EQ Bank launches its digital banking platform in Quebec

By Edlyn Cardoza

EQ Bank, powered by Equitable Bank, Canada’s Challenger Bank, announced it has launched its EQ Bank digital banking platform into the Quebec market, making it available coast-to-coast to all Canadians.

“We’re thrilled for EQ Bank to be part of Quebec’s financial landscape,” said Mahima Poddar, Group Head of Personal Banking. “Canadian society deserves access to the best banking experience, one that works best for them. We’ve always challenged the status quo to drive better options in banking – from having one account that combines high interest with everyday chequing features, to never charging fees on everyday transactions, to buying attractive rate GICs with the press of a button. We are so excited to be helping Quebecers make more with their money.”

EQ Bank combines a high-interest account with features of a chequing account, like an unlimited number of Interac e-Transfers, free bill payments, and no minimum balance. With the Savings Plus Account, customers can earn up to 250x more interest than at other banks, along with the flexibility of a chequing account —and zero monthly fees.

The Joint Savings Plus Account does all that, along with the ability to share the account with up to three other people. EQ Bank’s GICs bring guaranteed returns with some of the best rates in the market, while the TFSA Savings Account offers tax-free interest on every dollar with no minimum balance and zero fees. From high-interest everyday banking to seamlessly buying GICs to compartmentalising your funds to help you manage your budget, EQ Bank is committed to assisting customers in making more.

EQ Bank launched in 2016 and now has over $7 billion in deposits and more than 290,000 customers. As it continues to expand its digital product offering, the recent launch represents a bold new choice for Quebec customers looking for a better way to bank, all backed by an unwavering commitment to customer service.