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Interac e-Transfer limit too low for the job?
If the Interac e-Transfer limit is too low for a job, your customer can split it over several days, raise their limit with their bank, or pay the balance by credit card. The limit is set by their bank and account, so ask before the day you need it.
Why it happens
Each bank sets its own e-Transfer limits, per transfer, per day and over a rolling period, and they can differ between accounts. Your customer can see theirs in online banking. A bathroom or a roof can easily be more than they can send in one go.
What your customer can do
- Split it into several transfers over a few days, if you're happy to wait.
- Ask their bank whether their limit can be raised.
- Pay by cheque or bank draft.
- Pay some or all of it by credit card, which works up to their card limit and on the same day.
Taking the balance by card
A credit card also suits customers who want the points, or who'd rather pay it off over a couple of months. Send an invoice with a Pay button and they pay on their own phone by card, Apple Pay or Google Pay. See when each one is better.
The cost
A Canadian card costs 2.9% + C$0.30 through Stripe, and Knockround adds nothing. On a big job that's a real amount, so you may prefer e-Transfer where it works and a card for the rest. The card fee calculator shows you exactly.
Plan ahead
Mention the payment on the quote: how much at each stage, and how they can pay. Taking a deposit and progress payments also keeps each amount under the limit.
Questions
What's the maximum Interac e-Transfer?
It depends on the bank and the account. Your customer can check in online banking or ask the bank.
Do I have a limit for receiving e-Transfers?
Check with your own bank. Sending limits are the ones customers normally run into.
Try it on tomorrow’s work
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