EQ Bank Card Agreement
Welcome to your EQ Bank Card! This document sets out the terms and conditions applicable to your Card, so please read it carefully, keep a copy for your records, and contact us if you have any questions. All capitalized terms used in this Agreement have the meanings set out in Section 32, below.
By ordering a Card, you accept and agree to be bound by the following terms and conditions. You also agree to receive all communication and documents related to your Card in electronic format.
The Card is intended for personal use only. You agree to operate your Card as a personal Card and understand that if we suspect you are using your Card for business or non-personal purposes, we may restrict or cancel your Card.
2 Your EQ Bank Card
Your Card is a prepaid stored value card that is limited in use to the Balance prepaid on the Card. The initial Balance on your Card is equal to the amount you loaded onto the Card after activation. When you use your Card for a purchase, the amount of the purchase, plus any applicable fees and taxes, will be debited from the Balance associated with the Card and this will reduce the remaining Balance on your Card. Your Card is reloadable.
You are the only person who is permitted to use your Card. Your Card cannot be transferred to anyone else. Your Card is not a credit card or a debit card and its usage will not enhance nor improve your credit rating. The Balance on your Card is in Canadian dollars and any fees on your Card will be charged in Canadian dollars, unless otherwise specified below. The Card is eligible for protection under the Mastercard® Zero Liability Policy.
Your Card Total Balance is eligible for deposit coverage by the Canada Deposit Insurance Corporation (CDIC) as further explained under “Deposit Insurance” in Section 31 of this Agreement. Your Card cannot be directly converted to cash. The Card is our property and you must return or destroy your Card if we ask you to.
The Card is issued by Equitable Bank pursuant to a licence from Mastercard International Incorporated. Equitable Bank is a member institution of CDIC. EQ Bank is a trade name of Equitable Bank.
3 Card Fees
You agree to pay any fees which apply to your Card. We will treat fees imposed by other financial institutions or service providers for Transactions you conduct through ATMs or terminals as Transactions that you have authorized. Fees are not refundable, except for fees from ATMs within Canada which will be reimbursed as set out in Section 13 of this Agreement.
There are no monthly fees or maintenance or overdraft charges for your Card. The following fees apply to your Card:
|Cash Withdrawals at ATMs in Canada||Free*|
|Cash Withdrawals at ATMs outside of Canada||ATM providers outside of Canada may charge you fees for using an ATM for which we will not reimburse you.|
|Card Replacement (Lost or Stolen)||Free|
|Foreign Currency Transactions||No foreign currency conversion fee is charged by EQ Bank. Foreign currency Transactions will be subject to the Mastercard Conversion Rate. See Section 16 of this Agreement for more details.|
* Reimbursement for fees charged at ATMs in Canada: We will reimburse you for ATM fees you are charged for using your Card at an ATM in Canada. This ATM fee reimbursement will be deposited onto your Card within ten Business Days. See Section 13 of this Agreement for more details.
4 Card Transaction Limits
The following Transaction limits apply to your Card:
|Minimum load amount||No limit|
|Maximum Card Balance||$10,000|
|Maximum load for life of Card||No limit|
|Card Transaction limit||$5,000|
|ATM Transaction limit per withdrawal||$500|
|Daily1 maximum ATM Transaction limit for withdrawals||$500|
|Daily1 maximum load||$10,000|
|Daily1 maximum point of sale limit||$5,000|
1 Daily limits are based on a 24-hour day, which runs from 12:00 AM Mountain Time to 11:59 PM Mountain Time.
To prevent fraud, we may impose additional Transaction limits and we may change them at any time, with or without notice to you. ATM providers may also set their own withdrawal limits which may be lower than our Transaction limits.
To be eligible to order, activate, and maintain a Card, you must be a Canadian resident with a permanent Canadian address, you must meet the age of majority in your province or territory of residence, and you must maintain your Account.
The Card is currently unavailable to residents of the province of Quebec.
You are responsible for maintaining a valid email address as part of your profile with us and are responsible for notifying us of any changes to your email address or any other personal information you have previously provided us by calling us at 1-844-437-2265 (1-416-551-3449 outside of North America) or by updating your information on Mobile Banking or Online Banking. Notice of a change in personal information or contact details will be deemed to be received the next Business Day.
We reserve the right to not make the Card (or a replacement Card) available for any reason at our discretion, including if you are not in good standing or fraud is suspected.
6 Activating Your Card
As an EQ Bank customer, you can order a Card online through Mobile Banking or Online Banking. Once your Card order is complete, your Card will be mailed to you at your address on file at the time of your Card order being processed. After you receive your Card in the mail, you can activate your Card through Mobile Banking or Online Banking per the instructions provided with the Card. When activating your Card, you will need to enter your Card information and verify your identity and you will be prompted to set up your PIN. The Card cannot be used for any purpose until it has been activated in accordance with the instructions provided with the Card.
