Deposit Anywhere is a new feature of the Alterna Mobile Banking App that will allow members to conveniently, quickly and securely deposit Canadian cheques on their iOS and Android devices by taking a picture of the physical cheque.
Ways to Bank
Here at Alterna Bank, we know our customers are always on the move and need to be able to access their banking conveniently and seamlessly. So whether you're on the bus or at home relaxing in front of the TV, we made sure you can log in on just about any device. How's that for anywhere, anytime banking?
Safe and secure access to your accounts
We are committed to providing a safe and secure banking experience. While using our online and mobile banking, the integrity of your account information is guaranteed.
Alterna Bank Mobile App
Access your accounts anytime, anywhere available on iOS and android. No need to set up new passwords or security codes, use the same login and password for online banking.
Click to download the app here:
View your account activity, balances and recent transactions. Deposit your cheques easily with Deposit Anywhere™
Add a bill payee, pay bills now, setup recurring or future bill payments. View and edit upcoming scheduled bills and transfers.
Easily transfer money between your accounts. Send money to anyone with a banking account at a Canadian Financial Institution with Interac® e-Transfer.
Get quick access to your acounts with Touch ID and 3D Touch. Improved account activity filters and search. Manage, configure, and receive alerts.
Deposit Anywhere makes cheque depositing a snap.
Mobile banking is all about convenience, timesaving and the freedom to bank anywhere, any time you choose. Deposit Anywhere gets you one step closer.
Quickly and securely deposit cheques with your smartphone or tablet. So whether you’re at coffee with friends, at work, or staying up late to get your banking done—from now on any time is the right time to deposit cheques.
Say goodbye to line ups at the branch and at the ATM. And say goodbye right now by downloading our mobile banking app to your mobile device. Once you do, you’re ready to Deposit Anywhere.
Here’s how it works:
- Open your Alterna Bank Mobile Banking app on your smartphone
- Select your account
- Enter the amount
- Snap a photo of the front and back of your cheque
- Confirm the details
- Send. That’s it.
Then throw your cheque away. (Yes. We just said that.)
Once you’ve deposited your cheque, you can throw it out after 90 days—or the time we set for you. It’s safe to do so as the cheque will have been completely processed with any and all queries settled by that time. Don’t worry if you make a mistake, as we’ll double-check everything. If you have any questions, just contact us.
Fast & Secure.
Deposit Anywhere is a free* service for personal members and just as secure as physical cheque cashing. Plus, it’s fast. Most people complete their deposit in less than a minute and can do it from anywhere and at any time, day or night.
*Non-personal members may be subject to additional fees. Please review the Deposit Anywhere FAQs.
What is Deposit Anywhere?
How does it work?
What mobile devices is Deposit Anywhere available on?
What are the benefits of Deposit Anywhere?
Can anyone use the service?
After using the service, how long does it take for funds to be deposited?
What should be done with the physical cheque after it has been deposited via Deposit Anywhere?
Is there a cost to use Deposit Anywhere?
Is there a maximum dollar amount that can be deposited daily?
Is there a limit on the number of cheques that can be deposited using the service?
What if the member takes a bad picture of their cheque?
What types of cheques can be deposited using Deposit Anywhere?
What types of cheques cannot be deposited using Deposit Anywhere?
Is there a risk of fraud with Deposit Anywhere?
Does Deposit Anywhere work the same way for Business Online Banking?
Interac® e-Transfer – just like sending cash, only better!
With one simple transaction, you can send money directly to practically anyone in Canada. There’s no need for cheques or visits to an ATM. Plus, it’s secure – there’s no sharing of bank information, all you need is an email address.*
Sending and receiving money with Interac e-Transfer® is quick, convenient & easy, from start to finish.
Sending an Interac e-Transfer®
From your online or mobile banking, simply follow these steps and you're on your way!
- You need to have your recipient's name and email address or mobile phone number, and the knowledge that they have a deposit account at a Canadian bank or credit union.
