EQ Bank Reviews 

Poor customer service, with long waits over the years. Problems "handled" actually not handled. Twice. And no response from management. Moving my $$$$

After five years as a customer, I was disappointed with my renewal experience. As my mortgage approached maturity, I was repeatedly encouraged to renew early, only to be offered a rate 0.5% higher than what other banks were offering for the same terms. I expected a more competitive offer, particularly after being a long-term customer.

My experience with Eq Bank was excellent .
The representatives were patient,kind and werey clear.
They explained everything step by step and rephrasad things when I didn^t, understand , without making me feel uncomfortabol . I felt respected. supported and at ease throughout the call. Thank you for your excellent service and patience.... I truly appreciate your help

I applied online for an EQ Bank business account for my incorporated Ontario company. The business is active, registered with CRA, and meets every eligibility requirement listed on EQ’s website. After I filled in the whole application, including industry, business description and revenue, I got an instant “we were unable to open an account for your business” screen. No reason was given, I wasn’t asked for any documents, and I had no chance to clarify anything. All it said was that they can decline “for any reason.”

If there are extra criteria, say so before people spend time on a full KYC application. Very disappointing for a bank that markets itself to small businesses.

Horrible App. Always have issues. Poor customer service department. Poor technical support team. I would not bank with them. Especially business account

Do not put emergency savings in an EQ bank, it will just randomly lock your account and you will have no access to your money for days/weeks. It doesn’t matter if you have submitted all the required documents that they asked for, YOU WON’T HAVE ACCESS TO YOUR OWN MONEY right away. Choose a different company instead.

If you want to deal with a bank where the mobile app and online service crash multiple times a month then this bank is for you. Yes no fees is great but when you want to access your money and you cant then that becomes a huge problem. Also the most you can withdraw a day is $500 from an ATM. So when you go to login to your account to load your card with money be prepared to receive an error code and then you jump over to eqbankstatus.ca and it says both online and mobile apps are down and they don’t even give an estimate of when they think it will be up again then that is poor customer service

Worst bank every dealt with in my whole life..

I knew nothing about EQ Bank prior to the past week. Contacting customer service was immediate and no waiting. I spoke to a Sophia, who was extremely helpful in explaining how their app and card works. It’s different from other cards I have used but user friendly once you understand it. I also discovered through speaking to her, that they also have TFSA account options with great options.
I got this card to use for travelling abroad as they do not charge transaction fees.
Will see how things go and will write another review after my experience.

They randomly locked account, apparently because my bc drivers license has a sticker indicating a change of address (standard procedure). I've since spent 20 hours on the phone bouncing between customer care and security, completed 15 ID checks using their software that always get rejected for reasons they often can't tell me. So it's do the ID scan, wait 2-3 business days, hear nothing, call them after, speaking to useless customer care that just tell me to do ID scan again. Repeat, same effect. Endless. They promise to have it resolved by a certain time or tell me what I need to do, but never once have done either. Then I call and process repeats. Calls usually entail speaking to customer care who can't do anything, who calls security while I'm on hold, communicate basically nothing, then more on hold while they talk to security again.
Submitted a formal complaint to their department and was told explicitly that there was no chance they could resolve it. Just do ID scan again (and get it rejected again).
All the while money is locked away and I can't do anything



I Initiated a standard request via EQ Bank's Privacy/Accessibility department to obtain a copy of personal information file.
 Despite a formal disability accessibility request for slow-paced written communication or the system they already used previously, EQ Bank ignored this and sent a generic template email referring me to their standard customer service: fast-paced, high-pressure, real-time TTY mobile relay service.

Beginning at 2:38 PM and concluding at 3:59 PM, I was forced through three separate chat sessions between 2 people (the mobile carrier agent + EQ agent) due to EQ not answering the phone, agent disconnections and system loops.

Over the course of the multi-agent relay, I provided my full name, email, phone number, age, date of birth, current address, move-in date, last 4 digits of bank card, last 4 digits of bank account and 2 login device names/types. After a threat of account restriction, a partial Social Insurance Number (SIN) was also provided.

After answering intensive, high-barrier verification questions (incl proprietary device details only accessible to the account holder) EQ Bank agent stated they "could not verify" my identity. They then placed a lock on my account, completely freezing access to funds for recurring vital bills.

Following the complete account lockout, EQ instructed me to submit proof of address, a selfie and photo ID via a secure portal: the exact method I requested in the beginning.


