Alterna Bank profile, discussions, and reviews

Website: https://www.alternabank.ca
Headquarters: Ottawa, Ontario
Parent company: Alterna Savings
Credit union? No
Available to Quebec residents? Yes
Founded in: 2000

Disclaimer: Although our best efforts are made, the information posted on this website is not guaranteed to be accurate. Please visit their website for authoritative information.

Latest discussions about Alterna Bank -- view all

Forum/Topic Started Last post Posts

Alterna Bank

Alterna's New GIC Rates

October 26, 2018
8:05 am by
GR
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December 1, 2018
9:06 pm by
Loonie
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15

Alterna Bank

Alterna Bank 12 month 3% offer

November 23, 2018
12:19 pm by
Koogie
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November 23, 2018
12:19 pm by
Koogie
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1

Alterna Bank

Alterna Bank - Savings & TFSA Rates both at 2.25% as of October 30, 2018

October 30, 2018
3:37 am by
SG
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November 12, 2018
1:03 pm by
Londonguy
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4

Alterna Bank

Alterna Bank 12 Month E-Term Deposit (TFSA, RRSP Eligible) 3%

October 31, 2018
8:32 pm by
SG
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October 31, 2018
9:06 pm by
Peter
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2

Alterna Bank

Profile of Alterna CU CEO

September 26, 2018
12:15 am by
Loonie
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September 26, 2018
12:15 am by
Loonie
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1

14 Reviews »

  1. Customer service: Rated 4 / 5 stars

    Account features: Rated 2 / 5 stars

    Interest rates (consistency and amount): Rated 5 / 5 stars

    Fees: Rated 4 / 5 stars

    Interface (online, telephone, in-person, etc.): Rated 4 / 5 stars

    How long have you banked with them?: Not banked very long, only a few weeks.

    Why do you bank with them?: High interest rate on savings

    What do you like about this bank / credit union?: They have high interest rates

    What could be improved about this bank / credit union?: Need to have ability to transfer funds electronically directly through other financial institutions instead of going through e transfers.

    General comments: Other on line financial institutions can transfer seamlessly between each other without incurring e transfer fees. Wish Alterna would do that.

    Review by Herb — April 15, 2016 @ 12:08 pm

  2. Customer service: Rated 1 / 5 stars

    Account features: Rated 1 / 5 stars

    Interest rates (consistency and amount):

    Fees:

    Interface (online, telephone, in-person, etc.): Rated 1 / 5 stars

    How long have you banked with them?: No thanks

    Why do you bank with them?: No way

    What do you like about this bank / credit union?: Nothing at all. Dangerous

    What could be improved about this bank / credit union?: Close doors

    General comments: This bank is dishonest. Watch out. Do not deposit your money. Won't get it back. They take it and you have little or no access to it.

    Review by Louise — August 25, 2016 @ 7:08 pm

  3. Customer service: Rated 5 / 5 stars

    Account features: Rated 4 / 5 stars

    Interest rates (consistency and amount): Rated 5 / 5 stars

    Fees:

    Interface (online, telephone, in-person, etc.): Rated 3 / 5 stars

    How long have you banked with them?: 1 month

    Why do you bank with them?: high interest account

    What do you like about this bank / credit union?: no fees, high interest account

    What could be improved about this bank / credit union?: Mobile app

    General comments: n/a

    Review by Spazz — September 29, 2016 @ 3:01 pm

  4. Customer service: Rated 1 / 5 stars

    Account features: Rated 4 / 5 stars

    Interest rates (consistency and amount): Rated 5 / 5 stars

    Fees: Rated 5 / 5 stars

    Interface (online, telephone, in-person, etc.): Rated 1 / 5 stars

    How long have you banked with them?: not able to open account

    Why do you bank with them?: would like to but they don't seem to want my money

    What do you like about this bank / credit union?: interest rates

    What could be improved about this bank / credit union?: setting up an account process. I applied for a savings account on line. They sent me an email telling me to send them a cheque so they could link the account, so I did. They kept sending me emails requesting a cheque and one day I got a letter back from them with my cheque (and no account set up). Not sure I want to bank with an institution that doesn't even know how to set up an account.

