{"id":7308,"date":"2022-06-16T08:12:30","date_gmt":"2022-06-16T15:12:30","guid":{"rendered":"https:\/\/www.nerdwallet.com\/ca\/?page_id=7308"},"modified":"2025-01-09T12:29:24","modified_gmt":"2025-01-09T20:29:24","slug":"eq-bank-review","status":"publish","type":"page","link":"https:\/\/www.nerdwallet.com\/ca\/banking\/eq-bank-review","title":{"rendered":"EQ Bank Review"},"content":{"rendered":"\n<div class=\"wp-block-group is-style-disclosure is-layout-constrained wp-block-group-is-layout-constrained\">\n<p class=\"\">Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-nerdwallet-blocks-trust-card\"><div class=\"c-block-trust-card\"><h2 class=\"c-block-trust-card__title\">EQ Bank at a glance<\/h2><div class=\"c-block-trust-card__description\"><p>EQ Bank launched in 2016 and has more than $8 billion in customer deposits.<\/p><\/div><ul class=\"c-block-trust-card__bullet-points\">\n<li class=\"wp-block-nerdwallet-blocks-trust-card-bullet c-block-trust-card__bullet-point\"><div class=\"c-block-trust-card__bullet-point__title\">EQ Bank account options<\/div><div class=\"c-block-trust-card__bullet-point__intro\">Hybrid chequing and savings account<br>Savings option<br>Investing<br>U.S. Dollar account<\/div><\/li>\n\n\n\n<li class=\"wp-block-nerdwallet-blocks-trust-card-bullet c-block-trust-card__bullet-point\"><div class=\"c-block-trust-card__bullet-point__title\">Other EQ Bank services<\/div><div class=\"c-block-trust-card__bullet-point__intro\">Mortgages<br>International money transfers<\/div><\/li>\n<\/ul><\/div><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">EQ Bank overview<\/h2>\n\n\n\n<p class=\"\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"225\" class=\"size-medium wp-image-7313 alignright\" src=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/06\/eq-bank-logo-300x225.jpeg\" alt=\"\" srcset=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/06\/eq-bank-logo-300x225.jpeg 300w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/06\/eq-bank-logo-768x576.jpeg 768w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/06\/eq-bank-logo-386x290.jpeg 386w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/06\/eq-bank-logo-280x210.jpeg 280w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/06\/eq-bank-logo-276x207.jpeg 276w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/06\/eq-bank-logo-100x75.jpeg 100w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/06\/eq-bank-logo-460x345.jpeg 460w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/06\/eq-bank-logo-40x30.jpeg 40w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/06\/eq-bank-logo-150x113.jpeg 150w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/06\/eq-bank-logo.jpeg 866w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/>EQ Bank was launched by its parent company, <a href=\"https:\/\/www.nerdwallet.com\/ca\/mortgages\/equitable-bank-mortgage-review\">Equitable Bank<\/a>, in 2016 as a low-cost digital alternative to traditional banking. Its account and investment offerings are somewhat limited compared to other <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/types-of-financial-institutions-in-canada\">financial institutions<\/a>, but its competitive interest rates and lack of monthly fees have attracted more than $8 billion in customer deposits.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Online banking capabilities at EQ Bank<\/h3>\n\n\n\n<p class=\"\">As an <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/online-banks-explained\">online-only bank<\/a>, EQ Bank provides tools for customers to do all of their banking digitally, either through the company\u2019s website (eqbank.ca) or the EQ Bank mobile app. Deposits, money transfers and bill payments can all be done online, as can the management of EQ Bank investment accounts.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Is my money safe at EQ Bank?