EQ Bank Reviews 255

Just opened an account 2 weeks ago and have been anxiously awaiting my new bank card to come in the mail to use for an upcoming trip. I just realized that you need to separately order a bank card as it is not automatic. Now the card will not arrive in time to use for the trip.
It was not clear that receiving a bank card needed to be separately requested and there is now way to expedite the delivery. Very disappointed!

My wife and I obtained a mortgage through Equitable Bank at a time when were were bankrupted through COVID era lockdowns. We desperately needed to restore our credit rating, and assumed that all lenders were obliged to report on client performance. It was only at the end of 4 years worth of perfect history did we discover they did not report any of this. Even after requesting that they report to the credit bureaus on a one-time basis, they refused. Our subsequent mortgage was obtained at a terrible interest rate, primarily due to the absence of data that would have repaired our rating at the credit bureaus.

EQ bank has become one of the worst Banks. They now have engaged in very misleading advertising. They say sign up and get 3.3% daily interest in your chequing account. They fail to say you must have a minimum of $2,000.00 direct deposita each month? Scammers

Well I was happy with this bank until I deposited a cheque. I deposited it on Sept 2 and it's still not available. I called and they only release $1500 of it after 5 business days and the rest after 9 business days. Waiting 9 days is rediculous. This process takes 1-3 days at a normal bank and 5 days at the very most with slower banks. Holding my money longer than needed is unacceptable and I will be moving to another bank.

They locked my mom's and my shared account because she doesn't speak english.

There is no way unless she goes to attorney to unlock the account. But she cannot do this as at this moment she is out of country.

EQ Bank often frustartes users with glitchy online banking, slow transfers, and unhelpful customer service making it feel unreliable despite being a digital bank.

I called EQBank to report my EQ card being compromised, the woman that helped was Annu and she was very helpful, professional and patient. As well she had a great phone manner and made me feel like a valued client. Please, EQ, don’t EVER switch to Ai customer service. With service reps like Annu you will retain clients not drive them away. Thanks
And… give her a raise 😄

Poor service ! My experience has not been a good one , The overall process with pay is not impressive and not in the same classification with TREATY .

Turning point , advance solution and good pay.

Horrible!
Incredibly glitchy website can’t do anything without “tech difficulties” error popping up on mobile browser or Pc. Spent weeks trying to register my new card and it would lead you to do the same steps over and over and never register or glitch out.

Absolutely useless rude and incompetent staff, the manager has an especially low IQ and doesn’t understand basic English. They will run you in circles, waste your time and resolve nothing.

You can get better customer service from the homeless man under the bridge.

glitchy and useless, don’t waste your time with them

I had to call 4 times before i was connected to someone that could speak english, and the person i spoke to was having a hard time matching my questions with the correct useless rebutile answer. was comparable tio going through a Tim

hortons drivethrough

Was a good bank I was doing my tax money an thay wont let me get them out thay say my id from Ontario wont wont but the bank is in Ontario an i went there an got my account but I can't get my money out

Used to be great, but they now falsely advertise their interest rates. They force you to have direct deposit from an employer to have the real advertised rate on their web page, but it's not possible for everyone, such as self employed people, which means their website has false advertising + they discriminate people based on the type of job that they have.

We started with EQ close to the end of January. NO REGRETS! As seniors on a fixed income, we appreciate the high interest on EVERYTHING! At first, I was upset that there was no debit card available - only Mastercard - BUT it's easy to transfer - it can even be set to automatically load funds (I choose how much) if it gets below a certain amount AND I get interest on every penny until it's used! I also like the fact that I can spend it anywhere in the world where Mastercard is accepted and in whatever currency is necessary AND I get a percent back on ALL purchases. Because we live in a small town, I don't like to use Mastercard as the vendors incur high fees SO I go to the nearest ATM and withdraw cash. GUESS WHAT - any fees are refunded! I am coming out much further ahead at the end of the month than with my former banks - 1 was online only and the other a leading bank with branches. Best part is if I have a question my call goes through without waiting a long time AND the folks who answer are in Canada and I can understand them - no more El Salvador, Dominican Republic or India! I think this will be a forever bank for us! Thank you EQ!!!!

They consistently withdraw random amounts small and Large amounts of money from my "free" account.

There's no record of any of it and no justification. The money just disapears and they give you a new balance of available funds.

This is ilegal.

I recently opened an account with this bank , from the start, nothing but issues with cheque deposit, interac transfers, being "flagged" from security to block an etransfer going to an apparently unknown email address, to cancel that etransfer will take 1 business day for those funds to be back into bank account and 2-3 business days for a deposited cheque to be canceled. Do not recommend this bank

If it wasn't Canada I would say they are a fraud, but I want to believe that they have horrible operation and processes.

I have my funds locked and not being able to pay my bills and taxes and the answer was always the same, wait 5 (FIVE DAYS) for a solution

Such a waste of time and resources, they are not prepared for a large number of clients. Don't risk your money!

I need a replacement card and after 15 days still no card. What bank won't deliver a card by express post if you need a card ro be replaced?

Now I am told they will send out another card with no guarantee it will arrive in the 7 days they promised.

Not there to satisfy the clients.

This is a bank that is not worth switching to. It advertises a high interest rate to bring people in, then lowers before you experience any benefits. Transfers have holds that are ridiculously long. There are countless technical difficulties, for example unable to login, unable to send a simple etransfer. It looks like it will work, then unexpectedly bumps you out of the website. The inefficiency isn't worth it. PC seems to have the same rate of 3.5% without any hassles. Can't see why EQ is better if they no longer offer the 4% rate any longer. Don't waste your time.

EQ Bank is required by law to make the first $100 of a deposited cheque available. They have repeatedly made this process difficult and at times outright denied the "request" for these funds. There isn't supposed to be any "request," they are required to do so by law.

In addition to this, their technology is inadequate and insecure. I once made a transfer from my savings account to my debit card and $30 was somehow "lost" in the transfer due to a bug. These funds were never refunded to me.

They are not a real financial institution and you should not trust them with your funds or to even follow the country's laws.

I’m beyond disappointed with how this bank has treated me. I tried to send **$500 via electronic transfer** to pay for **urgent medication** — I'm a **person with a disability** and rely on that money to manage my health. The transfer never went through, and the money **disappeared**. It was **not sent, not refunded, and not available to me**.

When I contacted the bank, they told me to wait **3 business days**. That came and went — nothing. Now, after escalating the issue to OBSI, I’ve been told it could take **up to 56 days** to investigate. How is someone supposed to wait nearly two months when that money is meant for life-saving medication?

To make matters worse, the bank even **blocked my account temporarily**. No support. No urgency. Just cold responses and delays. This is not just poor customer service — this is dangerous. It shows a total lack of care for **vulnerable customers** who depend on their accounts for essential needs.

I would never recommend this bank to anyone. If you're vulnerable, disabled, or rely on timely access to your funds, **stay far away**.