Frequently Asked Questions / Help

I just made an ATM deposit and I can’t withdraw my cash…what happened?

TECU now puts a hold on all ATM deposits. This hold helps maintain security, for you and for us, by allowing all financial institutions involved to verify the transaction details. Deposits begin earning interest the day they are posted even though the funds are on hold. If you need access to newly deposited funds, please give us a call at 416-238-5606.

I’ve been a member for years! I’ve never had hold before? Why now?

There have been increased incidents of Debit/ATM card skimming. Despite our best efforts to prevent fraud, it does occur. By having a hold policy in place, we are able to reduce our exposure to losses and pass these savings on to our members. Keep in mind that you still earn interest on your deposit as soon as it is deposited.

I forgot my Internet banking Alias…what should I do?

If you forgot your Internet sign-in alias please give us a call at 416-238-5606. We can verify your identity and then reset your Internet access.

I tried logging on to my online banking and now there is a message telling me to call my Credit Union. What does this mean?

We're sorry you're having problems. We'll need to verify a few things with you before we can reset your account (just to make sure it's really you). Give us a call at 416-238-5606 to reset your account information. For your security, this process takes about 24 hours.

My Term Deposit or RRSP is coming up for renewal, what should I do?

Your Term or RRSP will automatically rollover for the same term at the current interest rate on the date of maturity unless you have instructed otherwise. Please give us a call prior to the maturity date if you have other instructions.

I’ve heard people talk about ATM card skimming, what is it exactly?

Skimming is a hi-tech method by which thieves capture your personal or account information from your credit card, driver’s license, or even ATM card. An electronic device used to capture this information is called a “skimmer,” and can be purchased online for under $50.00. Your card is swiped through the skimmer and the information contained in the magnetic strip on the card is then read into and stored on the device or an attached computer. Thieves can then make a duplicate card with this information.

How can I avoid being a victim of skimming?

Here are some things that you can do to lessen the chances that you will become a victim of this tactic:

  • Monitor your account often. Make sure to read monthly statements promptly. At TECU, you can sign up for email notification. This free service allows you to receive an email each time your ATM card is used. You can streamline the service specifically to you and your needs. You can choose to be notified of ATM transaction, POS transactions or both. You can also choose a minimum dollar amount for each of your transaction notifications.
  • Closely monitor anyone who handles your card. To protect against skimming, closely watch anyone that you give your card to for processing, such as a waiter, clerk, attendant, etc…
  • Keep lower limits on your cards. Keeping a low limit on your ATM / Debit cards restricts the amount of money that thieves can steal. Although not exactly a prevention tactic, it will help if you fall victim.
  • Take your receipts. Do not leave receipts at ATM's, teller windows, gasoline pumps, or with a clerk.
  • Protect your PIN. Do Not write your PIN on the back of your card or on anything in your wallet. Commit your PIN to memory!
  • Be aware of your surroundings. The first step to prevent skimming is to understand what is going on around you. When at an ATM cover the key pad when entering your PIN. Prior to inserting your ATM card, check the ATM card reader to make sure that it looks appropriate and is not altered.