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.

Important: If you have moved abroad permanently, or plan to live outside of Canada for longer than 6 months, we may need to close your EQ Bank account, even if you are still considered a Canadian resident for tax purposes.

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 from ATMs 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—up to $5 per withdrawal, up to 5 times per month²— 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 from ATMs in Canada. We don’t charge any fees for ATM withdrawals in Canada. Plus, we reimburse any fees or surcharges charged by Canadian ATM providers—up to $5 per withdrawal, up to 5 times per month—within 10 business days. Learn more about the EQ Bank Card.⁴

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).