Resource Center

Frequently Asked Questions

Got questions? We’ve got answers! Here are some of our most frequently asked questions about online bill payments, mobile banking, debit chip cards and more.

If you don’t find the answer to your question, feel free to call us or send us an email - getintouch@alterna.ca a representative would be happy to help.

Frequently Asked Questions

You've got questions.

We've got answers.

Frequently Asked Questions

To become a member online you will need to:

  1. Be 18 years and over
  2. Be an Ontario resident
  3. Have your address, contact details and Social Insurance Number (SIN) handy
  4. Have an account at another Canadian financial institution so that we can confirm your identity
  5. Open an a personal account for personal use
  6. Make a on-time membership share investment of $15 CAD (funded from your first deposit)

If you have all of the required information on hand it should take under 10 minutes to complete the application!

Please give our Contact Centre a call at 1.877.560.0100 so we can book you an appointment at one of our local branches

Yes, you can by selecting your Chequing or Savings account at another Canadian financial institution.

Yes, you can still apply by choosing our two other funding methods,

  • Remote cheque deposit through our Mobile app
  • Mail in a cheque

When you bank with Alterna Savings, you are also a member. This $15.00 deposit covers the membership share which you will get back should you ever leave. As a member, you have the right to vote for the Alterna Savings Board of Directors and have a say in the way Alterna Savings operates.

We are confirming the information you provided. Please allow up 1-2 business days for an Alterna Savings Representative to connect with you.

In order to meet all FINTRAC requirements, we require additional information from other reliable sources. All documents must be in their original format therefore we cannot accept pictures or scanned documents.

A “soft” credit check may be pulled as part of our account opening process.

A “soft” credit check is a tool many FIs use when opening an account which serves as a background check on an individual. A soft credit check doesn’t impact your credit score and won’t be visible to other third parties who view your credit report.

We do not allow third party applications.

We do not allow third party applications. We will need to book you an appointment at one of our local branches.

If the $15 membership share required to join Alterna is not funded within 30 days, your account will be closed.

If the $15 membership share was not funded or initial deposit was charged back, your account was closed.

Yes. Each person is required to open an account online and once accounts have been opened and fully funded, you may complete the joint agreement form.

Our online application only allows you to open one product. Once your account has been opened and you have funded your membership share, you can give our Contact Centre a call at 1.877.560.0100 and we can open additional products for you.

If you applied for a Chequing account, you will automatically receive your debit card by mail 5-10 business days after your account is opened.

If you applied for an Investment Savings Account and requested a debit card during the application process, you will receive it by mail 5-10 business days after your account is opened.

Download and fill in the form. This form can be used in place of a void cheque for setting up or modifying direct deposit or pre-authorized debit or payment transactions. You can find the Identifier, Sub and Account number by logging in to mobile banking App, select Accounts, then the sub account (you are looking to get the full account number for) and click on account details.

You can find your account information by signing in to our mobile app, click account and account details.

Frequently Asked Questions

There are two options to view cheques online, you can view a single cheque or you can choose to view multiple cheques at once.

  1. Click on the account link within the ‘My Accounts’ section or click on the ‘View Account Activity’ link under the ‘My Accounts’ dropdown in the orange box on the upper left of your screen.

  2. Select the account that you want to view the cheque image from by using the dropdown box

  3. Choose your search parameters. For example, show 50 most recent transactions, date range or use the advanced search options and select ‘cheques only’ from the dropdown menu.

  4. Click the ‘Search’ button

  5. Click on the ‘Cheque Clearing’ link that is displayed within the ‘Account Activity’ breakdown.
  • The cheque number, clearing date and account from which the cheque was written are displayed within the ‘Account Activity’ screen of online banking.

  • When you click on the ‘Cheque Clearing’ link you will see a picture of the front of your cheque and you will also have the option to click on the ‘Show Back’ button which will display the back of the cheque.
  • The cheque images from your search criteria will be presented and you will see either the front or the front and back of the cheques depending on your search criteria selection.

  • The cheque number, clearing date and account from which the cheque was written are displayed within the ‘Account Activity’ section of online banking.

  • If you click on the ‘Cheque Clearing’ link you will see a picture of the front of your cheque and you will also have the option to click on the ‘Show Back’ button which will display the back of the cheque.

Yes, if you have searched for a single cheque and clicked on the ‘Cheque Clearing’ link you will automatically be displayed the front of the cheque. You have the option to see the back of the cheque by clicking on the ‘Show Back’ button. For multiple cheques you have the option to view the front and back by selecting this in your search criteria or you can follow the ‘Cheque Clearing’ link and utilize the ‘Show Back’ button.

Yes, you can right click your cheque image and select ‘Save As’. This action needs to be performed when viewing the front of the cheque image and when viewing the back of the cheque image if you wish to save the front and back of the cheque image to your computer.

Cheque image history currently goes back to April 2012 and will extend to a total of 24 months once we reach April 2014. After April 2014 history will be a rolling 24 months.

  • If you’re currently or in the past were using old style cheques which do not include your account suffix within the MICR (number coding on the bottom of your cheque) you will be unable to view the cheque images online.

  • To view a copy of one of these cheques please contact your branch and they will retrieve a copy internally for you.

Frequently Asked Questions

60 Day Term Deposit - For funds to qualify as new money and be considered for promotional rates, the funds need to be deposited on or after the start date of the promotional offer.

Funds cannot be withdrawn and re-deposited nor can they be transferred from an existing deposit account to another. Only new deposits that raise a member’s overall deposit balance with Alterna from what it was on the Promotional Start Date will be considered for promotional rates.

There is no specific number of days; it is dependent on the Promotional Start Date. If a member has deposited money for the purpose of purchasing an investment with Alterna, then those funds would be considered new as long as the deposit was made on or after the corresponding promotional start date.

Yes, if you’re depositing funds with Alterna for the purpose of investing but for whatever reason you’re unavailable to meet right away, these funds would be eligible. Again, as long as the funds are deposited on or after the Promotional Start Date. On a best effort you should be making an appointment with one of our bankers at the time of the deposit to indicate that the deposit was for investment purposes.

  • Deposit such as cash, cheque, PAD, Interac e-Transfer etc.
  • Payroll
  • Pension
  • Severance funds
  • Funds from another FI

Yes, funds advanced from an Alterna loan or line of credit for the purpose of investing are eligible for the new money promotional term deposits.

No, money withdrawn and re-deposited will not count as a new deposit. Only new deposits that raise your overall deposit balance with Alterna above what it was on the Promotional Start Date will be eligible to receive the promotional interest rates.

Promotional rates are subject to change without notice and are valid for the campaign period and are only guaranteed for a period of 30 days for investments transferred to Alterna (T2033).

Your financial well-being comes first

Welcome to a better way to bank. Our knowledgeable team puts your financial well-being first with good, caring and transparent advice while offering all the products and services you need.