7 Using and Loading Your Card
This Agreement and the Website set out the types of Transactions permitted for your Card. You may use your Card to make Transactions, as long as we permit you to do so and you comply with this Agreement.
Your Card is chip and PIN and contactless enabled. Your Card may be used to purchase goods and services anywhere that Mastercard is accepted, including online, telephone, mail order, and point of sale retail merchants, subject to the terms of this Agreement. The Card can be used without a PIN to make purchases online. You may also use your Card to withdraw cash at an ATM. You cannot use your Card to make a non-ATM cash withdrawal at a financial institution. You have no right to write cheques on the outstanding Balance on the Card. If you use the Card for card-not-present Transactions (such as online, mail, or telephone purchases), the legal effect is the same as if you used the physical Card. You should retain the receipt as a record of the Transaction.
You may only have one active Card. Your Card must always be linked to an active Account. You can change the Savings Plus Account or Joint Savings Plus Account that your Card is linked to at any time via Mobile Banking or Online Banking. You may change your PIN via Mobile Banking or Online Banking or by calling us at 1-844-437-2265 (1-416-551-3449 outside of North America).
Your Card can only be used by you and not by or for the benefit of a third party. We may block Transactions that we can identify as internet gambling or other cash-like Transactions as well as certain other Transactions that are set out on the Website. Use of your Card in certain countries may be restricted by law and/or by Mastercard. You must not use your Card for any fraudulent or illegal purpose, including the purchase of any goods or services prohibited by applicable local law. You must not use your Card after the Card’s expiry date.
Your Card is reloadable. You may only load funds onto your Card from your Account through Mobile Banking or Online Banking. Any limits on amounts you may load onto your Card at any time are set out in this Agreement. We may refuse to load or allow you to load additional funds on to your Card for any reason. We may restrict your Card at any time if we suspect fraud related to the Card or to the use of the Card. You will receive an alert if your Card is restricted and you will not be able to use the Card to make any purchases or withdraw funds from ATMs while the Card is restricted.
8 Card Expiration and No Funds Expiry
The funds on your Card do not expire. However, your Card expires on the last day of the month set out on the Card and must not be used after this expiry date. When your Card expires, a replacement Card will be automatically mailed to you at no cost before the expiration date of your Card. You are responsible for updating your Card details on merchant sites for any recurring payments. A replacement Card (for an expired or lost or stolen Card) will not be mailed to a Quebec address as the Card is not available to residents of Quebec.
9 Balance and Transaction History
You can check your Balance and Transactions on Mobile Banking or Online Banking. You can view your Transaction history for up to six months on Mobile Banking or Online Banking. You can view 36 months of Transaction history by downloading a Statement on Mobile Banking or Online Banking. You will not be able to view any Transactions that occurred over 36 months ago.
You can also check your Balance and review your recent Transactions by calling 1-844-437-2265 (1-416-551-3449 outside of North America). You understand and agree that paper copies of your Statement will not be provided by us.
You agree to review your Card Transaction history carefully and at least once every 30 days to ensure that all Transactions and Balances are correct. For disputes that are not settled directly with the merchant within 30 days of the Statement date, you are required to notify us of any errors, omissions, irregularities, or discrepancies you notice within 30 days of the date of the Statement containing the disputed charge, otherwise we will consider your Card records to be accurate. You will be bound by this section even if you do not use Mobile Banking or Online Banking to review your Card entries and balances at least once every 30 days. If we mistakenly credit an amount to your Card, we can correct that error at any time.
If you cancel your Card, your Transaction history will not be available; however, Statements can be downloaded for the previous 13 months.
10 Your Security Responsibilities
You must take all reasonable steps to protect your Card and PIN against loss, theft, or unauthorized use. You must keep your Card safe. This means that at a minimum you must: (a) always keep your Card in your possession; (b) take reasonable steps to protect your Card from loss, theft, or misuse; (c) never give any other person your Card Details; (d) never allow any other person to use your Card; and (e) immediately notify us, in accordance with this Agreement, of any unauthorized Transactions, if your Card or Card Details have been lost or stolen or you suspect someone else knows your Card Details or PIN by calling 1-844-437-2265 (1-416-551-3449 outside of North America).
You must also keep your Card’s PIN secure and confidential. To keep your PIN secure you must: (a) never disclose your PIN to anyone; (b) memorize your PIN and not keep any written record of it; (c) never allow anyone else to use your Card; (d) not interfere with any magnetic stripe or chip on your Card; (e) immediately destroy any document you receive containing your PIN; and (f) not use PIN combinations that may be easily guessed by others.
11 Lost or Stolen Card
If you suspect your Card is lost or stolen, lock your Card through Mobile Banking, Online Banking, or by calling 1-844-437-2265 (1-416-551-3449 outside of North America) so funds cannot be spent, added, or removed and the PIN cannot be changed.
