EQ Bank Business Card Fees & Features
All monetary amounts in this table refer to Canadian dollars. Your EQ Bank Business Card is accepted almost everywhere Mastercard® is accepted.
| Features | Fee / Limit |
|---|---|
| Card issuance | Free |
| Card activation | Free |
| Replacement card | Free |
| Maintenance charges | None |
| Card load | Free |
| Card automatic reload | Free |
| Cash back on domestic purchases | Earn 1.00%* when you make $10,000 or more purchases with the Card in a month. |
| Cash back on international purchases | Earn 1.00%* when you make $10,000 or more purchases with the Card in a month. |
| Interest earned on card balance | Earn the same interest as your EQ Bank Business Account |
| Domestic transactions | Free |
| International transactions | 2.00% Transactions made in a foreign currency will be converted and posted to your Account in Canadian currency. The exchange rate is determined by Mastercard on our behalf on the date that the transaction is settled with Mastercard. This exchange rate may be different from the exchange rate in effect on the transaction date. When the transaction is posted to your Account, in addition to the exchange rate, you will be charged a foreign currency conversion mark-up equal to 2.00% for each foreign currency transaction. For any reversal of these transactions, the exchange rate will be determined in the same manner as of the date that the transaction is reversed. We will not refund the foreign currency conversion mark-up on reversals. |
| Domestic and International ATM withdrawals | No EQ Bank fees (ATM providers may charge you fees for using an ATM and we will not reimburse you for these fees. See the EQ Bank Business Card Agreement for more details.) |
| Balance or transaction history inquiry | Free |
| Assisted service transactions completed via Customer Care | Free |
| Downloading statements | Free (You can download up to 36 months of statements on Mobile Banking or Online Banking.) |
| NSF (Non-Sufficient Funds) | Not applicable |
| Overdraft charges | None (If there is a negative balance on your card for any reason, you will owe us any amount required to bring the card balance out of a negative balance and any fees. See the EQ Bank Business Card Agreement for more details.) |
| Card Transaction Limits | |
| Minimum load amount | No limit |
| Minimum card balance for automatic reload | $50 |
| Minimum automatic reload amount | $50 |
| Maximum card balance | $100,000 |
| Maximum load for life of card | No limit |
| Card transaction limit | $30,000 |
| ATM transaction limit per withdrawal | $1000 (ATM providers may also set their own withdrawal limits which may be lower than our transaction limits.) |
| Daily1 maximum ATM transaction limit for withdrawals | $1000 (ATM providers may also set their own withdrawal limits which may be lower than our transaction limits.) |
| Daily1 maximum load | $100,000 |
| Daily1 maximum point of sale limit | $30,000 |
| Number of ATM withdrawals | Unlimited |
Hold Policy
A pre-authorization will place a 'hold' on an amount of your available card funds until the merchant sends us the final payment amount of your purchase. The time it takes for a pre-authorization hold to be removed may vary depending on the type of merchant. Please see the EQ Bank Business Card Agreement for further details.
Interest Calculations
You will earn interest on the balance on your EQ Bank Business Card at the current EQ Bank Business Account (Business Account) interest rate which is available at www.eqbank.ca. Interest begins to accrue on every dollar on your EQ Bank Business Card the day your EQ Bank Business Card becomes active. Interest is calculated daily on the total closing balance of your EQ Bank Business Card and at the rates per annum, as offered. Interest is payable monthly and interest payments will be deposited into the Business Account that is linked to your EQ Bank Business Card.
Notice of Fee Changes
We will give you written notice of any new or increased fee or charge on the EQ Bank Business Card at least 30 days before the change is stated to come into effect in the notice. We may provide that notice electronically through the Message Centre or through e-mail. If there is a new or increased fee or charge, we will also display a notice of the new or increased charge on our website (www.eqbank.ca) for at least 60 days before the change is stated to come into effect. Any changes will become effective on the date shown on the notice.
Additional Details
You can learn more about the EQ Bank Business Card at https://www.eqbank.ca/business/card.
Please see the EQ Bank Business Card Agreement for additional details about the terms and conditions that apply to the EQ Bank Business Card.
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