EQ Bank Notice Savings Account Fees & Features

Hold Policy

When you make a deposit from an external account, 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.

Electronic Transaction Details¹

You can make electronic transactions through our mobile and online banking applications, or by telephone with the help of our Customer Care team.

An Electronic Funds Transfer (EFT) is the electronic transfer of funds between your Accounts at EQ Bank, or between your EQ Bank Accounts and your linked external accounts at other Canadian financial institutions. It typically takes one to two business days for funds to arrive in your EQ Bank account or to your external account after the EFT request is made. However, the funds arriving in your EQ Bank account may be on hold to allow time for the deposit to clear before the funds are available to you. For more information please refer to our Hold Funds Policy.

Please see the Notice Savings Account Agreement for further details.