EQ's lack/failing policy/systems, highlight concerning systemic failures and excessive verification loops, while ignoring formal disaility/accessibility requests.

Imposing excessive barriers for basic privacy rights requests and penalize vulnerable customers with unjustified and unnecessary lockouts.

Wanted to xfer some money to my account. Have done this many times before.
Now, with no warning, their systems have changed and all the interbank details (accounts, passwords, etc) must be revalidated.
Except, they haven't fully debugged their garbage coding before inflicting it onto customers.
So, I contact customer support and they, basically, want to use me as sn unpaid beta tester with some support monkey over chat.
I have a significant amount of money in this bank and expect them to work for me, not to provide them with myself as unpaid cannon fodder for their incompetent programmers.
Will give them one more try tomorrow. If it still effs up, I'll look for another bank. GICs, etc, means this will take some time, but "service" like this is inexcusable.

I've been with EQ Bank for several years now. My wife has an account with them and so do my 2 sons. None of us have experienced any issues. When I have had the need to call them, each call taker has been awesome, helpful and great to deal with. They even compensated me for an error that I made. IMHO the negative reviews about EQ Bank seen to be down to user error and bricks and mortar banking requests. It's an online bank....it does what it says on the tin and does so very well. 10 stars from me and my family, thank you EQ Bank.

EQ needs to take their bad experiences with international transfers seriously. So much time wasted, so many delays. Hear this clearly, Wise is a bad idea. Discontinue their services. Drop them.

Do not bank with this bank if you want your money. All the workers lack any customer service and they will bully you so they can not give you your money. They make interest for themselves off your money they are holding/pending. That's why it's free. If you want a reputable cheap bank account.. go with Neo Financial. They never hold your money and all the workers there knows how to treat a customer properly. I'm currently dealing with a high risk situation where it's important for me to obtain this truth. But I can t cause eq and the them workers wants to hold my money and so now I'm stuck in this parking lot as I needed this money to purchase the correct item. If I go home without it.. I'm faced with more vandalism and theft from these people & they are getting away with everything they are doing to me & I just want this harassment to stop. But now I have to wait 30 days for this refund cause eq bank employee is ok with allowing this to happen to me cause if they cared for their customers they would see how much of an urgency this is for me. I just want these ppl to stop following me and stealing my things. & The only way to stop it if I have some proof. Which is why I can't involve the police as I have no proof of these people that are doing it.. but I just need one thing for this to work.. and now I'm stuck because they think I'm not being serious. So if anything happens to me, I guess it was all my fault to begin with. .

Worst bank to open an account. The online pro the online process doesn’t let me allow to open account and if you call the EQ bank customer service to try to help you still doesn’t work and they create a case. They tell they someone will reach you in 2 to 3 days and no one returns back. I’ve tried this for almost 3 to 4 times the same thing and after like one year I tried it again. I thought I’m a work permit holder so they will not allow me to open. I got my permanent residency opening still the same problem so there’s no fix for this. I think the bank has to be closed. There’s no use of running a bank like.

I recently initiated a transfer from
My 10 day Notice account but for some reason the funds did not arrive. I tried initiating the transfer twice again today but it did not initiate. After discussions with several customer service representatives, Lafayette went above and beyond my expectations to resolve the issue. It has put my trust back into EQ Bank

They refuse to return money for unauthorized transaction on my prepaid Mastercard

Opened an account and E transferred $90,000. into the account 8 months ago . Submitted ID, Drivers license , Selfie , Vehicle ownerships , TD Bank statements and more . Each time they reply back that they are not clearly visible . Have gone through this process THREE Times over the 8 months { have had numerous people help each time } Same BS with this bank and they take approximately a minimum of 11 days, after submitting the photos, to get back to you that the photos are insufficient . Now 8 months later they want me to resubmit the photos . In the meantime instead of getting a 3 Percent rate i am getting 1 percent and am unable to get my $90,000. out of this bank . Have multiple investments in many financial institutions and have Never had this much problems with a so called Bank . Save yourself the headaches and go elsewhere. Taking them to court seems to be my best option and would expose what EQ Bank does with other peoples money .

Worst bank in the world held my money hostage because my ID was expired by a few days couldn't pay rent pay bills or buy what was needed for my child they did not care at all and is making me wait four to six weeks for hard copy to allow me back into my account so I can access my funds do not I mean it do not open an account here at EQ there are 100% better Banks