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Interac e-Transfer for Business Through TD Business Central

Instant Payment Basics

Interac e-Transfer through TD Business Central delivers funds to any Canadian bank account holder in minutes. Business accounts support $25,000 per transaction with Autodeposit, bulk sending and request-for-payment capabilities. Over 300 Canadian financial institutions participate in the Interac network, making this the most widely accessible instant payment method in the country.

Sometimes you need money to arrive now. Not tomorrow. Not in two business days. Right now. That is what Interac e-Transfer delivers for Canadian business payments.

TD Business Central elevates the standard Interac e-Transfer experience from a consumer tool to a proper business payment channel. Higher limits, bulk sends, Autodeposit for seamless collections and full integration with your transaction reporting and account summary dashboards. When a contractor finishes a job and needs same-day payment, or when a customer overpayment needs an immediate refund, Interac e-Transfer is the answer.

How Interac e-Transfer Works for Business

Interac e-Transfer moves funds between participating Canadian financial institutions through the Interac network. The process is instant, secure and works with any recipient who has a Canadian bank account and email address or mobile number.

Sending Payments

From the TD Business Central dashboard, navigate to Interac e-Transfer and enter the recipient's email address or mobile number, the payment amount and an optional message. The funds are debited from your selected account immediately. If the recipient has Autodeposit enabled, the money arrives in their account within minutes without any action required on their part.

If the recipient does not have Autodeposit, they receive an email or text notification with instructions to deposit the funds. They select their financial institution, log in and the funds are deposited. Unclaimed transfers expire after 30 days and are automatically returned to your account.

Receiving Payments

Enable Autodeposit on your TD Business Central account to automatically receive incoming Interac e-Transfers. Register your business email address — any e-Transfer sent to that address is deposited into your designated account without manual intervention. This is essential for businesses that receive frequent customer payments or client deposits via e-Transfer.

Autodeposit eliminates the security question and answer process entirely. It is faster, more secure and prevents the common issue of recipients entering the wrong security answer. The Bank of Canada has noted the growing adoption of instant payment methods in Canadian commerce, and Autodeposit is a key enabler of that trend.

Interac e-Transfer Limits and Features by Account Type

Business accounts on TD Business Central have significantly higher Interac e-Transfer limits compared to personal accounts. Here is a detailed comparison of capabilities.

Feature Business Account Personal Account
Per-Transaction Limit $25,000 $3,000
Daily Limit $50,000 $10,000
Weekly Limit $100,000 $25,000
Monthly Limit $250,000 $50,000
Bulk Sending Yes (up to 200 per batch) No
Autodeposit Yes (business email) Yes (personal email)
Request for Payment Yes Limited
Transaction Reporting Full dashboard integration Basic history
Dual Authorization Configurable threshold Not available

Business Use Cases for Interac e-Transfer

Interac e-Transfer is not just for splitting restaurant bills. Canadian businesses use it daily for legitimate commercial payment scenarios where speed and simplicity outweigh the need for batch processing infrastructure.

Contractor and Freelancer Payments

Pay contractors and freelancers instantly upon project completion. No waiting for EFT settlement. No wire transfer fees. A graphic designer finishes your marketing assets at 4 PM — send $5,000 via Interac e-Transfer and they have it before dinner. This speed builds loyalty and attracts top talent who prefer fast-paying clients.

Customer Refunds

Process refunds in minutes instead of 5-10 business days. When a customer overpays an invoice or returns a product, an instant e-Transfer refund creates a dramatically better experience than waiting for a cheque or EFT reversal. Pair with TD Business Central's request-for-payment to collect and refund through the same channel.

Small Vendor Payments

Not every vendor needs a formal EFT payment or wire transfer. For small, irregular vendor payments under $25,000 — office supplies, catering, equipment rentals — Interac e-Transfer is faster and simpler. No banking details to collect, no file uploads, no batch processing. Just an email address.

Employee Expense Reimbursements

Reimburse employee expenses on the same day they submit receipts. Travel costs, client entertainment, parking — send reimbursements via e-Transfer instead of adding them to the next payroll cycle. Employees appreciate immediate reimbursement, and your AP team avoids cluttering payroll with non-salary line items.

Interac e-Transfer Security for Business

Security is foundational to every Interac transaction. Funds never travel by email — only a secure notification is sent. The actual money moves through encrypted bank-to-bank channels operated by Interac.

Bank-Level Encryption

Every Interac e-Transfer is protected by the same encryption standards used for online banking. The Interac network connects over 300 participating financial institutions through secure, monitored channels. Fraud detection algorithms analyze transaction patterns in real time, flagging unusual sending behaviour before funds leave your account.

TD Business Central adds platform-level controls on top of Interac's native security. Configure dual authorization for e-Transfers above a specified threshold, restrict sending to approved email addresses only, and set IP-based access controls to prevent unauthorized initiation.

Autodeposit Eliminates Interception Risk

The biggest security risk with traditional e-Transfers is interception — a fraudster compromises the recipient's email and deposits the funds before the intended recipient. Autodeposit eliminates this risk entirely by depositing funds directly into the registered account without requiring email interaction.

TD Business Central strongly recommends enabling Autodeposit for all business accounts. It is faster, more secure and removes the human error of weak security questions. For supplier payments received via e-Transfer, Autodeposit ensures funds arrive without delay or intervention.

Interac e-Transfer FAQs

Business accounts on TD Business Central have a default Interac e-Transfer sending limit of $25,000 per transaction and $50,000 per day. Weekly limits are $100,000 and monthly limits are $250,000. These limits are configurable by your account administrator and can be increased by contacting your TD relationship manager.

Autodeposit automatically deposits incoming Interac e-Transfers into your designated TD Business Central account without requiring you to answer a security question. Register your business email address through the Interac e-Transfer settings. Once enabled, any e-Transfer sent to that email is deposited automatically within minutes.

Yes. Upload a CSV file with recipient email addresses, amounts and optional messages. The platform processes each transfer individually but allows batch submission of up to 200 transfers per file. Bulk sends are ideal for contractor payments, refunds, incentive disbursements and small vendor payments.

Yes. Interac e-Transfer uses bank-level encryption and authentication. Funds never travel by email — only a notification is sent. TD Business Central adds dual authorization for transfers above configurable thresholds, IP-based access controls and transaction monitoring for anomalous patterns.

Business accounts offer higher limits ($25,000 per transaction vs $3,000 personal), bulk send capabilities, Autodeposit for business email addresses, detailed transaction reporting, request-for-payment functionality and configurable dual authorization. Business accounts fully integrate with the TD Business Central dashboard.

Related Payment Services

Interac e-Transfer is perfect for instant low-value payments. For other payment scenarios, explore these TD Business Central services.

Wire Transfers

For high-value payments above $25,000 or international transfers requiring SWIFT routing and same-day settlement.

EFT Payments

Bulk domestic payments via CPA-005 files. Best for recurring payroll and vendor batches exceeding Interac limits.

Bill Payments

Pay registered Canadian billers for utilities, taxes and other recurring obligations with scheduling support.

Supplier Payments

End-to-end vendor payment management across all channels including EFT, wire, Interac and bill payment.

ACH Payments

Cross-border Canada-US payments via the ACH network for recurring US vendor and contractor disbursements.

Fund Transfers

Instant transfers between your own TD accounts with no fees and no limits on transfer amounts.