The influence of transverse magnetic field on time-dependent peristaltic transport of electrically-conducting fluids through a microchannel under an applied external electric field with induced electric field effect is considered, based on lubrication theory approximations.The electrohydrodynamic (EHD) problem is also simplified under the Debye linearization.Closed-form solutions for the linearized dimensionless boundary value problem are derived.With increasing Hartmann number, the formation of bolus in the regime (associated with trapping) is inhibited up to a critical value of magnetic field. Flow rate, axial velocity and local wall shear stress are strongly decreased with greater Hartmann number whereas pressure difference is enhanced with higher Hartmann number at low time values but reduced with greater elapse in time. With greater electro-osmotic parameter (i.e. smaller Debye length), maximum time-averaged flow rate is enhanced, whereas the axial velocity is reduced. An increase in electrical field parameter (i.e. maximum electro-osmotic velocity) causes an increase in maximum time-averaged flow rate. The simulations find applications in electromagnetic peristaltic micro-pumps in medical engineering and also "smart" fluid pumping systems in nuclear and aerospace industries.