EQ Bank Reviews 

Decent interest rates and good customer service.

I'd give zero stars if I could! There online banking is a joke! The website is constantly down and I've lost access to my funds for days!! Nobody csn help you or guve you any indication of when you'll see your money again! All those giving 5 stars haven't had this experience yet but just wait your Time will come too!

Works good, some growing pains but overall the best bank in Canada!

I've used EQ for a couple years now and love it! Interest is paid on accounts and their GICs offer the best rates for consumers. I've had no need for customer service. This is not an incident but rather a general review.

Leur service est horrible... J'ai appelé cette foutue banque plus de 5 fois et j'ai choisi le français... mais ils ont décidé de mettre un anglophone au téléphone après une longue attente à la place, et j'ai dû raccrocher. Pourquoi êtes-vous au Québec si vous ne pouvez pas ou ne voulez pas offrir un service de base en français ? Tout ce que j'ai entendu de l'anglophone, c'est "rappeler", ce qu'ils ne font jamais. Ils ne doivent pas connaître la Loi 96. Je dépose une plainte contre ces amateurs.

The service is awful... I called this darn bank more than 5 times and I chose French... but they decided to put an English speaker on the phone after a long wait instead, and I had to hang up. Why are you in Quebec if you can't or don't want to offer basic service in French? All I heard from the English speaker is "call back", which they never do. They must not know about Bill 96. I'm filing a complaint for these amateurs.

This 100%-online finance bank has all it takes to be a great bank except for reliable online access through browsers and device apps.

It's truly disheartening that a bank of this caliber struggles with something as fundamental as logging in to your account.

BTW. My review is not about depicting one incident, but this is happening 80% of the time while connecting through a browser and 50% trying to connect through their Android app. I'm looking to move everything to other financial institutions as soon as my GICs mature.

Trying to see if a 4-star will get removed. Because my 5-star review got removed five times. EQ worked for me. Just saying.

EQ bank app just says we're experiencing issues try again later. Hours later it's the same. You can spend the day without access to anything and it's almost a daily occurrence.

I tried setting up a bank account with EQ Bank on Wednesday May 22 2024. I was told I would be contacted in 2-3 business days if they needed to do more identity verification. I called Monday May 27 and asked why I hadn't heard anything yet. EQ bank rep told me they would reach out today or tomorrow latest. Friday May 29 2024 I receive an email: Thanks for applying, we can't complete your request to open a personal EQ Bank personal account:

Some common reasons why for being unable to open an account may include:

Not having a Canadian bank account
Being less than the age of majority in your province
Attempting to open too many bank accounts within a short amount of time
the Bank being unable to verify your identity
Not meeting the bank's risk management practices

They did not include the bank's risk management practices in the email nor is it anywhere on their website.

Any questions or concerns please contact customer service. If customer service aren't able to address your concerns you may follow our customer complaint handling procedures found here:

You have the right to submit your complaint to the ombudsman OBSI an independenant external complaints body for further review if your complaint has gone through all three steps of our CCHP and you receive a formal response from the bank's dispute resolution office, or if it has been more than 56 calendar days from the day you made your complaint to the bank and you have yet to receive a final response

I called EQ bank today at 1-844-437-2265 and spoke to a Bank Customer Care Rep. The rep told me "You don't meet our risk appetite, there is no disputing this and we will never be opening an account for you, is there anything else I can help you with today"?

Basically, we are giving you a bunch of reasons as to why to protect ourselves from litigation. We don't want to admit we aren't opening an account with you because we don't want to be sued or lose credibility online.

I was opening a no fee bank account. I did not request any of the following: a loan, a credit card, a line of credit, a GIC, or any other products. I simply wanted to use it for savings and day to day banking reasons.

If you want to bank with a bank who actually communicates with you, one that is upfront and honest and doesn't beat around the bush to protect their own interests, I suggest you bank elsewhere.

