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Email this2:41 pm
December 20, 2016
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From email today:
We’re writing to inform you of an important change to your HISA account that takes effect immediately on June 3, 2022. We’re reducing the maximum limit for money coming into your account via Electronic Funds Transfer to $100 per transaction, per day.
Please note that you can still move money into your account via Interac e-Transfer® (fees may apply) and via remote deposit capture. Limits can be found within the updated on our Deposits Disclosure website.
Stephen
4:55 pm
September 7, 2018
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Nehpets said
From email today:We’re writing to inform you of an important change to your HISA account that takes effect immediately on June 3, 2022. We’re reducing the maximum limit for money coming into your account via Electronic Funds Transfer to $100 per transaction, per day.
Please note that you can still move money into your account via Interac e-Transfer® (fees may apply) and via remote deposit capture. Limits can be found within the updated on our Deposits Disclosure website.
Stephen
Does that mean the maximum for me-to-me transfers (pulled) into one's Wyth HISA is only $100? If so, that seems really low and one might need to do a push from the external account or use mobile deposit to get more than $100 into the Wyth acct.
5:26 pm
March 30, 2017
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Nehpets said
From email today:We’re writing to inform you of an important change to your HISA account that takes effect immediately on June 3, 2022. We’re reducing the maximum limit for money coming into your account via Electronic Funds Transfer to $100 per transaction, per day.
Please note that you can still move money into your account via Interac e-Transfer® (fees may apply) and via remote deposit capture. Limits can be found within the updated on our Deposits Disclosure website.
Stephen
I still think/believe it’s a typo lol $100 limit for eft ?! Seriously ! My daughter was sending bigger amount than that when she was a minor lol
5:09 am
December 20, 2016
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The new policy does seem bizarre, but might this be the first step in strangling incoming funds to WYTH in the EQ Bank takeover of WYTH?
Stephen
5:15 am
November 18, 2017
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One must wonder if this is a cynical attempt to suck Interac fees out of clients, whereas PAD/PAD is free.
RetirEd
RetirEd
10:07 am
April 6, 2013
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Interac e-Transfer fees are usually collected by the financial institution of the sender of the funds and not by the one of the receiver.
Pushing funds at Wyth is not affected. According to their Deposits Disclosure, one can still push out funds electronically up to $50,000 per request and up to $50,000 per day.
For some reason, now one can't electronically pull in more than $100 per request or more than $100 per day.
6:42 am
December 20, 2016
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Called WYTH this morning for clarification and was repeated the prepared talking points that the change is for "my security" with no further rational explanation.
Stephen
11:04 am
October 21, 2013
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Perhaps they had a breach they aren't ready to talk about, or came too close to one and haven't yet solved the problem. Then it really would be for your security. Otherwise, doesn't make any sense.
12:09 pm
December 20, 2016
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Loonie said
Perhaps they had a breach .....
Agreed, in which case I see their behavior as a red flag to move funds out ASAP. Irrational behavior by a FI does not instill confidence.
Stephen
12:31 pm
October 21, 2013
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I agree.
I have never had any money at Wyth. I'm waiting to see how it all washes out with EQ. I don't have any money to speak of there either and am not fond of EQ!
12:57 pm
February 7, 2019
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Loonie said
I agree.
I have never had any money at Wyth. I'm waiting to see how it all washes out with EQ. I don't have any money to speak of there either and am not fond of EQ!
What's wrong with EQ?
| CGO |
4:39 pm
October 21, 2013
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I have given my reasons in numerous other posts and don't feel like writing it all out again.
1:37 pm
April 21, 2022
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If you think the new EFT limit is a bit odd, how about today's email indicating they are increasing their HISA rate to 1.8% tomorrow.
2:45 pm
April 11, 2020
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Just emailed with Wyth back and forth:
"To transfer a larger sum of funds to your HISA to purchase a GIC you can use Interac e-transfer, mobile cheque deposit (150k limit) or initiate the electronic funds transfer from the sending financial institutions platform."
"Yes, if you send the money from your other financial institution, Wyth will accept larger amounts."
3:17 pm
April 21, 2022
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Fritz23 said
Just emailed with Wyth back and forth:"To transfer a larger sum of funds to your HISA to purchase a GIC you can use Interac e-transfer, mobile cheque deposit (150k limit) or initiate the electronic funds transfer from the sending financial institutions platform."
"Yes, if you send the money from your other financial institution, Wyth will accept larger amounts."
Interesting! Does that mean the restriction on EFT transfers, be they push, or pull, are restricted when initiated on the Wyth online banking site? From what you wrote, it appears that EFT push and pulls initiated at other institutions are not restricted for moving funds in, or out of Wyth? If true, why did Wyth not clarify their policy when they announced the restriction early in June?
7:40 am
September 30, 2017
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Fritz23 said
Just emailed with Wyth back and forth:
..."Yes, if you send the money from your other financial institution, Wyth will accept larger amounts."
That is interesting. I thought it is a savings account. Nonetheless, I go to EQ bank and try to link up Wyth. Lo & behold, Wyth pop up on the search 
... not going further at today's rate though. Let me know if anyone completed the link and send successfully ?
5:45 pm
September 30, 2017
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... crickets? It's been 2.25% since early August & my Tangerine promo expired. So I decided to do the link up from Tangerine.
- Download a void cheque from Wyth
- Use info on the cheque to initial the linking process on Tangerine
- Wait for the two micro-deposit to arrive on Wyth
- Report back the amounts to Tangerine to complete the linking rocess
Only took me 2 days 
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