Alterna Bank offer wire transfer services for both domestic and international transactions. Whether you are sending money to family overseas or receiving a payment from a foreign business, wire transfers remain one of the most secure and reliable methods available for large sums.
While Alterna Bank provides a highly capable online and mobile digital banking experience, it is important to note that outgoing wire transfers require heightened security protocols. As a result, sending a wire cannot be done purely self-serve online and requires you to speak with a representative or visit a branch. Below, we break down the exact steps, routing details, and troubleshooting tips to ensure your funds transfer smoothly.
| Category | Details |
|---|---|
| Institution Numbers | 608 (Alterna Bank) / 842 (Alterna Savings) |
| Main Transit Numbers | 00016 (Alterna Bank) / 00646 (Alterna Savings) |
| Incoming Wire Fee | Approximately $15 CAD |
| Outgoing Wire Fee | Approximately $30 - $80 CAD (Varies by destination) |
Step-by-Step Guide to Sending a Wire Transfer
- Step 1: Log into your Alterna Bank online or mobile banking portal to verify that your account has sufficient available funds to cover the transfer amount and the outgoing fee.
- Step 2: Gather the recipient's required banking details. You will need their full name, physical street address (PO Boxes are not permitted), account number, the receiving financial institution's name and address, and the routing number (SWIFT / BIC / IBAN code).
- Step 3: Since outgoing wires cannot be initiated entirely through the digital banking dashboard, you must contact Alterna Bank customer support directly at 1.877.560.0100 or visit a local Alterna Savings branch.
- Step 4: Provide the representative with the purpose of the wire and the recipient details to finalize compliance checks and authorize the transaction.
Pro-Tip: To make receiving international funds significantly faster and safer, always download the official "Incoming Wire Transfer" PDF routing sheets directly from the Alterna website. Alterna Bank uses correspondent banks (like RBC Royal Bank) to receive USD and international currencies, and providing the sender with this exact PDF ensures the SWIFT codes and transit formats are flawless.
Troubleshooting Common Digital Banking Pain Points
- Multi-Factor Authentication (MFA) Delays: If you are not receiving your MFA text message when logging in to approve transfers or check balances, ensure your cellular provider isn't blocking shortcode SMS messages. Alternatively, switch your authentication method to email.
- Browser Errors and Blank Screens: If you encounter a blank page when trying to download the necessary wire transfer routing PDFs from the Alterna site, it is likely a cache issue. Clear your browser cache or open the page in an Incognito/Private window.
- Locked Account ID: Multiple failed login attempts will lock your online profile. If your account is frozen while trying to verify an incoming wire, you cannot unlock it online; you must call the contact centre at 1.877.560.0100 to reset your credentials.
Frequently Asked Questions
Does Alterna Bank charge fees for wire transfers?
Yes. Incoming wires generally incur a fee of around $15 CAD. Outgoing international and domestic wire transfers range from $30 to $80 CAD, depending on the currency and the destination of the funds.
Can I send an international wire transfer online?
No. While you can manage day-to-day transactions and Interac e-Transfers online, outgoing wire transfers require you to call Alterna Bank directly or visit a branch to satisfy anti-money laundering and compliance regulations.
What is the Alterna Bank institution number for wire transfers?
The institution number for Alterna Bank is 608, and the transit number for the main branch is 00016. If your account is with Alterna Savings, the institution number is 842, and the main transit number is 00646.
