How It Works ?

Alterfina in full transparency*Make an online application

About the financing

What are the steps to get an open credit?Can I get a financing solution?How to ask for an open credit?What happens once I’ve submitted my request?How long will it take to get the money in my account?Do you need to confirm my employment?What is a variable credit contract?What is the interest rate?What happens if I can’t make my payment?What are your opening hours?Are there any extra fees?Where can I find my balance and my payments calendar?

What are the steps to get an open credit?

Here are the steps to get a personal credit:
1. Fill out and send the form
2. Bank verification
3. If your request is approved, complete your application
4. Get your deposit

Can I get a financing solution?

Here are our eligibility requirements:
1. Be 18 years or older.
2. Live in Quebec
3. Have a stable job for at least 3 months.
4. Have a paycheck deposit in a Canadian bank account.
5. Not being in bankruptcy
6. Have an income of at least $1,200 per month.

Admissible income types :
– Salaried
– Employmend insurance
– Quebec’s Parental Insurance Plan (RQAP)
– Commission de la santé et de sécurité au travail (CNESST)
– Société d’assurance automobile du Québec (SAAQ)
– Specific solidarity allocation (ASS) invalidity
– Specific solidarity allocation (ASS) Salary
– Various annuities
– Self-employed

How to ask for an open credit?

Very easy! Simply fill out the form and submit it.

What happens once I’ve submitted my request?

When you send in a request (fill the form and do the bank verification), you will get a confirmation. One of our agents will then validate the information you sent in to determine the amount of money we can open credit you. You will receive an answer from us to confirm your status. If your situation meets the requirements, your funds will be deposited in your account.

Are you ready to apply for an open credit? Click HERE

How long will it take to get the money in my account?

Usually, the funds will be deposited before midnight if your application was completed AND the contract was returned signed before 2:30 PM (Mon-Fri).
If it’s not the case, you must count 24 business hours for the transfer.
Exceptions: when applications are sent in outside of regular business hours (weekends, evenings)

Apply for a personal credit HERE

Do you need to confirm my employment?

Only in certain cases, a confirmation of employment could be requested. This is done on a confidential basis and your employer will not be aware that this is a request for credit.

What is a variable credit contract?

The variable credit contract is the document we send you to confirm the agreement we make with our customers. The expression “variable credit” is different from “term loan”. A credit facility means that our customer has access to funds he/she can use at their discretion and the payment of the used amount can be done in an anticipated manner with no extra fees or penalties

Apply for a financing solution HERE

What is the interest rate?

We have an annual interest rate of 18,99%.

What happens if I can’t make my payment?

You can ask for a deferral up to 72 hours prior to your scheduled payment date.

What are your opening hours?

Client Care
Monday to Thursday: 8am to 5pm
Friday: 8am to 4pm
Saturday: 9am to 5pm
Sunday: Closed

Payment Services
Monday to Thursday: 8am to 6pm
Friday: 8am to 4pm
Saturday: Closed
Sunday: Closed

Perception Services
Monday to Thursday: 8am to 6pm
Friday: 8am to 4pm
Saturday: Closed
Sunday: Closed

Are there any extra fees?

Weekly membership fee: $22.75 if there is an active balance.

Where can I find my balance and my payments calendar?

In your client portal. Get access by going to our website and click on Customer Access

About the IBV

Is the IBV secure?What will you do with the collected information?Do you have access to my username and password on my bank account?Am I obligated to go through these steps?

Is the IBV secure?

The IBV (Instant Bank Verification) is the most secure technology on the market. It is considered as being as safe as security systems used in the largest financial institutions in Canada. We will never have any access to your personal information, such as user identification and your password.

We partner with Flinks
flinks IBV most secure technology

What will you do with the collected information?

We simply access a read only copy of your bank statement. As mentioned in our confidentiality politic, all information in your bank statement stays confidential and will never be shared.

Do you have access to my username and password on my bank account?

At no time. It is impossible for us to even connect to your account. We only receive a secure version of your bank statement in a read only format.

Am I obligated to go through these steps?

This system fastens and ease your application. You don’t have to care about finding a fax, a scanner or even have to send any document.

Conditions

Annual interest rate (APR) of 18.99%.

Amortisation calendarFinancial accompaniment and credit scoreRepayment Period

Amortisation calendar

We determine your minimum payments together, according to your reimbursement capacity and the period during which you want to payback your facility’s balance.

* Membership fees are payable as long as there is a balance owing on your credit facility.

Financial accompaniment and credit score

Our company complies to canadian legal norms. If a special situation arises during your use of a credit facility, our service team is available to assist you in making the changes you need. The transactions taking place on your credit facility do not affect your credit rating in either a positive or negative way because we do not report to credit bureaus.

*The Annual Percentage Rate (APR) varies between 130% and 250%, according to the credit facility limit and the repayment term.
** The repayment amount cannot be lower than 5% of the credit facility’s initial balance.
***Our product is geared towards ponctual use and reimbursement over a period of a few weeks.

Repayment Period

Our variable credit facilities are usually repaid in 3 to 6 months. We strongly suggest that you think of your needs and not apply for a higher sum than necessary. For example, if you wan to use our credit facilities, you can use this model : a withdrawal of $750 with bi-weekly repayments of $121.01 will take 10 installments.
This information is an example and considers that the money used at the time of the first withdrawal has been paid back in full before making another cash advance. In the example above, the $22.75 membership fees are included in the repayment amount.

Our credit facilities have flexible repayments, according to the terms of our client convention and can be repaid before the average 3 to 6 months in which they are usually repaid. You can choose to pay a partial amount or the whole balance at any time.

*If your file is completed and approved before 2:30 p.m. Click here for more details.