EQ Bank TFSA Savings Account Fees & Features
| Features | Fee / Limit |
|---|---|
| Everyday banking fees | None |
| Currency | Canadian Dollars |
| Deposits including Mobile Cheque Deposit | Not available for registered accounts |
| Electronic Funds Transfers (incoming) | Not available for registered accounts |
| Sending Interac e-Transfers® | Not available for registered accounts |
| EQ to EQ Transfers | Not available for registered accounts |
| Bill Payments | Not available for registered accounts |
| Receiving Interac e-Transfers | Not available for registered accounts |
| International Money Transfers powered by Wise | Not available for registered accounts |
| Contributions & withdrawals to/from Linked Accounts | Free |
| Recurring Transfers (contributions & withdrawals) | Free |
| Opening or closing account | Free |
| Transaction history inquiry | Free |
| Assisted service transactions completed via Customer Care | Free |
| Setting up or cancelling a future dated transaction | Free |
| Dormant account notice | Free |
| Unclaimed balance for 10 years – transfer to Bank of Canada | Free |
| Linked Accounts | Free |
| Maximum Number of Linked Accounts | 10 |
| Maximum Number of Accounts | 1 |
| Maximum Number of Joint Account co-holders (including Primary Account holder) | Not available for registered accounts |
| Paper statements | Not available. Account balances can be easily viewed and printed online. |
| Overdraft | Not available |
| Balance transfers to another financial institution | Free |
| DOLLAR LIMIT MAXIMUMS | AMOUNT |
|---|---|
| Electronic Funds Transfers | $100,000 |
| Maximum Balance Held Per Customer | $200,000 (includes amounts held in TFSA Savings Account plus amounts held in TFSA GICs) |
Hold Policy
When you make a deposit, a fixed hold period may apply to allow time for the deposit to clear before the funds are available to you. For more information about hold periods on deposits, please view the Equitable Bank Hold Funds Policy.
Interest Calculations
Interest begins to accrue on every dollar the day your account becomes active. Interest is calculated daily on the total closing balance and at the rates per annum, as offered. Interest is paid monthly.
Notice of Fee Changes
If a fee is increased or a new fee is introduced, we will provide notice of any such change in writing to you through electronic means, which may include posting a notice on the Message Centre accessible through EQ Bank online or mobile banking applications, on our Website, or by any other method allowed by law as determined by us, at least 60 days before the change comes into effect.
Please see the EQ Bank TFSA Savings Account Agreement for further details.
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