EQ Personal Account

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:

• Earns up to 2.75%* interest on your everyday balance (acts like chequing + savings in one)
• No monthly fees and no minimum balance
• Unlimited free transactions (e-Transfers, bill payments, EFTs)
• Comes with an EQ Bank prepaid Mastercard
• 0.5% cash back on card purchases
• Free ATM withdrawals in Canada, including reimbursement of third-party ATM fees
• No foreign transaction fees when using the card
• Fully online banking with a strong mobile app
• Ability to link multiple external bank accounts
• Eligible for CDIC protection^† (up to $100,000 per eligible category)

Things to Note:

• No physical branches
• No traditional debit card (uses prepaid Mastercard instead)
• Cash deposits not supported directly

Is the Personal Account right for you?

It’s right for you if:

• You’re looking for an account with no everyday banking fees and an unlimited number of transactions each month.
• You’re looking to make everyday banking transactions, such as direct deposits, pre-authorized debits, Interac e-Transfers^®, and bill payments.
• You’re looking to earn high interest on your day-to-day banking.
• You need instant access to your funds.
• You’re looking for an account that’s eligible for CDIC protection.
• You're looking for a completely digital banking experience.

It’s not right for you if:

• You’re looking for an account that offers cheques.
• You’re looking for an account that offers bank drafts and in-branch support.
• You need to deposit cash.

* Interest is calculated daily on the total closing balance and paid monthly. For the EQ Bank Card, interest is paid into the linked Personal Account. Rates are per annum and subject to change without notice. For the Personal Account, Joint Account and EQ Bank Card, the current base interest rate is 1.00% (the “Base Rate”). Customers who add and maintain qualifying recurring direct deposits of at least $2000/month to a Personal Account or Joint Account are eligible to earn a bonus interest rate of 2.75% (the Base Rate plus an additional 1.75%) for the eligible accounts (the Personal Account, Joint Account, and the EQ Bank Card balance). Conditions apply. Please review the EQ Bank Bonus Interest Offer Terms and Conditions for details.

EQ Bank is not responsible for maintaining accuracy of content on this site. Please refer to EQ Bank's site for the latest product details.