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.
What kind of fees are associated with my Personal Account?
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.
How do I access cash with my Personal Account?
You can use your EQ Bank Card4 to access your money for free from any ATM 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 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.
Are my deposits with EQ Bank covered by CDIC?
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.
How do I withdraw funds from my Personal Account?
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 for free from any ATM 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 within 10 business days. Learn more
about the EQ Bank Card4.
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
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.
Is the Personal Account available in Quebec?
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).