{"id":854476,"date":"2020-06-02T11:06:11","date_gmt":"2020-06-02T15:06:11","guid":{"rendered":"https:\/\/www.finder.com\/ca\/?p=854476"},"modified":"2026-06-16T09:01:37","modified_gmt":"2026-06-16T13:01:37","slug":"eq-bank-review","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/banking\/eq-bank-review","title":{"rendered":"EQ Bank review: Is this digital bank worth it?"},"content":{"rendered":"

EQ Bank is a leading Canadian online bank known for offering low fees and competitive interest rates. In this EQ Bank review, we break down what you need to know about its accounts and services, rates, safety, fees, pros and cons and more. We\u2019ve also selected some featured EQ Bank products.<\/p>

What is EQ Bank?<\/h3>

EQ Bank was launched in 2016 by Equitable Bank and is headquartered in Toronto. It operates entirely online, so there are no branches or locations you can visit for in-person service. Low overhead costs translate into lower fees \u2014 EQ Bank is known for being affordable and offering very competitive interest rates.<\/p>

EQ Bank offers a range of personal banking and investment accounts including a chequing account, savings account, joint accounts, US dollar account, TFSAs, RSPs and GICs.<\/p>

It offers international money transfers via Wise, a third party service. EQ Bank also hosts a mortgage marketplace where you can browse 2,000+ products from various lenders.<\/p>

Summary of EQ Bank accounts<\/h3>
Account<\/th>Monthly fee<\/th>Interest rate<\/th><\/th><\/tr><\/thead>
EQ Bank Notice Savings Account<\/td>$0<\/td>2.35% - 2.75%<\/span><\/strong><\/td>
\r\n
\r\n \r\n Go to site\r\n <\/a>\r\n\r\n <\/div>\r\n <\/section><\/td><\/tr>
EQ Bank Personal Account<\/td>$0<\/td>Earn 2.75%<\/b><\/span><\/strong><\/td>
\r\n
\r\n \r\n Go to site\r\n <\/a>\r\n\r\n <\/div>\r\n <\/section><\/td><\/tr>
EQ Bank TFSA<\/td>$0<\/td>1.50%<\/strong><\/td>
\r\n
\r\n \r\n Go to site\r\n <\/a>\r\n\r\n <\/div>\r\n <\/section><\/td><\/tr>
EQ Bank RSP<\/td>$0<\/td>1.50%<\/strong><\/td>
\r\n
\r\n \r\n Go to site\r\n <\/a>\r\n\r\n <\/div>\r\n <\/section><\/td><\/tr>
EQ Bank US Dollar Account<\/td>$0<\/td>2.75%<\/strong><\/td>Learn more<\/a><\/td><\/tr><\/tbody><\/table>

Summary: EQ Bank details<\/h3>
  • EQ Bank transit number (or branch number): 80002<\/li>
  • EQ Bank institution number (or routing number): 623<\/li>
  • EQ Bank phone number: 1-844-437-2265 (or 1-416-551-3449 if outside of North America)<\/li><\/ul>

    Your EQ Bank account number is a unique nine-digit number you can find under your account details after logging into the EQ Bank app or online portal.<\/p>

    \n
    \n <\/div>\n
    \n
    \n