- Log into online banking. If you’re not set up yet, call us to get your temporary password.
- Select Transfers from the menu on the left, then Interac e-Transfer®.
- Set up your Sender Profile by inputting your email address as indicated and following the prompts.
- Set up your recipient(s) by entering their name and email address on the Add/Delete Recipients page. If you’d like to notify your recipient by text, enter their mobile phone number.
- Create a security question that only they will know the answer to. If it's a friend, for example, the question might be: "How do you like your eggs?" (For security reasons, the message field that allows you to leave a note for your recipient must not contain the answer to your security question.). Feel free to call or text your friend to let them know what the answer to the security question is (it’s not recommended to email it to them).
- When your Sender Profile and Recipient(s) are setup, select your recipient from the dropdown list on the Send Interac e-Transfer® page. Input the amount you'd like to send*. (NOTE: Your account will be debited the amount you have sent once you click Send Transfer.) Interac e-Transfers® are classified as a day-to-day transaction and if applicable a day-to-day transaction fee will be applied when you send an Interac e-Transfer depending on your banking package or the savings account that you send the Interac e-Transfer from. Please refer to our Personal Service Fee Listing for further information
Receiving an Interac e-Transfer®
Notification will be sent to your recipient by email and/or text that you have sent them an Interac e-Transfer®. With the click of a link, they’ll be able to log in to access the funds using their desktop computer, laptop computer, or smartphone. Whatever device they decide to use, your recipient will be walked through a very simple and easy-to-use interface to deposit the money right in their own bank account.
But first, in order to claim the funds and complete the transfer, the answer to the security question you created in step 6 (for example, “Scrambled”) must be answered correctly.
Cancelling an Interac e-Transfer®
Interac e-Transfers® can be cancelled or stopped only if the recipient hasn’t yet received the funds. There is no fee for cancelling e-Transfers, however service fees will not be refunded.To cancel an Interac e-Transfer®.
- Sign into online banking.
- Go to Transfers -> Send Interac e-Transfer
- Select the View: Pending option located above the ‘Transfer To’ section.
- Click on ‘Cancel’ beside the e-Transfer you want to stop.
- Click ‘Continue’ to submit the cancellation and re-deposit the funds to your account.
- If the cancellation is successful, you’ll see a ‘Cancel Interac e-Transfer® Receipt’ screenQuestions?
Check out our list of frequently asked questions.
24 Hour Limit
Business and Community Members
24 Hour Limit
We may put a hold on your funds when you deposit a cheque in a personal account at Alterna Bank, either through Deposit AnywhereTM, ATM, mail, or in-branch. This means you will not be able to access the bulk of that cash for a limited period of time.
ATM deposits are treated the same whether they are cash, cheque or other type of payment. All deposits at an ATM follow our Access to Funds policy.
The hold periods vary depending on the type of cheque you’re depositing, however, in most cases access to at least $100 of the deposit will be provided to you for your immediate use1. Cheques will be held for the following maximum number of business days2:
Max Days Held
|Cheques, drawn on Canadian financial institution, deposited in person||Up to, and including, $1,500||4|
|Cheques, drawn on Canadian financial institution, deposited in person||Greater than $1,500||7|
|Cheques, deposited through ATM||Up to, and including, $1,500||5|
|Cheques, deposited through ATM||Greater than $1,500||8|
|Cheques, deposited through Deposit Anywhere||Any amount||8|
|Cheques, received by mail||Greater than $1,500||5|
|Cheques, deposited to an Alterna Bank account (retail & business)||Any amount||3|
|Cheques, including United States||Any amount||30|
The length of time you’ve dealt with Alterna and your present account standing may also have an impact on whether your deposited funds will be held. Please note that some cheques may require further confirmation. This means that the funds will be credited to your account only if and when we confirm that the funds to cover the deposited cheque have been received.
Questions? Contact us!
