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Me to Me Transfers
December 24, 2017
8:42 am
file
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I don't currently have an account but was looking into them and was wondering if someone who is already a customer can answer a question (as I don't see it on the site). For Me to Me transfers can you schedule recurring transfers out?

December 24, 2017
9:45 am
SG
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No you cannot. They claim they don't have that functionality... Yet Implicity uses the same system and they allow you to set up recurring transfers

December 24, 2017
10:13 am
Top It Up
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ALL DEPENDS - check the FAQs on the link provided (although there is nothing specific with respect to "recurring transfers.)

The Alterna Difference - NEW! Me-to-Me Money Transfer Feature

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

December 24, 2017
10:56 am
Nehpets
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I never tried to set up recurring M2M transfers with Alterna, so I investigated my own account in response to this discussion.

Recurring transfers can be set up between Alterna accounts, eg personal account to/from Joint acct. However if an externally linked account is selected as the incoming or outgoing destination, the fields for setting up a recurring choice are removed from the webpage.

Incoming/outgoing recurring M2M transfers at Alterna are not possible.

I can see the rationale for doing so, to preclude the possibility of unintended /unexpected overdrafts.

Stephen

December 24, 2017
12:03 pm
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Quite unfortunate. I was thinking that maybe they'd do the same as Motive since the same underlying system as well and just require paperwork to do it. Silly! Since tons of credit unions are using the same underlying infrastructure you would think they'd standardize and also improve things. OH well!

April 4, 2018
6:56 am
ebun
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I recently opened an Alterna eSavings TFSA - you can now set up recurring and future dated M2M transfers! Looks like it's a new feature, and I was pleasantly surprised to see it.

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

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