Me-to-Me FAQs

Moving money from one account to another should be easy, and we agree

Available when you open an account online, Me-to-Me Transfers lets you link accounts from different financial institutions so you can transfer larger limits of funds with ease and security!

What can you do? 

  • Transfer funds into your account from another financial institution
  • Send money from your account to an account at another financial institution
Download form: Me to Me money transfer authorization form

How long will it take to get Me-to-Me Transfers set up on my account? Expand/Collapse

Once you submit your sign-up form, it will take about 2 to 3 business days for the Me-to-Me link to be active. You will receive a verification email informing you that your account is linked.

How do I enroll in the Me-to-Me transfer service? Expand/Collapse

  • The Me-to-Me enrollment form will be made available on our Alterna Savings website on the Me-to-Me landing page. It is also available within the new Alterna Savings Digital Onboarding tool that was recently launched.
  • You must complete and sign the Alterna Savings M2M Agreement form and submit it along with a VOID cheque or a stamped pre-authorized debit form from your financial institution
  • Forms can be submitted via one of the following methods
    • Mail to 319 McRae Avenue, 2nd Floor, Ottawa, ON K1Z 0B9
    • Fax to Toll-Free Fax 866.267.1064
    • By calling our Contact Centre to initiate a secure email exchange at 1-877-560-0100

Can I set-up recurring or future dated Me-to-Me Transfers? Expand/Collapse

Yes, you can conveniently set-up recurring and future dated Me-to-Me Money Transfers. Recurring transfers can be made at regular intervals, such as once a day, once a week, once a month or once a year. One-time future dated transfers can also be scheduled. If a recurring or future dated transfer is to be processed on a certain day, set up the Me-to-Me Transfer at least 5 days before access to the funds is needed.

Are there limits on the amount I can transfer/receive? Expand/Collapse

Yes – the following limits apply:

Transaction Frequency



Transaction Limit



7 Day Limit



30 Day Limit



There are no minimum dollar amount limits to transfer funds.

Are there any holds on my money when transferring? Expand/Collapse

Incoming Me-to-Me Transfers are subject to a 5-business day hold.

Is there a fee for sending or receiving a Me-to-Me Transfer? Expand/Collapse

  • Me-to-Me sends count as a day-to-day transaction included in our personal banking packages and are charged at the current rate of $0.90 in excess of package limits or on our Pay As You Go banking package
  • Funds received via Me-to-Me are not subject to any fees and do not count as a day-to-day transaction

Are there any accounts that are ineligible for the Me-to-Me Transfers? Expand/Collapse

The following accounts are ineligible for Me-to-Me Transfers

  • US Dollar Accounts
  • Business and Community Accounts
  • Accounts that require multiple signatures for authorized transactions

Are Me-to-Me Transfers an option for making contributions to the RRSP and TFSA Accounts? Expand/Collapse

Absolutely! Me-to-Me transfers are a fast and convenient way of making a contribution to your RRSP and TFSA accounts. However, outgoing Me-to-Me Transfers are not available on the RRSP and TFSA accounts.

Can I transfer funds to my account outside of Canada? Expand/Collapse

Funds must be transferred in Canadian dollars and must be deposited into a Canadian financial institution account.

Can I send funds even if my other financial institution doesn’t offer Me-to-Me Transfers? Expand/Collapse

Yes. Once you have submitted your form and received your verification email, you can transfer from an Alterna Savings account via online banking at anytime, regardless if the other financial institution offers Me-to-Me Transfers.

Can you link more than one Canadian financial institution through Me-to-Me? Expand/Collapse

Yes, however, you will have to submit a Me-to-Me form for each financial institution.

When I transfer funds between Alterna Savings and Alterna Bank, the withdrawal and deposit is immediate with a hold? Expand/Collapse

M2M transfers between Alterna Savings and Alterna Bank are now real-time transfers and are subject to a 5 business day hold.  Please give our Contact Centre a call if you need to have the hold adjusted.

Why are my M2M limits different when I transfer between Alterna Savings and Alterna Bank unlike when I am transferring to another Financial Institution? Expand/Collapse

Please note that due to the real-time transfers between Alterna Savings and Alterna Bank, the Alterna Savings limits are being recognized.  Please give our Contact Centre a call for assistance.