EQ Bank Reviews 255

Overall i will rate this bank poor . I'm totally unimpressed .

EQ has bugs in their homepage and i am not able to login to my account anymore. this issues has been there since 2 weeks without any resolution. Dont have access to my money and EQ bank is unable to solve it.

I’ve been with this bank for a year and pretty happy so far — with the website, customer service and the card. It has a higher interest rate than any physical bank and even some of the online banks. The card is fairly easy to use and I can choose how much is on the card and easily see my transactions.

I think this is the worst bank you could waste your time on. Never mind money that you could be wasting to put into there not physical branch . Enjoy speaking to "customer care" they value your opinions they just don't help you with them

It is surreal. This is definitely a joke of a bank! I have my money in the account and I can see it through my dashboard but guess what? I cannot transfer any amount from it. I needed my money for my mortgage and because of whatever is going on, I am unable to access my funds. Their system is saying I do not not have sufficient funds but clearly I have sufficient funds much more than what I was transfering. This is a nightmare! I am going to be delayed which definitely is not going to be OK.

This cannot happen if you missed a single payment with this bank. They are quick to approach the credit bureau. I cannot believe this is happening.

My account was locked with almost $1200 inside and I was told some of the transaction was reported as fraud then I immediately get in contact with those who send money to my account during that period and they said they never did and let the bank know then they investigate my account for 30 after 30 day I did not hear from them I get in contact with them and they said money in my account will be refunded back to the originator and they won't disclose any information to me. Then if you are to refund the money back to the originator then $700 should be refunded back to my tangerine bank because out of the $1200 inside the EQ bank $700 was transfer from my tangerine bank to the EQ bank. I even reach out to those who send money to me within that period they said they never receive any money back

Holding online transfer, money is stuck

As a bank great BUT if you have a iPhone 8 or older there app shuts you out my advice from them go to labtop or newer phone I deal with 6 other banks with no problem it’s a shame that there IT people can’t solve this problem

Sent an interac e-transfer and still haven’t received the money in 2 days now, this bank is Trash smh

I obtained an EQ bank account to make use of their reloadable mastercard. So far it's worked for everything I've used it for. I get interest money loaded on the bank card, and on the personal account for any money I have with them. Unlike my other bank, they don't charge me money just for having an account. Their website has had some downtime, but the card itself has never failed. I don't completely trust them based on other people's negative reviews, but so far, my experience has been positive after 13 months.

On December 1, 2025, EQ Bank changed there sign in method. Before then, everything was great. Since then, I can't get into my account on my pc. I've set 5 different passwords, and I keep getting sent back to the same password upgrade page. I reported this to the agent, and he couldn't fix the problem. The day after, a tech agent phoned, and couldn't fix the problem. As of now, I sill can't get in to my desktop account. The mobile account works fine... Seems like they aren't going to bother fixing the desktop problem.

I just opened a business account with this bank and tried to deposit a cheque explanation. I chatted with them and called a live representative. The explanation was, "Our security department didn't process your cheque . I don't understand why. There's nothing I can do—I closed my CIBC account because of the high fees. Now I can't do anything with my client cheques—they might reject them again and again. I was very upset at first. But after reading your reviews of this bank, I calmed down. It's good they didn't accept the cheque . Otherwise, I wouldn't have been able to manage my money. I rate this bank at 1. Maybe in 5-10 years they'll improve. So I'm not closing the account for now. I'll wait.

RSP transfer,
EQ bank sucks.
My husband tried to transfer his RSP to his bank acct more than a month ago.the dateline is coming up soon but until now they still have not transferred it.He has been going back n forth many times n even chkd with his bank personally. EQ bank cited my husband's middle name was omitted that s why the transfer didn't go thru.He had been using his 1st n last names in past transactions many times without any problem.They didn't bother to inform my husband n sat on this issue for almost a month.Any phone calls to them will take u a long time.It s not worth it at all.

PEOPLE LOOKING FOR A MORTGAGE — PLEASE BE AWARE.**

I want to share my experience because I am deeply disappointed with how my situation was handled, especially during a period when I genuinely needed support. When I first asked for help due to financial hardship, I didn’t receive the assistance I hoped for. At renewal, my mortgage rate was only reduced by 1%, and when I later requested a payment deferral, I was told it wasn’t an option.

Eventually, I lost my home. I never received an eviction notice or an opportunity to appear in court, so the entire process came as a shock. I found out my belongings were already being packed, and when I asked to handle it myself, my property manager told me I couldn’t. When I went to pick up my things, I felt pressured by the movers to sign paperwork and pay extra fees before anything would be released to me.

What I received back was upsetting. Many items were damaged, carelessly packed, or missing— including my children’s money, jewelry, and some of our clothing. I also came across signatures that did not look familiar to me, which was extremely concerning.

I tried reaching out to the bank’s lawyer for clarity, but communication was very limited. Later, the manager handling my file told me they would try to help me regain my home due to the housing market, which gave me a small sense of hope. With the help of a new mortgage broker, I attempted to move forward. Then the manager’s phone line stopped working, and my emails went unanswered. Shortly after, we learned the home had already been sold. I was told that retrieving it would mean paying the full amount upfront, which is simply not possible.

