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A side-by-side comparison of ratings, customer experience, products, fees, and pros & cons to help you choose the right bank.
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EQ Bank edges ahead on our overall rating (4.2 vs 4.0), but the right pick depends on which products and fees matter most to you.
Overview
All products offered
3 products
Savings
EQ Notice Savings Account
ATB Financial is a provincially-owned bank with $110 billion in assets under management. What started as a small treasury branch has transformed into what ATB Financial calls “the largest financial institution headquartered in Western Canada.” Its operations are mainly in Alberta, though in 2023, ATB Wealth, its full-service brokerage, first expanded outside of the province. As of 2026, the wealth management arm has locations in both British Columbia and Saskatchewan.
With a range of financial services, ATB offers its customers access to chequing and savings accounts as well as credit cards, mortgages, business banking and wealth management. Its savings rates are more competitive than the biggest banks in Canada, offering slightly better returns on savings. It still trails the digital banks, though.
The institution also has several credit cards available to Alberta residents. Each of the cards has different perks, including cashback or rewards, though eligibility restrictions and constraints on rewards means their credit card offering lacks in comparison to the larger banks.
ATB also has a range of lending products as well as business banking and access to investment services through ATB Wealth and ATB Cormark Capital Markets. The bank offers more depth than many smaller regional institutions. And more than the digital banks. Its Alberta focus, however, makes it less convenient for Canadians who live outside of the province. For anyone inside its core market, ATB may be a strong full-service alternative.
While some of the biggest banks in Canada have been around for over two hundred years, EQ Bank is relatively new on the scene. It’s the digital platform of Equitable Bank, which is Canada’s seventh-largest bank ranked by assets. Established in 2016, EQ Bank received recognition from Forbes, appearing on its World’s Best Banks list from 2021 through to 2025. As of 2026, the bank has $10 billion in deposits.
What EQ Bank lacks in variety, it makes up for with quality. Its everyday banking lineup is limited to only a handful of choices, but each one is a unique offering. For example, the EQ Notice Savings Account provides one of the top interest rates outside of a promotional period with no monthly fees or minimum balance. The catch? You must provide notice before making withdrawals. Meanwhile, its EQ Personal Account pays interest, which is not common for a chequing account in Canada.
Credit card options are, again, limited, though well-ranking. Its EQ Bank Card is the only card that the bank offers. And it’s a prepaid card with a cashback feature, not a traditional credit card. That said, Finly Wealth rated it as the “best overall prepaid card in Canada.”
The limitations of the bank fall to the products and services it does not offer. EQ Bank does not have a branch network or wealth management services. But it does seem to be expanding, recently announcing an EQ Bank Business Card to service small business owners.
EQ Bank also has programs that help refer its customers to the products and services they need. For example, the bank itself does not provide mortgages, though it has Mortgage Marketplace. The program uses an algorithm to connect customers with a mortgage from other lenders, including those from its parent, Equitable Bank. It is not a full-service bank, but these services and expansion efforts help to fill the gaps of many digital-first institutions.
Overall rating
4.0
4.2
Customer experience
3.3
3.7
Best for
ATB Financial works best for Albertans who want a full-service banking relationship within a regional institution.
Canadians who want a low-cost digital banking experience with strong savings rates. It works well for those who are comfortable banking online and prefer a no-monthly-fee account over branch access.