If you need to send or receive money quickly and safely across the country or internationally, a wire transfer (sometimes also called a wire payment) is often the best option.
When you send or receive a wire transfer, certain information must be included to satisfy compliance and regulation requirements, including those under anti-money laundering and anti-terrorist financing laws and regulations applicable to all Canadian financial institutions. This information will also assist us in ensuring that your payment is processed efficiently and accurately. Missing or incorrect information may result in additional fees charged to you, or deducted from the principal amount of the wire transfer.
Today, most wire payments are processed by financial institutions in Canada and globally using a secure system managed by the Society for Worldwide Interbank Financial Telecommunication (SWIFT).
Please note that the transfer details must be completed EXACTLY as shown. Once this is completed, you then provide the routing information to the ordering customer (ie. the sender) so you can receive your wired funds.
Proceeds of Crime (Money Laundering) and Terrorist Financing Act regulations amendments are taking effect on June 1, 2021 to improve the effectiveness of Canada’s anti-money laundering and counter-terrorism financing regime and align with the international standards. All domestic and international SWIFT MT103 (or MX equivalent) and international non-SWIFT Electronic Funds Transfers (‘EFTs’) must be updated to include additional information related to the beneficiary, as well as the requirement for information related to the ordering customer.
- Canadian Currency (CAD) Incoming Wire Transfers to Canada from within Canada.
- U.S. Currency (USD) Incoming Wire Transfers to Canada from the U.S.
- U.S. Currency (USD) Incoming Wire Transfers from Canadian or International financial institution (other than USA).
Alterna Debit Card
Quick, convenient account access around town - or the world
With your Alterna Debit Card, you can conveniently:
- Pay for purchases at point-of-sale terminals (POS) instead of using cash
- Each card is equipped with chip technology and Interac® Debit contactless payments
Interac® Debit contactless payments
Introducing Interac® Debit contactless payments - a contactless payment feature of your Alterna Debit Card. Pay for smaller purchases faster and easier.
Look for the Interac® Debit contactless payments logo on payment terminals at the checkout when you make your purchases and follow these simple steps:
- Look for the Interac® Debit contactless payments logo and contactless wave symbol on POS terminals at thousands of your favourite Canadian retailers, fast food outlets, gas stations, and movie theatres
- Simply hold your Alterna Debit Card up to the payment terminal
- You’ll know your transaction has been completed when you see the “Approved” message or hear the beep.
- Instantly withdraw cash from a worldwide network of ATMs (and it’s surcharge-free from an Alterna, ACCULINK® or THE EXCHANGE® Network ATM)
- Change your PIN at any Alterna or ACCULINK® ATM, or nationwide at THE EXCHANGE® Network ATMs*
Know your debit card limits:
As with your current Alterna Debit Card, personal daily limits will continue to apply to your Alterna Debit card for cash withdrawals or purchases at chip and Interac® Debit contactless payments enabled terminals.
If you don’t know your limits, or need to speak with a representative about changing them, call us. A Contact Centre representative will be happy to help.
Debit Card Agreements
- New clients effective July 12, 2017: Debit Card Agreement
- Existing clients effective November 13, 2016 - July 11, 2017: Debit Card Agreement
- Existing clients opened prior to November 13, 2016: ATM Access Card Agreement
*Always be vigilant about protecting your PIN to prevent unauthorized activity. Available to personal and individual business members (sole proprietors) only.
Interac is a registered trademark of Interac Inc. used under license. To learn more, visit interac.ca.
Cash withdrawals, deposits and balance inquiries for your accounts are at your fingertips from any of our Alterna ATMs. Alterna Bank cardholders have access to thousands of surcharge-free ATMs with The EXCHANGE® Network.
In the United States, access over 3,000,000 ATMs and POS terminals with the ACCEL Networks and Allpoint Network surcharge-free! Anywhere else in the world, get access to your funds through more than 800,000 ATMS worldwide with the CIRRUS® (International) Network.
We are here for you.
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