Equitable Bank

Imagine an account that allows unlimited online transactions, pays the best interest by far in Canada, has savings goals built in and it's all for free. That's EQ Bank. It's great. From time to time they have some website issues, but I still keep a small account at another bank as an emergency in case it is down when I need the money. I keep 90% of my cash and non risk investments (GIC) here. I do recommend this service to friends

Waited 1 hour on phone for agent. Soooo glad I read the reviews about terrible customer service. This made me question their service and so true. I was waiting for an hour so decided not to open account with them. Not worth the hassle. I just opened account with motusbank, much better customer service

I had my identity stolen. Someone opened a fraudulent account with this bank. I tried to talk to them for hours, was on hold forever. I left voicemails, never got a call back. Tried again the following day, no luck. I even doubted for a second this bank was real. TransUnion and Equifax took care of it.

Very poor customer service. Automatic deposits don't go through, then two deposits come out instead of one. You try to reach them through chat and the chat disconnects. You try sending email, and no one cares to even respond. I will be moving all my money away and absolutely don't recommend using them. This is hard earned money we are talking about, not a pint of beer...Update: waiting for 3 weeks for someone to respond to my email inquiry. Don’t think this will ever happen. All you need to know about eq bank...

I give up. Wife and I each have accounts and don't remember any issues setting up. Tried to get our kids set up and was so wow'd by the tech of taking a picture of the ID and then verifying to face. Until it simply didn't work. Tired both BCid and Passport, then system told me had to go to a post office. NO THANKS. get your tech working if you are going to be a virtual bank. They will stay with Tangerine

This bank had 3 months to review my mortgage application before completion date, and on the day of completion they decided they could not lend to me based on some frivolous excuse that had nothing to do with my ability to pay the mortgage (which I had put 60% down payment on!). Even the night before they assured me they have everything they need to complete. Do no trust these guys, they didn't even bother to refund my costs for the ripoff appraisal ($367!) or issue an apology or anything. They nearly screwed me over big time and had to scramble to find another lender in a few days. DO NOT USE THEM!

EQ Bank may offer good interest rates buy they have horrible customer service. The account creation and account linking processes were nightmares.The agents are friendly enough, they just can’t resolve any issues. And speaking to a supervisor doesn’t help. In fact, most of the supervisors didn’t even bother to call back as promised. When you call yourself, you’ll have to wait on hold for a solid hour…if you’re lucky enough not to get disconnected while waiting in which case you’ll have to start all over again. If you do connect with an agent or a supervisor, they’ll refuse to give you their contact info so when they fail to follow up as promised, you’re left calling and starting all over again with a different person. The bottom line is no one takes ownership of any issues and fixes anything.This fiasco went on for weeks until I finally got so fed up I just closed the accounts and went elsewhere. But before I left they made sure to advise me that I could never come back if I closed my accounts. In other words, if you ever leave even after they fail to provide the simplest service for which they’re in business, you’re blacklisted. What a joke.I signed up with Motusbank because they have comparable interest rates and the customer service has been great. Trust me, go to Motusbank instead and save yourself the headache.

Not sure about all the negative reviews but I couldn't remember ever needed to contact EQ and so far I have really enjoyed being with EQ and recommended it with passion. The top reasons for me are:- Best interests (and clearly indicate the interest rate and amount you are earning on your account)- Easily link your other bank accounts via external accounts (saves chequebook fee when doing large transactions)- They launched a no-FX fee card! Such a shame that they didn't advertise the card enough. The card is pre-paid but gives back 0.5% cash back on domestic and international spending! Couldn't find a better deal across Canada.All in all, I am just very happy with EQ and hope it stays this way or keeps the pleasant surprises coming.

The worst experience I've very had with any bank. They will not send the proper security codes, then will lock you out of your account, then will ask you 100 questions regarding the information in your locked account, such as balances, exact transaction amount and dates, etc.

I have been customer of EQ bank for two year now. They have best savings accounts available. I used them only for my savings but recently started paying bills too. I had talked to customer service over the phone multiple time including when my other's bank account was hacked into and I had to make sure my savings are safe. Every time customer representative was helpful and polite. I have nothing but good experience with EQ and I am honestly surprised by all the negative reviews out there