Joint Account

Make bank on your joint savings too.

Earn 2.75% interest^* on everyday banking with up to 3 other people—without paying monthly fees.

Couple playing pickleball with an EQ Bank joint account saving up for their next vacation

High interest and the flexibility of chequing (for up to 3 other people).

Our joint account gives you the high interest and everyday banking benefits of the Personal Account, without ever taking monthly fees—and you can sign up online in minutes.

Earn 2.75% interest(Footnote ^*) with no fees on everyday banking

Sharing expenses is great. Earning more is even better. Our Joint Account gives you 1.75% bonus interest* when you direct deposit your pay. You’ll also get room to deposit up to a maximum of $500,000.
Unlimited transactions(Footnote ¹)

Check off your joint account everyday banking to-do list with free and unlimited bill payments, Interac e-Transfers^®, and EFTs(Footnote ¹)—and use the dashboard to keep track of every move.
No minimum balance restrictions

Tired of the minimum balance restrictions that other banks have? We hear you. Get the same great rate on all your dollars and look forward to better banking.
Shared savings in a safe place

Deposits held in EQ Bank products are eligible for CDIC deposit insurance. So sit back, relax, and watch your share savings grow.

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Remember: along with these great benefits, you’ll also get all the perks of the Personal Account. Not too shabby.

Who can get a Joint Account?

You can open a Joint Account if you:

Are a Canadian resident
Meet your province’s age of majority
Have a Social Insurance Number

Not a customer?

Not a problem. You’ll need to become an EQ Bank customer first—learn more about it here.

Or open your account in just a few clicks by applying online.

Join now

Already a customer?

If you’re already an EQ Bank customer, you can open a joint account from your desktop or mobile app in a few easy steps!

Is our Joint Account right for you?

It’s right for you if:

You’re looking for an account you can use with up to 3 other people.
You’re comfortable with your account co-holders being able to deposit and withdraw funds without permission from other account holders.
You’re looking for an account that doesn’t have a minimum balance requirement.
You’re looking for an account with no everyday banking fees.
You’re looking for an account with unlimited transactions each month for maximum benefit.
You’re looking to make everyday banking transactions, such as payroll deposits, Interac e-Transfers^®, and bill payments.
You’re looking to earn interest.
You’re looking for an account that’s eligible for CDIC protection.
You're looking for a completely digital banking experience.

It’s not right for you if:

You’re looking for an account for just yourself.
You need to deposit cash.
You’re looking for an account that offers cheques.

Common questions answered

Visit our FAQ for more details about our Joint Account.

Who should get a joint account?

Joint accounts are designed for people who know each other well. Make sure you trust who you’re joining up with, since you will all have full access to the account and the funds that are in it.

Some things to think about:

An account co-holder can withdraw all funds from the joint account without your permission
Account co-holders can view your account transactions
In the case of a marital breakdown of one of the account co-holders, the account could be considered a matrimonial asset and divided accordingly

If you need further details, please call the EQ Bank Customer Care team at 1-844-437-2265 (844-4EQ-BANK) or launch Live Chat

Can I convert my individual account into a joint account?

If you’re already a customer, we recommend keeping your existing individual Personal Account and opening a new joint account.

If you do wish to convert your existing individual account into a joint account, you can do so by signing in, selecting the account you wish to convert, choosing “More options” in the top right corner, and then following the easy steps to add co-holder(s). Your account will automatically convert to a joint account once a co-holder has accepted your invitation.

How does CDIC deposit insurance work for joint accounts?

Eligible joint deposits are protected for up to $100,000 per set of co-holders, not per co-holder. Eligible joint deposits are insured separately from individual Personal Account deposits.

So, for example, you would be provided coverage for up to $100,000 in each of the following scenarios:

Your Personal Account
Your joint account with a spouse
Your joint account with your parents

You can read more about this on the CDIC website.

How does a joint account work with my individual Personal Account?

As an existing customer, once you open a joint account, your individual Personal Account stays as is. So your personal banking remains just that—personal—and your joint account is shared.

You’ll be able to transfer funds easily between your individual and joint accounts as many times as you like, at no charge.

Is opening a joint account the same process whether I’m using my computer or the mobile app?

Whether you’re using online banking or our mobile app, opening a joint account is easy. There is a slight difference in the step-by-step process, and below you’ll find a quick breakdown for your reference.

To open a joint account from your web browser:

Sign in to your account
Hover over “My Accounts” at the top of your screen
From the drop-down, click “Products”
Select “Open a joint account”
Invite friends and family

To open a joint account from your mobile app:

Sign in to your account
Tap the menu at the top right of your screen
Under “Products,” select “Open a new account”
Under “Account type,” select “Joint Account”
Invite friends and family

Is the Joint Account available in Quebec?

Yes, our Joint Account is available to Quebec customers (please note some features such as EQ to EQ transfers are not currently available in Quebec).

Ready for everyday banking that earns more (with up to 3 other people)?

Open a joint account in minutes to start sharing—and earning—more, plus free transactions anywhere in Canada and no monthly fees—all from a single account.

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Illustration of man and woman walking together, pointing at a graphic of a phone with icons of a lock, dollar sign and and

Footnotes

Footnote *: Interest is calculated daily on the total closing balance and paid monthly. For the EQ Bank Card, interest is paid into the linked Personal Account. Rates are per annum and subject to change without notice. For the Personal Account, Joint Account and EQ Bank Card, the current base interest rate is 1.00% (the “Base Rate”). Customers who add and maintain qualifying recurring direct deposits of at least $2000/month to a Personal Account or Joint Account are eligible to earn a bonus interest rate of 2.75% (the Base Rate plus an additional 1.75%) for the eligible accounts (the Personal Account, Joint Account, and the EQ Bank Card balance). Conditions apply. Please review the EQ Bank Bonus Interest Offer Terms and Conditions for details.

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Footnote 1: Transactions are subject to certain dollar limit maximums. For details, please see our Personal Account Fees & Features page.

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Footnote †: Equitable Bank is a member of CDIC. EQ Bank is a trade name of Equitable Bank. Deposits made under EQ Bank and Equitable Bank are aggregately eligible for CDIC protection up to $100,000, per insured category, per depositor.

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Footnote ®: Trade-mark of Interac Corp. Used under licence.

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Footnote: EQ Bank does not offer the following products in the province of Quebec: US Dollar Account, International Money Transfers, RRSP Cash Savings Account, RRSP GICs, FHSA Cash Savings Account, FHSA GICs, Notice Savings Account, Business Account, and Business GICs. Additionally, the EQ to EQ transfers feature is not available in Quebec.

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Make bank on your joint savings too.

High interest and the flexibility of chequing (for up to 3 other people).

Who can get a Joint Account?

Not a customer?

Already a customer?