<\/h3>\n\n\n\n<p class=\"\">Even though it\u2019s an online institution, EQ Bank safeguards customers\u2019 savings the same way bigger banks do, by purchasing protection through <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/banking-what-is-cdic-deposit-insurance\">Canada Deposit Insurance Corporation<\/a>, or CDIC.&nbsp;<\/p>\n\n\n\n<p class=\"\">CDIC insures deposits up to a maximum of $100,000 per account, so if EQ Bank suddenly becomes insolvent, customers there will get up to that amount of their money back.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">EQ Bank account types<\/h2>\n\n\n\n<p class=\"\">EQ Bank offers a relatively stripped-down selection of accounts. The bank\u2019s Personal Account reportedly \u201cacts like chequing, earns like savings\u201d and the other <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/what-is-a-savings-account\">savings accounts<\/a> accommodate unique personal needs. Most notably absent are <a href=\"https:\/\/www.nerdwallet.com\/ca\/credit-cards\/best-credit-cards-in-canada\">credit cards<\/a> and other common borrowing options.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">EQ Bank accounts<\/h3>\n\n\n\n<ul class=\"\">\n<li class=\"\"><strong>Personal Account: <\/strong>Previously referred to as the Savings Plus Account, is a basic <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/what-is-a-chequing-account\">chequing account<\/a> with no monthly fees, unlimited transactions and the ability to earn interest \u2014 an uncommon feature among chequing accounts at traditional banks \u2014 at a rate higher than that of many savings accounts.<\/li>\n\n\n\n<li class=\"\"><strong>Joint Account:<\/strong> Similar to the Personal account, but able to be shared with up to three other people, with a $500,000 deposit limit. The account was formerly known as&nbsp;the Joint Savings Plus Account.<\/li>\n\n\n\n<li class=\"\"><strong>Notice Savings Account:<\/strong> Earn a high interest rate on deposits when you commit to giving at least 10 or 30 days\u2019 notice of any withdrawals.<\/li>\n\n\n\n<li class=\"\"><strong>US Dollar Account:<\/strong> A no-monthly-fee USD account that earns a high rate of interest and offers competitive exchange rates.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">EQ Bank registered accounts<\/h3>\n\n\n\n<ul class=\"\">\n<li class=\"\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/best-high-interest-tfsa\">Tax-free savings accounts (TFSAs)<\/a>.<\/li>\n\n\n\n<li class=\"\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/what-is-an-rrsp\">Registered retirement savings plans (RRSPs)<\/a>.<\/li>\n\n\n\n<li class=\"\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/mortgages\/first-home-savings-account\">First home savings accounts (FHSAs).<\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"\"><strong><strong>\u00bb MORE:<\/strong><\/strong>&nbsp;Read our in-depth review of the <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/eq-bank-tfsa-review\">EQ Bank TFSA<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Other EQ Bank services<\/h3>\n\n\n\n<ul class=\"\">\n<li class=\"\">Mortgage marketplace: Offers search tools and access to brokers.<\/li>\n\n\n\n<li class=\"\">International money transfers through Wise: Transparent fees and exchange rates.<\/li>\n\n\n\n<li class=\"\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/about-business-bank-accounts\">Business bank account<\/a> and guaranteed investment certificate (GIC).<\/li>\n\n\n\n<li class=\"\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/eq-bank-gic-rates\">Personal registered and non-registered GICs<\/a>.