EQ Bank $150 Sign Up Bonus Offer Terms and Conditions

This document sets out the terms and conditions (the “Terms”) applicable to the EQ Bank $150 Sign Up Bonus Offer (the “Offer”). All monetary amounts are in Canadian Dollars.

In these Terms, “EQ Bank”, “we” and “our” refer to Equitable Bank, and “you” and “your” refer to a participant in the Offer, including any Eligible Customer.

  1. General

    The Offer begins on March 17, 2022 at 12:01 am ET and ends on June 15, 2022 at 11:59 pm ET (the “Offer Period”). The Offer consists of a $150 cash sign up bonus (the “Cash Bonus”) paid to qualifying account holders for opening and maintaining their first individual EQ Bank Savings Plus Account (a “New Account”) and complying with the requirements set out in these Terms.

  2. Eligibility

    This Offer is open only to Canadian residents (other than residents of Quebec) with a permanent Canadian address who:

    1. meet the age of majority in their province or territory of residence; and
    2. did not have an EQ Bank Savings Plus Account at the beginning of the Offer Period.

    The Offer is not available to residents of Quebec. The Offer cannot be combined with any other offers except as expressly permitted by us.

    Individuals who meet the foregoing eligibility requirements and otherwise comply with these Terms are referred to as “Eligible Customer(s)”.

  3. Offer Requirements

    To qualify for the Offer and receive the Cash Bonus, an Eligible Customer must satisfy all requirements in these Terms and must:

    1. successfully open a New Account as the account holder during the Offer Period;
    2. set up one or more eligible automated and recurring payroll direct deposits (categorized under Canadian Payment Association Code 200 – Payroll Deposit) totaling at least $100 of deposits per month into the New Account (the “Eligible Recurring Direct Deposit”);
    3. have the first Eligible Recurring Direct Deposit deposited into the New Account within 60 calendar days from the date of account activation for the New Account; and
    4. have such Eligible Recurring Direct Deposit to the New Account continue for at least 3 consecutive months.

    In order to qualify as an Eligible Recurring Direct Deposit, the deposit must be categorized as Code 200 – Payroll Deposit under the Canadian Payment Association codes. To confirm whether an automated and recurring direct payroll deposit qualifies for the Offer, consult with an EQ Bank representative.

  4. Payment of Cash Bonus

    If an Eligible Customer qualifies to receive the Cash Bonus, the Cash Bonus will be credited to the New Account (which must remain active and in good standing at the time the Cash Bonus is deposited) on the following dates:

    1. if the first Eligible Recurring Direct Deposit into the New Account is received on or before May 31, 2022, the Cash Bonus will be credited to the New Account on September 14, 2022;
    2. if the first Eligible Recurring Direct Deposit into the New Account is received between June 1, 2022 and June 17, 2022, the Cash Bonus will be credited to the New Account on October 5, 2022;
    3. if the first Eligible Recurring Direct Deposit into the New Account is received between June 18, 2022 and July 1, 2022, the Cash Bonus will be credited to the New Account on October 26, 2022;
    4. if the first Eligible Recurring Direct Deposit into the New Account is received between July 2, 2022 and July 15, 2022, the Cash Bonus will be credited to the New Account on November 16, 2022; and
    5. if the first Eligible Recurring Direct Deposit into the New Account is received between July 16, 2022 and August 14, 2022, the Cash Bonus will be credited to the New Account on November 28, 2022.
  5. Termination, Suspension or Modification

    Unless otherwise stated, these Terms shall take precedence over any other materials promoting the Offer. We reserve the right, without prior notice, to terminate, suspend or modify the Offer, in whole or in part or for select participants, for any reason or if the Offer cannot run as planned, including due to infection by a computer virus, bugs, fraud, tampering, unauthorized intervention, technical failures, or any other causes which corrupt or affect the security, administration or conduct of this Offer. This includes the right to suspend, disqualify, limit, or revoke access to the Offer for any individual we find or believe to be manipulating or otherwise abusing the process, fairness or integrity of the Offer.

    Cash Bonuses that are obtained through fraudulent activities or activities which violate these Terms will be null and void and repayment may be required by EQ Bank.

    In addition to these Terms, all terms and conditions associated with the New Account will continue to apply, including those set out in the EQ Bank Savings Plus Account Agreement.

  6. Taxes

    The recipient of the Cash Bonus acknowledges that they are responsible for any obligations relating to tax reporting that arise from payments made to them under the Offer.

  7. Offer Limitations

    The Cash Bonus must be accepted as awarded and is non-transferable, non-saleable, non-assignable and may not be exchanged for cash. No Cash Bonus substitutions will be permitted. There is a limit of one Cash Bonus per Eligible Customer no matter how many New Accounts are opened or Eligible Direct Deposits are set up.

  8. Opting Out of the Offer

    If all the conditions in these Terms are met, an Eligible Customer will automatically qualify for the Offer and receive the Cash Bonus. If you would like to opt out of this Offer, please email contact@eqbank.ca from the email address associated with your New Account with the subject line “$150 Sign Up Bonus Opt Out” and include your first and last name.

  9. Protection of Personal Information

    By participating in the Offer, you consent to the collection, use, disclosure, and retention of your personal information for the purposes of administering the Offer and Cash Bonus fulfillment.

    For additional information, please see our Privacy Agreement at: https://www.eqbank.ca/legal/Privacy-Agreement.

  10. Acceptance

    By participating in the Offer, you confirm you have read and understood these Terms and agree to be bound by them. Any notice provided by us with respect to these Terms will be deemed provided on the day it is posted on our website.

  11. Governing Law

    These Terms and the Offer shall be governed by the laws of the Province of Ontario and the laws of Canada applicable therein.

Download on the App Store Get it on Google Play
Chat with us
Back to top