Account Limits FAQ

How is interested calculated?

Interest is calculated daily on the closing balance and paid monthly. Interest rate is annualized and subject to change without notice.

Is interest paid above the account limit?

Although there is a maximum account limit any interest owed is always paid, regardless if it brings you above your account limit.

What happens if my balance exceeds the account limit?

If your account balance exceeds the account limit you will be contacted by an Alterna Bank representative who will review your options for moving your excess funds from your account.