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Alterna Holds HISA Funds 5 Days
July 17, 2017
2:36 pm
Nehpets
Ontario
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I learned today that Alterna places a hold of 5 days on deposits made when transferring (push) funds from another financial institution, restricting withdrawals during that period.

I made a deposit on July 12, and could not withdraw some of those funds today, July 17..until after midnight July 17.

Good to know if funds might be needed in a hurry.

July 17, 2017
3:35 pm
JenE
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May 24, 2016
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EQ has a 5 business day hold on deposits!

July 21, 2017
9:53 am
Norman1
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Nehpets said
I learned today that Alterna places a hold of 5 days on deposits made when transferring (push) funds from another financial institution, restricting withdrawals during that period.

I made a deposit on July 12, and could not withdraw some of those funds today, July 17..until after midnight July 17.

July 12 to July 17 is only four business days. As well, I don't see holds on funds pushed in.

Instead of a hold, is it possible you had reached one of Alterna Bank's Me-to-Me Transfer limits of $50,000 in 7 days and $125,000 in 30 days?

July 21, 2017
1:05 pm
Loonie
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the transfer limit on incoming is 100K in a day; 250/wk.

August 28, 2017
1:45 pm
newmoney
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June 19, 2017
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Yes this is mentioned on their website.

For security reasons, there may be a 5 business day hold on incoming Me-to-Me transfers.

https://www.alternabank.ca/Personal/EverydayBanking/Me2Me/

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