How the EQ Bank Card can help you earn more money

We have a life hack for you: the best kept secret for levelling up your finances. A traditional chequing account / debit card combo might be the default choice for most people to manage their spending – but you aren’t most people. You know you could potentially earn more by ditching your debit card. With the EQ Bank Card, you have access to the same convenience as your debit card, and you’ll earn money just by using it.

The EQ Bank Card is a prepaid card you can fund quickly and easily from the EQ Bank mobile app. Just a few taps to load funds to your card, and you’re ready to spend, in all the same places you use your soon-to-be-ex debit card.

Earn more on every dollar

We believe managing your everyday finances shouldn’t cost money. The EQ Bank Card earns you more money instead, with less take, and more make. Let us show you how.

• Cash back - We’ll start with the fact that you’ll earn 0.5% cash back^* on every single purchase. Show us a debit card that gives you that. (We’ll wait.) And that cash back goes straight to you. No unnecessary redemption websites or phone calls (eek) to navigate. Just earnings.
  
  
• Earn high interest - Speaking of earnings, the money loaded onto your card earns a high interest rate on every dollar – just like your Savings Plus Account. Unlike most chequing accounts, the money you’d typically use for everyday expenses is earning interest right up until the moment you tap your card.
  
  
• No hidden fees - Most chequing accounts that are often used with debit cards can charge up to $200 a year in fees.^** The EQ Bank Card doesn’t charge you any. There are no monthly fees, FX fees¹, or other hidden fees for using the EQ Bank Card. That’s right, no more balancing act of making sure your minimum balance is still in place to avoid monthly fees. It’s your money – we believe it should be yours to keep. Or spend, whatever you’re into.

Take control of your money

If you’re trying to stick to a budget or curb your spending, the EQ Bank Card might be the solution.

• With a debit or credit card, it can be easy to go into overdraft (read: more fees and interest charges) or spend more than you budgeted for the month. And late or missed credit card payments can seriously damage your credit score. A prepaid card gives you the option to set yourself a weekly or monthly budget and keep yourself on track. Plus, the EQ Bank Card doesn’t impact your credit score, making it a great choice for those keeping an eye on that seemingly elusive number.
  
  
• If you’re trying to choose a credit card, the EQ Bank Card could be the perfect alternative. There’s no annual fee or double-digit interest charges like you’ll see from some major credit cards, and let’s be honest, are you really using those travel points? Cash back sounds so much better.

Get paid to spread the word

Want to earn even more? We love to give bonuses when you share your best-kept secret. Refer a friend to EQ Bank, and you’ll both earn money. Click here to find out how. Spoiler alert – the more people you tell, the more you’ll make. Pass it along.

So, are you ready to break up with your debit card? Get your free card today and discover the new spending hack you’ll want to tell all your friends about.

^* Cash back will be paid monthly. See the EQ Bank Card Agreement for details on earning cash back and other terms and conditions that apply to the EQ Bank Card.

^** Based on research conducted by Equitable Bank on May 28, 2021. Research considered monthly account fees charged for personal chequing accounts offered by TD Canada Trust, Bank of Montreal and Bank of Nova Scotia that have a minimum monthly balance of less than $4,000 at the end of each day in each month. Promotions and Senior’s discounts excluded.

¹ Foreign currency transactions will be subject to the Mastercard Currency Conversion rate. EQ Bank does not charge any additional FX fee or markup.