"Disgusting experience with this bank"

Disgusting experience with this bank. My account was blocked "for security reasons", although no one from the support could explain to me exactly what the reason was. After numerous chats and several phone calls to "verify my data" I was informed that they would be able to unlock my account within 30 days!!! That is, I lose access to my money for a whole month.
Although in other banks similar situations are solved with one call in 15 minutes

"To all EQ Bank clients and those who…"

To all EQ Bank clients and those who will open an account to this money Institution. Heads up, about their EQ bank card monthly cash back product. Beware of this because if you noticed it was not posted or credit back yo your eq card account witch is every first week of the month it should be credited back you. This is not only the month the have delays posting it. Imagined that if every dollars or money in the bank that we put is gonna have an interest every day. Since they almost have more than weeks of the delay posting it that means it was have an increasing interest already. That the client must get it. If they cannot be in time or punctual handling money. Better not to TRUST or PUT YOUR MONEY in their Bank even they have a hi interest. You know that its not good to be true....

"Thievery"

Bought a prepaid card today and tried to pay my cell phone bill and the card had been wiped out and after an hour on the phone of getting the run around nothing has been resolved after Christmas shopping this week that was the last of my money and I can't work without my cellphone so I will be making irate calls from my parents landline to them wasting their time and much more than $50 in wages until someone fixes this

"Could not even make it past the sign up prosses"

Here's a revised version:

Experiencing a 35-minute sign-up struggle, all I got was a message to contact customer support, which never responded. If a company falters on such a basic process, it doesn't inspire confidence. If people can't sign up, how can they trust the bank? Seems like they're not interested in new clients. Frustrating as it is to find a reliable online bank, my past experiences with Tangerine and Koho were disappointing. Tangerine charged me over $300 by mistake and didn't assist until I paid. Koho mishandled multiple credit-building payments and redirected essential funds without concern for my situation, leading to significant personal and financial losses. EQ Bank didn't even make it past the sign-up. I'm moving elsewhere.

"My mom sent me some money via Western…"

My mom sent me some money via Western Union directly to my eq account, thinking it would be a convenience to avoid the money mart experience. Seems reasonable, right? Well, surprise! EQ bank distinguishes itself by being the only bank in 197 countries that does not accept WU money transfers. The word accept is used for lack of a better one, since in fact they did accept the transfer, according to a WU investigation, they just did not credit my account or send the funds back to the sender. It sure expands the meaning of "bank robbery"! The number one bank in Canada, or whatever the ad campaign asserts, is number 1 at robbing its customers. I will have to resort to filing a small claims lawsuit to recover the funds.

This isn't even my biggest complaint against this corrupt enterprise. #sigh# You simply can not trust anything they claim. For example, the EQ (from here on I will abbreviate EQB to ≠ since it's more accurate) CC benefits from Mastercard® Zero Liability Policy, which sounds nice, usually debit cards are risky because customers don't have insurance against fraud - a reason to avoid them altogether.

I had the misfortune of having to test this coverage, and unlike the pleasant and helpful experience I had with Capitol One USA the last time I was a victim of fraud, when the funds in question were credited back to me before I hung up the phone ~ 5min. Wanna guess how long the turnaround is at ≠? 90 days. That's not a typo. Is that even legal? *Does anyone know about oversight or regulations governing Canadian (non-investment) banks? Class action anyone?

5 weeks now since ≠ hijacked my WU transfer, emergency funds from the Canadian government (unlawful to impose banking delays or holds on this type of payment), and my balance. The result has been food insecurity. I lost a LOT of weight, dropping my pant size from 36 to 30. I am 6'6" and now weigh less than 180 lbs. 220 was my weight prior to the forced fasting. It's a nice bonus to lose a bit of weight, but it's frightening to be only halfway through their timeline. Mind you, "investigating" CC fraud is a 30 minute task, my account is very simple and my patterns are clear. This is simply abusive.

Please offer any advice, my weight loss is scaring the $h¡t out of my friends.

