EQ Bank · Chequing
No monthly fee with unlimited transactions, 1% interest.
Fees and rates verified 2026-08-19Published fee scheduleWe earn nothing from any institution hereHow we research
What it costs
- Monthly fee
- None
What is included
- Transactions each month
- Unlimited transactions
- Interac e-Transfers
- Included with no separate fee
- Fee per e-Transfer beyond that
- $0.00
- ATM network
- Any ATM in Canada, EQ Bank reimburses ATM fees
- ATM outside the network
- $0.00
Interest
- Posted rate
- 1%
- What the rate depends on
- 1.00% base rate; 2.75% total (1.00% base + 1.75% bonus) when you direct deposit your pay
Who can open it
- US dollar account
- Yes
Deposit protection
- Insured by
- CDIC
Where these figures come from
- Figures checked on
- August 19, 2026
- Source page
- www.eqbank.ca
- Fees and terms
- Published fee schedule
Notes
Unlimited free Interac e-Transfers, bill payments and EFTs; no cheques and no cash deposits; separate US dollar account pays 2.50%.
Where the institution contradicts itself
Three different rates on EQ's own site on the same day: the rates page (Effective May 15, 2026) says 1.00% base / 2.75% with direct deposit; the homepage advertises 3.50%; the Personal Account product page says 1.50% + 2.50% bonus = 4.00%. I used the dated rates page.
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Where this came from. Every figure on this page is taken from the institution’s own page or its published fee schedule, never from another comparison site, and a field is left blank rather than guessed at. Rates and fees change without notice, so confirm with the institution before opening anything. We receive no payment from any institution listed here.