Interac e-Transfer - Comprehension Questions - Day 3

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Interac e-Transfer - Comprehension Questions - Day 3 - CLB3

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Interac e-Transfers are convenient because you can do them from anywhere. For some bank accounts, they are free. For other accounts, the bank charges you money for transactions. One account at CIBC charges a $2.00 fee to send e-Transfers and a $0.25 fee to received them but cancelling the transaction is $10.00. There is also a maximum limit you can send in one day. For this account, you cannot send more than $1,500 (one thousand five hundred).

1. Why are Interac e-Transfers convenient?

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They are very secure.

They don't cost a lot.

They can be done anywhere.

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2. For this account, how much does the bank charge to receive an e-Transfer?

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$ 0.25

$ 2.50

$ 0.50

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3. For this account, how much does CIBC charge to cancel the transaction?

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twenty five cents

ten dollars

two dollars

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4. Is there a maximum amount you can send?

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No, there isn't.

Yes, there is.

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