You must immediately notify us by calling 1-844-437-2265 (1-416-551-3449 outside of North America) if you suspect or know that your Card, Card Details, or PIN have been lost or stolen. We will cancel the Card and make the Balance amounts available to you on a replacement Card. It may take up to 30 days to process your reissue request. We recommend that you write down the Card number and the customer service number in case the Card is lost or stolen. You agree, to the extent permitted by law, to cooperate with us in our attempts to recover from unauthorized users and to assist in their prosecution.
12 Partial Payments
If the Balance on your Card is not sufficient to pay the full purchase price and a merchant allows partial payments, you may request that a merchant conduct a split tender transaction, which is where you use the Card as partial payment of the transaction amount and then pay the remainder of the amount with another form of payment (e.g., cash, cheque, credit, or debit). If you fail to inform the merchant that you would like to complete a split tender transaction prior to paying, your Card may be declined. Some merchants may not accept split tender transactions and some merchants may require payment for the remaining Balance in cash.
13 ATM Withdrawals
You can use your Card to make cash withdrawals at an ATM. When you use the Card at an ATM, the amount of the withdrawal, plus any applicable fees and taxes will be deducted from your Card Balance. You cannot make any withdrawal which exceeds the Balance on your Card.
When you use your Card to withdraw cash at an ATM in Canada, EQ Bank will reimburse you for any fee charged for use of the ATM. The total amount of the withdrawal, including the ATM fee, will show up on your Statement and EQ Bank will reimburse you for this ATM fee by depositing the amount of the fee onto your Card within ten Business Days. If the Card is closed prior to an ATM reimbursement being paid, or for any other reason at our discretion, the ATM reimbursement may be paid into the Account linked to the Card at the time of the Card closure or at the time the ATM reimbursement is paid, as applicable.
If you use your Card at an ATM outside of Canada, you may be charged fees for which we will not reimburse you.
We shall not be liable for any delay, damage, or inconvenience caused by the malfunction or failure to operate an ATM for any reason whatsoever. You must settle any dispute or claims directly with the ATM provider.
You will earn interest on the Total Balance on your Card at the current EQ Bank Savings Plus Account interest rate which is available on the Website. Interest begins to accrue on every dollar on your Card the day your Card becomes active. Interest is calculated daily on the closing Total Balance on your Card and at the rates per annum, as offered. Interest is payable monthly and interest payments will be deposited into your Account. Interest payable will be rounded to the nearest cent and can be adjusted to reflect accurate interest posted to your Account without prior notice to you. If we notice any errors relating to the interest paid, we may unilaterally correct these errors without notice to you.
Notwithstanding the above, should your Card become active on the last Business Day of the month, and should you load funds onto your Card on that day, interest may not be paid on the amount loaded onto your Card until the following month. Interest will, however, begin to accrue on the amount the day it is loaded onto your Card. If you change the Account your Card is linked to during the month, the Card interest for that month will be paid to the Account that is linked to your Card at the time the interest is paid.
You acknowledge that interest rates and interest calculation methods may change at any time and without prior notice. We will advise you by posting the new rate and any interest calculation changes on the secure Message Centre or on the Website.
15 Cash back
When you make purchases with your Card in store or online you will receive 0.5% cash back for both domestic and international purchases as set out in this section. Fees, ATM withdrawals, cash advances, and any credits do not earn cash back. Refunds will reduce cash back earned.
Cash back will be calculated daily (rounded to the nearest cent) and will be paid monthly. Cash back will be deposited onto your Card before the end of the month following the month that the eligible purchase was posted. If the Card is closed prior to the earned cash back being paid, or for any other reason at our discretion, the cash back may be paid into the Account linked to the Card at the time of the Card closure or at the time the cash back is paid, as applicable. If we notice any errors relating to the cash back paid, we may unilaterally correct these errors without notice to you. You acknowledge that cash back rates may change at any time and without prior notice.
16 Foreign Currency Transactions
All Transactions will be recorded in your Statements and Account in Canadian dollars only. If a Transaction is made on your Card in a currency other than Canadian dollars, we will debit your Card in Canadian dollars. Transactions made in a foreign currency will be converted to Canadian dollars using the Mastercard Conversion Rate in effect on the day the Transaction is posted on your Card, and the Mastercard Conversion Rate may include a markup by Mastercard. The Mastercard Conversion Rate in effect on the posting date may differ from the rate in effect on the date of the Transaction.
If a foreign currency Transaction is refunded to your Card, the Mastercard Conversion Rate used to convert your refund to Canadian dollars for your Card may not be the same as the rate that existed on the date the Transaction was originally processed. For this reason, the amount that is credited to your Card for a refund of a foreign currency Transaction may be different than the amount that was originally charged to your Card for that Transaction, and the amount of the refund you receive may be less than the amount of the original purchase.
If you are outside of Canada and choose at an ATM or merchant terminal to pay for a Transaction in Canadian dollars at a specified exchange rate when you are prompted, that Transaction will be processed by us based on the instructions received from the ATM or merchant terminal and the currency conversion rate may be different than set out above.