    General comments: At first I was blaming Canada post but obviously they got my cheque. I had even put the REF number for my application on the cheque.

    Review by Steven — February 11, 2017 @ 12:17 pm

  5. Customer service: Rated 3 / 5 stars

    Account features: Rated 5 / 5 stars

    Interest rates (consistency and amount): Rated 5 / 5 stars

    Fees: Rated 5 / 5 stars

    Interface (online, telephone, in-person, etc.): Rated 4 / 5 stars

    How long have you banked with them?: 4 months

    Why do you bank with them?: high interest rate

    What do you like about this bank / credit union?: high interest rate

    What could be improved about this bank / credit union?: better online interface

    General comments: laid back bank

    Review by lou — April 9, 2017 @ 4:06 pm

  6. Customer service: Rated 5 / 5 stars

    Account features: Rated 5 / 5 stars

    Interest rates (consistency and amount): Rated 5 / 5 stars

    Fees: Rated 5 / 5 stars

    Interface (online, telephone, in-person, etc.): Rated 5 / 5 stars

    How long have you banked with them?: Almost 40 years (they were once the government employee credit union based in Ottawa) About 20 years in Toronto, starting with Metro Credit Union before the merger.

    Why do you bank with them?: They are NOT a big bank. I prefer credit unions.

    What do you like about this bank / credit union?: Friendly, welcoming, great service.

    What could be improved about this bank / credit union?: They meet all of my needs so I can't think of anything.

    General comments: I left a big bank and moved everything to Alterna years ago. I've never regretted it.

    Review by Julie Biddle — July 15, 2017 @ 2:37 pm

  7. Customer service: Rated 5 / 5 stars

    Account features: Rated 4 / 5 stars

    Interest rates (consistency and amount): Rated 5 / 5 stars

    Fees: Rated 5 / 5 stars

    Interface (online, telephone, in-person, etc.): Rated 5 / 5 stars

    How long have you banked with them?: 1 year

    Why do you bank with them?: high interest rate, close to a physical location

    What do you like about this bank / credit union?: Very high interest rate. Customer service in-branch has been very helpful, even though I've only ever had an online account. I had to set up the account completely online and through email, but the branch was able to give me and my wife our debit cards and have been very helpful.

    What could be improved about this bank / credit union?: Customer service on the phone and in branch were very helpful, but not at all knowledgable about the online banking products. I had to direct them to their own website to convince them there was an e-savings account offering 1.9% interest.

    General comments: worth the trouble of moving some money to get that sweet, sweet interest rate.

    Review by Matthew — July 21, 2017 @ 6:54 am

  8. Customer service: Rated 5 / 5 stars

    Account features: Rated 5 / 5 stars

    Interest rates (consistency and amount): Rated 5 / 5 stars

    Fees: Rated 5 / 5 stars

    Interface (online, telephone, in-person, etc.): Rated 5 / 5 stars

    How long have you banked with them?: 1 year

    Why do you bank with them?: Best rate and easy to do business with

    What do you like about this bank / credit union?: Online banking at it best!

    What could be improved about this bank / credit union?: Easier and faster transfer from other bank

    General comments: Nice surprise to find them

    Review by Norm — August 16, 2017 @ 10:37 am

  9. Customer service:

    Account features: Rated 5 / 5 stars

    Interest rates (consistency and amount):

    Fees:

    Interface (online, telephone, in-person, etc.): Rated 5 / 5 stars

    How long have you banked with them?: One month.

    Why do you bank with them?: High interest rates especially with TFSA.

