EQ Bank TFSA Savings Account Fees & Features

EQ Bank TFSA Savings Account Fees & Features
Features Fee / Limit
Everyday banking fees None
Currency Canadian Dollars
Deposits including Mobile Cheque Deposit Not available for registered accounts
Electronic Funds Transfers (incoming) Not available for registered accounts
Sending Interac e-Transfers® Not available for registered accounts
EQ to EQ Transfers Not available for registered accounts
Bill Payments Not available for registered accounts
Receiving Interac e-Transfers Not available for registered accounts
International Money Transfers powered by TransferWise Not available for registered accounts
Contributions & withdrawals to/from Linked Accounts Free
Recurring Transfers (contributions & withdrawals) Free
Opening or closing account Free
Transaction history inquiry Free
Assisted service transactions completed via Customer Care Free
Setting up or cancelling a future dated transaction Free
Dormant account notice Free
Unclaimed balance for 10 years – transfer to Bank of Canada Free
Linked Accounts Free
Maximum Number of Linked Accounts 10
Maximum Number of Accounts 1
Maximum Number of Joint Account co-holders (including Primary Account holder)  Not available for registered accounts
Paper statements Not available. Account balances can be easily viewed and printed online.
Overdraft Not available
Balance transfers to another financial institution Free
EQ Bank TFSA Savings Account Dollar limit maximums
DOLLAR LIMIT MAXIMUMS AMOUNT
Electronic Funds Transfers $100,000
Maximum Balance Held Per Customer $200,000 (includes amounts held in TFSA Savings Account plus amounts held in TFSA GICs)

Hold Policy

When you make a deposit, 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.

Please see the EQ Bank TFSA Savings Account Agreement for further details.

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