EQ Bank

EQ Bank – Savings Plus Account

Website: https://www.eqbank.ca/

Last Updated:  January 12, 2023. (information subject to change, so please go to EQ Bank’s Website for current information).

NOTE:  EQ Bank is not a chequing account, so you can’t write cheques.  Your paycheque can be deposited to your EQ Savings account, and then to your EQ Reloadable Prepaid Mastercard. 

EQ Bank offers an online-only high-interest savings account for Canadians. Digital banking is available through downloading the mobile app, or at https://www.eqbank.ca/

How to open a bank account

You must be a Canadian resident, 18 years of age or over, and have your SIN number.  Go to https://www.eqbank.ca/, Click “Join Now”

Services Offered

  • Savings Plus Account
    • high interest
    • no monthly fees or minimum balance
    • free unlimited bill payments and Interac e-transfers
    • free withdrawals from any ATM in Canada
  • EQ Bank Reloadable Prepaid Mastercard
    • Free withdrawals from any ATM in Canada
    • Cash back on every purchase
    • Earn 2.50% interest right up until you spend
    • No FX fees, monthly fees, or other hidden fees


Service Charges

  • No monthly fees with no minimum balance required
  • No ATM Fees


To send an E transfer, click on “Transfers”, “send Interac e-Transfer”

Click the box that says, “I need to send an Interac e-Transfer”, a window will pop out

In the new window, fill in the contact information of the recipient you want the transfer sent to

How To Get a Void Cheque or Pre-Authorized Payment Form

  • Sign into EQ bank
  • Click on “Bills”
  • On the left side menu, click on Pre-Authorized payments
  • Click “generate void cheque”
  • Click “Print or save”
  • To save as a PDF, choose “Save as PDF” for the print destination