Personal Finance

Alterna Bank High Interest eSavings Account

  • Last Updated:
  • Nov 12th, 2017 5:17 pm
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[OP]
Member
Aug 9, 2014
468 posts
94 upvotes
Toronto, ON
MehtabS wrote:
Apr 13th, 2016 9:01 am
It takes even longer than EQbank but I am happy with the result over all.
Can you confirm if they place a hold on the entire deposit when conducted?
Newbie
Aug 14, 2010
57 posts
9 upvotes
So I had to call in today because my password wasn't working for online banking.

I also opened a TFSA HISA with them (annoyingly can only be opened via phone not online), customer service is good so far and hold times on the phone have been non existent.

I also ordered 50 cheques online but it doesn't show me the price.

It will be debited from my account it said.

Find it odd they don't tell you the price.
[OP]
Member
Aug 9, 2014
468 posts
94 upvotes
Toronto, ON
sdg wrote:
Apr 13th, 2016 11:41 am
So I had to call in today because my password wasn't working for online banking.

I also opened a TFSA HISA with them (annoyingly can only be opened via phone not online), customer service is good so far and hold times on the phone have been non existent.

I also ordered 50 cheques online but it doesn't show me the price.

It will be debited from my account it said.

Find it odd they don't tell you the price.
I wonder if you can go on their Value package for a month, order the cheques and switch to an echequing
Deal Addict
Aug 29, 2012
3886 posts
985 upvotes
They don't have Hydro-Québec, the SAAQ or Revenu Québec as payees. I emailed them to ask if they would add them later.
As we all know, the Greater Toronto Area is the center of the universe!
Deal Addict
User avatar
Feb 25, 2014
2157 posts
314 upvotes
Mississauga
Poutinesauce wrote:
Apr 13th, 2016 12:47 pm
They don't have Hydro-Québec, the SAAQ or Revenu Québec as payees. I emailed them to ask if they would add them later.
Why not do preauthorized payments?
Oh sada kehra bapu karda black nee, Jehra tere shahir (Toronto), Le lawan flat nee
Deal Addict
User avatar
Feb 25, 2014
2157 posts
314 upvotes
Mississauga
here2day wrote:
Apr 13th, 2016 9:32 am
Can you confirm if they place a hold on the entire deposit when conducted?
I am not too sure if I am even going to use this account that much. But I am sure they follow standard practices which is to release $100 and hold the rest for 5 days.
Oh sada kehra bapu karda black nee, Jehra tere shahir (Toronto), Le lawan flat nee
Deal Addict
Aug 29, 2012
3886 posts
985 upvotes
n response to your email, We apologize for the inconvenience for no longer offering some billers like Hydro Quebec, Revenu Quebec, and Commission Scolaire Des Draveurs, and would like to provide some background as to the reason why.

When we originally requested permission from our billers to be included in our new online banking service, they were asked to provide their information and data in a specific format. Hydro Quebec and a few other companies chose not to accommodate our request, and therefore could not be included in our master list of billers.

We realize it would be much more convenient for our members if all companies could be included, but without their explicit permission, we’re unfortunately unable to add them.

You are still able to pay your Hydro Quebec from your Alterna account online, but you’ll need to set it up through www.hydroquebec.com. If you haven’t already done this, you’ll find some helpful information here. For other companies that are no longer available through Alterna’s online banking, please contact them directly to make alternate payment arrangements.
Well, that's a lame excuse to me.

MehtabS wrote:
Apr 13th, 2016 10:20 pm
Why not do preauthorized payments?
I don't like them. First I don't like to enter my bank account information in various places. Second, I want to control manually every instance where money goes out of my account, from a single place.
As we all know, the Greater Toronto Area is the center of the universe!
[OP]
Member
Aug 9, 2014
468 posts
94 upvotes
Toronto, ON
Poutinesauce wrote:
Apr 14th, 2016 12:59 pm
Well, that's a lame excuse to me.




