Your complete guide to e-Transfers withTangerine

Tangerine is an online-only bank¹ which offers a variety of services, including Interac e-transfers. Within Canada, Interac is a useful system which makes day to day spending and transfers simple. This article will go through how Interac e-transfers work with Tangerine, as well as its fees and limitations. It will also introduce you to Wise as an alternative for international transfers.

How to send and receive a Tangerine e-Transfer

Sending an Interac e-transfer with Tangerine is simple³:

1. Log into Tangerine and select Interac e-Transfer
2. Provide the recipient's details, the account the money is coming from, the amount and the date of the transaction
3. If the recipient does not have autodeposit enabled, you'll need to set up a security question and answer
4. Press next to confirm these details
5. Review and press send - your money will be on its way

If your contact is already saved, you'll be given the option to select them without needing to re-input all the details again. This will save you time, particularly if you're making transfers regularly to the same accounts.

When making a security question, ensure it is only something that you and your recipient know. Do not share it with others, or add it to the memo field. This additional security step helps prevent fraud and protect your transfer.

To receive an Interac e-transfer with Tangerine, you'll need to follow the following steps⁴:

1. Receive an email or SMS to let you know about the transaction
2. If you have Interac e-Transfer Autodeposit set up, the funds will be automatically deposited into your account, and you don't need to do anything else
3. If Autodeposit isn't set up, click on the link on your notification, and you'll be directed to Tangerine's online banking service
4. Follow the instructions to deposit the money. You'll need to answer the sender's security question
5. Follow the instructions on-screen to confirm the transaction, and the funds will be deposited
6. Both you and the sender will receive a notification to confirm that the transaction has been completed

When receiving an e-transfer, stay vigilant to scams. If you're not expecting a payment, make sure to confirm with the sender through other means. A legitimate Interac e-transfer message will contain the sender's full legal name and have an email field of notify@payments.interac.ca.

Tangerine e-Transfer limits

Whilst Interac's transfer limits are unlikely to affect your day-to-day banking, they are important to consider, particularly if you are planning on making larger transactions.

Minimum transfer amount

There is no minimum transfer amount for an Interac e-transfer. You can send as little as 0.01 CAD.

Maximum transfer amount

Tangerine follows Interac's limits for e-transfers. Interac sets daily, weekly and monthly e-transfer limits, which are different depending on whether you are sending or receiving.⁵

Tangerine e-Transfer limits at a glance

Whilst these limits are unlikely to affect your day-to-day spending, you may need to plan ahead to e-transfer large amounts of money over a period of several days, weeks or even months. This may make it unsuitable for regular, large payments such as rent, or paying for big-ticket items such as a mortgage downpayment.

Tangerine e-Transfer fees and costs

Before you use Tangerine for Interac e-transfers, it's important to know the fees and costs you might meet along the way. Here's what you need to know.

Transaction fees

Interac e-transfers from Tangerine are free. However, some financial institutions charge to receive an Interac e-transfer. This means that your recipient might be charged to accept any money you send them in this way. In this case, it may be deducted from the funds you have sent or added as a surcharge.⁶

Currency conversion charges

As Interac is a domestic Canadian system, you can't use it to send money abroad. If you use Tangerine to convert your CAD to a foreign currency to spend with your card abroad, you won't use Interac.

Instead, Tangerine uses its own exchange rate, which may include an exchange rate markup. It also charges a 2.5% conversion fee.⁷ This means your overseas purchases might cost more than you expect once converted back to CAD.

Tangerine e-Transfer restrictions and limitations

Interac e-transfers through Tangerine can offer a convenient and safe way to transfer your money for most day-to-day transactions. However, daily, weekly and monthly limits make it unsuitable for larger transactions.

As Interac is a domestic Canadian system, you also can't use it to make international payments. Tangerine does not offer international wire transfers, so you'll need to look for alternatives when sending money abroad.

When sending an Interac e-transfer, your money will be instantly debited from your account⁸, but it can take up to 30 minutes to arrive in your recipient's account.⁹

Using Wise as a complement to Tangerine

Tangerine's Interac e-transfer service is helpful when making payments within Canada. However, its payment limits mean it might not be suitable for large transactions, and as you can't use it to send money internationally, you'll need to find another provider for this.

Consider using Wise, whose multi-currency account allows you to convert and hold money in over 40 currencies. Wise uses the mid-market rate, which tends to be more favourable than other providers, and instead uses only a single upfront fee, which starts at 0.48% for currency conversions from CAD.

Wise's transfer limits are up to 1.5 million CAD per day, depending on the transfer method. This means it may be better suited to the purchase of big-ticket items than Interac e-transfers. For larger payments, Wise also has a dedicated customer support team to guide you through every step of the way. Wise's percentage fees also decrease the more you convert over 35,000 CAD, potentially saving your money compared to other providers.

If you're not sure if Wise will provide the best value for money, try out the online conversion calculator, which shows the exact fee, exchange rate and how much money your recipient will get for your specific transfer.

Conclusion

Tangerine's Interac e-transfers are fast and convenient, but may not be suitable for all payments. It's important to understand the pros and cons in relation to how you plan on using these transfers.

For large and international transactions, consider Wise instead. As a specialist in these types of transfers, it may offer a lower cost and more efficient service than other providers, helping you make the most of your money.

Sources verified on 30 December 2025