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Originally Posted by 8sPOT
Anyone with EQ Bank able to chime in?
No fees, offer 4% interest on a personal account with direct deposit. Also have the really cool Notice savings accounts 10 day (4%) and 30 day (4.25%).
Also, their EQ Card is free at any ATM in the country, says they reimburse any fees you are charged. It operates as a credit card of sorts (MasterCard), you pre-load it from your bank account. This could be a drawback as not everyone accepts MC.
Overall seems to be so much better than the big 5 who offer nothing but their 'amazing service' these days.
Currently with Tangerine but their savings accounts pay essentially nothing. Not really interested in short term promos.
Seems like it may be too good to be true...
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I've had a EQ Bank account for years now. They've been good but I've used it in a very limited way to get US cash for online transactions only. Their fees for US FX are super low compared to others and no weird Norbert's Gambit mess.
The cash card (not bank card) and the whole 2FA not being through an authenticator or their own banking app (txt only) are the two things that really kept me from fully switching. There are also minimums deposits you need to keep that high interest rate.