<\/li>\n<\/ul>\n\n\n<div class=\"c-block-house-ad wp-block-nerdwallet-blocks-house-ad\">\n\n\t\t\t<div class=\"c-promotion-banner__partner-spotlight\">\n\t\t\t<img\n\t\t\t\tsrc=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/plugins\/nerdwallet-blocks\/assets\/images\/nerdwallet-bug.svg\"\n\t\t\t\talt=\"Nerdwallet Logo\"\n\t\t\t\/>\n\t\t\t<span class=\"c-promotion-banner__partner-spotlight--title\">\n\t\t\t\tPartner Spotlight\t\t\t<\/span>\n\t\t<\/div>\n\t\n\t<div class=\"c-block-house-ad__wrapper\">\n\t\t<div class=\"c-block-house-ad__inner\">\n\t\t\t<div class=\"c-house-ad__content-wrapper c-house-ad__content-wrapper__no-image\">\n\t\t\t\t\n\t\t\t\t<h4 class=\"c-block-house-ad__title\">EQ Bank<\/h4>\n\t\t\t\t\t\t\t\t\t<p class=\"c-block-house-ad__content\">\n\t\t\t\t\t\tFind the best EQ bank account for your needs.\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t\t<div class=\"c-block-house-ad__cta wp-block-button\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/go\/3852?section=ha\" target=\"_self\" rel=\"nofollow noopener noreferrer\" class=\"c-block-house-ad__cta-button nw-cta track-click-mon wp-block-button__link wp-element-button\" data-placement=\"Promotional banner\">Explore Now<\/a><\/div>\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<div class=\"c-block-house-ad__image-wrapper\">\n\t\t\t\t\t<div class=\"c-block-house-ad__image\">\n\t\t\t\t\t\t<img decoding=\"async\" class=\"c-block-house-ad__icon-img\" src=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/07\/eq-bank-logo.jpeg\" alt=\"Ad Icon\" style=\"max-width: 200px; max-height: 200px;\" \/>\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">EQ Bank fees<\/h2>\n\n\n\n<p class=\"\">One of EQ Bank\u2019s selling points is its lack of monthly fees, but it\u2019s one of the few that also avoids charging customers a range of other <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/bank-fees-and-charges\">common fees<\/a>:<\/p>\n\n\n\n<ul class=\"\">\n<li class=\"\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/what-is-nsf-fee\">Non-sufficient funds<\/a>: $0<\/li>\n\n\n\n<li class=\"\">Dormant account fee: $0<\/li>\n\n\n\n<li class=\"\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/what-is-interac-e-transfer\">Interac e-Transfer<\/a>: $0<\/li>\n\n\n\n<li class=\"\">RRSP or TFSA transfer to another institution: $0<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Who EQ Bank is best for<\/h2>\n\n\n\n<p class=\"\"><strong>Canadians in search of a no-frills, fee-free online banking experience that offers competitive interest rates.<\/strong><\/p>\n\n\n\n<p class=\"\">EQ Bank may not offer the same variety of accounts or financial products as some of its competitors, but sometimes less is more. EQ\u2019s accounts, which allow unlimited transactions, provide customers an inexpensive way to handle their daily banking needs while helping them earn up to 4.00%* interest.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Pros and Cons of EQ Bank<\/h3>\n\n\n\n<p class=\"\">There\u2019s plenty to like about EQ Bank, but no <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/what-is-a-credit-union\">bank or credit union<\/a> is without its drawbacks. Here\u2019s what to consider before you open an account.<\/p>\n\n\n\n<div class=\"wp-block-nerdwallet-blocks-pros-cons c-block-pros-cons\"><h4 class=\"c-block-pros-cons__pros-title\">Pros of EQ Bank<\/h4><ul class=\"c-block-pros-cons__pros-values\"><li>High interest rates on an ongoing basis, not just as introductory offers, including on US dollar accounts.<\/li><li>Not only no monthly fees, but hardly any fees at all.<\/li><li>Straightforward website and easy-to-use app should make online banking easy, even for the less tech-savvy.<\/li><li>The EQ Bank Card, a prepaid MasterCard, offers cash back and free withdrawals from all ATMs in Canada.<\/li><\/ul><h4 class=\"c-block-pros-cons__cons-title\">Cons of EQ Bank<\/h4><ul class=\"c-block-pros-cons__cons-values\"><li>Account offerings may feel limited for some customers.<\/li><li>No true debit card; the EQ Bank Card must be loaded by transferring money from your Personal Account, which may not be convenient.<\/li><li>Online-only banking, with no physical branches, may not be right for everyone.