US Dollar Account Earn 3.00%* on every US dollar

Low exchange rate

No minimun balance

3.00%^* interest

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The US Dollar Account is not currently available in Quebec.

Features and benefits

Who is this for?

Put your US dollars where the growth is

Earn up to 10x more interest^** on your USD compared to other banks. Funding your account is fast too, with seamless transfers from any Canadian bank account.

Open an account

Move CAD to USD without missing out

If you want to fund your US Dollar Account with Canadian dollars, it’s as fast and simple as if you were making a transfer to your Personal Account—no extra steps required.

You also get more bang for your buck, with one of the best exchange rates in Canada.

Illustration of hands holding mobile phones showing drawings of coin stacks on the screens.

Looking to move money internationally?

Forget the nonsense of markups and sending money that takes forever to arrive. International money transfers are fast, easy to send, and up to 5× cheaper‡ with EQ Bank, powered by Wise.

Learn more

Who is the EQ Bank US Dollar Account for?

Investors

If your diversification strategy for investing includes US stocks or ETFs, you’ll know that every dollar counts. Stop absorbing high FX fees and unattractive exchange rates every time you fund your trading account and start keeping more of your gains.

Travelers

If you spend your winters in the United States, or travel there often, having a dedicated US dollar account—funded by your Canadian dollars—can help keep things simple (while simultaneously growing your savings).

Open an account

Is our US Dollar Account right for you?

It’s right for you if:

You need an account to save US dollars.
You want to make free USD to USD transfers within Canada.
You want to pay low FX fees to convert CAD to USD.
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 don’t need to save US dollars.
You need an account where you can withdraw cash in US dollars.
You need an account for everyday banking services in a currency other than US dollars.
You’re a Quebec resident.

Looking for more info? Get all the details over on our Fees and Features page.

No paperwork, no line ups, just a US Dollar Account in minutes.

Ready to earn more on US dollars? The first step is opening a Personal Account, which takes just minutes.

Get started by opening a Personal Account

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Common questions answered

How is the US conversion rate calculated for the EQ Bank US Dollar Account?

What transactions can I make with my EQ Bank US Dollar Account?

Our US Dollar Account allows you to transfer funds in a number of ways:

You can transfer funds from a linked external account (from a Canadian Financial Institution—in CAD or USD) to your EQ Bank US Dollar Account. When you transfer funds in CAD, the transaction will first appear in CAD in your Personal Account, and then it will be automatically deposited into your USD account in US dollars. It will appear as 2 steps in your account, but will only require one step on your end; convenient, right? Note: our hold period will apply (click here for more information on US Dollar Account holds).
If you would like to move funds from your Personal Account to your EQ Bank US Dollar Account, you can do so by making a transfer that will convert the funds from Canadian dollars to US dollars.
If you would like to move funds from your EQ Bank US Dollar Account to your Personal Account, you can do so by making a transfer that will convert the funds from US dollars to Canadian dollars.
You can also transfer funds between your EQ Bank US Dollar Account and a US dollar account held in the United States or another country, by utilizing our International Money Transfer service, powered by Wise.

Talk about a lot of options to fit your needs!

Note: Bill payments, Interac e-Transfers® and EQ to EQ Transfers are not available through the EQ Bank US Dollar Account, but you can transfer funds to and from your Personal Account to complete these types of transactions.

Do you have a US dollar conversion calculator?

Does the EQ Bank US Dollar Account offer CDIC coverage?

Good news, CDIC coverage does apply to foreign currencies, including US dollars! Here’s how it works: eligible deposits must be payable in Canada. Your 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, EQ Bank GICs, EQ Bank US Dollar Account and any deposits in your name that you have with Equitable Bank.

You can read more about this on the CDIC website.

Visit our FAQ for more details about our Personal Account.

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.

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Footnote **: Based on research conducted by Equitable Bank comparing non-cash foreign currency exchange rates for transfers where no physical foreign cash is exchanged from HSBC, Royal Bank of Canada, Bank of Nova Scotia and TD Canada Trust. Research is based on the sum of the exchange rate spread using publicly available information taken from public websites on May 15, 2024. Foreign currency exchange rates are subject to change at a moment’s notice. Rates can only be guaranteed at the time the purchase or sale is conducted.

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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.

^{Return to footnote ® referrer}
Footnote: EQ Bank does not offer the following products in the province of Quebec: US Dollar Account, International Money Transfers, RSP Savings Accounts, RSP GICs, FHSA Savings Account, FHSA GICs, Business Account, and Business GICs. Additionally, the EQ to EQ transfers feature is not available in Quebec.

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US Dollar Account Earn 3.00%* on every US dollar

Features and benefits

Who is this for?

Put your US dollars where the growth is

Move CAD to USD without missing out

Looking to move money internationally?

Who is the EQ Bank US Dollar Account for?

Investors

Travelers

Is our US Dollar Account right for you?

No paperwork, no line ups, just a US Dollar Account in minutes.

Common questions answered

How is the US conversion rate calculated for the EQ Bank US Dollar Account?

What transactions can I make with my EQ Bank US Dollar Account?

Do you have a US dollar conversion calculator?

Does the EQ Bank US Dollar Account offer CDIC coverage?

About Us

Resources

Accounts

US Dollar Account Earn 3.00%* on every US dollar

Features and benefits

Who is this for?

Put your US dollars where the growth is

Move CAD to USD without missing out

Looking to move money internationally?

Who is the EQ Bank US Dollar Account for?

Investors

Travelers

Is our US Dollar Account right for you?

No paperwork, no line ups, just a US Dollar Account in minutes.

Common questions answered

How is the US conversion rate calculated for the EQ Bank US Dollar Account?

What transactions can I make with my EQ Bank US Dollar Account?

Do you have a US dollar conversion calculator?

Does the EQ Bank US Dollar Account offer CDIC coverage?

About Us

Resources

Accounts

Social

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