EQ Bank has no branches, so its app is the main way to deposit a cheque. EQ Bank’s published limit is per cheque: up to $100,000 per cheque through the mobile app, and you can deposit several cheques in a day. App deposits go into a Personal Account or Joint Account only; EQ Bank’s help centre says these cheques can’t be deposited into its TFSA, FHSA or RRSP accounts. How EQ Bank compares with other banks is in the mobile cheque deposit limits roundup, and the Canadian bank limits directory lists EQ Bank’s other caps.
Which cheques go by app, by mail, or not at all
| Cheque type | Mobile app | By mail | Notes |
|---|---|---|---|
| Personal cheques and bank drafts | Yes | Yes | Personal or Joint Account only |
| Post-dated cheques | Yes | Yes | On or after the date written on the cheque |
| Dividend cheques | Yes | Yes | |
| Money orders | No | Yes | Mail only |
| Certified cheques | No | Yes | Mail only |
| Cheques endorsed over by someone else | No | No | The cheque has to be in the payee’s name, matching the name on the EQ account |
Mailed cheques go to EQ Bank – Digital Banking, EQ Bank Tower, 2200-25 Ontario Street, Toronto, ON M5A 0Y9. In the app, the steps are the usual ones: enter the amount, choose the account, photograph the front and back, then tap Deposit; the general walk-through is in the mobile cheque deposit guide.
EQ Bank’s hold periods
EQ Bank’s Hold Funds Policy sets its normal hold at 5 business days after the deposit. For Canadian dollar cheques drawn on a Canadian institution, the maximum is 5 business days for $1,500 or less and 8 business days for cheques over $1,500. The first $100 of each cheque is generally available the business day after the deposit, though that doesn’t apply to EFT deposits and may not apply to an account open less than 90 days. You earn interest on the full amount while it’s held.
EQ Bank can hold longer or refuse a cheque in cases its policy lists, such as one endorsed more than once or deposited six months or more after its date. How these rules fit the federal cheque-hold regulation is explained in how long a cheque takes to clear.
When the app won’t take the cheque
- Certified cheques and money orders can be mailed to the address above.
- A cheque endorsed over to you can’t go into EQ Bank at all; the named payee deposits it and sends the money on.
- Any cheque can instead go into an account at another bank, then move across once its hold ends: by EFT from the linked account (EQ Bank takes up to $100,000 per inbound transfer) or by Interac e-Transfer, where the sending bank’s caps apply (e-Transfer limits by bank) and EQ Bank receives up to $25,000 per transaction.
Cash is a different matter: EQ Bank has no way to take a cash deposit directly, so cash goes into another bank account first. The options are in how to deposit cash in Canada, and the ATM side of EQ Bank is on the EQ Bank Card ATM page.
Other EQ Bank limits
Sources
The figures and rules on this page come from these sources, last checked against them on September 15, 2026. How we check facts.
- eqbank.ca: Personal Account | EQ Bank
- eqbank.ca: Notice Savings Account | EQ Bank
- eqbank.ca: RRSP Savings Account | EQ Bank