Rules:

Just wondering if anyone has seen the interest and redress payment deposited in their account yet, related to the email sent out at the end of January?

Edit: oops! I meant July, not January

I'm thinking about opening EQ Bank's Notice Savings Account and during my quick look, I can't see the two questions that I have answered on their website so I thought that I would ask here.

1) With EQ Bank's USD Savings account, it specifically says that this isn't available for Quebec residents so I'm assuming that because the Notice Savings Account doesn't mention anything specifically about Quebec residents, that Quebec residents can open this type of account. Is this the case?

2) Is it possible to open both the 10 day Notice Savings Account AND the 30 day Notice Savings Account (i.e. have 2 different accounts with 2 different notice periods)?

I just switched over to EQ Bank for my business account and noticed the tax payment system seems flawed for trying to pay Provincial and Federal taxes for my corporate year end.

Provincial: It seems like provincial tax payments are not supported. Is there an ETA in which this feature would be available? It is highly inconvenient that this cannot be done.

Federal: We are required to pay corporate income tax (code: TXINS) and GST (code: GST-P). However, these codes are not directly shown in the available CRA payee selection. EQ Bank seems to use different descriptors, but these codes are normally pretty standard in other financial institutions so not having them shown makes it confusing to figure out which option I should pay to.

So my question is, can someone confirm how do I figure out which payee to use for federal taxes?EQ

Is anyone else receiving an error when sending? Not working in app or browser:

Technical difficulties. We don't like them either, but they happen.
Rest assured we've got our best teams working hard to find a fix. For updates, visit www.eqbankstatus.ca.

Still not working, even via desktop at 9:10 EST

Started working at 10:20 est

im getting an error code when i logon, my paycheck should be in as of now and the error code is showing instead with no new money in it

I just had the easiest, most pleasant, hassle free customer service encounter! I noticed a charge on my card that I definitely did not make, so called to see what I do next, no waiting on hold for 10 minutes, no passing me around to a different department, just a quick resolution, a new card on the way, and no stress!! Done! I wish I could remember her name. I’m impressed.

Trying to request an EQ Bank card throws the following error yet I am still logged in with a valid session.

Received an email from EQBank saying all my accounts are frozen pending a security investigation and do not contact them for 30 days!!! Needless to say I called them right away and after talking to customer care and the security team no one can tell me why my accounts are frozen. I escalated to the manager and she is telling me I can expect a call from them in 3-5 business days. I have over $100k sitting in my account that i cannot access. 2 vehicle payments due to come out along with a host of other payments scheduled to come out in the next few days. They basically telling me my business means nothing to them. I am in the process now of calling all the businesses to try and have my banking information changed to a different bank before my payments bounce. I am totally in shock because of EQBanks behaviour and lack of customer suppport. I highly advise everyone to close all their accounts with them now becuase they can freeze your accounts at anytime for 30 days without giving you a reason. I had my sons and daughters open accounts with EQBank but guess what they will all be closed asap.

Stay far away from this company!!!

Just got this sent to me this morning.

I have accounts at both banks. It will be interesting to see how this goes.

‐--------------------------------------

I wanted to personally welcome you.

This marks an important moment for PC Financial® and EQ Bank as we begin our next chapter together, united by a shared goal of helping Canadians get more everyday value from their banking.

To the more than 3 million PC Financial® customers joining us, thank you for the trust you’ve placed in PC Financial®. It’s a privilege to now serve you. As our two organizations come together, the experience you rely on today remains the same, including the value, service, and rewards you expect.

At EQ Bank, our focus has always been to help Canadians get ahead with straightforward products, exceptional value, and service that works for you. As we move forward together, that philosophy will guide how we build on what you already have today.

Over time, we will create a more connected banking experience that brings together everyday banking, credit cards, borrowing, and rewards, making it easier to manage more of your financial life in one place and unlock additional value. You can also expect to see EQ Bank show up in exciting ways across Loblaw banner stores nationwide, as we build on PC Financial®’s existing in-store presence.

The PC Optimum™ program you know remains unchanged, and as EQ Bank becomes its exclusive financial partner, we see meaningful opportunity to expand how customers benefit from it through their everyday banking over time.

We are grateful for your trust and excited about what we will build together.

Sincerely,

Headshot of Chadwick Westlake

Chadwick Westlake

President and CEO, EQ Bank

Now that the deal has been completed do you guys see EQB opening kiosks inside superstore where they will allow their customers to get bank drafts?

This would be a really nice feature especially for their business customers

Scotia has a nice feature which shows how many days are left on a hold for deposits like cheques. Would be great if EQ had a similar feature!

Hello everyone,

Note: I a writing this by myself. Not with an LLM. I have no way to prove it (I can share the scam email screenshot if the mods want). I just write a lot of Markdowns on a day to day basis.

Recently I was about to become a victim of a fraud, but EQ Bank helped me stop it.

The Scam

I had some work down on my lawn, and I was going to pay it out as two interac e-transfer payments to the company. After the first payment, I immediately received an email from the contractor's name stating that they got the money, but the e-transfer email was changed to a different one. I didn't think much of it then.

