COVID-19 FAQs
We recognize uncertainty can be difficult. Here are some Frequently Asked Questions to provide you with some answers during this uncertain time.
The safety and wellbeing of our members and staff has always been our top priority. That is why we have increased cleaning services to our branches, ABM machines, and offices, and our staff have easy access to sanitizers and disinfectant. In addition, staff are now required to wear provided masks for added safety in common spaces. We are also in the process of installing additional plexiglass barriers throughout our branches, so that every branch will have that enhanced level of protection when serving our members.
Our branches are open, and members are welcome to visit for their banking needs. By heeding the social distancing advice of our health officials, you can do your part. Allow for space between yourself, other members, and staff when visiting in person. Staff are encouraged to follow effective hygiene strategies like discouraging handshaking and encouraging frequent handwashing as directed by public health authorities. If you prefer, phone or virtual appointments are also available.
Online, mobile, or telephone banking are the best ways to complete your day-to-day banking and protect yourselves and others from the spread of COVID-19.
In addition to support that is being provided by our government, we recognize that some of you, for personal and/or business reasons, will need additional assistance to help you get through this extraordinary time. Please call your branch to discuss options to help with your cash flow.
On March 18, 2020, as part of Canada’s COVID-19 Economic Response Plan, the Federal Government has proposed a 25% reduction in the mandated annual minimum withdrawals from RRIF contracts for 2020. This Change was passed by the Federal Government on March 25, 2020 and is now in force for 2020 only.
What you need to know
- If you have a RRIF you now have the option to have your minimum that must be paid from a RRIF in 2020 reduced by 25%.
- If you do not need or want to change your RRIF Annual Minimum Payment amount for 2020 you do not have to and you can still receive your current 2020 RRIF Annual Minimum Payment without any tax implications; however, withholding tax will be applied to any amount in excess of the greater (pre 25% reduction) 2020 annual minimum payment.
- The spouse/common-law partner of the RRIF plan holder of a spousal/common-law partner RRIF will not be subject to spousal attribution where the holder receives RRIF payments up to the greater (pre 25% reduction) minimum amount.
Please reach out to your branch or call us at 1.877.560.0100 if you have questions or would like to opt in to changing your RRIF payment for 2020.
To learn more please visit
To locate the nearest available branch, you can use our Branch/ATM Finder.
Branch hours will be:
- Monday – Friday from 10:00 am – 4:00 pm.
- Saturday from 10:00 am – 1:00 pm.
Your banking can be done anywhere and at anytime by using our
- Online Banking service accessible through alterna.ca,
- Mobile Banking App available for download through the Apple IOS App Store or the Google Play Store, and
- Telephone Banking accessible by calling 1-877-560-0100 and press 2
These services allow you to:
- Check balances
- Pay bills
- Send money (mobile and online only)
- Transfer funds between accounts
- Deposit cheques (mobile only)
- Find the nearest Alterna or Exchange Network ABM (mobile and online only)
Not set-up for online or mobile banking? Give us a call at 1-877-560-0100 and we can help set you up.
For information and tips please refer to our Online Banking Demos.For further Alterna updates on COVID-19 please click here. We’re constantly monitoring developments during this global health situation and will continue to update impacts to your banking experience and ways that we can help support you as the situation evolves.
Our main concern is the health and safety of our members and employees and we are working to ensure that our services continue while supporting your need for safety.
Should we need to contact you, we encourage you to update your contact information by logging into online banking, calling 1-877-560-0100 or by sending an email to getintouch@alterna.ca.
Monday to Friday 8:00am - 6:00pm EST
Saturday and Sunday 9:30am - 4:00pm EST
Members who use an Alterna Debit Card can tap their card to complete purchases where point of sales (POS) devices are available. The Tap Limit is $100.00 per purchase.
For more information about the use of the Alterna Debit Card visit our website.
Please note, we recognize that the pandemic may be changing the way you bank and Alterna is continuing to evaluate the needs of our members.