<\/li><\/ul><\/div>\n\n\n\n<p class=\"\"><strong>\u00bb MORE:<\/strong>&nbsp;Read the&nbsp;<a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/banking-eq-bank-vs-tangerine\">EQ Bank vs. Tangerine<\/a>&nbsp;features and differences.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How EQ Bank compares to other online banks<\/h2>\n\n\n<div class=\"c-tablepress-table-wrapper\" style=\"overflow-x: auto;\">\n<table id=\"tablepress-441\" class=\"tablepress tablepress-id-441\">\n<thead>\n<tr class=\"row-1 odd\">\n\t<th class=\"column-1\"><\/th><th class=\"column-2\">ATM access<\/th><th class=\"column-3\">Are deposits insured?<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-hover\">\n<tr class=\"row-2 even\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/canadian-tire-bank-review\">Canadian Tire<\/a><\/td><td class=\"column-2\">N\/A<\/td><td class=\"column-3\">Yes, by the Canada Deposit Insurance Corporation.<\/td>\n<\/tr>\n<tr class=\"row-3 odd\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/eq-bank-review\">EQ Bank<\/a><\/td><td class=\"column-2\">Free at any ATM in Canada (fees are reimbursed).<\/td><td class=\"column-3\">Yes, by the Canada Deposit Insurance Corporation.<\/td>\n<\/tr>\n<tr class=\"row-4 even\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/simplii-financial-review\">Simplii Financial<\/a><\/td><td class=\"column-2\">Free at any CIBC ATM.<\/td><td class=\"column-3\">Yes, by the Canada Deposit Insurance Corporation.<\/td>\n<\/tr>\n<tr class=\"row-5 odd\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/tangerine-bank-review\">Tangerine Bank<\/a><\/td><td class=\"column-2\">Free at any Scotiabank or Global ATM Alliance ABM.<\/td><td class=\"column-3\">Yes, by the Canada Deposit Insurance Corporation.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n\n\n<p class=\"\"><strong>\u00bb MORE:<\/strong>&nbsp;Check out our&nbsp;<a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/reviews\">Banking reviews<\/a>&nbsp;of other Big Banks, credit unions and online-only banks.<\/p>\n\n\n\n<div class=\"wp-block-nerdwallet-blocks-faq c-block-faq\" itemscope itemtype=\"https:\/\/schema.org\/FAQPage\"><div class=\"c-block-faq__wrapper\"><div class=\"c-block-faq__header\"><h2 class=\"c-block-faq__title\"><\/h2><\/div><div class=\"c-block-faq__section-list\">\n<div class=\"wp-block-nerdwallet-blocks-faq-section\"><div class=\"c-block-faq-section c-block-accordion-wrapper\"><div class=\"c-block-accordion__header\"><h3 class=\"c-block-accordion__title\">EQ Bank frequently asked questions<\/h3><\/div><div class=\"c-block-accordion-list\">\n<div class=\"c-block-faq-item c-block-accordion-item c-block-accordion-item--active\" itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\"><div class=\"c-block-accordion-item__header\"><div class=\"c-block-accordion-item__title\" itemprop=\"name\">Who owns EQ Bank?<\/div><\/div><div class=\"c-block-accordion-item__content\" itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\"><div class=\"wp-block-nerdwallet-blocks-faq-item\" itemprop=\"text\">\n<p class=\"\">EQ Bank is an online-only offshoot of Equitable Bank, Canada\u2019s seventh-largest independent Schedule 1 bank.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"c-block-faq-item c-block-accordion-item c-block-accordion-item--active\" itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\"><div class=\"c-block-accordion-item__header\"><div class=\"c-block-accordion-item__title\" itemprop=\"name\">How much interest does EQ Bank pay?<\/div><\/div><div class=\"c-block-accordion-item__content\" itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\"><div class=\"wp-block-nerdwallet-blocks-faq-item\" itemprop=\"text\">\n<p class=\"\">EQ Bank currently offers a competitive&nbsp;4.00%*&nbsp;interest rate on its Personal and Joint accounts. Account holders earn a base rate of 2.25% and can earn an additional 1.75% by receiving direct deposits of at least $2,000 per month. The U.S. Savings account currently earns customers 2.75%. Rates are variable and subject to change at any time.