Electronic Funds Transfer for Canadian bank accounts. Standard method for linking accounts to exchanges.
Transfer speed: 1-3 business days
Available in: CA
Many Canadian users fund through bank rails that look like EFT or pre-authorized bank transfer inside exchange apps. Kraken and other majors serving Canada commonly support Canadian bank funding options alongside Interac e-Transfer, depending on your account setup.
EFT-style deposits typically credit in 1 to 3 business days, and trading usually starts once the deposit is credited. If the exchange treats it like a reversible bank debit, withdrawal restrictions can apply until settlement completes.
EFT limits are exchange-defined and often tier-based. If you need higher limits, exchanges commonly push you toward wire or bank transfer products rather than consumer EFT style flows.
Name mismatches, insufficient bank account history for the linked funding method, and returns that trigger temporary restrictions are common. If your bank marks the debit as unusual, it can be reversed even after you think it is "done."
Interac e-Transfer is usually faster and easier for retail amounts, while EFT can suit scheduled, larger, less time-sensitive funding. If you care about speed, Interac is usually the first pick when your exchange supports it.