What’s most frustrating is hearing that “help was offered,” when my experience felt very different. My concerns about the process remain unanswered, and the issues involving my belongings and documentation have never been resolved.

If anyone else has experienced something similar, please reach out to me. I truly don’t believe I’m alone in this, and no one should have to navigate a situation like this without support.

I can see why they have a 1.8 star 🤣🤣🤣 these guys are crooks joke of a service you send a e-transfer something goes wrong so you cancel it the money doesn't go back into your account so you have to contact support then they say it will be a extra 2-3 business days for a canceled e-transfer to be back into my account????? that's ridiculous do not use these fake people

I was trying to try the Notice Savings Account product but the webpage seemed to be misconfigured with no place to select interest rate or notice period. I contacted an live agent (after dealing with the robo advisor). Explained my issue at which time I was autologged off. Several attempts to logon were met with the "Technical Difficulties"page. Highly suspicious, I am calling BS

3 times while FINALLY getting a live agent I had to enter a 6-digit code. The 1st one dropped me and sent me to another section, punting me off. The 2nd repeated the 1st person's questions. Then said would look at my problem. Then said they couldn't help because I don't have a CDN phone number - though this has NEVER been a problem before. "At my CONVENIENCE (Hah!) I could phone an 800-number. And, of course, as happens with all Chat convos with EQ, I kept getting punter off for too little time online?!

Very untrustworthy system

I have 2 refunds from the same hotel due to there error. But EQ Bank regardless of the returns will not release my money until the 16th day. Authorization numbers were given that they could confirm, but no. They want to make 2 weeks of interest off my money. When I was with Koho. Refunds appeared back in my account instantly or at least a few hours. I'm going back to Koho. I'm actually ashamed I tried another bank.

For a digital only bank, they aren't very digitized

Have all the ID and document ready to go...what could go wrong?

- Make a deposit? go ahead

- Now want to send money out even back to the account that made deposit? Nope, please do enhanced due diligence (Don't feel like telling me before making a deposit my fund will be stuck for a while?)

- Want to do enhanced due diligence? Nope, can't start the process on the website. Please call us

- Call them, want to speak about your account? Please verbally read an OTP we send to your e-mail or sms instead of pin/touch tone

- Verbally request to start enhanced due diligence verification process. Sends you an e-mail with a link to their 3rd party KYC service provider

- After completion, want to check status on website? Nope, not on the bank's website

- Few days later, verification passed? Nope, tells you picture isn't clear even when the KYC app said picture is good and go ahead to next step and press submit

Apparently, there is a hidden requirement they won't tell you upfront when taking picture of you ID but they expect you to read their mind

** They can reject it solely because they don't like the background / surface of the ID is placed on (i.e. color of your table)

But their app apparently doesn't know that either and tell user to go ahead and wait up to 3 business days to find out

- Get another link to start this whole verification process again

- Rinse and repeat

- Have to call them every so often to ask them what the heck is going on with the process

- Finally, this sequence of event happened:
Day 1: Document is fine, need your Photo ID
Day 2: Photo not clear, please resubmit
Day 3: ID is fine, we are checking your document

Tell them that document was declared done before.

They then suddenly realize they are contradicting themselves

They then decide to transfer the customer to talk to security department.

The team member said the following:

- He has not spoken to the team member that transferred and he has no idea what is going on

(If he did he would realize the customer doesn't need to speak to security team)

- All question he ask is normal authentication process to talk to account holder

(**no new information is provided by the customer**)

- THIS IS HIS FIRST TIME SEEING THIS ACCOUNT

But somehow without any new input from customer and first time seeing the account the team member after few minutes of poking around said Enhanced Due Diligence is now complete and your account is unlocked.

And all that has happen was, the team member was reluctantly forced to look up the said account.

Putting all this together, the said security team member said he don't understand why customer is upset with this shenanigan. "Isn't your goal to unlock your account? " (it is unlocked .. you should be happy)

Yes, he actually think that is a good question to ask the party that is being forced into the situation

"I am trying to understand your perspective"

(Clearly the part about the Bank withholding customer access to their deposit against their will escapes him. If he was expecting a big thank you it is obviously not coming.)

Imagine getting this dialogue tree when it is already clear as day to the customer the security team screw up

It doesn't take a rocket scientist to realize your team could had UNLOCKED THE ACCOUNT AGED AGO WITHOUT NEEDING THE CUSTOMER TO CALL AND WAKE YOU UP and you are wasting everyone's time (including other employees of the bank itself)

The most important question Is: What if the customer didn't call?

Your security team did still be verifying document that is already checked and customer's account is still locked

Better yet, your backend is so good you don't even realize you are doing duplicated work?

This millions phone calls to do anything scenario actually happened at a "digital only" bank.

Note: If profanity and insults was allowed this review would be worded very differently to better reflect this pile of ....