EQ Bank Reviews 255

Utterly useless chatbot. Althoug all I have used are useless so why should I be surprised? I am trying to unlock my account. Traveling out of the country right now so I will not spend big dollars on roaming charges to talk to them. I entered "unlock account" in the chat and the chatbot gives me a long list of instructions starting with "Click on the "Unlock Account" button." There of course is no such button, anywhere on the page. I am using a laptop so decided to see if that is something that is only on the phone app. Nope, no "Unlock Account" button there either. I asked the chatbot where it is and just get the same whole list of instructions. So I navigate to EQ bank contact us, and it says call or chat with us during these hours, which I am within, or you can use our chatbot 24/7. Well, I know I don't want that chatbot but there is only one chat icon on the page. And when I click on it guess what? I get connected to the same useless chatbot. Utter garbage.

Constant 'We are experiencing and error' messages, chat bot is completely unhelpful, screens time out after about 15 seconds and you have to go through the really fun sign in process, hopefully you dont need to link an external account.
Tried closing the account 2 years ago and was unable because at the time there was less than $5 in the account, tried today with the same issue. So my money that was in there has been gaining interest that EQ will profit from. This is just the tip of the iceberg and I am hoping to save other from the hell hole working with this bank can turn into. Nice interest rate, thats how they get you.

2FA authentication does NOT work

Was a victim of fraud and got hacked, and even though EQ claim to 100% reimburse you for fraud, they did not. Lost thousands of dollars because the hacker bypassed their 2FA system, absolutely horrifying, do not bank with this company.

Worst bank ever they do not stand by there policies, they make the rules up to suit themselves. They claim its a 5 day hold on checks when in fact it 6 business days. Also frequently you cant sent transfer as there is always something wrong. There are other options besides Eq like Neo, Koho tangerine and more.

Tried using their business bank account. App won’t deposit cheques and their chat help is to get me to try to uninstall and reinstall app. Even if it worked, depositing cheques is very slow. Can you pay employees from the account, into their account? No, you can’t. Can you pay payroll deductions to the CRA or WCB premiums from the account? No you can’t. Can you deposit money into the account directly from the client through merchant services? No you can’t. A business account that is unable to do things that every business has to do. Useless. You will still need your “normal” business account.

EQ Bank, you open an account with them, they don't automatically send you a card, you have to request one afterwards, Be very careful, I Opened an account for an upcoming trip to a family members funeral, I chat with them, they confirm account is opened and I should receive everything in 5 to 10 business days, HAHA, I call on day 9 and "Oh you havn't ordered your card yet" and we can't prioritize you card.. sorry you got the wrong info but we won't be able to help you at all, even though we are the ones that said that, so far Im out well over $2000 in flights, and I don't get to a funeral, and there answer, we will put a complaint in for you, that will take 3 business days to answer.
Stay away!!!!

The autoload feature for the EQ Bank Card stopped working about a week ago. I thought I may not have set I properly and had to wait a couple of days to get access to my account. I was not able to set auto load so started a chat which took sometime to connect. Finally connected and went through a dialogue to learn the bank was aware autoload was not working and they do not have an ETA for when it will work but I can always transfer funds by signing-in to my account. I will be travelling internationally in a few days and was counting on autoload for security reasons. I suggested EQ Bank should be proactive in letting its customers know when they have problems or issues with providing specific bank services.

This company is nothing but a headache. If you want your money to go far, steer clear from their Trust offices ran by Nicole Steven’s.

I initially had no issues with my account and eventually got my adult son to sign up. There started to be a lot of issues trying to sign in on the website and app. Frequently money would not be accessible
ble due to "technical difficulties".

But worse, my son had terrible problems. After he made his account they locked him out and made him redo sending in his identification stuff. Later he got locked out trying to access the app. This final straw was he just got locked out because, as many others have stated here, security wanted identification documentation AGAIN. Security claimed they "tried to get ahold of you but when we couldn't we locked the account to get your attention". What the heck?! There were no emails nor calls from them. They just locked his account a week before Xmas. He felt like his money was being held hostage! Unbelievable. Not only that we had to call twice to even get the email with the link to do the ID verifications. They never emailed him to let him know his account was unlocked either, he just kept checking each day and finally, day before Xmas, he was able to get his money out.

We understand security is important, but this not how to go about it. We use only Tangerine and Neo now, and will never go back to EQ.

For me its a Zero rating bank after my CCB was deposited in my account an amount of $6440. I did one etransfer to pay my rent after which my account was block due to Security reason. ( Don't even know what security reason ). I called the security department, I was told I need to verify myself so stupid. I guess that's was done when I opened the account as all bank do when some filled in their application. But anyways lets come to the fact, so during call I was told I need to do a selfie verification and give proof some proof of address.
Eventually after 3 to 4 hrs after that call I received an email with a link. I completed the verification. The next day I received another email, this time asking me to just do a selfie verification, so I completed this one also. Call the bank this time I am told to call during business time as the security department is not working. "I thought the security and fraud department need to have operational 24hrs like all other bank." Exchanged so many emails with not even one reply. I call again today I was told this might take longer as there is holidays coming. Mean time I defaulted on all my payment arrangement which was scheduled and left with no money to buy food and my kids a Christmas gift. I have nothing in my pantry to feed me and my kids.
Now its kind of me begging from people I know to help me for food.
These guys they don't have any consideration for people. I already remove this account for all my upcoming direct deposit. I WOULD HIGHLY RECOMMEND PEOPLE TO STAY AWAY FROM THIS BANK. IF YOU DON'T WANT TO GO THROUGH WHAT IM GOING. I SURE THIS WILL BE UNFORGETTABLE CHRISTMAS FOR ME AND MY FAMILY SPECIALLY MY KIDS.

