EQ Bank Reviews 255

In the past couple of months eq has drastically improved and is always making changes to improve based on their feedback. I'm so happy I decided to keep banking with them.

I was shopping around for a bank account for my everyday spending & came upon EQ...
I so love the commercials Eugene & Dan Levy <3 #canadianicons
I received the card today and went to activate it but my app kept closing (my internet issue) & my account ended up getting locked so no problemo I called the number on the back & their fabulous customer service rep, Michelle walked me through it :) Fabulous customer service - she was soooo nice :)
The account was unlocked after my security quesions were answered, because my internet kept kicking me off security was alerted so for my protection they locked the account.
That is so okay with me! I want my bank to protect me like that and all you have to do is call to unlock it - fabulous feature in my eyes!
I love the $0 it costs per month lol and the money back on purchases and the interest is a no brainer! Even if it's a buck a month it's something! In today's economy every little bit helps :)

Your man was very patient with me when I was unable to understand his instructions, but we were able to complete the tasks involved. Thank you for your patience and clear instructions.

As a newcomer to Canada, I wanted to open an account at EQ Bank using my foreign passport while waiting for my Canadian ID to arrive. Customer service assured me this was possible, contingent on ID verification at Canada Post.

When I went to Canada Post, I was surprised to learn they only accept US passports for verification. EQ Bank failed to mention this beforehand. They then asked me to complete their Enhanced Verification process and provide their Security Team with my ID, a selfie, and proof of address. They supplied a supposedly secure link to upload these documents and instructed me to send the proof of address to a general email that any employee could access.

I submitted all the documents, but two days later, I received an email stating, "Hello Hussain, the documents you supplied do not match the information we have." My name is not Hussain. I contacted Customer Service again, and they informed me their Security Team had not received any documents from me and had not received the proof of address email, even though the "Hello Hussain" email was a reply to my proof of address submission. After an hour of discussion, Customer Service confirmed that the Security Team had indeed received my documents.

It appears their Security Team is either overwhelmed with documents or unable to effectively search their emails, or they may simply be ignoring messages. This does not inspire confidence in an institution entrusted with my funds.

The onboarding process has now taken two weeks, during which EQ Bank has bombarded me with repetitive emails every second day, asking me to go to Canada Post to verify my identity.

Frustrated with this process, I requested the deletion of all my previously supplied documents. Four days later, I am still waiting for their reply while receiving another set of eight "Go to Canada Post" emails. When I asked for an update on my data erasure request, they replied with, "Please provide another proof of address document."

I don't understand what's going on at EQ Bank. Their incompetence is apparent at every step. Is anyone at EQ Bank able to read English? They should invest in improving their IT systems and secure methods for handling customer documents rather than spending money on marketing and paying actors from "Schitt's Creek."

Mickey Mouse Bank. When you purchase a TFSA GIC using money from your TFSA Savings Account, a message appears saying "This will affect your TFSA contribution limit". Any simpleton knows that is incorrect, but not EQ Bank.

I have been baking with EQ Bank for over a year with accounts including GIC, Savings and USD Accounts. Everything is smooth, efficient , easy and their interest rates are excellent. I have had need to contact the help department on a couple of occassional and the agents have been efficient, professional, charming and resolved my questions immediately. I am happy to recommend EQ Bank to friends and family.

EQ Bank gives a good interest rate and is very helpful when I call. A real person picks up the phone on the 2nd or 3rd ring. I've been very happy with them.

Other banks have had no issue sending a bank card to my po box, im homeless and need my social assistance money but they wont unlock my account to just let me move the money to my new account and then close the account nor will they send me my damn CARD as I've let them know I no longer want to be banking with them as they let someone clear me out just an hour after i had gotten paid after 3 weeks of starving basically. I had bought something at a gas stn in Toronto then minutes after that? They let someone from Europe spending euros clear me out. They havent even put all the money back either the dumb pieces of.... I hate this bank. Shut it down. But write me a cheque n send it to my damn PO box first. For the full amount in my account + the rest hall ate tryna skip out on. I hate yall eq bank. I hate yall so much. And yes I had alerts on, email and text notifications. None of which worked. Clowns. U should all be ashamed of yourselves. Useless.

Will the central bank of canada do something about this good for nothing bank. If you want to be happy, stay a way from this doomed bank. 30 days to have access to your funds for a BS reason. Dear EQ bank may you not last more then 2 years. You will loose everything you have as a bank for the pains you have put me through. Terrible financial institution , that’s why they can’t grow beyond just being an online good for nothing bank with a bunch incompetent staffs. Sh**me on all of you at EQ bank. I can’t have access to my fund and I have a family member who needs my help but I can’t help because EQfruad bank feels I can’t have access to my funds until 30 days. Very useless bank

In my experience so far,EQbank has been great,only had tech issues once and it was resolved within 2 days,today I needed some clarification on my TFSA account and the customer care rep Alice was very knowledgeable,keep it up,definitely referring!!!

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.