<\/p>\n<\/div><\/div><\/div>\n<\/div><\/div><\/div>\n<\/div><\/div><\/div>\n\n\n\n\t<section class=\"c-block-card-grid container\"\n\t\t\t>\n\t\t\t\t\t<h4 class=\"c-block-card-grid__title\">\n\t\t\t\tDIVE EVEN DEEPER\t\t\t<\/h4>\n\t\t\n\t\t<div class=\"c-block-card-grid-scroll column-four\">\n\t\t\t<div class=\"c-block-card-grid-scroll__column\">\n<div id=\"post-2882\" class=\"c-block-card post-2882 page type-page status-publish has-post-thumbnail hentry content-classification-banking topic-type-of-banking-accounts cluster-saving-account\">\n\t<div class=\"c-block-card__inner c-block-card__inner--large\">\n\t\t\t<a class=\"c-block-card__image-wrapper\" href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/best-online-savings-accounts\" rel=\"bookmark\">\n\t\t<img loading=\"lazy\" width=\"460\" height=\"191\" decoding=\"async\" src=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2021\/12\/Young-woman-depositing-check-by-phone-in-the-cafe-for-online-bank-account-e1638466050696-460x191.jpg\" class=\"c-block-card__image wp-post-image\" alt=\"Canada&#8217;s 22 Best Online Savings Accounts for 2025\" \/>\t<\/a><!-- .c-entry__thumbnail -->\n\t\t\t<div class=\"c-block-card__content-wrapper\">\n\t\t\t\n<h4 class=\"c-block-card__title\">\n\t<a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/best-online-savings-accounts\" rel=\"bookmark\" class=\"c-block-card__title-link\">\n\t\tCanada&#8217;s 22 Best Online Savings Accounts for 2025\t<\/a>\n<\/h4>\n\n\t<div class=\"c-block-card__content\">\n\t\t<p>Online savings accounts offered by virtual banks have competitive interest rates and low or no fees.<\/p>\n\t<\/div>\n\n\t<div class=\"c-block-card__authors\">\n\t\t\t<\/div>\n\t\t<\/div><!-- .c-card__content-wrapper -->\n\t<\/div>\n<\/div><!-- #post-2882 -->\n<\/div><div class=\"c-block-card-grid-scroll__column\">\n<div id=\"post-11193\" class=\"c-block-card post-11193 page type-page status-publish has-post-thumbnail hentry content-classification-banking topic-type-of-banking-accounts cluster-guaranteed-investment-certificates-gic\">\n\t<div class=\"c-block-card__inner c-block-card__inner--large\">\n\t\t\t<a class=\"c-block-card__image-wrapper\" href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/eq-bank-gic-rates\" rel=\"bookmark\">\n\t\t<img loading=\"lazy\" width=\"386\" height=\"290\" decoding=\"async\" src=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/06\/eq-bank-logo-386x290.jpeg\" class=\"c-block-card__image wp-post-image\" alt=\"Best EQ Bank GIC Rates for January 2025\" \/>\t<\/a><!-- .c-entry__thumbnail -->\n\t\t\t<div class=\"c-block-card__content-wrapper\">\n\t\t\t\n<h4 class=\"c-block-card__title\">\n\t<a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/eq-bank-gic-rates\" rel=\"bookmark\" class=\"c-block-card__title-link\">\n\t\tBest EQ Bank GIC Rates for January 2025\t<\/a>\n<\/h4>\n\n\t<div class=\"c-block-card__content\">\n\t\t<p>EQ Bank\u2019s GICs are no-frills, fee-free investment options with a high interest rate and an ultra-low minimum deposit.<\/p>\n\t<\/div>\n\n\t<div class=\"c-block-card__authors\">\n\t\t\t<\/div>\n\t\t<\/div><!-- .c-card__content-wrapper -->\n\t<\/div>\n<\/div><!-- #post-11193 -->\n<\/div><div class=\"c-block-card-grid-scroll__column\">\n<div id=\"post-13423\" class=\"c-block-card post-13423 page type-page status-publish hentry content-classification-banking topic-banking-vertical-hub cluster-banking-vertical-hub\">\n\t<div class=\"c-block-card__inner c-block-card__inner--large\">\n\t\t\t<a class=\"c-block-card__image-wrapper\" href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/reviews\" rel=\"bookmark\">\n\t\t<div class=\"c-block-card__placeholder\">\n\t\t\t<img\n\t\t\t\tclass=\"c-block-card__image nw-placeholder-image\"\n\t\t\t\tsrc=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/themes\/nerdwallet\/assets\/images\/nerdwallet-placeholder-310x207.webp\"\n\t\t\t\talt=\"Image Placeholder\"\n\t\t\t>\n\t\t<\/div>\n\t<\/a><!