 posts
2950 upvotes
Canada, Eh!!
You can call in and have limits increased
.......
July 13, 2017 to October 25, 2018: BOC raised rates 5 times and MCAP raised its prime rate next day each time.

2020: BOC dropped rates 3 times and MCAP waited and waited to drop its prime rate to include all 3 drops.
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May 7, 2007
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georvu wrote: You can call in and have limits increased
Good luck with that.

I strongly doubt they would do it for me ... or for mere mortals like me. :)
Deal Fanatic
Feb 4, 2015
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Canada, Eh!!
Darkman wrote: Good luck with that.

I strongly doubt they would do it for me ... or for mere mortals like me. :)
Already got increased limits... although more then needed so seems can not request a certain amount... rather the FI dictates increase level... probably based on evaluation of file.
.......
July 13, 2017 to October 25, 2018: BOC raised rates 5 times and MCAP raised its prime rate next day each time.

2020: BOC dropped rates 3 times and MCAP waited and waited to drop its prime rate to include all 3 drops.
[OP]
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Mar 23, 2004
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Markham
georvu wrote: You can call in and have limits increased
georvu wrote: Already got increased limits... although more then needed so seems can not request a certain amount... rather the FI dictates increase level... probably based on evaluation of file.
How much are your limits?
Deal Fanatic
Feb 4, 2015
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Canada, Eh!!
Think 20/20/50 or similar... yes, the daily and weekly are the same.

Was more then needed but could not request a specific amount. Once requested they tell you new levels. Did have to do over phone and this was in early summer.
.......
July 13, 2017 to October 25, 2018: BOC raised rates 5 times and MCAP raised its prime rate next day each time.

2020: BOC dropped rates 3 times and MCAP waited and waited to drop its prime rate to include all 3 drops.
[OP]
Moderator
User avatar
Mar 23, 2004
43168 posts
9112 upvotes
Markham
georvu wrote: Think 20/20/50 or similar... yes, the daily and weekly are the same.

Was more then needed but could not request a specific amount. Once requested they tell you new levels. Did have to do over phone and this was in early summer.
Just called, i was told that it's not possible, and the rep said she confirmed what she said against the interac e-transfer "article"...whatever the hell that means. Didn't bother to argue with her further on a Saturday night. Guess I will just use EFT to move money over that limit then.
Deal Fanatic
Feb 4, 2015
6578 posts
2950 upvotes
Canada, Eh!!
angel_wing0 wrote: Just called, i was told that it's not possible, and the rep said she confirmed what she said against the interac e-transfer "article"...whatever the hell that means. Didn't bother to argue with her further on a Saturday night. Guess I will just use EFT to move money over that limit then.
When I called the rep hooked us up to a higher up manager[?] before got increase.

Perhaps they have become more restrictive on limit increases due to pandemic? Or just their regular routine... kinda of how they are very restrictive on granting credit cards if you apply for them.
.......
July 13, 2017 to October 25, 2018: BOC raised rates 5 times and MCAP raised its prime rate next day each time.

2020: BOC dropped rates 3 times and MCAP waited and waited to drop its prime rate to include all 3 drops.
Newbie
Mar 3, 2018
37 posts
29 upvotes
San Francisco, Calif…
Darkman wrote: speaking about those daily / weekly / monthly limits ( for interac eTransfer ).

All banks pretty much have the same maximum amounts.

BUT ... lately I noticed something and was kind of impressed by it.

at HSBC it's a bit different ... like that for the outgoing:


Daily $7,000 CAD

Weekly $10,000 CAD

Monthly $40,000 CAD


https://www.hsbc.ca/online-banking/interac-e-transfer/
TD upgraded my limits earlier this year without asking, and CIBC did as well this fall. Hopefully more banks choose to up the limit.
San Francisco Bay Area, USA - Toronto, Ontario, Canada - Hong Kong
Koodo $40 / 6GB, $60 / 16GB
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May 7, 2007
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georvu wrote: Think 20/20/50 or similar... yes, the daily and weekly are the same.

Was more then needed but could not request a specific amount. Once requested they tell you new levels. Did have to do over phone and this was in early summer.
Just spoke to them.

According to the clerk i spoke to ... this only be done (currently anyhow) with Tangerine own email money transfer (that takes longer than Interac etransfer) ... that this can not be done with interac etransfer ...

to do "higher" the Tangerine own etransfer limit ... have to hook up with supervisor or someone higher up ... and they maybe able to do it to maximum of something like this:

20/20/20 .. (and not any higher ... as in your example of 20/20/50) .

But again .. it's according to the rep i talk to only ... he was somewhat hyper guy like me and conversation got a bit hyper / not so friendly, lol ...

So basically ... unless he misinformed me -- it currently should be the way i mentioned it above :)
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May 7, 2007
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852HKtse wrote: TD upgraded my limits earlier this year without asking, and CIBC did as well this fall. Hopefully more banks choose to up the limit.
Strange thing lol ..

Without even asking at that ... are you someone special or something, cuz they don't generally do those things and "without even asking for it" at that :)

What limits they gave you by the way ... ? ... both institutions. :)

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