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FREQUENTLY ASKED QUESTIONS

BANKING SYSTEM CONVERSION


You'll find information on:
 
Most Asked Questions | Banking System Conversion
ATM, Online, Mobile and Telephone Banking | Interac eTransfers | Line of Credit
Small Business Online Banking | Account and Membership

If you don't find what you're looking for call our Member Service Centre at 
1-855-220-2580 or email us at bankingchanges@interiorsavings.com

Most Asked Questions

​What was the message regarding the temporary password/PAC?

Before September 18, you should have received a secure online and/or mobile banking message.  It included information on your temporary password needed after the conversion.

​​Why didn’t I receive a temporary password to log into online banking after the conversion?

To receive the temporary password, members had to have signed into online banking this past year and their MemberCard card was issued before August 5th

If you did not receive a temporary password before September 18, you can reset your PAC online or call the Member Service Centre.

​My online banking password/PAC is not working.  How do I set up a new PAC? 

You can reset your PAC online, or call our Member Service Centre at 1-855-220-2580

​How do I reset my password?

Are there changes to Personal Banking Accounts? 

Yes, for personal members, we made changes to two of our “savings accounts”, as well as our chequing package for members under the age of 17:

  • TBill Savings Account: has converted to a new “Investment Savings” account to offer increased interest savings.
  • Tax Savings Account: has converted to a new Plan24 Savings account. Note: this change only refers to a Tax Savings Account that some members have, and this upgrade will not change our Tax Free Savings Account.
  • HeadStart Package: now offers unlimited free transactions to members under the age of 17.

​​Is a laptop or desktop computer required to log into online banking after conversion. What if I only have a mobile phone or an iPad?

You will need online banking, not the mobile app, to login for the first time after conversion. The reason for this is that, once signed in, you will need to reset your temporary password to a password of your choice – which is only available in online banking.

You can still login from a mobile device such as a phone or tablet, however, by using the link to our mobile-friendly site here [https://online.interiorsavings.com/m/OnlineBanking/].  You just can’t login the first time through the mobile app.

STEPS: 

  • Full Website can be accessed by pressing “Request Desktop Site” from the Menu once you are logged in.
  • iPhone
    • To get to the full site from the mobile site on an iPhone, click on the “AA” to drop down the navigation menu and then click on “Request Desktop Website”.
    • If you are using an older iOS and do not have the “AA”, click on the share icon and request desktop website.
  • Android
    • To get to the full site from an Android device, click on the “…” buttons to bring up the navigation menu then select “Desktop site”.

Banking System Conversion

​What is a banking system and why did it change? 

A banking system is the internal software we use to manage your daily transactions. Instead of simply updating our current software we upgraded to an entirely different system with new and better features. Staff will find the new system easier to use and more efficient. Members will gain access to new and in-demand services while adding additional safeguards to already secure system.

​Why did Interior Savings upgrade the banking system?

​The purpose of the upgrade is to ensure our banking system leverages the latest technologies and accommodates current and future enhancements so we can continue to serve you better. Instead of simply updating our current program we upgraded to an entirely new system with better features. 

​How will a new banking system benefit me?

With this new system, our staff will be equipped to serve you better. We’ll be working on a more advanced system that gives a more detailed profile on your finances; this way we’ll be able to better understand your personal financial needs.

The newer, more robust system will connect Interior Savings with the latest, cutting edge technology and allow our employees to focus their time on you and your financial needs. This will allow us to enhance the way we deliver banking services to you – our members.

​​Will there be additional costs to members from the upgrade?

​No, there won’t be any cost to our members. We’re making this change to ensure we keep pace with technology and bring you the latest banking innovations.

​Will the banking system upgrade eliminate jobs? Will customer service change?

Moving to our new banking system won’t result in any job cuts. It will simply streamline our staff’s work so they can spend more time helping you with your banking needs and less time on back-office processes.

​​The communications to date mention the new banking system will be better for Interior Savings and staff, how?

The banking system upgrade took place mainly behind the scenes, improving our processes and efficiency so we can serve you better. As a result, you won’t see many changes to how you bank with us. 

​​How will I know if an email about the system upgrade is from Interior Savings?

Interior Savings will never send you an email or message asking you to verify any personal information including account information. Other items to be aware of:

  • Stay Up To Date: Keep your computer’s Operating System and Security Software up to date.
  • Be Cautious: If you’re not sure about a website or email, close it or delete it.
  • Use Alerts: Set up online or mobile security alerts on your account. Examples include alerts to notify you when your account has been accessed, new payment vendors have been added or a request has been made to reset your password/access code.
  • Report it Immediately: If you suspect you’ve fallen victim to a fraud, contact Interior Savings or local authorities to report it.
  • Is Your Contact Information Current: Things change – including phone numbers, email and addresses. One additional way you can help to prevent fraud is by ensuring we have your current contact information on file. The next time you’re in your local branch, please confirm that the phone numbers, email and address we have on file for you are correct. You can also update your contact information within Online Banking or by calling our Member Service Centre at 1-855-220-2580.