Use of your Card in certain countries may be restricted by law and/or by Mastercard.
17 Pre-Authorized Payments
Some merchants, including, but not limited to, restaurants, tipping merchants, hotels, car rental companies, and fuel stations, may pre-authorize Transactions in an amount that is greater than the final Transaction amount by up to 30% (or more) to ensure that there are sufficient funds available on the Card to cover any tips or incidental expenses. In such cases, your Transaction will be declined if your Card Balance will not cover the Transaction amount plus the additional pre-authorization percentage. It is your responsibility to ensure that there is a sufficient Balance on the Card to cover Transactions plus any pre-authorized amounts.
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. Once the final payment amount is received, the pre-authorization amount on hold in excess of that final payment amount will be released. The time it takes for a pre-authorization hold to be removed may vary depending on the type of merchant. A hold is typically removed within 7 days for most standard merchants, and within 30 days for hotels, cruise lines, and car rental agencies. During the hold period, you will not have access to the pre-authorized amount.
18 Merchant Refunds and Disputes with Merchants
If you authorized a Transaction, you must settle any dispute or claims directly with the merchant and you are still responsible for the Transaction. You should receive a paper record of each point of sale Transaction or ATM Transaction for which you use the Card and you should retain this record. Please ask the merchant for any return policy that may apply to purchases you make with the Card.
If you identify an error in any Transaction record, you must address the error directly with the merchant or ATM operator with whom you made the Transaction. However, if you have been unsuccessful in first resolving the dispute with the merchant, you may contact us by calling 1-844-437-2265 (1-416-551-3449 outside of North America) to discuss the Transaction. Our process of disputing a charge requires us to reach out to the merchant and investigate the disputed transaction before any funds can be credited back to your Card. Therefore, we are unable to credit funds to your Card until this process is complete.
EQ Bank will not be liable if a merchant or other service provider does not give you a credit, imposes any additional charges, charges a different price for purchases with your Card versus other payment types, will not accept your Card, or takes any other action. If you are entitled to receive a refund for any reason for goods or services that were obtained with the Card, you agree to accept the refund policy of the specific merchant with whom the original purchase was made and to accept credits to the balance on your Card in place of cash.
Debits and credits for Transaction(s) may not be processed on or effective the same day as the purchase or return/adjustment. If a merchant gives you a refund and we receive a credit note from the merchant, we will credit the refund to the account on the day we receive it. You will not be able to receive a merchant refund until we credit it to the account.
19 Your Liability
You are responsible for all Transactions and any resulting interest, fees, expenses, and losses incurred if:
(a) you authorized the Transaction, including if you make an entry error;
(b) you have acted fraudulently or have been negligent, including failing to look after your Card and failing to comply with your obligations in this Agreement;
(c) your Card is misused with your consent; or
(d) you allowed another person to use your Card, even if the person was a minor or did not comply with any restrictions you placed on their use.
A Transaction is authorized if you indicate acceptance of the Transaction through any means acceptable to EQ Bank. You are not liable for unauthorized Transactions. A Transaction will be considered unauthorized only if: (a) the Card has been used by a person other than you and without actual or implied consent; (b) you receive no benefit from the Transaction; and (c) you have fulfilled your obligations under this Agreement, including contacting us immediately to report the suspected loss or theft of the Card, Card Details, or PIN.
We reserve the right to: (a) conduct an investigation into the validity of any request regarding a lost or stolen Card; (b) require verification of your identity; and (c) require you to provide an affidavit in connection with your request. It may take up to 90 days to process your request. You agree to cooperate with any investigation with respect to any loss. If we later determine that you authorized a Transaction, we may reverse any credit provided to you and you will be liable for the Transaction and any interest, fees, or losses. We may take whatever steps we consider necessary to recover your lost or stolen Card.
The Mastercard Zero Liability Policy applies to purchases made in-store, via telephone, online, or from a mobile device, as well as transactions at an ATM. As a cardholder, you will not be held responsible for unauthorized Transactions if:
(a) you have exercised reasonable care in protecting the Card and PIN from loss or theft in accordance with this agreement; and
(b) you promptly reported the loss or theft of the Card or PIN to EQ Bank in accordance with this Agreement.
If these conditions are not met, you will be liable for all unauthorized Transactions completed before you reported the loss of theft of the Card or PIN to EQ Bank. Verification of a Zero Liability claim can take up to 120 days once all the required forms and/or documents have been received and confirmed by EQ Bank, and may require a police investigation.
Your Card can only be used if the Balance on your Card is sufficient to cover your Transaction and any fees. Otherwise, the Transaction will generally be declined. However, if a Transaction occurs despite there being an insufficient Balance on your Card, due to a systems malfunction or for any other reason, or 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. You agree to reimburse us for that amount within 30 days. If you fail to pay such amount within 30 days, your Card may be restricted. Notwithstanding this, we shall have the rights set out in Section 22 and we may at any time remove funds from your Savings Plus Account(s) or any other accounts you have with us to pay any outstanding Card debts or other obligations you owe to us.
