EQ Bank Registered Season Match Promotion Terms and Conditions
This document sets out the terms and conditions (the “Terms”) applicable to the EQ Bank Registered Season Match Promotion (the “Promotion”). All monetary amounts are in Canadian dollars.
In these Terms, “EQ Bank”, “we”, and “our” refer to Equitable Bank, and “you” and “your” refer to a participant in the Promotion, including any Eligible Customer (as defined below).
General
The Promotion is open to Eligible Customers who:
Deposit new funds (“New Deposits”) into their EQ Bank Retirement Savings Plan Account (“RSP”), EQ Bank First Home Savings Account (“FHSA”), and/or EQ Bank Tax Free Savings Account (“TFSA”) (collectively, the “Registered Account(s)”) from November 1, 2024, at 12:01 a.m. ET to February 28, 2025, at 11:59 p.m. ET (the “Promotional Period”); and
Hold such New Deposits in their Registered Account for one year, starting March 1, 2025 (the “Hold Period”).
EQ Bank will pay a cash bonus equivalent to 1% of the value the New Deposits (the “Match Bonus”) on a quarterly basis at a rate of .25% per Hold Period quarter. New Deposits held in Guaranteed Investment Certificates (“GICs”) within Registered Accounts will not be eligible for the Match Bonus.
Eligibility
The Promotion is open to all new and existing holders of a Registered Account, except in Quebec where the Promotion is only available to new and existing holders of a TFSA (each, an “Eligible Customer”). For clarity, you must be eligible to become a Registered Account holder to be eligible for this Promotion.
Match Bonus
The Match Bonus will be calculated based on the total New Deposits credited to your Registered Account during the Promotional Period. New Deposits held in GICs within your Registered Account will not be eligible for the Match Bonus.
The Match Bonus will be calculated at the end of each Hold Period quarter. For clarity, the Match Bonus will be calculated based on your Registered Account’s balance less any interest paid by us into the account during the Promotional Period and Hold Period (your “Balance”) on May 31, 2025, August 31, 2025, November 30, 2025, and February 28, 2026 (each a “Calculation Date”) as follows:
If your Balance on the Calculation Date is greater than or equal to your Balance at the beginning and end of the Promotional Period, the Match Bonus payable with respect to that quarter will equal 0.25% of the New Deposits.
If your Balance on the Calculation Date is less than your Balance at the end of the Promotional Period, but greater than your Balance at the beginning of the Promotional Period, the Match Bonus payable with respect to that quarter will equal 0.25% of the amount by which your Balance on the Calculation Date exceeds your Balance at the beginning of the Promotional Period.
If your Balance on the Calculation Date is less than your Balance at the beginning of the Promotional Period, no Match Bonus amount will be payable that quarter.
Payment of Match Bonus
The Match Bonus will be credited to your Registered Account within 5 business days of each Calculation Date. Your Registered Account must be in good standing at the time the Match Bonus is credited.
Taxes
The Match Bonus will not be counted towards your contribution room. Tax implications on the Match Bonus’ withdrawal may apply. You should contact your personal tax advisor if you require advice.
Termination, Suspension, or Modification
Unless otherwise stated, these Terms shall take precedence over any other materials promoting the Promotion. We reserve the right, without prior notice, to terminate, suspend, or modify the Promotion (including but not limited to modification of the Match Bonus or eligibility requirements) in any way, in whole or in part or for select participants, for any reason in our sole discretion, or if the Promotion cannot run as planned, including due to infection by a computer virus, bugs, fraud, tampering, unauthorized intervention, technical failures, or any other causes which corrupt or affect the security, administration, or conduct of this Promotion. This includes the right to suspend, disqualify, limit, or revoke access to the Promotion and to not pay the Match Bonus for any individual(s) we find or believe to be manipulating or otherwise abusing the process, fairness, or integrity of the Promotion. Match Bonuses that are obtained through fraudulent activities or activities which violate these Terms will be null and void and repayment may be required by EQ Bank.
In addition to these Terms, all terms and conditions associated with your EQ Bank accounts and products will continue to apply, including but not limited to those applicable to your Registered Accounts.
Promotion Limitations
The Match Bonus is non-transferable, non-saleable, non-assignable, and may not be exchanged for cash. No substitutions will be permitted. The Promotion cannot be combined with any other promotions except as expressly permitted by us.
Opting Out of Promotion
If all the conditions in these Terms are met, an Eligible Customer will automatically qualify for the Promotion and receive the Match Bonus. If you would like to opt out of this Promotion, please email contact@eqbank.ca from the email address associated with your EQ Bank Personal Account with the subject line “Match Bonus Opt Out” and include your first and last name.
Protection of Personal Information
By participating in the Promotion, you consent to the collection, use, disclosure, and retention of your personal information for the purposes of administering the Promotion and Match Bonus fulfillment.
For additional information, please see our Privacy Agreement at: https://www.eqbank.ca/legal/Privacy-Agreement.
Acceptance
By participating in the Promotion, you confirm you have read and understood these Terms and agree to be bound by them. Any notice provided by us with respect to these Terms will be deemed provided on the day it is posted on our website or otherwise provided to you.
Governing Law
These Terms and the Promotion shall be governed by the laws of the Province of Ontario and the laws of Canada applicable therein. You hereby submit to and are bound by those laws and the courts of Ontario.
Language Terms
For Québec residents only: You acknowledge and agree that you have first been presented with and have examined the French version of these Terms, and that you then have expressly requested that these Terms, and all related documents including notices, be drawn up in the English language and that you wish to and agree to be bound by the English version of these Terms. Vous reconnaissez et convenez que la version française de les présentes modalités vous a d'abord été présentée et que vous les avez examinées, et que vous avez ensuite expressément demandé que les présentes modalités et tous les documents connexes, y compris les avis, soient rédigés en anglais et que vous souhaitez être lié par la version anglaise des présentes et que vous acceptez de l'être.
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