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Alterna Holds HISA Funds 5 Days
July 17, 2017
2:36 pm
Nehpets
Ontario
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I learned today that Alterna places a hold of 5 days on deposits made when transferring (push) funds from another financial institution, restricting withdrawals during that period.

I made a deposit on July 12, and could not withdraw some of those funds today, July 17..until after midnight July 17.

Good to know if funds might be needed in a hurry.

July 17, 2017
3:35 pm
JenE
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EQ has a 5 business day hold on deposits!

July 21, 2017
9:53 am
Norman1
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Nehpets said
I learned today that Alterna places a hold of 5 days on deposits made when transferring (push) funds from another financial institution, restricting withdrawals during that period.

I made a deposit on July 12, and could not withdraw some of those funds today, July 17..until after midnight July 17.

…

July 12 to July 17 is only four business days. As well, I don't see holds on funds pushed in.

Instead of a hold, is it possible you had reached one of Alterna Bank's Me-to-Me Transfer limits of $50,000 in 7 days and $125,000 in 30 days?

July 21, 2017
1:05 pm
Loonie
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the transfer limit on incoming is 100K in a day; 250/wk.

August 28, 2017
1:45 pm
newmoney
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Yes this is mentioned on their website.

For security reasons, there may be a 5 business day hold on incoming Me-to-Me transfers.

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

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