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
- Fees for International Money Transfers are available in real-time, and available at https://www.eqbank.ca/personal-banking/international-money-transfers
Transfers
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