Personal Finance

Alterna Bank/Alterna Savings make Interac Etransfers free

  • Last Updated:
  • Apr 18th, 2018 6:38 pm
[OP]
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titaniumtux wrote:
Apr 9th, 2018 2:50 pm
In Ottawa, exchange paper notes for coins and coins for notes at any lotto centre. Don't need a brick and mortar for that.
Idk I guess I just like to go into the branch at times Smiling Face With Open Mouth And Cold Sweat
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NowInYOW wrote:
Apr 9th, 2018 8:14 pm
With all the revenue they are generating from the cannabis industry, you'd think they could loosen up the fees a little bit! (I've been an Alterna client since the fall, and while their services are cheap and cheerful, I would recommend them highly).

https://www.thestar.com/business/2018/0 ... would.html
+1

I take from the user name @NowInYOW that you're in Ottawa. Do you bank with Alterna? Who did you bank with prior to moving to O-town?
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titaniumtux wrote:
Apr 9th, 2018 8:31 pm
+1

I take from the user name @NowInYOW that you're in Ottawa. Do you bank with Alterna? Who did you bank with prior to moving to O-town?
I was a Canada Trust guy before the merger with TD, when I was still living in Toronto, and still maintain a ULOC there for when I need walk-in services. My main banking is with Tangerine, although I'm considering migrating to an Alterna eChequing account if I can convince the SO that it's worth the hassle of moving our payroll deposits.
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jacnel wrote:
Apr 9th, 2018 11:56 am
If you don't want in branch transactions I'd go with Alterna Bank since they offer great rates and no monthly fees, I think alterna bank also has some branch based accounts too but they don't advertise them on their website. Alterna on the other hand has more services like GICs, Mutual Funds and credit cards so you could go through them to get that. Personally I wish they would offer the alterna bank accounts to those with the credit union since DICO insures more than CIDC and I prefer credit unions over banks.
Do you know if you need to open a bank account with Alterna Savings just to get their credit card?

I already have an account with Alterna Bank so I don't want to open another bank account if I don't have to.
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[OP]
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minimalist wrote:
Apr 10th, 2018 2:35 pm
Do you know if you need to open a bank account with Alterna Savings just to get their credit card?

I already have an account with Alterna Bank so I don't want to open another bank account if I don't have to.
It says you need to be a member of Alterna to get the card, I’d try going to the branch and getting a membership share to take advantage of this,
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Nov 8, 2017
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Late comers into the game BMO and RBC have been doing this for a year or so
No fee account has some fees I guess
[OP]
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User455957 wrote:
Apr 16th, 2018 1:12 am
Late comers into the game BMO and RBC have been doing this for a year or so
No fee account has some fees I guess
Yeah, but Simplii a compareable bank just did this last year, and tangerine is still holding out. Plus the credit unions of Ontario usually don’t cover Etransfers, so in comparison to their competitors they’re looking good!
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I had Alterna briefly (2 months) and closed the account after some back and forth communication regarding their fund holding policy.

Story: incoming Me2Me transfer is treated as "risk" and subject to 5 bus day hold.
cheque deposit is "risk" even though it's been cleared from another bank account.
While The Exchange network is huge, your Alterna deposit is still subject to the hold policy without the first $100 availability as Tangerine/Simplii.
National Bank of Canada in BC already uses envelope-less ATM, which means Alterna should not hold your money the same way, yet still being held.

Since you guys live in ON, DUCA is already the best one, over here in BC, there are more CUs w/ included interact e Transfer.
@jacnel remember Tangerine Money transfer works for a non-tangerine account as well ;)
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dekvitaly wrote:
Apr 18th, 2018 5:11 pm
I had Alterna briefly (2 months) and closed the account after some back and forth communication regarding their fund holding policy.

Story: incoming Me2Me transfer is treated as "risk" and subject to 5 bus day hold.
cheque deposit is "risk" even though it's been cleared from another bank account.
While The Exchange network is huge, your Alterna deposit is still subject to the hold policy without the first $100 availability as Tangerine/Simplii.
National Bank of Canada in BC already uses envelope-less ATM, which means Alterna should not hold your money the same way, yet still being held.

Since you guys live in ON, DUCA is already the best one, over here in BC, there are more CUs w/ included interact e Transfer.
@jacnel remember Tangerine Money transfer works for a non-tangerine account as well ;)
Yeah, but it's not instant like the e-transfer :P
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yep @jacnel haha. If you have relative in BC, maybe you can borrow their address to qualify for some BC CUs hahaha. I advise everyone to refrain from dealing w/ Alterna tbh =)))
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dekvitaly wrote:
Apr 18th, 2018 5:22 pm
yep @jacnel haha. If you have relative in BC, maybe you can borrow their address to qualify for some BC CUs hahaha. I advise everyone to refrain from dealing w/ Alterna tbh =)))
Sadly I don't, all my family is Ontarian with the exception of my aunt from Northern Ireland. :P
I like credit unions. Proud DUCA member!

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