I deposited $35k in EQ from my linked RBC and it took 7 business days to be available that's fine, as a bank they must do the required hold to protect us,
After 7 days i was able to make 2 transfers to my external US accounts and now when i'm trying to transfer my own money again, it says you need to contact support, that's what i did and keep contacting them since 3 days and they have nothing to say and now after 3 days just now someone said i need to wait for 30 days for an investigation which is a frustrating news having my 25K in there. please someone help me i have made a mistake transferring funds here i want to send it for something urgent and i'm locked
If my issue gets ressolved i will definitely come back for update.

So far Im very pleased with them. The GIC rates are great!. The one that i love the most is the no minimum amount, no monthly fees and i can withdraw in any ATM in Ontario without being charged. You get charged at first by the other bank and they reimburse to your account quite fast...

This is the worst bank I've dealt with in Canada. Just opening an account was onerous and unnecessarily burdensome. But, once opened, it only got worse. EQ's security folks call over the most minor of unusual activity (e.g. adding my wife to the account, everyday transactions). The last one was the final straw. I hung up on the employee and, now, my account is restricted from transferring money out. I can't wait to move my money back to Tangerine.

Customers service are dumps and don't know anything even dispute .
Even supervisors are stupids and management stand based their customers service and want throw plame on customer shoulder even not put in their mind upset or have deep voice or disability .

AVOID THIS BANK

Yeah, they have good rates but their customer service is TERRIBLE. I thought everything was good with them until my account got locked out...then spent part of a week trying to get a hold of someone to help me unlock it. So many bad responses from their customer service:
1) 'our unlock feature online doesnt work...because your account is locked' - huh?!?
2) they tell you that you need 2 govt issued Id's and they MUST have photos AND be currently valid. My drivers license is valid...but my passport is not and the other forms of ID (permenant resident) are not applicable. Now what am I supposed to do?!?
3) got sent a link to provide only 1 piece of govt issued photo ID (sane request) and submitted it as requested...and they rejected it...and no one ever told me and just left me sitting without access.
4) had to call back and escalate to a manager...who never called me back either

All 5-star fanboys can take their non-informed opinions elsewhere because your reviews are NOT based on reality 'I got a high interest/no fee account = 5 stars' - there are plenty of banks that meet that criteria so those reviews are useless as they don't speak to service....and service DOES matter.

Equitable Bank is the most dishonest criminal bank to deal with. My Father was with them for over 8 years and ended up in the Hospital do to being sick. He was up to date on his Mortgage payments with them but because he missed a couple payments on his HELOC (Home Equity Line of Credit) they called in the HELOC to be paid. It wouldn't have been such a bad thing to do, but they also tried to charge my Father a couple additional fees on top of the HELOC that were not warranted. These very same fees where not being requested when they informed my Father that they where going to foreclose on his house, because they are not reasonable to begin with. EQ Bank paints itself as a company that cares about Seniors and is a Bank that gives back to the community. But all they are is nothing more then a bunch of thugs that will try and steal as much money as they can from you given a chance

I called this eq bank just to find out where my calls were going to be routed to. I don't want to be answered by someone in a foreign country like India, Indonesia, Pakistan, Philippines. I need someone that can fluently speak English to understand my needs as a customer. Nobody would tell me where they were or where a Canadian call center was. Very bad customer service already. Not truthful customer service reps. Stay away from this bank.

I’m really at loss here with EQ Bank. I deposited some funds to raise my balance. however they failed to respect my payment request once I had saved up enough cash to spend. I never have to wait days for my payments to be completed with Automatron Investment because it prioritizes its clients’ needs.

I love my EQ accounts. Haven't had any issues with them. Been stashing my emergency fund with them and have bought a few GICs in my TFSA account. The interest rates are great.

I did try to open an account, no news for a week, I tried to send a message, but there was no answer...
Ask by email if my pension check applies to the 4% interest...no answer
This is a big red flag to open an account and put money there since help is nonexistent, high-interest rate at what cost?

Nov of 2023 I made the mistake of buying something online … weeks later my account is hacked and in three days 1466 dollars is removed from my account. I have no receipts , no product. I file a dispute and eq bank decides I am at fault. I have no paperwork .. yet I NEVER authorized any payments to the vendor . They sent ME a message saying the card was flagged , so why Flag the card ?? Why have a dispute investigation?? Why would I lie?? I’m going to find a better card