"In general it's good and easy to use"

In general it's good and easy to use. They just don't honor their referral fee system even if you message support and have your referral contact them (they ask you to have the referral contact them), so don't waste your time with that.

"Useful"

Nothing has gone wrong for me so far. I’ve read other reviews having problems with them, but I haven’t had any. I’ll update this review if something happens. The design is nice and simple and I can get everything I need to do done.

"Feel cheated"

Feel cheated. Typical bank that promises to pay then makes sure you don't get the money. My friend had an account and said to see if there was a referral program. Wasted time searching the EQ website and found no link or anything on their menus. Googled and got what I thought was correct info. To double check, wasted more time to call TWICE, and got told conflicting Information. Never got told the correct process to get the referral. Told there was a code. Thought that I just would type in the code when I put in the info to open the bank account. Just created the account. I called to ask if my account was created and told too bad I'm not getting the referral money. After EQ BANK made it almost impossible to even find out how to do it properly and look up the info, and their dopey customer service agents never gave me the right information. After I called and complained they just hung up on me TWICE. Then talked to a supervisor who also refused to do anything. Guess they don't care about losing customers. No care to make it right. Also EQ bank keeps information illegally after the account is shut down. How do they know I couldn't get the referral since the account already opened even after I told them to shut it down, if all my info is supposed to be wiped??? Horrible customer service!
At least Simplii Financial has made things right. I'm going back to them.

"Richard"

God! I just called their customer care trying to open an account based on their higher interest advertisement. The agents are so ill- trained, Priyanka with Indian accent has no idea about their advertisement and she just repeats like a robot reading from the notes. She is not welcoming and cares less if we open an account with them or not. Second time, another Indian namely Darshani, she goes we don't anything much about the promotions advertised but you can open with other banks if they advertise higher rates! Wow! I was so thankful to these two ladies who saved me from not to open any accounts with them by parking my life long savings with them to deal with people like these.

"Eq Bank is a poster child for the importance of reading ALL the fine print conditions BEFORE signing up."

Do not be mislead by EQ Bank's clever advertising and hype. This player practices bait and switch games with its interest rates.

For example: EQ Bank disqualifies all incoming EFT and Interac® deposits from its widely advertised “high rates”. I’ll say that again. Using normal channels (EFT’s and Interac®) to transfer money into your EQ Bank account disqualifies your savings from receiving EQ’s top advertised rate. The terms are right there… in the FAQ’s… if you drill deep enough, you’ll find the conditions… under “BONUS”.

Put in actuarial terms, EQ Bank effectively slaps a 20% penalty against your highest available interest rate on savings deposited there UNLESS you link them and assign access permissions to either; 1) your income source (conditions apply); or, 2) to bill payment accounts that transact at least $500 per month.

They also have an EFT hold policy that is among the lengthiest of its competitors (minimum of one full calendar week), but insist they are working on improving that situation... so time will only tell.

To their great credit, however, I HAVE received top notch Customer Service! Indeed, conscientious follow-up has been very good about acknowledging and replying to my two criticisms, but sadly could not resolve either issue raised. Accounts were professionally closed with mutual regrets, so I do remain very impressed by EQ Bank's excellent personnel, all of whom are unquestionably doing their level best within the limitations of their employer's clever policies, so five stars here.

At the end of the day, I feel EQ Bank should shout less loudly about its 3% interest rate and redirect those efforts into yielding higher average rates across the board on all savings on deposit. Savings deposited in EQ Bank ARE savings deposited in EQ Bank, so why the discrimination against industry accepted standard deposit methods? One star, for showing up to the party wearing smeared make-up.

RESPONSE TO EQ REPLY:
A glass poured only half full remains half empty. Spin works both ways; 3% is 2.5% requiring 20% more to be “equitable bank”, is it not?

Glad you’re aware of my views on your tricky advertising and two-tier interest rate scheme.

Email me when you are willing to pay your top rate on my savings deposited into your bank, no matter how they arrive. I'd likely come back. I'll be waiting.