What Is Autodeposit?
Autodeposit is an Interac feature that lets you register an email address (or mobile number) so that any e-Transfer sent to that address is deposited automatically — without the recipient needing to answer a security question. The sender gets an immediate confirmation, and funds land in your account typically within minutes.
For businesses, this is a significant workflow improvement. Without Autodeposit, someone on your team needs to log into online banking and manually accept each incoming transfer. At any volume above a handful of transfers per week, that becomes a real operational burden.
Which Canadian Banks Support Business Autodeposit?
Most major Canadian financial institutions support Autodeposit for business accounts, though the setup process and limits vary:
- RBC: Supported for RBC business banking customers via RBC Online Banking for Business. Set up under "Interac e-Transfer settings."
- TD: Available through TD Business Banking Online. TD's default business receive limit is $10,000 per transfer; Autodeposit is supported within that limit.
- BMO: Supported for BMO business accounts. Set up in BMO Online Banking under Interac e-Transfer preferences.
- Scotiabank: Available for ScotiaConnect and Scotiabank business online banking users.
- CIBC: Supported through CIBC Business Banking online. Some CIBC business accounts have daily Autodeposit limits lower than $25K — confirm with your branch.
- National Bank: Supported for business clients through National Bank online banking.
- Credit unions: Many credit unions (Desjardins, Meridian, First West, etc.) support Autodeposit for business accounts, but you may need to request it specifically. Some smaller credit unions only support Autodeposit on personal accounts.
Business Autodeposit Limits
Interac sets the network-level limits, but your specific bank may set lower ones. Here's what to know:
| Account Type | Typical Daily Receive Limit | Per-Transfer Limit |
|---|---|---|
| Personal account | $3,000 – $10,000 | $3,000 |
| Business account (standard) | $10,000 – $25,000 | $10,000 |
| Business account (premium/negotiated) | Up to $25,000 | Up to $25,000 |
The $25,000 daily business limit is Interac's maximum as of 2026. Not every bank applies this limit by default — RBC and Scotiabank tend to offer higher limits for established business accounts, while some institutions start lower and require a call to increase. If you're regularly receiving transfers close to or above $10,000, call your business banking rep to confirm your limit and request an increase if needed.
How to Set Up Autodeposit for Your Business Account
The process is largely the same across banks:
- Log into your business online banking portal (not a personal account).
- Navigate to Interac e-Transfer settings — typically under "Transfers" or "Payments."
- Find the Autodeposit or "Auto-deposit" section and click to register.
- Enter the email address or phone number you want to use as your Autodeposit address. This should be a dedicated business email, not a personal Gmail.
- Interac will send a verification link to that email. Click it to confirm.
- Select which business bank account the deposits should land in. If you have multiple accounts, choose your primary operating account.
- Save and confirm.
Once active, anyone sending an e-Transfer to your registered email will have it automatically deposited within minutes. They do not need to set a security question or password.
Tip: Use a business email address that won't change (e.g., [email protected] rather than a Rogers or Bell email address that would be lost if you switch providers).
Security Considerations
Autodeposit removes the security question layer from incoming transfers. For businesses, this has meaningful implications:
What You Lose
Without Autodeposit, the sender sets a security question. If someone sends a transfer to the wrong email address, the recipient can't accept it without the answer. With Autodeposit, there is no such gate — if someone sends $2,500 to your registered address by mistake, it deposits automatically. The sender would need to file a dispute with Interac to get it back.
More seriously: if your registered email account is compromised, an attacker could potentially redirect incoming transfers. This isn't common, but it is a known attack vector.
What You Gain
Fraud via interception is actually lower with Autodeposit than without. Social engineering attacks (where fraudsters intercept a transfer by providing a fake security question answer) are a common e-Transfer scam. Autodeposit eliminates this attack entirely because the transfer goes straight to a pre-registered account — there's no interception opportunity.
Best Practices for Business Use
- Use multi-factor authentication (MFA) on the email account linked to Autodeposit. If that email is compromised, update your Autodeposit registration immediately.
- Don't publish your Autodeposit email on public websites unless you want unsolicited transfers.
- Reconcile incoming e-Transfers daily — Autodeposit can make it easy to miss unexpected deposits (or to miss that an expected payment hasn't arrived).
- For transfers over $10,000, consider whether a wire or EFT is more appropriate from a compliance and audit trail perspective.
Who Should Use Business Autodeposit?
Freelancers and Sole Proprietors
If you're a designer, consultant, copywriter, or other solo operator invoicing under $10,000 per transfer, Autodeposit eliminates a manual step and makes client payment frictionless. Clients appreciate not needing to set a security question. This is the most common use case and works extremely well.
Service Businesses with Repeat Clients
Trades, accountants, therapists, and similar service businesses collecting client payments work well with Autodeposit. Include your e-Transfer email on invoices alongside your business name so clients know exactly where to send payment.
Small Retail or Hospitality
Some small retailers and food vendors use e-Transfer as an informal payment method for regulars. Autodeposit works here, but the lack of a point-of-sale workflow (no receipt, no reconciliation integration) makes it cumbersome compared to a proper card processor at any real volume.
Not Ideal For
- Businesses regularly collecting payments above $10,000 per transfer (EFT or wire is better)
- E-commerce businesses (no cart integration; too manual)
- Businesses needing GST/HST split payments or automated accounting integration
Autodeposit vs. Pre-Authorized Debit (PAD)
For businesses collecting recurring payments, PAD agreements (think monthly memberships, retainers, subscriptions) are often a better fit than e-Transfer Autodeposit:
Autodeposit ✅ Better When
- Payment is client-initiated (they send to you)
- Amounts vary invoice to invoice
- No ongoing relationship / one-time payments
- You want zero processing fees (most banks include e-Transfer in business plans)
- Fast setup — no third-party processor needed
PAD ✅ Better When
- You initiate the payment pull (subscriptions, retainers)
- Payments are fixed and recurring
- You need automated reconciliation
- Client doesn't want to remember to send money each month
- You need a paper trail for compliance (PAD mandates have formal requirements)
See our full guide on Pre-Authorized Debit for Canadian billers for setup details and Payments Canada rules.
Fees for Business e-Transfer
Most Canadian banks include a limited number of Interac e-Transfers in their business banking plans. RBC's Business Essentials plan includes 5 e-Transfers per month; additional transfers are $1.50 each. TD and BMO have similar structures. Scotiabank's Select Business Account includes unlimited e-Transfers for a flat monthly fee. Some banks charge a monthly fee for Autodeposit registration — confirm with yours before assuming it's free.
At high volume (50+ transfers/month), the per-transaction fees add up quickly and a payment processor accepting EFT or credit card may be cheaper overall.
Bottom Line
Autodeposit is the right move for most Canadian small businesses and freelancers already using e-Transfer to collect payments. It removes friction for clients, eliminates the manual accept step for you, and actually reduces certain fraud vectors. Set it up, secure the associated email with MFA, and put your e-Transfer address on every invoice. For recurring billing or high-volume collection, pair it with PAD or a proper payment processor.