20 EQ Bank’s Liability
If you cannot use your Card for any reason, we are not liable whether the reason was within our control or not. We are also not responsible for any problems you may have with any goods or services that you purchase with your Card, whether with regard to quality, safety, legality, or any other aspect of your purchase. You expressly agree that neither EQ Bank, nor any of its affiliates, agents, or suppliers, shall be liable in any event for any direct, indirect, incidental, punitive, special, or consequential damages, or any damages whatsoever, including, without limitation, damages for loss of profit, arising out of your use of or any malfunction, cancellation, restriction, or inability to use your Card. For greater certainty, you agree that we may take any action authorized or permitted by this Agreement without being liable to you, even if such action causes you to incur a loss.
You acknowledge and agree to indemnify (protect), and hold us, our officers, directors, employees, agents, and affiliates harmless (innocent) from and against any loss, liability, cost, or expense of any kind that any of the aforementioned parties may incur in connection with any service we may provide you or that may result from any dealings between you and us, including any claim or liability for payment of a forged or altered item.
22 Rights of Set-Off
We have the right under the law (called “Set-Off”) and under this Agreement to use funds on your Card or in any account you have with us to pay any outstanding debts or other obligations you owe to us, such as a withdrawal resulting in a dishonored payment. You understand and agree to allow us to use some or all of the money on your Card to pay any debts that you owe us without prior notice to you.
23 Cancelling or Suspending Your Card
If you do not comply with this Agreement or we determine you are using your Card for a fraudulent or prohibited purpose, we may suspend or cancel your ability to use your Card, including your ability to load funds on to or from your Card.
We may refuse to load additional funds on to your Card for any reason. We may also take any steps permitted by law to enforce our rights under this Agreement without prior notice to you and you will pay all legal fees and expenses incurred.
You can cancel your Card through Mobile Banking or Online Banking, after you have spent the remaining Balance or transferred the Balance from your Card to your Account.
24 Changes to this Agreement
Other than for any new or increased fees or charges, changes to this Agreement (including replacing it with another agreement) may be made by us at any time, without prior notice to you, unless advance notice is required by law. When changes are made, notice of the change will be posted on the Message Centre or on the Website.
For any new or increased fee or charge, we will give you at least 30 days’ written notice before the change is stated to come into effect in the notice. We may provide that notice through e-mail or mail using the email or mailing address that you have most recently provided to us. If there is a new or increased fee or charge, we will also display a notice of the new or increased charge on the Website 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. We may unilaterally correct any errors without notice to you.
You agree that if you use your Card, you will be deemed to accept the change. You can obtain a copy of the current Agreement by visiting our Website. You may refuse the change by terminating this Agreement and cancelling your Card without cost, penalty, or cancellation indemnity by notifying us within 30 days of the effective date of the change. If you choose to rescind this Agreement, Section 25 of this Agreement will apply.
You acknowledge that we may, from time to time, make special offers or promotions available to some or all of our customers with or without notice. You acknowledge that we reserve the right to amend, withdraw, suspend, or terminate such special offers or promotions in our sole discretion without notice.
You must notify us of a change in your personal information and/or contact details by calling us at 1-844-437-2265 (1-416-551-3449 outside of North America) or by updating your information through Mobile Banking or Online Banking.
25 Termination of this Agreement
You may cancel the Card and this Agreement at any time after you have spent the remaining Balance or transferred the Balance to your Account. We may terminate or suspend this Agreement or your Card at any time without notifying you in advance if we suspect your Card is being used fraudulently or for any other reason. If this Agreement or use of your Card is terminated or suspended, you will continue to be liable for your obligations under this Agreement. Upon termination of the Agreement, your Card will also be cancelled, and you must destroy it immediately.
If we wish to end this Agreement for any other reason, we may do so by giving you at least 30 days’ notice, which we may give by posting a notice on the Website or by any other reasonably effective means. Such notice will set out the date this Agreement shall terminate, and we will not process any Transactions on the Card initiated on or after such date. You will be entitled to the return of the Balance on your Card by transferring the Balance to your Account. Any Balances that have not been transferred by you by the date of termination will be deposited by us into your Account.
26 Privacy and your Personal Information
By ordering a Card, you consent to the collection, use, and disclosure of your personal information in accordance with EQ Bank’s Privacy Agreement. The Privacy Agreement may be amended or replaced from time to time and we will post the revised Agreement on our Website. A copy of our Privacy Agreement is available at https://www.eqbank.ca/legal/Privacy-Agreement.
The Privacy Agreement forms part of this Agreement, and your acceptance of the terms of this Agreement indicates that you also agree to the terms of the Privacy Agreement. It is important that you review our Privacy Agreement carefully prior to ordering a Card.