Boo hiss. Signed up and rates were almost 5% for a checking account..within months the rates dropped three times to 2.5% now.. scam. Tangerine offers 4-5.5 % on a regular basis now…there is a new three month interest offer every 3 months. Don’t waste your time with this wannabe…they suck!

Poor services ....

fake ...

A better alt ... is ...

...future wise easy...

My account was breached and over $4,000 was stolen through a series of fraudulent e-transfers. EQ Bank said they will not reimburse me, despite their online banking security guarantee that says otherwise. I quote: "If Unauthorized Activity is conducted on your account through our mobile and online banking services, you are protected and will be reimbursed 100% for any resulting losses to your account...." Yeah right. They basically said it was my fault and there was nothing they could do.

I've had my account since 2016 and have never used e-transfers to move money, so when the first e-transfer happened, I wish there would have been some kind of notification. A couple of weeks later, when I was notified of the fraudulent activity, they said their security team was doing an investigation and would get back to me within 30 days. I never heard from their security team. Instead, my account was locked and I was unable to access it. Whenever I called customer service, I was told the security team would call me back in 1-2 business days. I didn't get any call backs. So, I would call again and was told the same thing, "The security team will call you back in 1-2 business days." Again, no calls.

I was finally able to get through to someone that was able to help me access my account and find out what was going on with the security investigation. That's when they told me they would not cover my losses. At that point I decided to close the account (why keep money at a bank that won't help you if your account is compromised). However, I was unable to move the money out because my account had a restriction due to the fraudulent activity. If they already concluded their investigation and decided they weren't reimbursing me, why was my account still restricted? When I tried to get the restriction removed it was back to, "our security team will get back to you." I had to call them and was finally able to move my money out to close the account and end the nightmare with EQ Bank.

I was generally a satisfied customer, which I guess is easy when everything is fine, but as soon as something went wrong, EQ Bank failed and did not support their customer. i managed to transfer my money to S.U.N and its working for me

I would give 0 if it was possible. Since having changed my immigration status, I don't have access to my funds anymore. O have called, emailed, chatted about 10 times with them over the last year and was always told "you will get an email with instructions" which never came. It's a lot of money trapped for me for over a year now. I'm considering their ignorance criminal.

Security ? with EQ Bank is shaky be careful
Customer service continues to fail me. see comments below . EQ banks relies on email , show little interest in speaking with customer when its required all correspondents with EQ Bank is will get back to you
with in 3 4 days .... but nothing happens ?

I sent a letter to corporate office . this is the response I received :
* * we have received your email, but due to high volumes, email responses will be delayed, and a team member will provide a response within within 3-4 business days.* *
with in a minutes I receive another email response was .....
* * waiting 30 business days is too long, especially with a restricted, not having access to your funds.
Your situation is important to us, and I will escalate this matter to ensure it receives the urgent attention it deserves.
I have requested that a member of our fraud investigation team contact you within the next 24 hours to provide an update and discuss your case further. We are committed to resolving this issue as quickly as possible.
Today will make its 3rd day ?

The chatbot is useless. Frustratingly useless, to the point where the feature is basically a decoration on the app or website. If they gave out awards for worst chatbot, EQ bank would be the winner across all industries. All kidding aside it is a waste of time with the functionality that it currently has.

2nd, dont roll out a feature or tab halfway. I am extremely irritated that, still a month after seeing the transfer external fhsa tab in the app, I am prompted with a notice saying "coming soon"

This is bad management for at least 2 reasons:

1) when customers see an option in their online banking, it is expected to work.....so the lesson is, don't display the feature until it is functional!! Really pisses me off that I'm still waiting on this.

2) you have not commilunicated a clear timeliness or even an approximate date as to when this feature will be functional, just a generic statement saying "coming soon" just do better please!!

This bank does not care about us- customers . 2 times I had mortgage with them . Both time high interest . They are not in rush to make any reductions yet . Still on high interest rate . I was struggling with my payments . Decided to sell my house , at least not to loose it . Sold cheap . I have 2 months left till renewal. I am a widow with disability. They charged me penalty in amount of 7200$ . How ridiculous it can be ? They make a lot of money using us . So , my advice to all of you . Choose any other bank , not this one . Never ! Worst bank that I know personally.

I was purchasing an item from a private seller online and when we met in person I was prepared to pay through etransfer but the payment did not go through and my bank called to inform me that the transaction was marked as suspected fraud.

Well had a problem with my account at EQ Bank and they are taking their sweet time doing there investigation and took 4 days for a manager to contact me that i requested 4 days ago and totally messed things up and I emailed head office and they got ahold of someone to check into the complaint I made and the money that was taken from me i
Have to wait another 5 business days Well needless to say because tha
that money was taken from my account l I have not ate in a couple days I am diabetic and told them that the money that was taken was my groceries money and well I am in the hospital now because eq doesn't care about there customers and they have just messed with the wrong guy with who I know

Trustpilot took down my original review because they claimed it didn't meet their guidelines. That being said I will keep this short as not to have my experiences blocked again.
I should've read some of the reviews before falling for their hype. EQ has not kept the interest rate for notice savings account at 4.25% when I first contacted them on Sept 17th . Now as of November 6th it's at 3.5%. I do not trust EQ because there's a lot of inconsistencies with their agents information. Signing up was not a breeze because I was given misinformation from more than 2 agents in regards to their process which made things confusing. Not sure what they have planned for my personal information as they now have it but still can't open an account for me. Makes me angry. I decided to cancel application. The team leader who I spoke with on September 24th who identified herself as 'Miral' said she would get back to me with confirmation that my information will no longer be on their database. It's now over a month and I have not received any correspondence from her. This is a failure on their behalf which to me is why I think EQ should stand for Extra Questionable. Please make wise choices!