​Will customer service change as a result of the banking system upgrade?

​Customer service and our members’ financial health has always been of top importance to Interior Savings. The new banking system will not replace the face-to-face customer service you trust and count on. Moving to our new banking system will simply streamline our staff’s work so they can spend more time helping you with your banking needs and less time on back-office processes.

ATM, Online, Mobile and Telephone Banking

Includes information on Bill Payments, Pre-authorized Withdrawals, Direct Deposits, Statements, Transactions, Linked Partner Accounts

​What changes will I see in online banking?

There are a number of smaller changes to be aware of in online banking:

  • RRSP and TFSA products held by joint members will move and only be seen by joint members.
  • A ‘Transfer’ to another account will now show as a ‘Withdrawal’.  The recipient of the ‘Transfer’ will see the transaction as a ‘Deposit’.
  • You will no longer be able to edit a Scheduled Transfer or a Scheduled Bill Payment.  If necessary, you will need to delete the Scheduled Transfer or the Scheduled Bill Payment and then create a new one.
  • There are more options for scheduling a Recurring Bill Payment or Transfer including Daily, Weekly, Bi-Weekly, Monthly, Quarterly, Semi-Annually, and Annually

​​Will I be able to make bill payments at the ATM? What are my options for bill payments?

Bill payments at the ATM will not be an option after the banking system upgrade. The good news is there are still many convenient ways to pay your bills. These include:

  • Online and mobile banking
  • Teletouch banking
  • Call our Member Service Centre
  • By setting up bill payments to be paid automatically from your Interior Savings credit card
  • By visiting a branch

​I didn’t change my payment date and a bill was scheduled to be paid during the conversion of September 18 to 21.  What happens now? 

​The bill payment will be processed on Monday, September 21, and backdated to the correct payment date.

​​My automatic payment for a car loan comes out on the 19th.  Will the payment still go through or does it need to be rescheduled? Do I need to call the company and rearrange payment?

Any pre-authorized, automatic payment occurring during the conversion weekend will be processed on Monday, September 21 and backdated to the correct payment date.

​​My payroll/CPP/Child Tax was supposed to be deposited on conversion weekend.  Do I need to do something?

No, the direct deposits occurring during conversion weekend will be processed.  The deposit will show in your account on Monday, September 21.  You will not need to update or change these after the conversion.

​What information do I give to my employer so I can get my payroll set up to deposit automatically?

The branch can provide you with a Pre-Authorized Credit/Debit form to give to your employee. This form may also be printed directly from your Online Banking. In some cases, a void cheque may also be submitted to the employer.

​What information do I give to my utility company so I can get my utility bill set up for automatic payment?

The branch can provide you with a Pre-Authorized Credit/Debit form to give to your utility company. This form may also be printed directly from your Online Banking. In some cases, a void cheque may also be submitted to the utility company.

​​What information do I give to my credit card company so I can pay my bill from my Interior Savings account as my account number has changed?

It is not necessary to update your account number with your credit card company. If you have auto-payments set up, these will continue with your new account number. We have linked your old account number to your new account number in the background.

If you wish to update your account number with the credit card company, the branch can provide you with a Pre-Authorized Credit/Debit form. This form may also be printed directly from your Online Banking.

​What should I be aware of regarding my statement or eStatement?

In September, you can expect to receive two statements. The first will cover your banking activity leading up to conversion weekend (September 18). The second will be for any banking activity you have between the conversion and the end of the month. Even though members will be receiving two statements in September, the month-end service charge will still be based on the total months transaction count. Stay tuned for more information.

​​Where did my transaction history go?  I need it to download it into my accounting software.

Transaction history has been converted. Please contact our Member Service Centre if you have any issues.

​​Will Teletouch Banking function differently?

Yes, there will be some minor enhancements to Teletouch Banking with changes to menu options.

​​Will there be any changes to the Personal Financial Management Tools within Online Banking?

The Budget and Spending tools did not carry over to our new banking system.

Our new banking system will offer us the opportunity to bring you more enhanced solutions down the road that will improve your experience and ability to manage your finances. 

​Will my Links to Partner Accounts remain in place?

If you previously set-up Links to Partner Accounts like your Collabria Credit Card, Credential Direct, or Qtrade accounts, then you will have to set these up again.

Interac e-Transfers

​​What features do I need to reset?

You’ll need to reset your AutoDeposit information if you want to accept e-Transfers automatically without answering security questions.

​​I sent an Interac Request Money to someone during September 18 to 21.  Is it still valid?

No, any outstanding Interac transactions will not work during September 18 to 21.  They will need to be reset again after September 21.

Line of Credit

​How will my Line of Credit change?

Effective September 21, 2020, your Line of Credit and chequing or savings account will become separate products.  Your Line of Credit will show as a lending product in online and mobile banking, and on your monthly statement or estatement.  Your chequing or savings account will continue to exist as it does today.  Your Line of Credit will be automatically linked to your chequing or savings account that it was previously attached to prior to the banking system conversion.

​What if I write a cheque and there are not enough funds in my chequing or savings account to cover the amount but I have a Line of Credit that can be used?

