https://wealthnorth.ca/banking/bank-reviews/eq-bank/Recent content in EQ Bank Review Canada 2026 | High Interest Rates, No Fees on WealthNorthHugo -- gohugo.ioen-caSun, 03 May 2026 21:59:06 -0400https://wealthnorth.ca/banking/bank-reviews/eq-bank/atm-withdrawal-limit/Mon, 06 Apr 2026 08:00:00 -0400https://wealthnorth.ca/banking/bank-reviews/eq-bank/atm-withdrawal-limit/EQ Bank does not operate its own ATM network. Cash withdrawals are available through the EQ Bank Card — a prepaid Mastercard — at third-party ATMs that accept Mastercard, but EQ Bank does not own, partner with, or surcharge-waive any ATM network. Third-party ATM operators charge their own fees, which EQ Bank does not reimburse. This is EQ Bank’s most significant practical limitation for clients who regularly need cash. For most digitally comfortable Canadians who use cash infrequently, it is manageable.https://wealthnorth.ca/banking/bank-reviews/eq-bank/customer-service/Mon, 06 Apr 2026 08:00:00 -0400https://wealthnorth.ca/banking/bank-reviews/eq-bank/customer-service/EQ Bank customer service is available by phone and live chat during extended hours — but not 24/7. Phone is available Monday to Friday 8:00 AM to midnight ET and Saturday to Sunday 9:00 AM to 6:00 PM ET. This is broader than standard Big 5 branch hours but falls short of the 24-hour phone lines maintained by RBC, TD, CIBC, and other major banks. For account management, the EQ Bank app and Online Banking handle most tasks without needing to contact support.https://wealthnorth.ca/banking/bank-reviews/eq-bank/e-transfer-limit/Mon, 06 Apr 2026 08:00:00 -0400https://wealthnorth.ca/banking/bank-reviews/eq-bank/e-transfer-limit/EQ Bank’s Savings Plus Account includes unlimited free Interac e-Transfers with no monthly cap. The per-transaction limit of $3,000 and daily limit of $10,000 are set by the Interac network — these caps apply equally at every Canadian financial institution. Because the Savings Plus Account is both a savings and transactional account, EQ Bank’s e-Transfer capability is one of its defining features. Most high-interest savings accounts at traditional banks do not support e-Transfers — EQ Bank does, at no cost.https://wealthnorth.ca/banking/bank-reviews/eq-bank/fees/Mon, 06 Apr 2026 08:00:00 -0400https://wealthnorth.ca/banking/bank-reviews/eq-bank/fees/EQ Bank’s fee structure is straightforward: $0 monthly fees, $0 transaction fees, 0% FX on the EQ Bank Card. There is no minimum balance requirement, no inactivity fee, and no annual registered account fee. EQ Bank generates revenue through the interest rate spread on deposits and GICs, not through account fees. The only potential costs an EQ Bank client encounters are third-party ATM fees (charged by the ATM operator, not EQ Bank) and any fees from other institutions for outgoing transfers.https://wealthnorth.ca/banking/bank-reviews/eq-bank/gic-rates/Mon, 06 Apr 2026 08:00:00 -0400https://wealthnorth.ca/banking/bank-reviews/eq-bank/gic-rates/EQ Bank GIC rates are consistently among the highest available in Canada for each term from 90 days to 5 years. The minimum investment is $100 — lower than most institutions — and GICs can be held in non-registered accounts or within TFSA, RRSP, FHSA, and RRIF accounts. All EQ Bank GICs are non-redeemable: funds are locked for the full term. Rates change with Bank of Canada policy decisions and market conditions.https://wealthnorth.ca/banking/bank-reviews/eq-bank/mobile-deposit-limit/Mon, 06 Apr 2026 08:00:00 -0400https://wealthnorth.ca/banking/bank-reviews/eq-bank/mobile-deposit-limit/EQ Bank supports mobile cheque deposit through its app — a critical feature for an online-only institution with no physical branches. Mobile deposit is the primary method for getting cheque payments into an EQ Bank account. Without it, clients would need to deposit at another bank and transfer funds each time. Standard limits are $5,000 per cheque and $10,000 per day. USD cheques are not supported — EQ Bank is a CAD-only institution.https://wealthnorth.ca/banking/bank-reviews/eq-bank/savings-rate/Mon, 06 Apr 2026 08:00:00 -0400https://wealthnorth.ca/banking/bank-reviews/eq-bank/savings-rate/EQ Bank’s Savings Plus Account consistently pays among the highest high-interest savings account (HISA) rates in Canada, with no monthly fee, no minimum balance, and no transaction fees. Unlike Tangerine and Simplii Financial — which advertise high promotional rates that revert to near-zero after a few months — EQ Bank’s posted rate is its standard ongoing rate. Rates move with the Bank of Canada overnight rate rather than with promotional calendars.