Personal Account Acts like chequing, earns like savings—with 4.00% interest^*.

Each EQ Bank customer must:

• Be a Canadian resident
• Meet their province’s age of majority (18 or 19 years old, depending on where you live)
• Have a Social Insurance Number

Note: to sign up online, a Canadian mobile phone number is required.

We’re all about zero monthly banking fees! We don’t charge account fees, fees for sending or receiving Interac e-Transfers^®, fees for bill payments, overdraft fees, or dormant account fees. After all, your money is your money. Check out the full list of fees we don’t charge.

You can use your EQ Bank Card⁴ to access your money for free from any ATM in Canada. We don’t charge any fees for any ATM withdrawals in Canada. Plus, we reimburse any fees or surcharges charged by Canadian ATM providers within 10 business days. Order your free EQ Bank Card today. 

You can also use our mobile app and online banking website to easily deposit or transfer funds electronically between your bank accounts. By sending funds to your linked account(s) through Interac e-Transfer or Electronic Funds Transfer (EFT), you move your cash to wherever you want it. 

Yes—deposits made under EQ Bank and Equitable Bank are aggregately eligible for CDIC protection up to $100,000, per insured category, per depositor, as outlined in CDIC’s "Protecting Your Deposits". For example, you’re covered for up to $100,000 combined across your individual Personal Account, GICs, US Dollar Account, and any deposits in your name that you have with Equitable Bank. Eligible deposits in your joint account are insured separately.

EQ Bank is a trade name of Equitable Bank. Equitable Bank is a member of the CDIC.

There are three ways to withdraw funds from your EQ Bank account: 

• Via ATM withdrawals using an EQ Bank Card 
• Via Interac e-Transfer 
• Via Electronic Funds Transfer (EFT) to your linked accounts 

EQ Bank Card:

You can withdraw money loaded on your card for free from any ATM in Canada. We don’t charge any fees for any ATM withdrawals in Canada. Plus, we reimburse any fees or surcharges charged by Canadian ATM providers within 10 business days. Learn more about the EQ Bank Card⁴.

Interac e-Transfer^®:

You can instantly withdraw funds by sending a free Interac e-Transfer^® to yourself, from your EQ Bank account. Funds sent through this method are generally not subject to holds, and funds are immediately available for use.

Note: Banks may set daily limits on how much money you can receive through Interac e-Transfer^®, so it’s best to use this method for smaller amounts.

Electronic Funds Transfer (EFT):

Using the EQ Bank mobile app or through online banking, you can transfer up to $30,000 per transaction from your EQ Bank account to your linked bank accounts. You can make multiple transactions per day. Funds will take two to three business days to appear in your linked bank account.

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

If you set up direct deposit for your pay of $2,000/month or more, you will start earning 4% interest within the first two weeks of the month following your first qualifying transaction. You will earn 4% as long as you continue to meet the qualification threshold.

For more information, visit our full terms and conditions page.

1. When will I start earning 4%^* interest and for how long?

If qualifying transactions are detected by the last day of the month, your 4% interest rate will take effect within the first two weeks of the following month. You will continue to earn 4% interest as long as your direct deposits total at least $2,000 each month.

2. How will I know when I start earning 4%^* interest?

You will receive a confirmation email within 1 business day of the 4% interest rate being applied to your account(s). You will also see your effective interest rate on your Personal Account dashboard.

3. How can I find out if my deposits are eligible for this offer?

Check out our full list of eligible deposits here.

4. How do I set up direct deposit?

You can easily set up your direct deposit via our mobile app or web browser. For full details, get our step-by-step instructions here.

5. Can existing eligible customers also earn 4%^* interest?

Yes! 4% interest is available to all new and existing eligible customers, assuming you meet the qualification threshold each month.

6. Where do I go to learn more about this promotion?

For more details, visit our full terms and conditions page.