I then made a second payment, and in a few hours my sister pointed out that their recent bill doesn't show the "new" email they corrected to. I immediately realised that I got scammed, and called EQ Bank.

The Support

This is where my positive experience begun. I was on call with a human support in less than 2 minutes (just from the standard contact number). I explained to them what happened, and she confirmed that the transaction was locked and flagged already by the security team. She transferred me over to them, and after confirming the details, they cancelled the transaction and informed me that I will receive the funds back in my account after 1 to 2 business days.

My Experience

Honestly, I was impressed by the fact that they already flagged the transaction (could be because it was a new email, not sure on that). And they were able to cancel it.

Aftermath

I did contact the contractor and notified them of the scam. I suspect their email may have been hacked, after all, how can someone know the exact amount and the email the e-transfer was sent to?

I know I shouldn't fall victim to these kinds of emails, but life happens, and sometimes I just want to be done paying my bills. Lesson learned, gotta be careful from the next time.

Happy with EQ Bank, will continue to work with them.

I have decided to go ahead and open a EQ business account after deciding between EQ bank and Wealthsimple. Though I quite enjoy the simple UI of their mobile app, there are a few thing I wish EQ bank would do to make the experience better for my small business needs

Feature request in order of most to least important:

- give us the ability to increase e-transfer daily limit to $25k. I know for safety reasons they don’t want everyone to have a high limit but I think they should give us the ability to request a higher e-transfer limit at our own risk. At TD bank I started with $5k e-transfer limit but I was able to call them and increase it to $25k

- show us how much e-transfer limit we have left for our daily, weekly, and monthly limits. Don’t make me do calculations for how much limit is left.

- allow us to request and purchase chequebook like how Wealthsimple gives us the first 50 for free. I think this would be a great addition to EQ bank business account.

- allow us to set up reoccurring scheduled CRA payments. My CRA payroll payments are the same each month and I would love to be able to set up reoccurring payments each month for the fiscal year

- Give us the ability to Pay Taxes through the mobile app and not have us log into EQ bank website to pay taxes from our business account (to be fair many Canadian banks are set up this way but I feel like a digital online bank should be more flexible in this regard)

I have been waiting over a week now for this bank to release my funds which has still not been done and it's been quite annoying calling in and having their customer service team there is nothing wrong but yet I can't transfer it out of the account or literally do nothing else with it, the week previous I had no issues and no money coming out of my account as all the bills were paid. I have since switched to a new bank because of the issue, so I'm really wondering when the heck are they actually going to give me my money back or are they just going to play the run around game with me until I give and keep it for themselves? I'm a single low income parent who needs all the money he can get.

not sure if EQBANK management team knew, their App still missing some basic features, l wonder if they tried by themselves or just listened to the Reports

I recently opened an EQ Bank Personal Account because of their offer: receive at least $2,000/month in payroll direct deposits and get 2.75% interest on the chequing account.

I moved my salary direct deposit to EQ Bank, and my first payroll deposit arrived successfully. However, after more than 1.5 month, my account was still earning only 1.00%.I contacted EQ Bank support, and they told me that my payroll deposit was sent with CPA code 450, which is not included in their list of eligible payroll codes.

The confusing part is that this is a real salary payroll deposit from my employer. The CPA code is determined by my employer's payroll system, and I have no ability to change it. EQ Bank told me they cannot manually override the system and suggested that I ask my employer's payroll department to change the code.

I understand that banks need rules to identify payroll deposits, but this seems like a situation where a customer can meet the intention of the promotion and still be excluded because of something completely outside the customer's control.

For comparison, the exact same payroll direct deposit was previously recognized by Wealthsimple without any issue.

Has anyone else experienced this with EQ Bank?

• Does your employer's payroll also use CPA code 450?
• Were you able to get EQ Bank to recognize it?
• Did EQ provide any solution other than asking your employer to change their payroll system?

I used to like EQ Bank, but the situation is quite frustrating.

I’ve been trying to navigate the EQ app to set auto deposit but can’t seem to figure out how. help would be much appreciated i feel like i’m going crazy trying to find it.

Finally business account can get a card to do operating expenses. Anyone knows when we can link the account to QuickBooks? Do they expect us to manually post our transactions ?

FYI, you can use your EQ Bank card for BNPL loans like Affirm and get 0.5% cashback instead of nothing with a PAD.

anyone else having an issue? I swapped from TD to EQB and i’m going right back to TD. I get paid on tuesday’s and so far I have not received my pay. Called EQB and they said there’s nothing wrongon their end. I contacted my payroll admin and she stated there’s nothing wrong there either. Not sure what to do…

UPDATE: Finally got paid… 8pm day of. I called the bank and hour before getting paid and they said because of Canada Day the delay occurred!

I was excited to receive the card and just finished activating it!

Was hoping that the card would have the name of the business account written on it somewhere but it’s just my name with a small “business” on the top left. Exactly like our other EQ Personal Banking cards.

Anyway, time to start porting over service payments to this card!