We reserve the right to comply with any third party demands which have been issued under federal or provincial legislation, or any court order we receive in respect of your Card. You agree that we will not be liable to you in any way for complying with any such third party demands or court orders issued on or against your Card.
27 Complaints or Concerns
We are committed to delivering a high standard of service to our customers. If you have a concern or a complaint about your Card or any service we provide, we want to hear from you so that we can try to make things right as quickly and efficiently as possible. Our Customer Complaint Handling Procedures set out full details of our process and are available on the Website and in our offices. You may also request a copy of these procedures by contacting Customer Care.
If you have a concern, you can follow the complaint procedure outlined below. Step 1: You can speak with a business unit representative by calling toll-free at 1-844-437-2265 (1-416-551-3449 outside of North America). Step 2: If the issue is not resolved to your satisfaction, you can contact the Business Unit Head toll-free at 1-855-832-9448 (416-515-2293 in Toronto) or email firstname.lastname@example.org. Step 3: If the Business Unit Head is not able to resolve the complaint to your satisfaction, you may submit your complaint in writing to EQ Bank’s Dispute Resolution Office at email@example.com.
In addition, there are external agencies that monitor Canada’s financial industry. If you do not accept the decision of EQ Bank’s Dispute Resolution Office, you can refer your complaint to the Ombudsman for Banking Services and Investments (OBSI) for further review at: 20 Queen Street West, Suite 2400, P.O. Box 8, Toronto, Ontario M5H 3R3; www.obsi.ca; or 1-888-451-4519. If you have a complaint regarding a potential violation of a consumer provision, voluntary code of conduct, or public commitment, you can contact the Financial Consumer Agency of Canada (FCAC) at: 427 Laurier Avenue West, 6th Floor, Ottawa, Ontario K1R 1B9; www.canada.ca/en/financial-consumer-agency; or 1-866-461-3222.
28 Voluntary Commitments
EQ Bank has adopted a number of Voluntary Codes of Conduct and Public Commitments that are designed to protect consumers, which are available at https://www.eqbank.ca/legal/voluntary-codes-of-conduct.
29 Consent for Delivery of Electronic Documents (“Consent”)
The following terms and conditions apply to the electronic delivery of Documents to you relating to your Card.
(a) Giving Your Consent
You consent to the electronic delivery of Documents and other information through the Message Centre, fax, email, SMS/text message, or by posting on our corporate website (equitablebank.ca) or the Website. Documents include:
- Notifications containing legal disclosures, including the disclosure requirements prescribed by the Bank Act, all provincial and federal Securities, Privacy and Tax statutes and regulations, and all Voluntary Codes of Conduct and Public Commitments applicable to the financial industry;
- Changes to any interest rate(s), fee(s), and any other items mentioned in the Documents we send you for new Cards or other products or services;
- Changes/amendments to the EQ Bank Card Agreement, products, or services;
- Communications about the terms and conditions of this Consent, including changes and confirmations;
- Communications on any current promotions, if applicable; and
- Any other confirmation, notice, or information that we are required by law to provide you in writing relating to your Card.
(b) When Your Consent Takes Effect
This Consent applies to your Card and shall take effect as soon as you order a Card.
(c) Electronic Delivery of Documents
When we deliver a Document electronically, we will do so by making it available to you through our Website, or our secure Online Banking and Mobile Banking site, which may include through our Message Centre accessible after you have been identified electronically through our Mobile Banking or Online Banking services. EQ Bank will send you Alert Messages, notifications, or other communications by email or SMS/text message, including:
- Alerts and requests for information in relation to identity theft and other fraud or security-related activities;
- Requests for information that may be required in connection with EQ Bank’s obligations under anti-money laundering rules, know your client rules, or other legal obligations;
- Communications that deliver information on collections;
- Communications arising from all manner of legal actions, causes of action, complaints, claims, applications to administrative tribunals, legal demands, or otherwise;
- Notifications of corporate actions that require your attention;
- Alerts providing you with reminders or Card-related instructions; and
- Other Card-related alerts requested by you.
You agree that receipt of these notifications, alerts, and other communications by email or SMS/text message as determined by EQ Bank is a mandatory and integral part of your Card. Please refer to our EQ Bank Mobile and Online Banking Terms and Conditions for more information on Alert Messages and Electronic Communications.
(d) Retention Period
Statements are available for download through Mobile Banking and Online Banking. Statements are available for 13 months after the end of the period to which they relate. We will keep a copy of all other Documents provided to you for the entire time you maintain your Card with us and for a minimum period of seven years after you cease to maintain your Card with us.
(e) Your Obligations
You agree to review the Documents we send you electronically within 30 days of receipt. You confirm that you have the necessary technical ability and resources to do this. You also acknowledge that technical and security requirements for access to our Website and services or your email (or for viewing the Documents themselves) may change from time to time. You also confirm that you will notify us immediately of any changes to your contact information (including email address).
