Avoid Debit Fraud

At Alterna, we take fraud prevention and the security of your accounts very seriously.

Debit cards and digital payment methods provide are convenient ways to make financial transactions, but it’s important to take steps to protect yourself from unauthorized access and fraudulent activity on your accounts. Alterna’s dedicated fraud team monitors transactions seven days a week to help protect your accounts. While we work hard to keep your information secure, the security of your account also depends on the steps you take to protect your card, PIN, banking credentials and personal information.

Protect yourself by following these tips:


Protect your PIN

• Your PIN is your electronic signature. Memorize your PIN and don’t write it down.
• Shield the keypad when entering your PIN at an ATM or point-of-sale terminal.
• Do not lend your debit card or disclose your PIN to anyone - you’re the only person who should know your PIN.
• Contact Alterna Bank immediately if you suspect someone else may know your PIN.
• Do not choose numbers for your PIN that would be easy to detect if your card is lost or stolen. For example, don’t use your birth date, address, or part of your telephone or social insurance number.
  
  

Protect your card and digital wallet

• Your debit card provides access to your account. Notify Alterna Bank immediately if your card is lost, stolen or compromised.
• Keep your debit card in view at all times when completing transactions.
• Always remember to take your debit card and receipt after completing a transaction.
• Secure digital wallets such as Apple Pay or Google Pay with strong password, PIN and biometric authentication where available.
• Ensure your device operating system and digital wallet applications have the latest security updates.
• Contactless payments are secure, but a lost or stolen card may be used for unauthorized purchases. Regularly monitor your account activity and report suspicious transactions immediately.
• Review your cardholder responsibilities as outlined in the liability section of your debit card agreement to avoid being liable for losses.
• Travelling outside Canada? Let us know before you travel so our fraud team can better recognize legitimate transactions from unfamiliar locations. Submit your travel dates and destinations through our contact us form.
  • Subject Line – Alert for Travel outside of Canada
  • Message – be sure to include your travel dates and the countries of travel
• Destroy expired or replaced debit cards securely

Notify Alterna immediately if your debit card is lost, stolen or compromised in any way. Once you have reported your card, you will not be responsible for unauthorized transactions that occur after notification has been received. Please contact our 24-hour card cancellation line at 1.888.807.4101. If you are unable to reach an Alterna employee directly, please leave a message.

Protect your banking credentials
Your banking credentials are the keys to your account and should never be shared.

Remember: 

• Use strong, unique passwords or passphrases for your financial accounts.
• Enable multi-factor authentication whenever it is available.
• Never share one-time passcodes, verification codes, passwords or PINs, even if the request appears to come from a financial institution.
• Never approve a multi-factor authentication request that you did not initiate.
• Verify phone calls, emails, text messages and website links before providing personal or financial information.
• If you receive unexpected authentication prompts, deny the request and contact Alterna immediately.
  

What to do if you suspect you are a victim of debit fraud

If you believe your card, account or banking credentials have been compromised: 

• Contact Alterna immediately to request that your card be cancelled. You can call our toll free number 1.888.807.4101 or in Ottawa call 613.560.0160.
• Change any affected passwords and security credentials.
• Visit a branch to report suspicious activity and obtain a replacement card and/or PIN.
• Continue monitoring your account and report any unauthorized transactions as soon as possible.