Review (August 2025)
With eq bank canada digital banking, you’ll get great value on our savings, investing, and payment products and services. sign up online in minutes.
7.83M
Estimated Revenue
580.98k
Website Visitors
3.5/5
Trustpilot Score
What do we know about EQ Bank?
Estimated Revenue (2020)
$7.83M
Total Employees
54
Founded
2016
Industry
Financial Services
Location
Toronto, Canada
About
EQ Bank: Description The EQ Bank Savings Plus Account is a high interest savings account with no monthly fees and no minimum balance. Open a Savings Plus Account today!
What is EQ Bank's Revenue?
EQ Bank's estimated revenue for 2024 is $7.83M.
What does EQ Bank do?
We've reimagined everyday banking with an account that combines the benefits of chequing and savings, and high interest GICs you can purchase with the touch of a button. Our Savings Plus Account offers 2.00% interest* plus the flexibility of chequing, and you won't have to wait in line or pay any fees, because we skipped the brick and mortar branches so we can focus on giving you more. Strength in numbers EQ Bank is brought to you by Equitable Bank, a federally regulated Schedule I Bank with over 750 employees and total assets under management of approximately $31 billion. For nearly 50 years, brokers across the country have been helping Canadians realize and reach their financial goals through Equitable Bank products such as mortgages, home equity lines of credit and a variety of deposit services. Equitable Bank was founded in 1970 as The Equitable Trust Company. It is a wholly-owned subsidiary of Equitable Group Inc., whose common and preferred shares are traded on the Toronto Stock Exchange.
What are the monthly traffic metrics for Eqbank?
6/mo Traffic Growth
5.00%
All Time Traffic Growth
Create Free Account
Monthly Hits
581k
Time on Site
5.2Mins
Pages per Visit
6.0
Bounce Rate
22%
How fast is Eqbank growing?
Eqbank has grown by -4.2% in the last 6 months according to SimilarWeb.
How do people interact with Eqbank?
Last month, Eqbank received 581k visitors who spent an average of 5.2 minutes on the website and visited 6.0 different pages per session. Overall, 22% of people bounce on the first visit.
How do people find Eqbank?
428.2k people (74%) visit Eqbank directly. 113k (19%) people search for them in Google. Whereas, 5.7k (1%) discover Eqbank through Facebook, Reddit, and YouTube. 9k (2%) visitors come from Eqbank's email newsletters. Finally, 429.5 (0.1%) people come from affiliates and or paid referrals.
Who uses Eqbank?
Eqbank's top market is the Canada and they receive 538.2k (92.6%) people.Then the 2nd is United States with 21.8k (3.7%).The 3rd is is Spain with 3.4k (0.6%).
Traffic Growth (last 6 months)
What do Eqbank's customers say about them?
Review Score
3.5/5
Total Reviews
8
Info
EQ Bank5 Star
25.0%
4 Star
50.0%
3 Star
0.0%
2 Star
0.0%
1 Star
25.0%
Read reviews that mention
Wilson
Really decent online bank with low fee…
Reviewed on 2021-03-24T01:34:17
Really decent online bank with low fee of service & decent interest rate. Very user friendly but justa bit hard to reach if you need to speak to someone.
read more
Keith Mozdzen
Great Interest Rates, Joint Banks Accounts, and Customer Service
Reviewed on 2021-03-08T23:12:26
The interest rates, free e-Transfers, joint bank accounts, and customer service are excellent at EQ Bank.I highly recommend this bank to anyone that is looking to get a chequing and/or savings account.
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koolaid25
STAY AWAY FROM THIS "BANK" They will lock your account if you do Interac E-Transfers or PayPal!
Reviewed on 2021-03-04T19:59:01
STAY AWAY FROM THIS BANK! Everything was fine, until it wasn't. I used this account for online shopping and doing things on e-bay/paypal & also used to for Interac E-transfers.Well, the other day I was transferring some money over & realized my account is locked/restricted.
I tried to contact online chat. Waited for an hour. They said online customer service does not deal with restricted accounts. So I called. Waited another 1.5 hours to get a hold of someone.
The person on the phone said there was nothing wrong with my account. But then I pointed out to him that there is a "Lock" symbol beside my restricted account. He then says "OH, You are locked out"... THAT'S WHAT I TOLD YOU!!!! Holy smokes! He then goes on to say... "Yeaaaaa, we are ending our relationship with you, because of your transactions - you are high risk". HIGH RISK??? I asked to please point out what transaction(s) is considered high risk? He couldn't!! And refused to answer! HOW IS THIS EVEN LEGAL?????? I never even had one NSF, and always had money in my account. There is no high risk here! They just don't like people using Interac E-Transfers & Paypal... Well guess what EQ Bank - If you haven't realized, we are in the middle of a global pandemic. Interac and PayPal usage has gone through the roof. So you better get used to people using it A LOT more, than in normal times!
Lastly, how was I not notified of you closing my account?? Isn't it LAW that you send a letter, email, call.. SOMETHING to contact the customer to notify them their account is closed? Nothing! 100% ILLEGAL ACTIONS BY THIS BANK!!
I will be filing a BBB complaint & make sure this is resolved.. I have moved onto PC Financial Money Account. EQ Bank was great at the beginning.. But I sensed something was going downhill, since the pandemic started. App always down, reducing interest rates quickly, customer service quality lacking.
Goodbye EQ Bank! I hope you get bought up by another bank or go bankrupt!
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Customer
Difficult to reach
Reviewed on 2021-01-07T14:45:28
Difficult to reach. Average phone times well over an hour
Gary C
GOOD RATES
Reviewed on 2021-01-04T22:59:27
GOOD RATES. JUST STARTED TO OFFER TFSA. LOOK THEM UP
John Clarke
Excellent interest rates
Reviewed on 2020-12-19T21:26:43
Excellent interest rates and are now doing TFSA and RRSP accounts. Progressive company and a breathof fresh air compared to other banks and their exorbitant charges and terrible interest rates
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Rajae EL
I try this because it's online banking…
Reviewed on 2020-12-17T17:36:40
I try this because it's online banking i like it
gogosarul
The best savings rate in Canada
Reviewed on 2020-02-04T14:13:17
The best savings rate in Canada, this alone should have your attention.
Easy to set up online,works great, can transfer money in/out without hassle. Free interac transfers, another bonus point.
Now about the missing star: Transferwise international transfers would be an amazing feature... but: it does not have the memo field, which is essential for any payment to a business account, which needs to have a reference to an invoice, account, etc.
I tried to tell them that this feature is useless without a memo field, but I got the standard "we are continuously improving... bla bla". Please fix it, so we can really use this feature.
Transferwise itself supports this memo field, so what is the big deal ?
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