(f) Revoking Consent
You may revoke your consent for electronic delivery of Documents for your Card only by closing your Card. We reserve the right to provide you with Documents by paper delivery if we are unable to provide electronic delivery, have reason to believe you may not have received the Document, or if we, in our sole discretion, otherwise consider it appropriate. Any paper delivery will be provided to you at the most current mailing address that we have on file for your Account.
(g) Changing This Consent
We may change the terms and conditions of this Consent from time to time by providing you with notice of change through electronic or paper delivery. You agree that your subsequent use of our services means you agree to and accept the revised terms and conditions.
(h) Limitation of Liability (related to electronic delivery of documents)
You agree that your notifications and delivery of Documents electronically may be delayed, not delivered, or inaccurate due to a variety of factors, including technical problems. To the extent permitted by the laws of Ontario and the laws of Canada, we will not be liable for any direct or indirect damages arising out of your use or inability to use the notifications and Documents, regardless of the cause, including negligence, even if we are advised of the possibility of such damages. For fax and e-mail transmissions, you accept the risk that certain notifications and Documents may be lost, intercepted, reviewed, or altered by others.
30 Contact Us
Any inquiries related to the Card should be directed to 1-844-437-2265 (1-416-551-3449 outside of North America) which is available from 8:00 A.M. until midnight Eastern Time, 7 days a week. Contact information is also available on the Website. You may also mail us a letter to EQ Bank, Equitable Bank Tower, 30 St Clair Ave W #700, Toronto, ON M4V 3A1. You can obtain more information and a current copy of this Agreement on our Website.
When used in this Agreement, the term “including” means “including, but not limited to.” The section headings in this Agreement are for convenience of reference only and do not affect or govern the interpretation of the rest of the Agreement. When we refer to this Agreement or other agreements or documents, we are referring to this Agreement and those other agreements or documents as they may be amended, replaced or supplemented from time to time.
This Agreement sets forth the entire understanding and Agreement between you and us, whether written or oral, with respect to the subject matter hereof and supersedes any prior or contemporaneous understandings or Agreements with respect to such subject matter.
Conflict of Terms
If there is any conflict or inconsistency between the terms of this Agreement and the terms in any other agreement between you and us, the terms of this Agreement will prevail and the parties shall take any necessary steps to conform the inconsistent terms to the terms of this Agreement.
EQ Bank is a trade name of Equitable Bank. Equitable Bank is a member of the Canada Deposit Insurance Corporation (CDIC). Deposits made under EQ Bank and Equitable Bank are aggregately eligible for CDIC protection up to $100,000, per insured category, per depositor, and provided such deposits are payable in Canada, as outlined in CDIC’s “Protecting your Deposits”. To learn more, visit the CDIC’s website at www.cdic.ca or contact them directly at firstname.lastname@example.org or 1-800-461-2342.
We may at any time, without notifying you, assign our rights and obligations under this Agreement to any assignee, who will be entitled to all of our rights and will be responsible for our obligations under this Agreement to the extent they are assigned by us.
Severance and Waiver
If any part of this Agreement is held to be unenforceable for any reason, the unenforceable portion of this Agreement will not affect the enforceability of the remainder of this Agreement, which will continue in full force and effect as if this Agreement had been executed without the unenforceable portion. Our failure to exercise or delay in exercising any rights does not waive any default or prevent us from enforcing those rights later.
Any provision of this Agreement relating to your responsibilities and liabilities or our rights and liabilities will survive termination of the Agreement.
This Agreement, the services, and the operation of the Card will be governed by and construed in accordance with the laws of the Province of Ontario and the laws of Canada. You hereby submit to and are bound by those laws and the courts of Ontario.
Arbitration is an efficient and cost effective way to resolve claims. You agree that any claim, dispute, or controversy that arises from or relates to (a) your use of the Card; (b) advertisements, promotions, or oral or written statements related to your Card; or (c) and other benefits or services related to your Card will be resolved by way of binding arbitration.
Arbitration will follow the National Arbitration Rules of the ADR Institute of Canada Inc., or its successors (the “Arbitrator”). We reserve the right to change or replace the Arbitrator, at our sole discretion. Arbitration will take place in the province or territory where you reside and any decision rendered will be final and binding. Each party has the right to appeal the Arbitrator’s decision to an appeal panel administered by the Arbitrator provided it gives the Arbitrator notice of its intention to appeal within 30 days from the date of the written arbitration decision. The appeal decision will be final and binding, there will be no further appeal, and you acknowledge that it will be considered as a final award.
If you do commence arbitration proceedings, you acknowledge that it will only relate to your claim and cannot be on behalf of anyone else or anyone else’s claim and that the Arbitrator will have no jurisdiction or authority to consider any claim you commence if it appears that it is in any way on behalf of any other person or group of persons.
You and we expressly requested that this Agreement, and all related documents, be drawn up in the English language. Les parties ont expressément demandé que la présente convention et tout document y afférent soient rédigés en langue anglaise.