I don't like them. First I don't like to enter my bank account information in various places. Second, I want to control manually every instance where money goes out of my account, from a single place.
I wonder if they would consider giving you a free cheque order because of this. I would say that's a fair compromise.
Newbie
Aug 14, 2010
57 posts
9 upvotes
So more headaches from Alterna.

I'm trying to setup direct deposit with my employer and nowhere on the website does it show me the transit, institution or even my eChequing account number.

I called in and they said they would email me a form within 48 hours (why does it take that long?).

Then the guy on the phone had to look up everything including my account number.

This is complete BS; I'm thinking of closing this account because of this nonsense.

Still no word on the cheques; nothing has been debited from my account to pay for them and the guy on the phone couldn't find anything about them.
[OP]
Member
Aug 9, 2014
468 posts
94 upvotes
Toronto, ON
sdg wrote:
Apr 19th, 2016 9:17 am
So more headaches from Alterna.

I'm trying to setup direct deposit with my employer and nowhere on the website does it show me the transit, institution or even my eChequing account number.

I called in and they said they would email me a form within 48 hours (why does it take that long?).

Then the guy on the phone had to look up everything including my account number.

This is complete BS; I'm thinking of closing this account because of this nonsense.

Still no word on the cheques; nothing has been debited from my account to pay for them and the guy on the phone couldn't find anything about them.
When I had an account with them the transit number was 00016, bank number 608 and the account number was the customer/portfolio number with "00101" added to the end of it. I'm not sure if this is the standard setup for the customer numbers, but this may help if you contact them with this information.

An alternative might be to call an Alterna Bank branch in Quebec as they would probably know more about this .
Newbie
Aug 14, 2010
57 posts
9 upvotes
here2day wrote:
Apr 19th, 2016 9:39 am
When I had an account with them the transit number was 00016, bank number 608 and the account number was the customer/portfolio number with "00101" added to the end of it. I'm not sure if this is the standard setup for the customer numbers, but this may help if you contact them with this information.

An alternative might be to call an Alterna Bank branch in Quebec as they would probably know more about this .
I just called them and they said the prefix is "10001".

Also someone is going to call me back about my cheque order.

This is annoying; cheque orders from Tangerine and PC Financial go smooth; money is debited right away (Tangerine) and everything is clearly laid out.

If something else goes wrong I'm closing my accounts.
Newbie
Aug 14, 2010
57 posts
9 upvotes
sdg wrote:
Apr 19th, 2016 10:12 am
I just called them and they said the prefix is "10001".

Also someone is going to call me back about my cheque order.

This is annoying; cheque orders from Tangerine and PC Financial go smooth; money is debited right away (Tangerine) and everything is clearly laid out.

If something else goes wrong I'm closing my accounts.
Just spoke to them and they said the cheques should arrive 5 to 10 business days after I placed the order (April 13) and that the amount ~$40 would be debited at that time from my chequing.
Newbie
Aug 14, 2010
57 posts
9 upvotes
Just tried to change my PIN at an ATM and it wouldn't let me.

It kept saying Invalid Transaction.

I'll be calling them tomorrow.
[OP]
Member
Aug 9, 2014
468 posts
94 upvotes
Toronto, ON
sdg wrote:
Apr 19th, 2016 8:25 pm
Just tried to change my PIN at an ATM and it wouldn't let me.

It kept saying Invalid Transaction.

I'll be calling them tomorrow.
Wow you keep hitting every possible roadblock with this account.
Newbie
Aug 14, 2010
57 posts
9 upvotes
here2day wrote:
Apr 19th, 2016 8:34 pm
Wow you keep hitting every possible roadblock with this account.
Yeah, if I hadn't already ordered cheques I'd close my account.

I wanted to have my payroll deposited.

The app is really nice and there's an ATM literally a few minutes walk from me.

I'm hoping this works out for me.

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