Senior account Good Life chequing to be discontinued June 1, 2018 | Alterna Bank | Discussion forum

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Senior account Good Life chequing to be discontinued June 1, 2018
May 26, 2018
6:34 pm
Norman1
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Looks like Alterna Bank (bricks and mortar) is discontinuing their in-branch Good Life chequing account, for seniors age 59+, after the end of this month.

The account is a one of those rare traditional senior accounts with unlimited transactions, no monthly fee, a free order of cheques each year, and a free money order each month.

The account appears in the current fee schedule. It disappears from the upcoming fee schedule that will be effective June 1. After that, seniors 59+ will just receive a discount on the monthly fee on other chequing accounts.

Not clear whether current holders of the Good Life chequing account will be grandfathered or not.

May 26, 2018
9:06 pm
Loonie
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this is what I was told by an Alterna rep a couple of years ago:

Email 21/11/2016: “The ‘Good life Package’ is not something that is available for Digital Banking Clients. The only Chequing account available for our digital bank account clients is the e-Chequing account. Yes there is a charge for ordering cheques on the e-Chequing account the charge is currently $43.93 for a book of 50 cheques. The Good life Chequing package is only offered for non-Digital bank clients. If you were to come into the branch and open up a new Alterna Bank account, you would be able to have a Good life package however it would be under a completely different account portfolio and would not be joint with your Digital Bank account, this is because the Digital bank clients and regular Alterna Bank client accounts operate very differently based product offerings and service available to them.
We recommend you open up the e-Chequing account since the Good life Chequing account cannot be linked to your digital portfolio and you would have to come into the branch to open up an all new Alterna Bank account.”

I concluded I didn't want this account.

May 27, 2018
5:57 am
Norman1
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Thanks for sharing that, Loonie.

The information is useful for another thread that explores the possibility of multiple divisions within Alterna Bank. I've pasted a copy of the information there.

May 27, 2018
7:20 am
Loonie
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Yes, I guess it does relate to that other thread. I'd really forgotten about the details but remembered the 'Good Life' part and knew I had something about that.
You'd think that in the interim they would have worked out something more transparent!sf-confused

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