AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
Interac says each financial institution sets its own e-Transfer limits, so the cap you hit when funding a remittance app comes from your Canadian bank or credit union, not from the app or from Interac. If a Nigeria send is larger than your limit, you can ask your bank whether it will change it, split the funding across days, or fund the transfer another way the app accepts, such as a bank debit or a debit card.
Who sets the limit
Interac's consumer FAQ answers the limit question in one line: "Each financial institution sets their own." It gives no daily, weekly or monthly figures and points customers to their bank or credit union. That is why two people funding the same app on the same day can have very different ceilings, and why your limit may differ between online banking and the mobile app of the same bank.
Banks commonly set more than one limit: per transfer, per day and over a rolling period. Your online banking usually shows the remaining amount when you start an e-Transfer. Check that screen before you start the remittance, not after.
How the limit meets the remittance app
Apps use e-Transfer in two ways. LemFi's help centre, for example, lists Interac Autodeposit (you send to a LemFi-issued Interac email) and Interac Request Money (you start a request in the app and approve it in your bank), alongside Apple Pay and Google Pay. Remitly's Canada-to-Nigeria page lists Interac e-Transfer with debit, prepaid and credit cards and bank account funding, and notes that its promotional rate applies when you pay with a bank account or Interac.
Either way the money leaves your bank as an e-Transfer, so your bank's cap applies. If you try to fund C$4,000 and your remaining daily e-Transfer room is lower, the bank will refuse or the request will fail, and the app will show the transfer as unpaid.
Worked example
Example only, figures invented for illustration: Tunde in Winnipeg needs to send C$5,000 for his sister's school fees in Ibadan. His bank shows C$3,000 of e-Transfer room left today. His options:
| Option | What happens | Watch for |
|---|---|---|
| Ask the bank to raise the limit | If agreed, one C$5,000 funding | Bank may ask why; the app's own limit still applies |
| Split over two days | C$3,000 today, C$2,000 tomorrow | Two transfers, two fees, two rates |
| Fund by bank debit in the app | Separate from e-Transfer limits | May take longer to clear |
| Fund by debit card | Card limits apply instead | Fee and rate may differ |
Splitting means two exchange rates and possibly two fees, so add both up before you decide. The app shows the rate and the fee for each transfer before you approve.
Asking your bank to change the limit
- Check in online banking whether there is a self-service limit setting. Some banks offer one; others need a call or branch visit.
- Have the purpose ready. Saying the money funds a transfer to family in Nigeria through a named app is normal.
- Ask whether the change is temporary or permanent, and whether it affects your other payment limits.
- If the bank declines, ask what alternatives it offers, such as a wire. Our guide to raising your bank's international limit covers wires.
Things that are not a limit problem
- A cancelled e-Transfer. Interac says you cancel in your online banking, and once deposited "there is no way to reverse the transaction"; a cancellation fee may apply depending on your bank.
- The app's own sending limit. Apps cap amounts by verification level. Raising your bank limit does not raise the app's.
- Card cash-advance treatment. If you switch to a credit card, the FCAC notes that issuers often treat wire transfers and money orders as cash advances, with fees and interest from day one. See funding a transfer by credit card.
Autodeposit and Request Money: which limit bites
With an Autodeposit address (the app gives you an Interac email to send to), you start the e-Transfer from your bank, so your bank's sending limit applies to that one payment. With Request Money, the app sends you a request and you approve it in your bank; the approval is still an outgoing e-Transfer from your account, so the same limit applies. The difference is practical: a request can expire if you do not approve it in time, and an Autodeposit payment sent to the wrong email address may not reach the app at all. Copy the address from the app each time rather than from an old message.
If the app shows the funding as pending for longer than its usual window, check your bank first. A payment that left your bank has a reference you can give the app's support team. A payment your bank refused will show in your bank's history as declined or cancelled, and nothing will reach the app.
Keeping the cost down when you split
- Compare the total cost of one large transfer at a raised limit with two smaller transfers. A fixed fee charged twice can outweigh any rate difference.
- Rates move between days. If you split, you take two rates; neither is predictable in advance.
- Keep each transfer's receipt. Two receipts for one purpose, such as school fees, should be filed together. See keeping remittance receipts.
Where Pryme fits
Pryme is a technology company, not a bank. Outside Nigeria its activities are carried out through regulated partners, and Naira deposits are held by a licensed Nigerian microfinance bank, regulated by the CBN and insured by the NDIC up to the applicable limit. You can fund your Canadian-dollar balance and then send to a Nigerian account; the app shows the rate and the fee before you approve.
Questions people ask
What is the Interac e-Transfer limit in Canada?
There is no single limit. Interac says each financial institution sets its own, so check your bank's online banking or ask it.
Why did my e-Transfer to the remittance app fail?
Often because it exceeded your bank's remaining daily or rolling e-Transfer limit, or the request expired. Check your bank's history and the app's payment status.
Can I raise my e-Transfer limit to send money to Nigeria?
Some banks let you change limits in online banking or on request. Ask your bank; the remittance app's own limit still applies.
Is it cheaper to fund a remittance with Interac or a card?
It depends on the app. Remitly, for example, says its promotional rate applies to bank account or Interac funding. Compare the fee and rate shown before you approve.
Sources
- Interac: Frequently asked questions (consumers) · accessed Oct 2026
- LemFi Help: Add money from Canada · accessed Oct 2026
- Remitly: Send money from Canada to Nigeria · accessed Oct 2026
- FCAC: How credit cards work · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.