-- .c-entry__thumbnail -->\n\t\t\t<div class=\"c-block-card__content-wrapper\">\n\t\t\t\n<h4 class=\"c-block-card__title\">\n\t<a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/reviews\" rel=\"bookmark\" class=\"c-block-card__title-link\">\n\t\tNerdWallet Canada&#8217;s Banking Reviews\t<\/a>\n<\/h4>\n\n\t<div class=\"c-block-card__content\">\n\t\t<p>We&#8217;ve reviewed Big Banks, credit unions and online-only banks \u2014 along with some of their most popular products \u2014 to help you understand the pros, cons and perks.<\/p>\n\t<\/div>\n\n\t<div class=\"c-block-card__authors\">\n\t\t\t<\/div>\n\t\t<\/div><!-- .c-card__content-wrapper -->\n\t<\/div>\n<\/div><!-- #post-13423 -->\n<\/div><div class=\"c-block-card-grid-scroll__column\">\n<div id=\"post-35021\" class=\"c-block-card post-35021 page type-page status-publish has-post-thumbnail hentry content-classification-banking topic-financial-institution cluster-other-financial-institutions\">\n\t<div class=\"c-block-card__inner c-block-card__inner--large\">\n\t\t\t<a class=\"c-block-card__image-wrapper\" href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/banking-eq-bank-vs-tangerine\" rel=\"bookmark\">\n\t\t<img loading=\"lazy\" width=\"460\" height=\"192\" decoding=\"async\" src=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2023\/05\/eq-bank-vs-tangerine-article-image-e1684885485741-460x192.jpg\" class=\"c-block-card__image wp-post-image\" alt=\"EQ Bank vs. Tangerine: Features and Differences\" \/>\t<\/a><!-- .c-entry__thumbnail -->\n\t\t\t<div class=\"c-block-card__content-wrapper\">\n\t\t\t\n<h4 class=\"c-block-card__title\">\n\t<a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/banking-eq-bank-vs-tangerine\" rel=\"bookmark\" class=\"c-block-card__title-link\">\n\t\tEQ Bank vs. Tangerine: Features and Differences\t<\/a>\n<\/h4>\n\n\t<div class=\"c-block-card__content\">\n\t\t<p>One of the main differences between EQ Bank and Tangerine is how the two online banks handle fees for using ATMs. <\/p>\n\t<\/div>\n\n\t<div class=\"c-block-card__authors\">\n\t\t\t\t<div class=\"nw-written-by-layout-inline\">\n\t\t\t\n\t\t\t<div class=\"nw-written-by-layout-inline--wrapper\">\n\t\t\t\t<a href=\"https:\/\/www.nerdwallet.com\/ca\/author\/sjahagirdar\" class=\"author url fn\" rel=\"author\"><img loading=\"lazy\" decoding=\"async\" width=\"32\" height=\"32\" src=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/03\/Headshot_Siddhi-Jahagirdar-e1648746969870-40x40.jpg\" class=\"avatar avatar-32 photo wp-post-image\" alt=\"\" \/>Siddhi Bagwe<\/a>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div><!-- .c-card__content-wrapper -->\n\t<\/div>\n<\/div><!-- #post-35021 -->\n<\/div>\t\t<\/div>\n\t<\/section>\n\n","protected":false},"excerpt":{"rendered":"<p>EQ Bank, the online-only offshoot of Equitable Bank, offers a variety of savings and investment accounts, as well as a mortgage 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customers.\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"No true debit card; the EQ Bank Card must be loaded by transferring money from your Personal Account, which may not be convenient.\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Online-only banking, with no physical branches, may not be right for everyone.\"}]}}}"},"content-classification":[15],"topic":[107],"cluster":[213],"pp_author":[307],"acf":[],"apple_news_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>EQ Bank Review 2025 - NerdWallet Canada<\/title>\n<meta name=\"description\" content=\"EQ Bank, the online-only offshoot of Equitable Bank, offers a hybrid chequing account, investment accounts and a mortgage marketplace.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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