If you have a Line of Credit and you write a cheque that is more than what is in your chequing or savings account, then the system will automatically transfer the money needed from the Line of Credit that is connected to your chequing or savings account.

​What kind of payment do I have to make to my Line of Credit?

Your Line of Credit will continue to automatically transfer a monthly interest only payment from your chequing or savings account to your Line of Credit.  If you wish to make additional payments, you can make payments via online banking or contact the Member Service Centre or your branch for assistance.

​How do I make a principle payment to my Line of Credit?

As the Line of Credit is its own product now, to make principle payments you must transfer funds directly to your Line of Credit.  This can be done through online banking or by contacting the Member Service Centre or your branch.

​Can I set up or use pre-authorized debits or credits on my Line of Credit?

No.  Pre-authorized debits and credits cannot be set up on a Line of Credit.  Instead, you will have to run any pre-authorized debits and credits through your chequing or savings account, and then you can transfer money to or from your Line of Credit.  If a pre-authorized debit goes through your chequing or savings account and there is not enough funds for it, the balance will be transferred from your Line of Credit to your chequing or savings account.

​What if I have an Overdraft and an Line of Credit?  What will happen if I don’t have enough funds in my chequing account for a transaction?

If you have both of these products and there is not enough money in your chequing or savings account to cover a transaction, then the remaining funds will always be taken from the Overdraft first.  If the Overdraft cannot cover the full amount, then additional funds will transfer from the Line of Credit to the chequing or savings account to cover the full amount.

​What if  I don’t have the funds in my chequing or savings account to cover the the monthly interest payment?  Will this amount transfer from the Line of Credit to cover this payment?

No.  If the Line of Credit monthly interest payment is due and there are not enough funds in the chequing or savings account, these funds will not transfer from the Line of Credit. This means the Line of Credit will become delinquent.

Small Business Online Banking

​​I can’t access my small business online banking account.  What should I do? 

Please phone the Member Service Centre or visit a branch for a temporary password to use to access Small Business Online Banking for the first time after the banking conversion.

​What do I need to do use Small Business Online Banking after September 21?

We have created an easy to follow checklist for members who use Small Business Online Banking.  There is also a ‘how to’ video, if you prefer.  We also encourage you to phone Member Service Centre or visit a branch with your questions.

​​I am unable to do an ATM deposit to my business account.  What can I do?  

ATMs were available over our conversion weekend.  Transactions will be posted by Septebmber 21.  If you have an issue, please contact our Member Service Centre.

​Will there be changes to Business Banking Accounts?

​For business members, we will be introducing a new Business Flex Package in place of our Business Packs. This new account has six tiers and will automatically adjust to the correct tier each month based on the number of transactions done. This way you will only pay for what you use.

Account and Membership

Did my account member number change?

Yes, all members were assigned a new member number as part of the banking system conversion. As a result of the upgrade we will shift the focus from you as a number to you as a member.

All original member numbers will be linked to your new one so you can continue to use existing cheques and pre-authorized transactions as normal.

Your member information will now be organized in a different way. Each member has been assigned a unique new member number which will cover all the products and services you have with Interior Savings. Because all products are under your name, there’s no need to switch to the new number to do your banking. This will eliminate the multiple member numbers that you may have today.  What else does this mean for you? The same easy access to your banking! And for our team? We’ll have an enhanced view of your finances which will allow us to serve you better.  

Although you now have a new number randomly assigned to you, our background processes will be able to link your account numbers under the old banking system to the new number under the new banking system. So, with this work being done securely in the background, you’ll be able to continue with your day-to-day banking as normal:

No need to memorize or remember a new member numberWhen you visit a branch or call our Member Service Centre, our team of experts will be able to assist you with your banking – without the inconvenience of looking up a number. 

  • CHEQUES
    You can continue to use your existing cheques. They will continue to be valid.
  • SCHEDULED DESPOSITS and PAYMENTS
    Preauthorized transactions such as payments and direct deposits have carried over to the new banking system. This includes bill payments and payroll deposits - this is unchanged.
  • ATM and DEBIT CARDS
    All MemberCards remain active and valid.  

​​Interior Savings has discontinued passbook printing. What options are now available if I want an update on my banking information?

While our passbook printers have been discontinued, there are still plenty of ways you can manage your money with us. This includes using our online banking tool, mobile app, Member Service Centre and over 3,600 ATMs across Canada. Take a look at our ways to bank page to learn more.

​How will my account number look in online banking?  How will I recognize my accounts?

Account numbers have now changed. 

If you have multiple chequing and savings accounts, it can be helpful to rename them with a clear nickname. Once in online banking, go to ‘My Accounts’ and click ‘Rename an Account’ 

​Does Interior Savings have my SIN on file?  What if I’m a joint member?

Majority of members have their SIN on file as this is a requirement for opening an account at a financial institution. If you are unsure, please contact the Member Service Centre or get in touch with your branch. 

IMPORTANT: Interior Savings will never send you an email or text requesting or asking for your SIN.