Pros & cons
Pros
Strong regional presence in Albera with more than 300 locations across the province
ATB Wealth expansion into areas outside of Alberta
Full-service product lineup including banking, lending, wealth management and capital markets
Competitive product lineup with unlimited banking and a no-fee digital account
Some savings accounts offer better rates than traditional Big Five savings accounts
More competitive loan and lending rates than the major banks
Cons
Primarily services Alberta so it is less convenient for those outside the province
Savings rate are still modest in comparison to digital high-interest savings accounts
Smaller credit card lineup compared to the major banks
Rewards program points are slightly less valuable than those from the bigger banks
Public customer reviews are mixed with complaints about service quality
Pros
No-monthly-fee accounts
No minimum balance requirements
Earn interest on your chequing account
Higher relative savings rates compared to the major Canadian banks
The bank will reimburse you for up to 5 domestic ATM withdrawals per month (max $5 each)
Deposit insurance coverage from the Canada Deposit Insurance Corporation (CDIC)
Cons
Limited product options
No in-branch access available as it is a digital bank
No dedicated EQ Bank ATMs
Limited investment options beyond GICs and interest on cash
Not a full-service bank
No traditional credit card offering
on ATB's website
Welcome Bonus
N/A
Monthly Fee
$0
Account Type
Chequing • Personal
Account Fees
Monthly Fee
$0
eStatement
Included
4 Our rating
on ATB's website
Welcome Bonus
Earn up to $900* for new customers
Monthly Fee
$24.95 (waivable)
Account Type
Chequing • Personal
Account Fees
Monthly Fee
$24.95
eStatement
Included
4.5 Our rating
on EQ Bank's website
Welcome Bonus
N/A
Regular Interest
Up to 2.75%
Monthly Fee
$0
Account Type
Chequing • Personal
Enjoy the day-to-day flexibility of a chequing account, with an interest rate up to 6x higher** than the average savings account when you direct deposit your pay*.
Key Highlights:
Things to Note:
Is the Personal Account right for you?
It’s right for you if:
It’s not right for you if:
Account Fees
Monthly Fee
$0
eStatement
Included
Transactions
Transactions
Unlimited free
Interac e-Transfers
Unlimited free
ATM Fees
Own Network
$0
Canadian ATMs
$0
USA
$0
International
$0
2.55 Our rating
on ATB's website
Welcome Bonus
Earn total interest of up to 4.60%* for your first 90 days
Regular Interest
Up to 0.6%
Monthly Fee
$0
Eligible clients can get a total interest rate of 4.60%* during their first 90 days from a special bonus of 4.10%.
4.9 Our rating
on EQ Bank's website
Welcome Bonus
N/A
Regular Interest
Up to 2.75%
Monthly Fee
$0
Key Highlights:
Is our Notice Savings Account right for you?
It’s right for you if:
It’s not right for you if:
on ATB's website
Welcome Bonus
40,000 points
Annual Fee
$120 $0
Interest Rates
20.99% / 22.99%
RECOMMENDED CREDIT SCORE
3.1/5
The ATB World Elite Mastercard offers impressive rewards and insurance coverage, making it ideal for high-income Alberta residents seeking premium travel perks. However, the low point value and high income requirements might limit its appeal for some users.
Pros
Cons
Rewards
The accelerated earn rate applies to the first $50,000 in annual purchases on the account, at merchants qualifying for the accelerated earn rate, per calendar year based on your statement cycle date. The annual spend cap for the accelerated earn rate resets every January. Once the combined cardholder spend exceeds this threshold in these categories, they will continue earning points at the regular earn rate of 2 points per $1 spent in purchases.
Insurance
Coverage
Purchase Protection
Extended Warranty
Car Rental Accident
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Car Rental Damage & Theft
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Car Rental Personal Effects
Travel Medical Insurance (64 & under)
Common Carrier Travel Accident Insurance
Flight Delay
Baggage Delay
Trip Cancellation
Trip Interruption
Lost or Stolen Baggage
Hotel Burglary Insurance
Personal Effects
Price Protection
Benefits
Details
Airport Lounge - Dragon Pass
Car Rental Discount
Boingo Wi-Fi hotspot
Eligibility
Credit Score
Annual Income
on EQ Bank's website
RECOMMENDED CREDIT SCORE
4.4/5
The EQ bank card is not a credit card; it's a prepaid card, so you will not be able to get the same level of rewards as when using a credit card and it will not build credit. But if getting a prepaid card is your goal, then this card is, without a doubt, the best choice. Voted the best "Prepaid Card" in Canada, this card offers rewards and benefits that are mostly not offered by other prepaid cards. Earning interest on balance, rewards on purchases, no foreign transaction fee, and especially the unique no ATM fee that no other card provides, makes this card the best among prepaid cards.
Pros
Cons
Rewards
Benefits
Details
No Foreign Transaction Fees
Free ATM withdrawal
Interest on Balance
Eligibility
Credit Score
Annual Income
Chequing
EQ Personal Account
Credit cards
EQ Bank Card
Mixed customer reviews
