How to apply for EQ Bank Account

Here’s the lowdown on how to get your hands on an EQ Bank Card:

1. Open a Savings Plus Account: First things first, you’ll need an EQ Bank Savings Plus Account. It’s their main account and what you’ll link your card to. Head over to their website (eqbank.ca) and click on “Open an Account.”  
2. Fill out the application: They’ll ask for your info, you know, the usual name, address, all that good stuff. Nothing too out of the ordinary.
3. Fund your account: Once your account is open, you’ll need to transfer some money into it. This is important because it’s not like a credit card, it’s more like a debit card linked to your savings.  
4. Order your card: This is the easy part! Just log into your account (either online or through their app), find the “EQ Bank Card” section, and click “Order my free card.”
5. Wait for it to arrive: It usually takes a week or two for the card to show up in the mail. Keep an eye out for it!

And that’s it! Once you have your card, you can use it for everyday purchases, and you’ll even earn some cashback. Plus, you can use it at any ATM in Canada without paying any fees.

You will be redirected to the bank’s website

Requirements / Eligibility

To open an EQ Bank Personal Account and get a card, applicants must:

• Be a Canadian resident.
• Be at least 18 years old.
• Provide a valid government-issued ID and proof of address.
• Have a bank account to fund the Savings Plus Account.

Documents Needed

Applicants should have:

• Government-issued ID (passport, driver’s license, or provincial ID card).
• Proof of Canadian address (utility bill, bank statement, or government correspondence).
• Social Insurance Number (SIN) for tax purposes.

Who Is It For?

The EQ Bank Personal Account is ideal for Canadians who:

• Prefer managing finances entirely online.
• Want to avoid monthly fees and minimum balance requirements.
• Are looking for higher returns on everyday funds compared to traditional chequing accounts.
• Frequently use e-Transfers or need to pay bills digitally.
• Make occasional international transfers and value transparent, low-cost FX through Wise.

It’s especially appealing to young professionals, students, and tech-savvy individuals who prioritize convenience, low costs, and maximizing interest on their money.

Frequently Asked Questions (FAQ)

Q: Can I use the EQ Bank Card internationally?
A: Yes, it works worldwide where Mastercard is accepted. Fees may apply depending on the transaction and currency.

Q: Can I link the card to multiple accounts?
A: No, it is linked to your Savings Plus Account only.

Q: How do I replace a lost or stolen card?
A: Log into the app or website to report it and order a replacement.

Q: Are there any hidden fees?
A: No. EQ Bank is transparent, with no monthly fees and unlimited free transfers.

Q: Is my money insured?
A: Yes, deposits are CDIC insured up to $100,000 per category, per depositor.

Mobile App and Online Banking

EQ Bank offers a robust mobile app and online platform for managing your account. Features include:

• Mobile cheque deposits
• Real-time notifications for transactions
• Bill payments and e-Transfers
• Fund transfers between accounts
• Access to account statements and account management tools

The app is designed to provide fast, intuitive, and secure banking without visiting a branch.

Customer Support and Useful Contacts

EQ Bank offers multiple support channels:

• Website: eqbank.ca
• Email: [email protected]
• Phone: 1-844-437-2265
• Live Chat: Available through the website and app

Support is fully digital, aligning with the bank’s online-first approach.

Conclusion

The EQ Bank Personal Account and Card provide a modern, digital-first solution for Canadians who want convenience, higher interest, and minimal fees. Perfect for tech-savvy individuals, students, and young professionals, it simplifies everyday banking while maximizing returns on your money.

With a fully online application, robust mobile app, free domestic and international transfers, and strong security measures, EQ Bank offers one of the most flexible and cost-effective personal accounts in Canada.