Third Party Rights
Nothing in this Agreement confers on any third party any benefit or the right to enforce any terms of this Agreement.
Third Party Claims
In the event we reimburse you for a refund claim you have made, or if we otherwise provide you with a credit or payment with respect to any problem arising out of any Transaction made with the Card, you are automatically deemed to assign and transfer to us any rights and claims (excluding tort claims) that you have, had, or may have against any third party for an amount equal to the amount we have paid to you or credited to your Card. You agree that you will not pursue any claim against or reimbursement from such third party for the amount that we paid or credited to your Card, and that you will cooperate with us if we decide to pursue the third party for the amount paid or credited to you. If we do not exercise our rights under this section, we do not give up our rights to exercise them in the future.
While we make every effort to ensure all information sources provide correct information relating to the Card and your Balance, we rely on many information sources, some of which are outside our control, and we will not be held liable or responsible for the accuracy of information from such sources.
Disclaimer of Warranties
Except as expressly otherwise provided in this Agreement and except for any applicable law, we make no representations or warranties of any kind to you, whether express or implied, regarding any subject matter of this Agreement, including, without limitation, any implied warranties of merchantability or fitness for a particular purpose or those arising by statute or otherwise in law or from a course of dealing or usage of trade.
Website and Availability
Although considerable effort is made to ensure that our Website and other operational and communications channels are available around the clock, we do not warrant these channels to be available and error-free. You agree that we will not be responsible for temporary interruptions in service due to maintenance, website changes, or failures, nor will we be liable for extended interruptions due to failures beyond our control, including but not limited to the failure of interconnecting and operating systems, computer viruses, forces of nature, labour disputes, and armed conflicts. We will not bear any liability, whatsoever, for any damage or interruptions caused by any computer viruses that may affect your computer or other equipment. You agree to act responsibly regarding the Website and its use. You will not violate any laws, interfere, or disrupt computer networks, impersonate another person or entity, violate the rights of any third party, stalk, threaten, or harass anyone, gain any unauthorized entry, or interfere with the Website’s systems and integrity.
32 Definitions in this Agreement
“Account” means the Savings Plus Account or Joint Savings Plus Account, as applicable, that is linked to your Card. Your Account may be accessed via Mobile Banking or Online Banking;
“Agreement” means this EQ Bank Card Agreement, as amended from time to time;
“Alert Messages” means the automated security alert messages and opt-in alert messages that we may send to you securely to the Message Center accessible within Mobile and Online Banking or by regular email to your primary email address or by text (SMS) message to your mobile phone number;
“ATM” means an automated teller machine;
“Balance” means the total amount of available funds on the Card;
“Business Day” means a day other than a Saturday, Sunday, federal holiday, or publicly-observed holiday in Ontario;
“Card Details” means the Card number, expiry date, and CVC (the security code on the back of the Card);
“Card” means the EQ Bank Card prepaid stored value card and any replacements or renewals we issue;
“Consent” has the meaning set out in Section 29.
“Documents” means the Agreement, and interest, fees, privacy, and/or complaint-related disclosure documents you receive(d) electronically when you ordered your Card, and including those outlined in Section 29 under “Consent for Delivery of Electronic Documents”;
“Electronic Communication” means any communication by telephone, email, Message Centre, text (SMS), social media, chat, fax, or other method of telecommunication or electronic transmission;
“Electronic Device” means any electronic device that we allow you to use to access our services (for example, certain personal computers, cellular phones, telephones, smart phones, tablets, or other similar devices);
“EQ Bank”, “the Bank”, “Bank”, “our”, “we”, or “us” means Equitable Bank;
“Includes” or “Including” means includes or including, as applicable, but not limited to;
“Mastercard Conversion Rate” means the rate that we pay to Mastercard to convert foreign currency to Canadian currency;
“Mastercard” means Mastercard Incorporated, and its successors and assigns;
“Message Centre” means a secure messaging inbox, accessible through EQ Bank Online or Mobile Banking;
“Mobile Banking” or “Mobile” means the mobile application, specifically designed by us or a Third Party Service Provider, through which you may sign on to the services;
“Online Banking or “Online” means the Website through which you may sign on to the services;
“PIN” means a Personal Identification Number;
“Statements” means the online monthly Card statement accessible through Mobile Banking and Online Banking;
“Total Balance” means the total amount of funds on the Card, which equals the Balance plus the amount of any Transactions that have not yet been posted;
“Third Party Service Provider” means a party retained by us to act on our behalf to provide or to assist us in providing our services;
“Transaction” means any use of a Card or Card Details to purchase goods or services or use the Balance on your Card, including an ATM withdrawal;
“Website” means www.eqbank.ca; and
“You” or “your” means the person who orders, activates, or uses the Card.
Content such as words and symbols are trademarks and the property of the parties listed below.
EQ Bank is a trade name of Equitable Bank.
®/TM Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.