LiveSPX7,620-1.28%NDX29,127-1.41%US10Y4.961%+3.23%BTC76,816-1.24%ETH2,468-2.07%GOLD4,320-1.02%NVDA210.96-8.42%MSFT505.41+1.14%GOOGL349.39+3.23%
Advertisement
Financial institutions
LiveNeobanks & digital banksCanada

EQ Bank

By Equitable Bank (EQB Inc.)

EQ Bank is a Canadian digital challenger bank based in Toronto that offers a technology-driven alternative to traditional brick-and-mortar financial institutions. It provides a suite of personal and small business banking products, including high-interest savings, GICs, and registered accounts, designed for consumers who prefer managing their finances through a mobile app. The platform is ideal for Canadians looking to maximize interest earnings while avoiding everyday banking fees.

Last verified today
What it offers
  • Users can earn high interest on their deposits through the Everyday Banking account and specialized Notice Savings Accounts.
  • Customers can withdraw cash for free from any ATM in Canada using the reloadable EQ Bank card.
  • Investors can open and manage registered accounts such as TFSAs, RRSPs, and FHSAs.
  • Individuals can purchase GICs with a minimum deposit of $100 across various terms ranging from three months to ten years.
  • Small business owners can access dedicated business banking offerings to manage their company finances.
Standout features
No-foreign-exchange-fee EQ Bank Card0.5% cashback on every purchaseNo everyday banking feesHybrid chequing and savings accountsCloud-based mobile banking application
Fees and rates

Free. There are no everyday banking fees or account transaction fees, and ATM withdrawals within Canada are free.

Background

EQ Bank was launched as a digital-first neobank brand by Equitable Bank, which is Canada's seventh-largest bank by assets.

What's new
  1. 2026-09-14New profile

    EQ Bank added to the directory

    EQ Bank is a Canadian digital challenger bank based in Toronto that offers a technology-driven alternative to traditional brick-and-mortar financial institutions. It provides a suite of personal and small business banking products, including high-interest savings, GICs, and registered accounts, desi

    milliondollarjourney.com
Closest alternatives
ChimeLiveUS

Chime is a leading U.S. financial technology company and neobank designed for users seeking accessible digital banking without monthly fees or minimum balance requirements. It serves as a fee-free alternative for day-to-day money management, particularly catering to individuals who may have fair or bad credit. The platform offers mobile-first checking and savings accounts alongside tools for early direct deposit and fee-free overdraft protection.

Neobanks & digital banks· Free· verified today
SoFiLiveUS

SoFi is a digital banking platform and neobank that offers a combined checking and savings account model to help users manage their finances in one place. It is designed for consumers seeking high-yield interest rates, no monthly fees, and early access to paychecks via direct deposit. The platform reached sustained quarterly profitability in 2025 and serves as a major player in the U.S. digital banking market.

Neobanks & digital banks· Free· verified today
RevolutLiveUK

Revolut is a fully authorized UK neobank and digital money platform that provides personal and business financial services via a mobile app. It serves millions of retail customers and businesses with a suite of products ranging from multi-currency accounts and international transfers to investment options. The platform is designed for individuals seeking better money management and companies that operate across international borders.

Neobanks & digital banks· Free Standard plan and paid tiers up to £55/mo for personal, and £10/mo to £125/mo for business· verified today
Varo BankLiveUS

Varo Bank is an all-digital, nationally chartered neobank founded in 2015 to promote financial inclusion. It serves over 3 million customers by offering online checking and high-yield savings accounts with no monthly fees. The platform is designed for individuals seeking a branchless banking experience with automated tools to help grow their savings.

Neobanks & digital banks· Free· verified today
CurrentLiveUS

Current is a tech-forward neobank designed for users seeking a mobile-first digital banking experience with competitive rates. The platform provides a Spend Account that integrates credit-building and rewards, making it particularly suitable for individuals who want to manage their finances, earn cashback on daily purchases, and accelerate their payday through early deposit features.

Neobanks & digital banks· Free· verified today
Sources