    What do you like about this bank / credit union?: Funds are CDIC insured. Appears to be a well run organization and there’s a corporate attitude, noticeable in their phone representatives, which attempts to treat their customers in the best way possible.

    What could be improved about this bank / credit union?: Their opening an account process could be perfected and made easier to understand. I ran into a few glitches. Although bank to bank transfers are easy on a computer, they should expand that capability to their mobile app.

    General comments: I’m very happy with this bank. I’m glad I found it.

    Review by Joe — January 27, 2018 @ 8:19 am

  10. Customer service: Rated 1 / 5 stars

    Account features: Rated 2 / 5 stars

    Interest rates (consistency and amount): Rated 3 / 5 stars

    Fees: Rated 2 / 5 stars

    Interface (online, telephone, in-person, etc.): Rated 2 / 5 stars

    How long have you banked with them?: not long

    Why do you bank with them?: not anymore

    What do you like about this bank / credit union?: like very little about it

    What could be improved about this bank / credit union?: To much to list...Client services, on line services cannot use bill payment for Hydro Quebec or Quebec gov.Taxes The bank doesn't offer same product as the credit union sister company. Practically no branch in Quebec to serve you.

    General comments: Any bank or credit union is better don't waste your energies or time.

    Review by J.D — February 15, 2018 @ 9:27 am

  11. Customer service: Rated 1 / 5 stars

    Account features: Rated 2 / 5 stars

    Interest rates (consistency and amount): Rated 3 / 5 stars

    Fees: Rated 3 / 5 stars

    Interface (online, telephone, in-person, etc.): Rated 1 / 5 stars

    How long have you banked with them?: 2 years

    Why do you bank with them?: Looking for higher savings rate

    What do you like about this bank / credit union?: Not much!

    What could be improved about this bank / credit union?: Improve customer service.

    General comments: Terrible customer service.

    Review by Bill — April 23, 2018 @ 4:33 am

  12. Customer service: Rated 5 / 5 stars

    Account features: Rated 5 / 5 stars

    Interest rates (consistency and amount):

    Fees:

    Interface (online, telephone, in-person, etc.): Rated 5 / 5 stars

    How long have you banked with them?: Almost 2 years

    Why do you bank with them?: High interest rates, no fee for debit transactions, great customer service, trustworthy

    What do you like about this bank / credit union?: Trustworthy, Customer services

    What could be improved about this bank / credit union?: Some things like T5 delivery and direct deposit documents could be made available online

    General comments: Great overall experience

    Review by Chinmaya — May 1, 2018 @ 1:36 pm

  13. Customer service: Rated 1 / 5 stars

    Account features: Rated 3 / 5 stars

    Interest rates (consistency and amount): Rated 2 / 5 stars

    Fees: Rated 3 / 5 stars

    Interface (online, telephone, in-person, etc.): Rated 1 / 5 stars

    How long have you banked with them?: 2 years

    Why do you bank with them?: Initial promo offer

    What do you like about this bank / credit union?: Not much

    What could be improved about this bank / credit union?: Online credit/mortgage application is terrible.

    General comments: Very poor customer service and confusing website.

    Review by Bill — June 4, 2018 @ 12:49 pm

  14. Customer service: Rated 4 / 5 stars

    Account features: Rated 3 / 5 stars

    Interest rates (consistency and amount): Rated 4 / 5 stars

    Fees: Rated 5 / 5 stars

    Interface (online, telephone, in-person, etc.): Rated 2 / 5 stars

    How long have you banked with them?: Over a year

    Why do you bank with them?: High TFSA interest rate

    What do you like about this bank / credit union?: High TFSA interest rate

    What could be improved about this bank / credit union?: Add online banking option to transfer funds from TFSA account.

    General comments: There is no option to transfer funds from TFSA account. Funds can only be transferred via call the customer service. I have been told repeatedly that the option will be added in the future, but was not give an exact date.

    Review by em — August 12, 2018 @ 4:57 pm

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